Benchmark 2018-B8 Mortgage Trust

Tranches, pool and monthly delinquency indicator for Benchmark 2018-B8 Mortgage Trust.

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

Current pool balance: $933.3M (September 2026)
Original pool balance: $1.05B
Loans at issuance: 45
Closing date: 2018-12-27
Weighted average coupon at issuance: 4.90%
Weighted average LTV at issuance: 35.9%
30+ delinquent (latest): 0.00%
Realized stress score: 54.7
Net rating change since issuance: +0.28 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$10.0M	99.05%	3.314% fixed	08162UAS9	PIF	WR	NR	not yet reported	not yet reported
A-2	$102.7M	89.26%	4.149% fixed	08162UAT7	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-3	$4.5M	88.83%	3.982% fixed	08162UAU4	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-4	$115.0M	77.86%	3.963% fixed	08162UAV2	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-5	$478.3M	32.27%	4.232% fixed	08162UAW0	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-S	$102.3M	22.52%	4.532% fixed	08162UBA7	AA	AAA	NRprelim	not yet reported	not yet reported
A-SB	$23.8M	20.25%	4.128% fixed	08162UAX8	AAA	AAA	AAA (sf)	not yet reported	not yet reported
B	$51.1M	15.38%	4.733% fixed	08162UBB5	A	AA-	NRprelim	not yet reported	not yet reported
C	$42.0M	11.37%	4.875% floating (WAC)	08162UBC3	BBB	A-	NRprelim	not yet reported	not yet reported
D	$23.0M	9.18%	3.000% fixed	08162UAC4	BB	BBB	NR	not yet reported	not yet reported
E-RR	$22.9M	7.00%	4.875% floating (WAC)	08162UAE0	BB	BB	NRprelim	not yet reported	not yet reported
F-RR	$22.3M	4.87%	4.875% floating (WAC)	08162UAG5	B-	CCC	NR	not yet reported	not yet reported
G-RR	$10.5M	3.88%	4.875% floating (WAC)	08162UAJ9	CCC	CCC-	NRprelim	not yet reported	not yet reported
NR-RR	$40.6M	0.00%	4.875% floating (WAC)	08162UAL4	not yet reported	not yet reported	NRprelim	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	08162UAQ3	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	08162UAN0	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$836.6M	Interest only	0.669% floating	08162UAY6	AA	AAA	NRprelim	not yet reported	not yet reported
X-B	$51.1M	Interest only	0.142% floating	08162UAZ3	A	AAA	NRprelim	not yet reported	not yet reported
X-D	$23.0M	Interest only	1.875% floating	08162UAA8	BB	BBB	NR	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	45
Original loan balance	$1.21B
Weighted average coupon	4.90%
Weighted average LTV	35.9%
Median loan LTV	53.8%
Full-term interest only (share of balance)	74.0%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	4.9%
Five largest loans (share of balance)	23.3%
Occupancy at issuance (weighted average)	92.5%

Realized outcomes

Months reported	94
Peak 30+ delinquency	9.20% (November 2023)
Ever severe (share of original balance)	14.40%
Ever modified (share of original balance)	15.49%
Past scheduled maturity (share of original balance)	5.77%
Non-performing matured (share of original balance)	67.93%
Maximum servicer advances (share of balance)	0.44%
Median DSCR, first year	1.82
Median DSCR, latest	1.84
Realized stress score	54.7

Property types

Property type	Original balance	Share of pool
Office	$529.6M	43.6%
Retail	$280.8M	23.1%
Lodging	$159.3M	13.1%
Warehouse	$112.2M	9.2%
Multiple property types	$40.0M	3.3%
Self storage	$7.0M	0.6%
SE	$5.5M	0.5%

Property type is reported for 93.5% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
Aventura Mall	Aventura, FL	$60.0M	4.9%	4.12%	2018
["Staples - Hagerstown, MD", "Staples - Montgomery, NY", "Staples - Terre Haute, IN", "Staples - London, OH", "Staples - Beloit, WI", "Staples - Dayville, CT", "Staples - Arden Hills, MN", "Staples - Putnam, CT"]	["Hagerstown", "Montgomery", "Terre Haute", "London", "Beloit", "Dayville", "Arden Hills", "Putnam"], ["MD", "NY", "IN", "OH", "WI", "CT", "MN", "CT"]	$56.1M	4.6%	4.92%	2018
Staples - Hagerstown, MD	Hagerstown, MD	$56.1M	4.6%	4.92%	2018
Embassy Suites Anaheim	Garden Grove, CA	$56.0M	4.6%	5.14%	2018
Saint Louis Galleria	Saint Louis, MO	$55.0M	4.5%	5.00%	2018

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	17 of 19
Net rating change since issuance	+0.28 notches (balance-weighted)
Delinquency threshold crossed	May 2020
First downgrade	October 2022

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.