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
November 22, 2023
Date of Report (Date of Earliest Event Reported)
Central Index Key Number of the issuing entity: 0001722194
Benchmark 2018-B1 Mortgage Trust
(Exact name of issuing entity)
Central Index Key Number of the registrant: 0001013454
Deutsche Mortgage & Asset Receiving Corporation
(Exact name of registrant as specified in its charter)
Central Index Key Number of the sponsor: 0001541294
German American Capital Corporation
(Exact name of sponsor as specified in its charter)
Central Index Key Number of the sponsor: 0000835271
JPMorgan Chase Bank, National Association
(Exact name of sponsor as specified in its charter)
Central Index Key Number of the sponsor: 0001701238
Citi Real Estate Funding Inc.
(Exact name of sponsor as specified in its charter)
New York | 333-206705-12 | 38-4052616 | ||
(State or other jurisdiction of incorporation of issuing entity) | (Commission File Number of issuing entity) | (I.R.S. Employer Identification Numbers) |
c/o Computershare Trust Company, N.A., as agent for
Wells Fargo Bank, National Association
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity)
(212) 250-2500
Registrant's Telephone number, including area code
Former name or former address, if changed since last report: Not Applicable
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 |
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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 6.04 Failure to Make a Required Distribution.
The Certificate Administrator made distributions to the Certificateholders on the November 17, 2023 Distribution Date. The Certificate Administrator was subsequently notified by the Master Servicer on November 22, 2023 of receipt of a curtailment payment on the Gateway Net Lease Portfolio Mortgage Loan (Loan Number 12 on Annex A-1 of the prospectus of the registrant relating to the issuing entity filed on January 31, 2018 pursuant to Rule 424(b)(2)). This resulted in an additional principal payment to the Class A-4 Certificateholders in an amount equal to $1,494,696.09, an additional payment to the Class X-A Certificateholders in an amount equal to $14,946.95 in prepayment penalty fees, an additional principal payment to the holder of the VRR Interest in an amount equal to $53,666.24 and an additional payment to the holder of the VRR Interest in an amount equal to $536.67 in prepayment penalty fees. The additional payments are expected to be made to the Class A-4 Certificateholders, Class X-A Certificateholders and the holder of the VRR Interest on or prior to the next distribution date.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Deutsche Mortgage & Asset Receiving Corporation
(Depositor)
/s/ Matt Smith
Matt Smith, Director
Date: November 28, 2023
/s/ R. Chris Jones
R. Chris Jones, Managing Director
Date: November 28, 2023