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
April 29, 2022
Date of Report (Date of Earliest Event Reported)
Central Index Key Number of the issuing entity: 0001745529
Benchmark 2018-B5 Mortgage Trust
(Exact name of issuing entity)
Central Index Key Number of the registrant: 0001013611
J.P. Morgan Chase Commercial Mortgage Securities Corp.
(Exact name of registrant 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)
Central Index Key Number of the sponsor: 0001541294
German American Capital Corporation
(Exact name of sponsor as specified in its charter)
New York | 333-206361-15 | 38-4088307 | ||
(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) 834-9708
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 6.02 Change of Servicer or Trustee.
Pursuant to a Current Report on Form 8-K, filed by the registrant on January 31, 2022 (SEC Accession No. 0001888524-22-000647) (the “Prior 8-K Report”), pursuant to Section 7.01(d) of the pooling and servicing agreement, dated as of August 1, 2018 (the “Pooling and Servicing Agreement”), among J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as master servicer, Midland Loan Services, A Division of PNC Bank, National Association (“Midland”), as special servicer, Computershare Trust Company, National Association, acting as an agent for Wells Fargo Bank, National Association, as certificate administrator, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, relating to the issuing entity known as Benchmark 2018-B5 Mortgage Trust (the “Issuing Entity”), effective as of January 31, 2022, Midland was removed as special servicer and LNR Partners, LLC (“LNR Partners”), a Florida limited liability company, was appointed as the successor special servicer (except with respect to any Non-Serviced Whole Loan, the eBay North First Commons Mortgage Loan, the NY & CT NNN Portfolio Mortgage Loan, the Valley Mack Plaza Mortgage Loan and the 1400 Washington Street Mortgage Loan).
As stated in the Prior 8-K Report, the appointment of LNR Partners as successor special servicer with respect to the NY & CT NNN Portfolio Mortgage Loan, the Valley Mack Plaza Mortgage Loan and the 1400 Washington Street Mortgage Loan was to become effective upon on the earliest of (a) May 2, 2022, (b) the date on which the applicable loan becomes a Corrected Loan and (c) the date on which the applicable borrower re-defaults or another workout strategy is pursued prior to the applicable loan becoming a Corrected Loan.
This Current Report on Form 8-K is being filed to record that, effective as of April 29, 2022, LNR Partners became special servicer with respect to the NY & CT NNN Portfolio Mortgage Loan, the Valley Mack Plaza Mortgage Loan and the 1400 Washington Street Mortgage Loan. LNR Partners will be responsible for the servicing and administration of the NY & CT NNN Portfolio Mortgage Loan, the Valley Mack Plaza Mortgage Loan and the 1400 Washington Street Mortgage Loan pursuant to the Pooling and Servicing Agreement, a copy of which was filed as Exhibit 4.1 to the Current Report on Form 8-K/A filed by the Issuing Entity with the Securities and Exchange Commission on September 20, 2018. The principal executive offices of LNR Partners are located at 2340 Collins Avenue, Suite 700, Miami Beach, Florida 33139 and its telephone number is (305) 695-5600.
Capitalized terms used, but not defined, in this Current Report on Form 8‑K have the meanings set forth in the Pooling and Servicing Agreement.
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.
J.P. Morgan Chase Commercial Mortgage Securities Corp.
(Depositor)
/s/ John Miller
John Miller, Executive Director
Date: May 4, 2022