UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) December 923, 2025

Benchmark 2025-V19 Mortgage Trust

(Exact name of issuing entity)

(Central Index Key number of issuing entity: 0002093117)

Citigroup Commercial Mortgage Securities Inc.

(Exact name of the depositor as specified in its charter)

(Central Index Key number of depositor: 0001258361)

Citi Real Estate Funding Inc.

(Central Index Key number: 0001701238)

German American Capital Corporation

(Central Index Key number: 0001541294)

Goldman Sachs Mortgage Company

(Central Index Key number 0001541502)

Barclays Capital Real Estate Inc.

(Central Index Key Number 0001549574)

(Exact name of sponsors as specified in their charters)

Delaware	333-286596-02	86-1073506
(State or other jurisdiction	(Commission File Number	(IRS Employer Identification
(State or other jurisdiction of incorporation of depositor)	(Commission File Number of issuing entity)	(IRS Employer Identification No. of depositor)
of incorporation of depositor)	of issuing entity)	No. of depositor)

388 Greenwich Street New York, New York	10013
(Address of principal executive offices of depositor)	(Zip Code of depositor)

Depositor’s telephone number, including area code

(212) 816-5343

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

On December 923, 2025 (the “Closing Date”), Citigroup ~~Global~~Commercial ~~Markets~~Mortgage Securities Inc. (the “~~CGMI~~Depositor”) caused the issuance, pursuant ~~Deutsche~~to ~~Bank~~a ~~Securities~~Pooling ~~Inc.~~and ~~(“DBSI”)~~Servicing Agreement, ~~Goldman~~dated ~~Sachs~~as &of ~~Co.~~December ~~LLC~~1, 2025 (the “~~GS&Co.~~Pooling and Servicing Agreement”), between ~~Barclays~~the ~~Capital~~Depositor, ~~Inc.~~as ~~(“BCI”)~~depositor, ~~Drexel~~Midland ~~Hamilton~~Loan Services, ~~LLC~~a ~~(“Drexel”)~~Division ~~and~~of ~~Mischler~~PNC ~~Financial~~Bank, ~~Group~~National Association, ~~Inc.~~as ~~(“Mischler”~~master servicer and as special servicer, ~~collectively~~Park ~~with~~Bridge ~~CGMI~~Lender Services LLC, ~~DBSI~~ as operating advisor and as asset representations reviewer, ~~GS&Co~~Citibank, N.A., ~~BCI~~as certificate administrator, and ~~Drexel,~~Wilmington inSavings ~~such~~Fund ~~capacity~~Society, ~~the~~FSB, ~~“Underwriters”)~~as trustee, ~~entered~~of ~~into~~the anBenchmark ~~agreement~~2025-V19 ~~with~~Mortgage ~~Citigroup~~Trust (the “Issuing Entity”), Commercial Mortgage ~~Securities~~Pass-Through ~~Inc.~~Certificates, Series 2025-V19 (the “~~Depositor~~Certificates”), ~~dated~~and asan ofuncertificated ~~December~~risk 9,retention interest ~~2025~~in the Issuing Entity (the “~~Underwriting~~Uncertificated ~~Agreement~~VRR Interest”),. ~~which~~Capitalized isterms ~~attached~~used ~~hereto~~but asnot ~~Exhibit~~defined 1,herein ~~with~~shall have ~~respect~~the meanings assigned to them in the ~~sale~~Pooling ofand ~~the~~Servicing ~~Public~~Agreement. ~~Certificates~~The ~~(as~~Pooling ~~defined~~and ~~below)~~Servicing ~~scheduled~~Agreement was attached as Exhibit 4.1 to ~~occur~~the onDepositor’s orCurrent ~~about~~Report ~~December~~on 23Form 8-K/A, ~~2025~~filed (with the ~~exact~~Securities ~~date~~and ofExchange ~~such~~Commission ~~sale,~~ (the “~~Closing Date~~Commission”). ~~The~~on ~~Public~~December ~~Certificates~~23, ~~are~~2025 ~~expected~~under toCommission ~~have~~File anNo. ~~aggregate~~333-286596-02 ~~initial~~(the ~~principal~~“Form ~~amount of $512,967,000~~8-K/A”).

The ~~Depositor~~Certificates ~~also~~consist of ~~entered~~the ~~into~~following anclasses, ~~agreement~~designated toas ~~sell~~(i) the ~~Private~~Class ~~Certificates~~A-2, ~~(as~~Class ~~defined below)~~A-3, ~~having~~Class ~~an aggregate initial principal amount of $71~~X-A,~~611,299,~~ toClass ~~CGMI~~X-B, ~~DBSI,~~Class ~~GS&Co.~~A-S, ~~BCI,~~Class ~~Drexel~~B and ~~Mischler~~Class C Certificates (collectively ~~in such capacity~~, the “~~Initial~~Public ~~Purchasers~~Certificates”), ~~pursuant~~(ii) tothe aClass ~~purchase agreement~~X-D, ~~dated~~Class asD, ofClass ~~December 9~~XERR, ~~2025~~Class ~~(the~~XFRR, ~~“Certificate~~Class ~~Purchase~~XGRR, ~~Agreement”)~~Class E-RR, ~~among~~Class F-RR, ~~the~~Class G-RR ~~Depositor~~ and ~~the~~Class ~~Initial~~R ~~Purchasers. The Private~~ Certificates ~~will~~(collectively, bethe ~~sold~~“Private inOffered aCertificates” ~~transaction~~and, ~~exempt~~collectively with ~~from~~the ~~registration~~Public ~~under~~Certificates, the ~~Securities~~“Offered ~~Act of 1933~~Certificates”), asand ~~amended, pursuant to Section 4~~(aiii)~~(2)~~ of the ~~Act~~Class VRR Certificates.

On ~~the~~December ~~Closing~~9, ~~Date~~2025, ~~it is expected that~~ Citigroup Global ~~Commercial~~Markets ~~Mortgage Securities~~ Inc. (~~the~~ “~~Depositor~~CGMI”) ~~will cause the issuance~~, ~~pursuant~~Deutsche toBank aSecurities ~~Pooling~~Inc. ~~and Servicing Agreement~~(“DBSI”), ~~dated~~Goldman asSachs of& ~~December~~Co. ~~1, 2025~~ LLC (~~the~~ “~~Pooling and Servicing Agreement~~GS&Co.”), ~~between~~Barclays ~~the~~Capital ~~Depositor,~~Inc. ~~as depositor~~(“BCI”), ~~Midland~~Drexel ~~Loan Services~~Hamilton, aLLC ~~Division of PNC Bank, National Association, as~~(“Drexel”) ~~master servicer~~ and asMischler ~~special~~Financial ~~servicer~~Group, ~~Park~~Inc. ~~Bridge~~(“Mischler” ~~Lender Services LLC~~and, ascollectively ~~operating~~with ~~advisor and as asset representations reviewer~~CGMI, ~~Citibank~~DBSI, NGS&Co.A., asBCI ~~certificate administrator,~~ and ~~Wilmington Savings Fund Society~~Drexel, ~~FSB,~~in ~~as trustee~~such capacity, of the ~~Benchmark 2025-V19 Mortgage Trust~~“Underwriters”), ~~Commercial~~had ~~Mortgage~~entered ~~Pass-Through~~into ~~Certificates,~~an ~~Series~~agreement ~~2025-V19~~with (the ~~“Certificates”)~~Depositor, ~~and~~dated anas ~~uncertificated~~of ~~risk~~December ~~retention~~9, ~~interest~~2025 ~~in the Issuing Entity~~ (the “~~Uncertificated~~Underwriting ~~VRR Interest~~Agreement”)~~. The~~, ~~Pooling~~with ~~and~~respect ~~Servicing~~to ~~Agreement~~the issale ~~attached~~of ~~hereto~~the asPublic ~~Exhibit~~Certificates, ~~4.1.~~which ~~Capitalized terms used but not defined herein shall~~ have ~~the~~an ~~meanings~~aggregate ~~assigned~~initial toprincipal amount ~~them~~of ~~in the Pooling and Servicing Agreement~~$512,967,000.

~~The~~In ~~Certificates~~addition, ~~will~~the ~~consist~~Depositor also ofentered ~~the~~into ~~following~~an ~~classes,~~agreement ~~designated~~to assell ~~(i)~~ the ~~Class~~Private ~~A-2~~Offered Certificates, ~~Class~~which ~~A-3,~~have ~~Class~~an ~~X-A,~~aggregate ~~Class~~initial ~~X-B,~~principal ~~Class~~amount ~~A-S~~of $71,611,299, to ~~Class~~CGMI, BDBSI, ~~and~~GS&Co., ~~Class~~BCI, CDrexel ~~Certificates~~and Mischler (collectively in such capacity, the “~~Public~~Initial ~~Certificates~~Purchasers”), ~~(ii)~~pursuant to ~~the~~a ~~Class~~purchase ~~X-D~~agreement, ~~Class~~dated D,as ~~Class~~of ~~XERR~~December 9, ~~Class~~2025 ~~XFRR,~~(the ~~Class~~“Certificate ~~XGRR,~~Purchase ~~Class E-RR~~Agreement”), ~~Class F-RR,~~among ~~Class G-RR~~the Depositor and the ~~Class~~Initial RPurchasers. The Private Offered Certificates ~~(collectively~~will be sold in a transaction exempt from registration under the Securities Act of 1933, as amended (the “~~Private Certificates~~Act”), ~~and~~pursuant to Section 4(~~iii~~a)(2) of the ~~Class VRR Certificates~~Act.

~~CGMI, DBSI, GS&Co. and BCI are acting as co-lead managers in connection with the offering of the Public Certificates.~~ The Public Certificates were offered by the Underwriters for sale to the public, pursuant to the Depositor’s Preliminary Prospectus, dated December 3, 2025 and amended and supplemented by a pre-pricing supplement thereto, dated December 5, 2025, and by the Depositor’s Prospectus, dated December 9, 2025 (the “Prospectus”), in negotiated transactions or otherwise at varying prices determined at the time of sale. In connection with the issuance, and sale to the Underwriters, of the Public Certificates, a legal opinion was rendered related to the validity of, and certain federal income tax considerations relating to, the Public Certificates, which legal opinion is attached hereto as Exhibit 5.

The net proceeds of the sale of the Certificates and the Uncertificated VRR Interest ~~will~~were ~~represent,~~applied into the ~~aggregate,~~purchase by the ~~entire~~Depositor ~~beneficial~~from ~~ownership~~Citi inReal ~~Benchmark~~Estate ~~2025-V19~~Funding Inc. ~~Mortgage Trust~~ (~~the~~ “~~Issuing Entity~~CREFI”), aGoldman ~~common~~Sachs ~~law~~Mortgage ~~trust~~Company ~~fund~~(“GSMC”), ~~formed~~German ~~under~~American ~~the~~Capital ~~laws~~Corporation ofand Barclays ~~the~~Capital ~~State~~Real ofEstate ~~New York pursuant to the Pooling and Servicing Agreement~~Inc. ~~The assets~~ of the ~~Issuing~~mortgage ~~Entity~~loans ~~consist~~backing ~~primarily~~the ofCertificates ~~28 fixed-rate mortgage loans~~ (the “Mortgage Loans”) ~~secured by first liens on various types of commercial, multifamily and manufactured housing community properties~~. The net ~~Mortgage~~proceeds ~~Loans are expected~~ to ~~be acquired by~~ the Depositor ~~from~~of ~~(i)~~the ~~Citi~~offering ~~Real~~of ~~Estate~~the ~~Funding Inc. (“CREFI”)~~Certificates, ~~pursuant~~after todeducting aexpenses ~~Mortgage~~payable ~~Loan~~by ~~Purchase Agreement, dated as of~~ the ~~Closing~~Depositor ~~Date~~in ~~(the~~connection ~~“CREFI Mortgage Loan Purchase Agreement”), between~~ with the ~~Depositor~~issuance and ~~CREFI,~~distribution ~~(ii)~~of ~~Goldman~~the ~~Sachs~~Certificates ~~Mortgage~~of ~~Company (“GSMC”)~~$3,953,021, ~~pursuant~~were toapproximately ~~a Mortgage Loan Purchase Agreement~~$597,770,512. Of ~~dated as of~~ the

~~Closing~~expenses ~~Date~~paid ~~(the~~by ~~“GSMC Mortgage Loan Purchase Agreement”), between~~ the Depositor, ~~and GSMC~~approximately $287,041 ~~(iii)~~were ~~German~~paid ~~American~~directly ~~Capital Corporation (“GACC”), pursuant~~ to aaffiliates ~~Mortgage Loan Purchase Agreement, dated as~~ of the ~~Closing~~Depositor, ~~Date (the “GACC Mortgage Loan Purchase Agreement”)~~$50,000 ~~between~~in the ~~Depositor~~form ~~and~~of ~~GACC,~~fees ~~and~~were ~~(iv)~~paid ~~Barclays Capital Real Estate Inc. (“Barclays”), pursuant~~ to athe ~~Mortgage~~Underwriters ~~Loan~~and ~~Purchase~~the ~~Agreement~~Initial Purchasers, ~~dated~~$0 aswere ofpaid ~~the~~to ~~Closing~~or ~~Date~~for (the ~~“Barclays~~Underwriters ~~Mortgage Loan Purchase Agreement”~~ and, ~~collectively with~~ the ~~CREFI~~Initial ~~Mortgage Loan Purchase Agreement~~Purchasers, ~~the GSMC Mortgage Loan Purchase Agreement~~ and ~~the~~$3,615,980 ~~GACC~~were ~~Mortgage~~other ~~Loan~~expenses. All ~~Purchase~~of ~~Agreement,~~ the ~~“Mortgage~~foregoing expense ~~Loan~~amounts ~~Purchase~~are ~~Agreements”), between~~ the Depositor,’s ~~Barclays~~reasonable ~~and~~estimates ~~Barclays~~of ~~Capital~~such ~~Holdings Inc~~expenses. No ~~The~~underwriting ~~Mortgage~~discounts ~~Loan~~and ~~Purchase~~commissions ~~Agreements~~or ~~are attached hereto as Exhibits~~finder’s ~~99.1,~~fees ~~99.2,~~were ~~99.3,~~paid ~~and~~by ~~99.4,~~the ~~respectively~~Depositor.

~~The~~Further ~~assets~~information ofregarding sales ~~the Issuing Entity include several Mortgage Loans that are each part~~ of ~~a Whole Loan as described in~~ the ~~Prospectus.~~Public ~~Each~~Certificates ~~Whole Loan~~ is ~~governed~~set byforth a co-lender, intercreditor or similar agreement (each, a “Co-Lender Agreement”) between the holders of the promissory notes comprising such Whole Loan, the terms of which are described under “Description of the Mortgage Pool—The Whole Loans” in the ~~Prospectus.~~Underwriting ~~Each Co-Lender~~ Agreement ~~is attached as an exhibit hereto~~(including, as ~~identified~~to in the ~~following~~price ~~table.~~per ~~Moreover,~~class ~~certain~~ of ~~such~~Public ~~Whole~~Certificates, on ~~Loans~~Schedule ~~will~~II ~~not~~thereto) beand ~~serviced~~in ~~pursuant to~~ the ~~Pooling~~Depositor’s ~~and Servicing Agreement~~Prospectus, ~~but~~dated ~~will~~December ~~instead be serviced pursuant to a different servicing agreement (each~~9, ~~an “Outside Servicing Agreement”)~~2025. ~~Each~~The ~~such~~related ~~Outside~~registration ~~Servicing~~statement ~~Agreement~~(file ~~is attached as an exhibit hereto, as described in the~~no. ~~following~~333-286596) ~~table.~~was ~~For~~originally adeclared ~~description~~effective ofon ~~the~~June ~~servicing of the applicable Whole Loans under such Outside Servicing Agreements~~20, ~~see “The Pooling and Servicing Agreement—Servicing of the Outside Serviced Mortgage Loans” in the Prospectus~~2025.

-CREFI, in its capacity as “retaining sponsor” (as such term is defined in Regulation RR (12 C.F.R. Part 43) promulgated under Section 15G of the Securities Exchange Act of 1934, as amended (“Regulation RR”)) (the “Retaining Sponsor”), is satisfying a portion of its credit risk retention obligation under Regulation RR in connection with the securitization of the Mortgage Loans referred to above by the acquisition by CREFI and Goldman Sachs Bank USA (“GS Bank”) from the Depositor, on the Closing Date in transactions exempt from registration under the Act pursuant to Section 4(a)(2) of the Act, of their respective portions of a “single vertical security” (as defined in Regulation RR) that is an “eligible vertical interest” (as defined in Regulation RR) in the Issuing Entity, with an aggregate initial principal balance of approximately $4,120,895 as of the Closing Date, consisting of (i) the Class VRR Certificates acquired by CREFI as described below and (ii) the Uncertificated VRR Interest retained by GS Bank. The Class VRR Certificates and the Uncertificated VRR Interest are collectively referred to as the “Combined VRR Interest”. The Combined VRR Interest represents at least 0.7000% of the sum of the initial aggregate certificate balance of all of the Certificates and the initial principal balance of the Uncertificated VRR Interest as of the Closing Date. The Combined VRR Interest will entitle the holders thereof to a specified percentage of the amounts paid on each other class of “ABS interests” (as defined in Regulation RR) in the Issuing Entity. On the Closing Date, pursuant to the Mortgage Loan Purchase Agreement, dated as of the Closing Date, between GSMC and the Depositor, GS Bank, an “originator” (within the meaning of Regulation RR) of all the Mortgage Loans and/or portions thereof being sold by it (through GSMC) to the Depositor, representing approximately 41.582356% of the aggregate Cut- off Date Balance of all the Mortgage Loans, acquired (through GSMC) from the Depositor, in a transaction exempt from registration under the Act pursuant to Section 4(a)(2) of the Act, a portion of the Combined VRR Interest in the form of the Uncertificated VRR Interest with an initial principal balance of $1,713,565, in exchange for a reduction in the price that GS Bank received for its sale (through GSMC) to the Depositor of the Mortgage Loans and/or portions thereof that it originated. On the Closing Date, pursuant to the Mortgage Loan Purchase Agreement, dated as of the Closing Date, between CREFI and the Depositor, CREFI received, in a transaction exempt from registration under the Act pursuant to Section 4(a)(2) of the Act, as partial consideration for the Mortgage Loans and/or portions thereof that CREFI transferred to the Depositor, a portion of the Combined VRR Interest in the form of the Class VRR Certificates with an initial certificate balance of $2,407,330.

Name of Mortgaged Property or Portfolio of Mortgaged Properties Securing Subject Whole Loan (as identified on the Mortgage Loan Schedule to the Pooling and Servicing Agreement)	Exhibit Number of Related Co-Lender Agreement	Exhibit Number of Related Outside Servicing Agreement (if any)
Amazon LAX	4.6	–
Etude Self Storage Portfolio	4.7	–
Fairfield Inn by Marriott Central Park	4.8	–
Empire Mall	4.9	4.2
9911 Belward	4.10	4.3
CFS Industrial HQ	4.11	–
1700 Pavilion	4.12	4.4
Central Arts Plaza	4.13	4.5

CREFI, in its capacity as “retaining sponsor”, is satisfying the remainder of its credit risk retention obligation under Regulation RR in connection with the securitization of the Mortgage Loans referred to above by the purchase on the Closing Date and holding by two third-party purchasers, which are Eightfold Real Estate Capital Fund VI, L.P. and Eightfold Real Estate Capital Fund VII, L.P., in each case directly or through one or more “majority-owned affiliates” (as such term is defined in Regulation RR), of their respective proportionate shares of an “eligible horizontal residual interest” (as such term is defined in Regulation RR), consisting of all of the Class XERR, Class XFRR, Class XGRR, Class E-RR, Class F-RR and Class G-RR Certificates (collectively, the “HRR Certificates”). The HRR Certificates have an aggregate initial certificate balance of approximately $49,689,299 as of the Closing Date and a fair value equal to approximately 4.3700% of the fair value, as of the Closing Date, of all of the “ABS interests” (as

~~Further~~defined ~~information regarding sales of the Public Certificates is set forth~~ in ~~the~~Regulation ~~Underwriting~~RR) ~~Agreement~~issued ~~(including,~~by ~~as to~~ the ~~price per class of Public Certificates~~Issuing Entity, ondetermined ~~Schedule II thereto) and~~ in ~~the~~accordance ~~Depositor’s Prospectus, dated December 9, 2025. The related registration statement (file no. 333-286596) was originally declared effective on June 20, 2025. In connection~~ with ~~such~~Generally ~~Prospectus, the~~Accepted ~~principal~~Accounting ~~executive officer of the Depositor has provided the certification attached hereto as Exhibit 36~~Principles.1.

- 3 -

Item 9.01.	Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description

Exhibit 5	Legality Opinion of Orrick, Herrington & Sutcliffe LLP, dated December 23, 2025

Exhibit 8	Tax Opinion of Orrick, Herrington & Sutcliffe LLP, dated December 23, 2025 (included as part of Exhibit 5)

Exhibit 23	Consent of Orrick, Herrington & Sutcliffe LLP, dated December 23, 2025 (included as part of Exhibit 5)

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
Exhibit 1	Underwriting Agreement
Exhibit 4.1	Pooling and Servicing Agreement
Exhibit 4.2	WFCM 2025-5C7 PSA
Exhibit 4.3	Benchmark 2025-V18 PSA
Exhibit 4.4	Benchmark 2025-V15 PSA
Exhibit 4.5	BBCMS 2025-5C38 PSA
Exhibit 4.6	Amazon LAX Co-Lender Agreement
Exhibit 4.7	Etude Self Storage Portfolio Co-Lender Agreement
Exhibit 4.8	Fairfield Inn by Marriott Central Park Co-Lender Agreement
Exhibit 4.9	Empire Mall Co-Lender Agreement
Exhibit 4.10	9911 Belward Co-Lender Agreement
Exhibit 4.11	CFS Industrial HQ Co-Lender Agreement
Exhibit 4.12	1700 Pavilion Co-Lender Agreement
Exhibit 4.13	Central Arts Plaza Co-Lender Agreement
Exhibit 36.1	Depositor’s Certification for Shelf Offerings of Asset-Backed Securities in respect of that certain Prospectus dated December 9, 2025, which such certification is dated December 9, 2025
Exhibit 99.1	CREFI Mortgage Loan Purchase Agreement
Exhibit 99.2	GSMC Mortgage Loan Purchase Agreement
Exhibit 99.3	GACC Mortgage Loan Purchase Agreement
Exhibit 99.4	Barclays Mortgage Loan Purchase Agreement

Pursuant to the requirements of the Securities Exchange Act of 1934, the depositor has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: December 11, 2025	CITIGROUP COMMERCIAL MORTGAGE
Date: December 23, 2025	CITIGROUP COMMERCIAL MORTGAGE
	~~SECURITIES INC.~~	SECURITIES INC.
	By:	/s/ Richard Simpson
		Name:	Richard Simpson
		Name: Richard Simpson
		Title:	President
		Title: President

Benchmark 2025-V19 – Form 8-K (Closing)

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