Benchmark 2026-B42 Mortgage Trust 8-K

What Happened

• On March 12, 2026, Deutsche Mortgage & Asset Receiving Corporation (the “Registrant”) closed the issuance of the Benchmark 2026-B42 Mortgage Trust Commercial Mortgage Pass‑Through Certificates, Series 2026-B42 under a Pooling and Servicing Agreement dated March 1, 2026.
• The offering included Publicly Offered Certificates (Classes A-1, A-2, A-4, A-5, A-SB, X-A, X-B, A-S) with an aggregate certificate balance of $583,124,000 sold to underwriters (Deutsche Bank Securities, Citigroup Global Markets, Goldman Sachs, Barclays, UBS, BMO Capital, Drexel Hamilton and Mischler).
• The Registrant also sold Privately Offered Certificates (Classes X-F, B, C, D, E, F, G-RR, J-RR, K-RR, S and R) with an aggregate certificate balance of $125,842,365 in private placements to the Initial Purchasers. Sidley Austin provided the legal and tax opinions filed as exhibits.

Key Details

• Total certificates issued (public + private): $708,966,365 aggregate certificate balance.
• Net proceeds to the Registrant from the public offering (after expenses of ~$6.1M): approximately $760,228,044.
• Credit risk retention: German American Capital Corporation (GACC) satisfied Reg RR retention by purchasing a VRR Interest (~2.775% of initial certificate balances) and third‑party purchasers (KKR Real Estate Finance Holdings L.P. and Forethought Life Insurance Company) purchased HRR Certificates with an aggregate initial balance of $36,335,365 (HRR fair value ~$17,294,409, ~2.257% of aggregate ABS fair value ~$766,279,887).
• Underwriting Agreement dated February 23, 2026; Preliminary Prospectus dated February 18, 2026 and Prospectus dated February 24, 2026 govern the public offering.

Why It Matters

• The filing documents the closing of a sizable commercial mortgage securitization (roughly $709M in certificate balances) and provides the offering economics and distribution of classes between public and private investors.
• Investors and market participants should note the registrar’s reported net proceeds and the parties that underwrote and purchased tranches, as these determine who holds exposure to specific certificate classes.
• The disclosure confirms compliance with Regulation RR (credit risk retention), which is important to regulatory standing and the structure of the transaction; it also provides the specific retention mechanics (VRR + HRR) and fair‑value figures used.
• For tranche‑level pricing and more detail on class‑specific allocations, see the Underwriting Agreement and the Prospectus referenced in the filing.