Benchmark 2019-B14 Mortgage Trust

Tranches, pool and monthly delinquency indicator for Benchmark 2019-B14 Mortgage Trust.

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

Current pool balance: $1.14B (September 2026)
Original pool balance: $1.32B
Loans at issuance: 61
Closing date: 2019-11-21
Weighted average coupon at issuance: 3.82%
Weighted average LTV at issuance: 64.1%
30+ delinquent (latest): 7.14%
Realized stress score: 66.4
Net rating change since issuance: +0.61 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$22.8M	98.23%	2.072% fixed	08162YAA0	PIF	WR	NR	not yet reported	not yet reported
A-2	$249.6M	78.87%	2.915% fixed	08162YAB8	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-3	$55.5M	74.57%	3.090% fixed	08162YAC6	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-4	$187.0M	60.07%	2.795% fixed	08162YAD4	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-5	$350.6M	32.87%	3.049% fixed	08162YAE2	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-S	$127.3M	23.00%	3.352% floating (WAC)	08162YAF9	A-	AAA	A+ (sf)	not yet reported	not yet reported
A-SB	$37.0M	20.13%	2.957% fixed	08162YAG7	AAA	AAA	AAA (sf)	not yet reported	not yet reported
B	$61.2M	15.38%	3.493% floating (WAC)	08162YAH5	BBB-	AA-	NR	not yet reported	not yet reported
C	$53.2M	11.25%	3.781% floating (WAC)	08162YAJ1	BB-	A-	NR	not yet reported	not yet reported
D	$33.8M	8.63%	2.500% fixed	08162YAM4	B-	BBB	NR	not yet reported	not yet reported
E	$25.8M	6.63%	2.500% fixed	08162YAR3	CCC	BB-	NRprelim	not yet reported	not yet reported
F-RR	$24.2M	4.75%	3.781% floating (WAC)	08162YAU6	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
G-RR	$12.9M	3.75%	3.781% floating (WAC)	08162YAW2	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
NR-RR	$48.3M	0.00%	3.781% floating (WAC)	08162YAY8	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	08162YBB7	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	08162YBA9	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$1.03B	Interest only	0.796% floating	08162YAK8	A-	AAA	A+ (sf)	not yet reported	not yet reported
X-B	$114.4M	Interest only	0.154% floating	08162YAL6	BBB-	AAA	NR	not yet reported	not yet reported
X-D	$59.6M	Interest only	1.281% floating	08162YAP7	CCC	BB-	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	61
Original loan balance	$1.56B
Weighted average coupon	3.82%
Weighted average LTV	64.1%
Median loan LTV	63.3%
Full-term interest only (share of balance)	61.1%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	4.7%
Five largest loans (share of balance)	19.3%
Occupancy at issuance (weighted average)	94.9%

Realized outcomes

Months reported	83
Peak 30+ delinquency	8.62% (December 2023)
Ever severe (share of original balance)	19.67%
Ever modified (share of original balance)	6.73%
Past scheduled maturity (share of original balance)	11.84%
Non-performing matured (share of original balance)	65.37%
Maximum servicer advances (share of balance)	0.71%
Median DSCR, first year	1.62
Median DSCR, latest	1.71
Realized stress score	66.4

Property types

Property type	Original balance	Share of pool
Office	$372.0M	23.9%
Multifamily	$341.4M	21.9%
Mixed use	$235.8M	15.1%
Retail	$191.2M	12.3%
Industrial	$100.0M	6.4%
Self storage	$72.5M	4.7%
Lodging	$49.5M	3.2%
SE	$36.8M	2.4%
Warehouse	$8.0M	0.5%

Property type is reported for 90.3% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
Watergate Office Building	Washington DC, DC	$73.0M	4.7%	3.73%	2019
225 Bush Street	San Francisco, CA	$60.0M	3.9%	3.30%	2019
Innovation Park	Charlotte, NC	$60.0M	3.9%	3.50%	2019
The Essex	New York, NY	$56.9M	3.7%	2.76%	2019
180 Water Street	not yet reported	$50.0M	3.2%	3.41%	2019

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	14 of 19
Net rating change since issuance	+0.61 notches (balance-weighted)
Delinquency threshold crossed	May 2020
First downgrade	November 2023

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.