Benchmark 2025-V19 Mortgage Trust

Tranches, pool and monthly delinquency indicator for Benchmark 2025-V19 Mortgage Trust.

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

Current pool balance: $588.7M (September 2026)
Original pool balance: $588.7M
Loans at issuance: 28
Closing date: 2025-12-01
Weighted average coupon at issuance: 6.29%
Weighted average LTV at issuance: 48.4%
30+ delinquent (latest): 0.00%
Realized stress score: 8.0
Net rating change since issuance: not yet reported

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-2	$75.0M	87.17%	4.767% fixed	08164DAA4	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
A-3	$334.2M	30.00%	5.249% fixed	08164DAB2	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
A-S	$49.0M	21.63%	5.597% floating (WAC)	08164DAC0	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
B	$31.4M	16.25%	5.899% floating (WAC)	08164DAD8	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
C	$23.4M	12.25%	5.751% floating (WAC)	08164DAE6	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
D	$21.9M	8.50%	4.500% fixed	08164DAF3 +	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
E-RR	$13.9M	6.13%	4.150% fixed	08164DAJ5	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
F-RR	$8.8M	4.63%	4.150% fixed	08164DAL0	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
G-RR	$27.0M	0.00%	4.150% fixed	08164DAN6	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	08164DBB1	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$409.2M	Interest only	1.104% floating	08164DAP1	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-B	$103.8M	Interest only	0.542% floating	08164DAQ9	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-D	$21.9M	Interest only	1.765% floating	08164DAR7 +	not yet reported	not yet reported	not yet reported	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	28
Original loan balance	$588.7M
Weighted average coupon	6.29%
Weighted average LTV	48.4%
Median loan LTV	60.7%
Full-term interest only (share of balance)	100.0%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	9.9%
Five largest loans (share of balance)	42.6%
Occupancy at issuance (weighted average)	91.0%

Realized outcomes

Months reported	10
Peak 30+ delinquency	0.00% (January 2026)
Ever severe (share of original balance)	0.00%
Ever modified (share of original balance)	0.00%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	53.38%
Maximum servicer advances (share of balance)	0.03%
Median DSCR, first year	1.60
Median DSCR, latest	1.65
Realized stress score	8.0

Property types

Property type	Original balance	Share of pool
Retail	$126.8M	21.5%
Lodging	$110.2M	18.7%
Self storage	$97.6M	16.6%
Multifamily	$94.0M	16.0%
Industrial	$81.3M	13.8%
Office	$51.0M	8.7%
Manufactured housing	$27.7M	4.7%

Property type is reported for 100.0% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
Fairfield Inn by Marriott Central Park	New York, NY	$58.5M	9.9%	7.14%	2025
["8321 Pines Boulevard", "820 N Delsea", "6504 S Crescent Blvd", "714 S Harding Hwy", "2010 S University Ave", "Etude Self Storage Portfolio", "2240 Island Ave", "1849 SW South Macedo Blvd", "2211 112th Street South", "1851 S East Ave", "8015 Geyer Springs Rd", "6100 Leon Circle"]	["Pembroke Pines", "Vineland", "Pennsauken", "Buena", "Little Rock", "Little Rock", "Philadelphia", "Port Saint Lucie", "Tacoma", "Vineland", "Little Rock", "Little Rock"], ["FL", "NJ", "NJ", "NJ", "AR", "AR", "PA", "FL", "WA", "NJ", "AR", "AR"]	$58.5M	9.9%	6.12%	2025
Amazon LAX	Los Angeles, CA	$58.5M	9.9%	5.51%	2025
Empire Mall	Sioux Falls, SD	$40.0M	6.8%	6.72%	2025
Hilton Christiana	Newark, DE	$35.0M	5.9%	6.84%	2025

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	13 of 13
Classes with a current rating in the dataset	0 of 13
Net rating change since issuance	not yet reported
Delinquency threshold crossed	Not crossed in the dataset
First downgrade	None recorded

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.