GS Mortgage Securities Trust 2019-GC38

Tranches, pool and monthly delinquency indicator for GS Mortgage Securities Trust 2019-GC38.

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

Current pool balance: $756.4M (February 2019)
Original pool balance: $756.4M
Loans at issuance: 36
Closing date: 2019-02-27
Weighted average coupon at issuance: 4.86%
Weighted average LTV at issuance: 45.6%
30+ delinquent (latest): 0.00%
Realized stress score: 0.0
Net rating change since issuance: +0.00 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$9.3M	98.77%	2.972% fixed	36252SAS6	PIF	WR	NR	not yet reported	not yet reported
A-2	$77.5M	88.53%	3.872% fixed	36252SAT4	PIF	WR	NR	not yet reported	not yet reported
A-3	$190.0M	63.41%	3.703% fixed	36252SAU1	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-4	$235.7M	32.26%	3.968% fixed	36252SAV9	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-AB	$17.1M	30.00%	3.835% fixed	36252SAW7	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-S	$60.5M	22.00%	4.158% fixed	36252SAZ0	AAA	AAA	AA (sf)	not yet reported	not yet reported
B	$36.9M	17.13%	4.309% fixed	36252SBA4	AA-	AA	NR	not yet reported	not yet reported
C	$35.0M	12.50%	4.761% fixed	36252SBB2	A-	A-	NR	not yet reported	not yet reported
D	$20.9M	9.74%	3.000% fixed	36252SAA5	BBB	BBB+	NRprelim	not yet reported	not yet reported
E-RR	$17.9M	7.38%	4.836% floating	36252SAE7	BBB-	BBB-	NR	not yet reported	not yet reported
F-RR	$9.5M	6.13%	4.836% floating	36252SAG2	BB+	BB+	NR	not yet reported	not yet reported
G-RR	$8.5M	5.00%	4.836% floating	36252SAJ6	BB-	BB-	NRprelim	not yet reported	not yet reported
H-RR	$7.6M	4.00%	4.836% floating	36252SAL1	B-	B	NR	not yet reported	not yet reported
I-RR	$30.3M	0.00%	4.836% floating	36252SAN7	not yet reported	not yet reported	NRprelim	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	36252SAQ0	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	36252SBD8	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$590.0M	Interest only	0.966% floating	36252SAX5	AAA	AAA	AA (sf)	not yet reported	not yet reported
X-B	$71.9M	Interest only	0.307% floating	36252SAY3	A-	AAA	NR	not yet reported	not yet reported
X-D	$20.9M	Interest only	1.836% floating	36252SAC1	BBB	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	36
Original loan balance	$756.7M
Weighted average coupon	4.86%
Weighted average LTV	45.6%
Median loan LTV	61.2%
Full-term interest only (share of balance)	71.9%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	8.6%
Five largest loans (share of balance)	33.5%
Occupancy at issuance (weighted average)	92.7%

Realized outcomes

Months reported	1
Peak 30+ delinquency	0.00% (February 2019)
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)	0.00%
Maximum servicer advances (share of balance)	0.00%
Median DSCR, first year	not yet reported
Median DSCR, latest	not yet reported
Realized stress score	0.0

Property types

Property type	Original balance	Share of pool
Retail	$172.0M	22.7%
Office	$148.8M	19.7%
Mixed use	$107.0M	14.1%
Industrial	$102.5M	13.6%
Multifamily	$91.9M	12.1%
Self storage	$67.4M	8.9%
Lodging	$67.0M	8.9%

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
365 Bond	Brooklyn, NY	$65.0M	8.6%	4.02%	2018
Torrance Towne Center	Torrance, CA	$52.0M	6.9%	4.78%	2018
Pace Gallery HQ	New York, NY	$50.0M	6.6%	5.15%	2019
Heitman Life Storage Portfolio	not yet reported	$45.4M	6.0%	4.41%	2018
Albertsons Industrial - IL	Melrose Park, IL	$41.4M	5.5%	3.86%	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	17 of 19
Net rating change since issuance	+0.00 notches (balance-weighted)
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.