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

Citigroup Commercial Mortgage Trust 2016-P5

(Exact name of issuing entity)

(Central Index Key number of issuing entity: 0001684093)

Citigroup Commercial Mortgage Securities Inc.

(Exact name of the depositor as specified in its charter)

(Central Index Key number of depositor: 0001258361)

Citigroup Global Markets Realty Corp.

(Central Index Key number: 0001541001)

Barclays Bank PLC

(Central Index Key number: 0000312070)

Starwood Mortgage Funding V LLC

(Central Index Key number: 0001682509)

Principal Commercial Capital

(Central Index Key number: 0001634437)

(Exact name of sponsors as specified in their charters)

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:

Item 1.01.        Entry into a Material Definitive Agreement.

On October 18, 2016 (the “Closing Date”), Citigroup Commercial Mortgage Trust 2016-P5 (the “Issuing Entity”) issued the Citigroup Commercial Mortgage Trust 2016-P5, Commercial Mortgage Pass-Through Certificates, Series 2016-P5, pursuant to a Pooling and Servicing Agreement, dated as of October 1, 2016 (the “Pooling and Servicing Agreement”), between Citigroup Commercial Mortgage Securities Inc., as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, LNR Partners, LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer, Citibank, N.A., as certificate administrator, and Deutsche Bank Trust Company Americas, as trustee. The Pooling and Servicing Agreement was filed as Exhibit 4.1 to the Current Report on Form 8-K with respect to the Issuing Entity, dated October 18, 2016 and filed with the Securities and Exchange Commission (the “Commission”) on October 18, 2016. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement.

As of the Closing Date, the Plaza America I & II Loan Combination was required to be serviced and administered pursuant to the Pooling and Servicing Agreement.

On November 3, 2016, the Plaza America I & II Controlling Pari Passu Companion Loan was contributed to the commercial mortgage securitization transaction involving the issuance of the Wells Fargo Commercial Mortgage Trust 2016-C36, Commercial Mortgage Pass-Through Certificates, Series 2016-C36 (the “WFCM 2016-C36 Certificates”). Upon the issuance of the WFCM 2016-C36 Certificates, the servicing and administration of the Plaza America I & II Loan Combination is required to be transferred from the Pooling and Servicing Agreement to the pooling and servicing agreement governing the issuance of the WFCM 2016-C36 Certificates, dated as of November 1, 2016 (the “WFCM 2016-C36 Pooling and Servicing Agreement”), between Wells Fargo Commercial Mortgage Securities, Inc., as depositor (the “WFCM 2016-C36 Depositor”), Wells Fargo Bank, National Association, as general master servicer, C-III Asset Management LLC, as general special servicer, National Cooperative Bank, N.A., as NCB master servicer and NCB special servicer, Wells Fargo Bank, National Association, as certificate administrator, Wilmington Trust, National Association, as trustee, and Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer.

The WFCM 2016-C36 Pooling and Servicing Agreement, in the form most recently filed with the Commission by or on behalf of the WFCM 2016-C36 Depositor, is attached hereto as Exhibit 4.1.

Item 9.01.        Financial Statements and Exhibits.

(d)       Exhibits

Pursuant to the requirements of the Securities Exchange Act of 1934, the depositor has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CGCMT 2016-P5 – Form 8-K

INDEX TO EXHIBITS