Wells Fargo Commercial Mortgage Trust 2019-C51

Tranches, pool and monthly delinquency indicator for Wells Fargo Commercial Mortgage Trust 2019-C51.

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

Current pool balance: $634.9M (September 2026)
Original pool balance: $729.5M
Loans at issuance: 56
Closing date: 2019-07-11
Weighted average coupon at issuance: 4.54%
Weighted average LTV at issuance: 49.4%
30+ delinquent (latest): 0.00%
Realized stress score: 25.6
Net rating change since issuance: +0.06 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$22.4M	96.93%	2.276% fixed	95001VAQ3	PIF	WR	not yet reported	WR	not yet reported
A-2	$45.5M	90.70%	3.039% fixed	95001VAR1	PIF	WR	not yet reported	WR	not yet reported
A-3	$200.0M	63.28%	3.055% fixed	95001VAT7	AAA	AAA	not yet reported	Aaa	not yet reported
A-4	$213.3M	34.03%	3.311% fixed	95001VAU4	AAA	AAA	not yet reported	Aaa	not yet reported
A-S	$62.0M	25.53%	3.584% fixed	95001VAX8	AAA	AAA	not yet reported	Aa3	not yet reported
A-SB	$29.4M	21.50%	3.160% fixed	95001VAS9	AAA	AAA	not yet reported	Aaa	not yet reported
B	$36.5M	16.50%	3.836% floating (WAC)	95001VAY6	AA-	AA-	not yet reported	not yet reported	not yet reported
C	$31.9M	12.13%	4.289% floating (WAC)	95001VAZ3	A-	A-	not yet reported	not yet reported	not yet reported
D	$11.5M	10.55%	3.000% fixed	95001VAC4	BBB+	BBB+	not yet reported	not yet reported	not yet reported
E-RR	$25.9M	7.00%	4.667% floating (WAC)	95001VAE0	BB	BBB-	not yet reported	not yet reported	not yet reported
F-RR	$18.2M	4.50%	4.667% floating (WAC)	95001VAG5	B-	BB-	not yet reported	not yet reported	not yet reported
G-RR	$7.3M	3.50%	4.667% floating (WAC)	95001VAJ9	CCC	B	not yet reported	not yet reported	not yet reported
H-RR	$25.5M	0.00%	4.667% floating (WAC)	95001VAL4	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	95001VAN0	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$510.6M	Interest only	1.535% floating	95001VAV2	AAA	AAA	not yet reported	Aaa	not yet reported
X-B	$130.4M	Interest only	0.840% floating	95001VAW0	A-	AAA	not yet reported	not yet reported	not yet reported
X-D	$11.5M	Interest only	1.667% floating	95001VAA8	BBB+	BBB+	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	56
Original loan balance	$737.6M
Weighted average coupon	4.54%
Weighted average LTV	49.4%
Median loan LTV	63.6%
Full-term interest only (share of balance)	69.9%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	9.6%
Five largest loans (share of balance)	34.3%
Occupancy at issuance (weighted average)	91.1%

Realized outcomes

Months reported	86
Peak 30+ delinquency	4.95% (June 2020)
Ever severe (share of original balance)	3.29%
Ever modified (share of original balance)	1.32%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	18.65%
Maximum servicer advances (share of balance)	0.15%
Median DSCR, first year	1.76
Median DSCR, latest	1.80
Realized stress score	25.6

Property types

Property type	Original balance	Share of pool
Office	$276.0M	37.4%
Retail	$144.4M	19.6%
Self storage	$71.4M	9.7%
Mixed use	$54.1M	7.3%
Other (code 98)	$41.0M	5.6%
Lodging	$33.8M	4.6%
Multifamily	$30.3M	4.1%
Manufactured housing	$13.9M	1.9%

Property type is reported for 90.1% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
NOVA PLACE	Pittsburgh, PA	$71.0M	9.6%	4.19%	2019
188 SPEAR STREET	San Francisco, CA	$47.0M	6.4%	3.57%	2019
Defeased	not yet reported	$45.0M	6.1%	5.15%	2019
450-460 PARK AVENUE SOUTH	New York, NY	$45.0M	6.1%	3.70%	2019
EL CON CENTER	Tucson, AZ	$45.0M	6.1%	4.82%	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	17 of 17
Classes with a current rating in the dataset	15 of 17
Net rating change since issuance	+0.06 notches (balance-weighted)
Delinquency threshold crossed	May 2020
First downgrade	September 2024

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.