Benchmark 2026-V21 Mortgage Trust 8-K

What Happened

• On March 26, 2026 (the Closing Date) GS Mortgage Securities Corporation II caused the issuance of the Benchmark 2026-V21 Mortgage Trust Commercial Mortgage Pass‑Through Certificates, Series 2026‑V21 and the creation of an uncertificated RR Interest, together representing the entire beneficial ownership of the Benchmark 2026‑V21 Mortgage Trust (the Issuing Entity). The Issuing Entity holds 41 fixed‑rate mortgage loans secured by first liens on 68 commercial, multifamily and/or manufactured housing properties. The Pooling and Servicing Agreement dated March 1, 2026 governs the trust; master servicer is KeyBank National Association, special servicer is Torchlight Loan Services, LLC, and trustee/certificate administrator is Computershare Trust Company, N.A.

Key Details

• Closing date: March 26, 2026.
• Assets: 41 fixed‑rate mortgage loans secured by first liens on 68 properties.
• Del Rey Campus loan: The Del Rey Campus Mortgage Loan in the trust is part of a whole loan that includes companion loans that are not trust assets; the whole loan is being serviced under a separate Pooling and Servicing Agreement dated May 1, 2026 (WFCM 2026‑5C9) as of May 28, 2026.
• Servicing parties: KeyBank (master servicer), Torchlight Loan Services (special servicer), Computershare (certificate administrator/trustee), BellOak (operating advisor/asset reviewer).

Why It Matters

• This filing documents the formation and operational contracts for a new commercial mortgage trust and the securities backed by its loans. Investors in the issued Certificates or RR Interest receive rights to collections on the specified mortgage loans (net of trust expenses). The trust’s portfolio size (41 loans, 68 properties) and the special handling of the Del Rey whole loan — where companion loans remain outside the trust and are serviced under a different PSA — are material facts that can affect cash flows and recovery priorities. The named servicers and trustee indicate who will manage loan performance, collections and any workout or enforcement actions.