☐ Emerging growth company - Form 8-K

wcm16l24_8k-04032023.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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)

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:

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.

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, 2016relating 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-CSTLTSA"). Pursuant to Section 7.1(d) of the Shops at Crystals 2016-CSTLTSA, 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-CSTLTSA.

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-CSTLTSA, 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)

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