On August 28, 2026, Deutsche Mortgage & Asset Receiving Corporation caused the issuance of Benchmark 2026-V23 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2026-V23 (the “Certificates”). The transaction was finalized on the Closing Date of August 28, 2026. The Certificates, along with an uncertificated interest representing a specified percentage of collections on the underlying loans, represent the entire beneficial ownership of Benchmark 2026-V23 Mortgage Trust, a common law trust fund organized under New York law.
The trust’s assets consist of 30 fixed-rate commercial mortgage loans secured by first liens on 58 commercial, multifamily, and manufactured housing properties. The transaction is governed by a Pooling and Servicing Agreement dated August 1, 2026. Key parties involved in the agreement include Midland Loan Services, a Division of PNC Bank, National Association, as master servicer; K-Star Asset Management LLC, as special servicer; Computershare Trust Company, National Association, as trustee, certificate administrator, paying agent, and custodian; and Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer.
The trust holds a specific loan identified as the “Franklin 8 Pack” Mortgage Loan, which is part of a larger whole loan structure. This whole loan includes companion loans that are not assets of the trust. As of September 30, 2026, the servicing and administration of the Franklin 8 Pack Whole Loan is handled under a separate Pooling and Servicing Agreement dated September 1, 2026, among Barclays Commercial Mortgage Securities LLC, Midland Loan Services, CWCapital Asset Management LLC, Computershare Trust Company, and Pentalpha Surveillance LLC. The terms of this separate agreement are materially similar to the terms governing the other Mortgage Loans, with specific differences detailed in the Prospectus filed with the SEC on August 18, 2026.
