April 3,
2023
Date of Report (Date of Earliest Event Reported)
Central Index Key Number of the
issuing entity: 0001682860
Wells Fargo Commercial Mortgage Trust 2016-LC24
(Exact name of issuing entity)
Central Index Key Number of the
registrant: 0000850779
Wells Fargo Commercial Mortgage Securities, Inc.
(Exact name of registrant as specified in its charter)
Central Index Key Number of the
sponsor: 0001541468
Ladder Capital Finance LLC
(Exact name of sponsor as specified in its charter)
Central Index Key Number of the
sponsor: 0000740906
Wells Fargo Bank, National Association
(Exact name of sponsor as specified in its charter)
Central Index Key Number of the
sponsor: 0001592182
LMF Commercial, LLC (formerly known as Rialto Mortgage
Finance, LLC)
(Exact name of sponsor as specified in its charter)
Central Index Key Number of the
sponsor: 0001577313
National Cooperative Bank, N.A.
(Exact name of sponsor as specified in its charter)
New York |
333-206677-08 |
38-4006913 |
||
(State or other jurisdiction of incorporation of issuing entity) |
(Commission File Number of issuing entity) |
(I.R.S. Employer Identification Numbers) |
c/o Computershare Trust Company,
N.A., as agent for
Wells Fargo Bank, National Association
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity)
(212)
214-5600
Registrant's Telephone number, including area code
Former name or former address, if changed since last report: Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised Financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
The Shops at Crystals Mortgage Loan, which
constituted approximately 3.3% of the asset pool of the issuing entity as of its
cut-off date, is an asset of the issuing entity and is part of a loan
combination that is being serviced and administered under the trust and
servicing agreement, dated as of July 20,
2016 relating to the Shops at
Crystals Trust 2016-CSTL filed as Exhibit
4.2 to the registrant’s Current Report on Form 8-K filed on September 29, 2016
(the “Shops at Crystals 2016-CSTL TSA”). Pursuant to Section 7.1(d) of the Shops at Crystals
2016-CSTL TSA, Situs
Holdings, LLC, a Delaware limited
liability company, was removed as special servicer of The Shops at Crystals
Mortgage Loan and KeyBank National Association (“KeyBank”), a national
banking association, was appointed
as the successor special servicer of The Shops at Crystals Mortgage Loan under
the Shops at Crystals 2016-CSTL
TSA.
In the interest of transaction management, this
Current Report on Form 8-K is being filed to record that, effective as of April
3, 2023, The Shops at Crystals Mortgage Loan will be specially serviced, if
necessary, pursuant to the Shops at Crystals 2016-CSTL TSA, by KeyBank. The principal
servicing offices of KeyBank are located at 11501 Outlook Street, Suite 300,
Overland Park, Kansas 66211.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Wells Fargo Commercial Mortgage Securities, Inc.
(Depositor)
/s/ Anthony Sfarra
Anthony Sfarra, President
Date: April 3, 2023