Benchmark 2018-B1 Mortgage Trust

Tranches, pool and monthly delinquency indicator for Benchmark 2018-B1 Mortgage Trust.

Data as of loan data through September 2026; ratings as held in the dataset at build

Current pool balance: $745.7M (September 2026)
Original pool balance: $1.17B
Loans at issuance: 190
Closing date: 2018-01-31
Weighted average coupon at issuance: 4.16%
Weighted average LTV at issuance: 33.3%
30+ delinquent (latest): 21.54%
Realized stress score: 75.8
Net rating change since issuance: +0.65 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$18.7M	98.34%	2.560% fixed	08162PAS0	PIF	WR	NR	not yet reported	not yet reported
A-2	$157.6M	84.34%	3.571% fixed	08162PAT8	PIF	WR	NR	not yet reported	not yet reported
A-3	$49.3M	79.96%	3.355% fixed	08162PAU5	PIF	WR	NR	not yet reported	not yet reported
A-4	$135.0M	67.97%	3.402% fixed	08162PAW1	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-5	$387.1M	33.59%	3.666% floating (WAC)	08162PAX9	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-M	$97.1M	24.97%	3.878% floating (WAC)	08162PAZ4	AAA	AAA	AA- (sf)	not yet reported	not yet reported
A-SB	$40.4M	21.38%	3.602% floating (WAC)	08162PAV3	AAA	AAA	AAA (sf)	not yet reported	not yet reported
B	$47.9M	17.13%	4.059% floating (WAC)	08162PBA8	A	AA	BBB (sf)	not yet reported	not yet reported
C	$52.1M	12.50%	4.119% floating (WAC)	08162PBB6	BBB-	A-	B- (sf)	not yet reported	not yet reported
D	$60.5M	7.13%	2.750% fixed	08162PAG6	B-	BB	NR	not yet reported	not yet reported
E	$25.3M	4.88%	3.000% floating (WAC)	08162PAJ0	CCC	B-	NRprelim	not yet reported	not yet reported
F-RR	$14.1M	3.63%	4.119% floating (WAC)	08162PAM3	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
G-RR	$40.8M	0.00%	4.119% floating (WAC)	08162PAP6	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	08162PAR2	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
S	not yet reported	not yet reported	not yet reported	08162PBC4	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$885.3M	Interest only	0.530% floating	08162PAY7	AAA	AAA	AA- (sf)	not yet reported	not yet reported
X-B	$47.9M	Interest only	0.060% floating	08162PAA9	A	AAA	BBB (sf)	not yet reported	not yet reported
X-D	$60.5M	Interest only	1.369% floating	08162PAC5	B-	BB	NRprelim	not yet reported	not yet reported
X-E	$25.3M	Interest only	1.119% floating	08162PAE1	CCC	B-	NRprelim	not yet reported	not yet reported

Credit support is computed from the class stack order in the prospectus: the share of the deal's principal balance in classes junior to the class. Interest-only classes carry a notional balance and no principal support figure. Ratings are the latest held in the dataset for each class and agency; NR means the agency shows the class as not rated, WR that the rating was withdrawn, PIF that the class has been paid in full. Any other status value is shown exactly as the agency reports it. A + after a CUSIP marks a class with companion CUSIPs in the dataset.

Pool at issuance

Loans	190
Original loan balance	$1.56B
Weighted average coupon	4.16%
Weighted average LTV	33.3%
Median loan LTV	5.4%
Full-term interest only (share of balance)	63.5%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	4.5%
Five largest loans (share of balance)	19.0%
Occupancy at issuance (weighted average)	91.7%

Realized outcomes

Months reported	105
Peak 30+ delinquency	21.54% (September 2026)
Ever severe (share of original balance)	21.28%
Ever modified (share of original balance)	2.86%
Past scheduled maturity (share of original balance)	4.27%
Non-performing matured (share of original balance)	60.10%
Maximum servicer advances (share of balance)	0.45%
Median DSCR, first year	2.83
Median DSCR, latest	1.62
Realized stress score	75.8

Property types

Property type	Original balance	Share of pool
Office	$219.1M	14.0%
Mixed use	$204.7M	13.1%
Lodging	$172.8M	11.1%
Retail	$91.7M	5.9%
Multifamily	$80.1M	5.1%
Self storage	$16.6M	1.1%
Manufactured housing	$4.7M	0.3%

Property type is reported for 50.6% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
90 HUDSON	Jersey City, NJ	$70.0M	4.5%	4.14%	2017
VALENCIA TOWN CENTER	Santa Clarita, CA	$58.0M	3.7%	4.19%	2017
THE WOODS	not yet reported	$57.5M	3.7%	2.94%	2017
Loan 1A	not yet reported	$56.8M	3.6%	4.13%	2018
Griffin Portfolio	not yet reported	$55.0M	3.5%	3.77%	2017

Delinquency and stress indicator

▬ 30+ days delinquent · ▬ Distressed (90+, foreclosure, REO, non-performing matured)

Monthly shares of the deal's reported balance, from the deal indicator series in the dataset. Months in which fewer than half of the reported loans carry a delinquency status code are not plotted.

Ratings

Classes with a CUSIP	19 of 19
Classes with a current rating in the dataset	15 of 19
Net rating change since issuance	+0.65 notches (balance-weighted)
Delinquency threshold crossed	May 2020
First downgrade	November 2020

Sources: SEC Form ABS-EE asset-level reports, Form 10-D distribution reports and the deal prospectus; rating histories published under SEC Rule 17g-7(b) and agency releases. Definitions are in the methods note on the market page.