UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): ~~February~~March 1925, 2026

Central Index Key Number of the issuing entity: 0002106400

Benchmark 2026-V20 Mortgage Trust

(Exact name of Issuing Entity)

Central Index Key Number of the depositor: 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

Central Index Key Number of the sponsor: 0001541502

Goldman Sachs Mortgage Company

Central Index Key Number of the sponsor: 0001701238

Citi Real Estate Funding Inc.

Central Index Key Number of the sponsor: 0001549574

Barclays Capital Real Estate Inc.

Central Index Key Number of the sponsor: 0000927971

Bank of Montreal

(Exact Names of the Sponsors as Specified in their Charters)

Delaware

333-283864-03

04-3310019

(State or Other Jurisdiction of

Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1 Columbus Circle, New York, New York	10019
(Address of Principal Executive Offices)	(ZIP Code)

Registrant’s telephone number, including area code (212) 250-2500

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))

Item 81.01. ~~Other~~Entry ~~Events~~into a Material Definitive Agreement.

On February 19, 2026, Deutsche Mortgage & Asset Receiving Corporation (the “Registrant”) caused the issuance of the Benchmark 2026-V20 Mortgage Trust (“Issuing Entity”) Commercial Mortgage Pass-Through Certificates, Series 2026-V20 (the “Certificates”), pursuant to the Pooling and Servicing Agreement, dated as of February 1, 2026 (the “Pooling and Servicing Agreement”), between the Registrant, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Computershare Trust Company, ~~National Association~~N.A., as trustee, certificate administrator, paying agent and custodian, and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement.

~~The~~One ~~Certificates~~mortgage ~~consist~~loan, secured ofby ~~(x)~~the mortgaged property identified as “Kawasaki Motors North America Headquarters” on Exhibit B to the ~~following~~Pooling ~~classes~~and Servicing Agreement (~~each,~~the a “~~Class~~Kawasaki Motors North America Headquarters Mortgage Loan”), ~~designated~~is asan asset of the Issuing Entity and part of a whole loan (i) the ~~Class~~“Kawasaki ~~A-1,~~Motors ~~Class~~North ~~A-2,~~America ~~Class~~Headquarters ~~A-3,~~Whole ~~Class X-A,~~Loan”) ~~Class~~that ~~X-B,~~includes ~~Class~~the ~~A-M,~~Kawasaki ~~Class~~Motors BNorth America Headquarters Mortgage Loan and ~~Class~~one Cpari ~~Certificates~~passu ~~(collectively,~~promissory note (the “~~Publicly~~Kawasaki ~~Offered~~Motors ~~Certificates~~North America Headquarters Pari Passu Companion Loan”) that is not an asset of the Issuing Entity. The Pooling and Servicing Agreement provides that the Kawasaki Motors North America Headquarters Whole Loan will be serviced and administered (iii) until the ~~Class~~securitization ~~X-D,~~of ~~Class~~the ~~X-E,~~controlling ~~Class~~Kawasaki D,Motors ~~Class~~North E,America Headquarters ~~Class~~Pari ~~F-RR,~~Passu ~~Class~~Companion ~~G-RR~~Loan, ~~Class~~under Sthe Pooling and ~~Class~~Servicing RAgreement ~~Certificates~~and (~~collectively,~~ii) from and after the ~~“Privately~~securitization of the controlling ~~Offered~~Kawasaki ~~Certificates”)~~Motors ~~and~~North ~~(y)~~America Headquarters Pari Passu Companion Loan, under the ~~VRR~~pooling ~~Interest~~and servicing agreement entered into in connection with that securitization.

The ~~Registrant~~controlling ~~sold all~~Kawasaki ofMotors ~~the~~North ~~Publicly~~America ~~Offered~~Headquarters ~~Certificates,~~Companion ~~having~~Loan anwas ~~aggregate~~securitized ~~certificate~~on ~~balance~~March ~~of $770~~25,~~246,000,~~ to2026 ~~Deutsche~~in ~~Bank~~connection ~~Securities~~with ~~Inc.~~the ~~(“DBSI”),~~issuance of a series of mortgage ~~Goldman~~pass-through ~~Sachs~~certificates &entitled ~~Co.~~BMO ~~LLC~~2026-5C14 ~~(“GS&Co.”)~~Mortgage Trust, ~~Citigroup~~Commercial ~~Global~~Mortgage ~~Markets~~Pass-Through ~~Inc. (“CGMI”)~~Certificates, ~~Barclays~~Series ~~Capital Inc~~2026-5C14. ~~(“BCI”)~~Consequently, the ~~BMO~~Kawasaki ~~Capital~~Motors ~~Markets~~North ~~Corp.~~America ~~(“BMO~~Headquarters ~~Capital”),~~Mortgage ~~Academy~~Loan ~~Securities,~~is ~~Inc.~~being ~~(“Academy”)~~ serviced and ~~Mischler~~administered ~~Financial~~under ~~Group,~~the ~~Inc.~~pooling ~~(“Mischler”~~ and, ~~together~~servicing ~~with~~agreement entered ~~DBSI,~~into ~~GS&Co.,~~in ~~CGMI,~~connection ~~BCI~~with such securitization, ~~BMO~~dated ~~Capital~~as ~~and~~of ~~Academy~~March 1, 2026 (the “~~Underwriters~~BMO 2026-5C14 PSA”), ~~pursuant~~between toBMO anCommercial Mortgage ~~Underwriting~~Securities ~~Agreement~~LLC, ~~dated~~ as depositor, Midland Loan Services, a Division of ~~January~~PNC 29Bank, ~~2026~~National Association, as master servicer (in such capacity, the “~~Underwriting Agreement~~Non-Serviced Master Servicer”), ~~between~~CWCapital ~~the~~Asset ~~Registrant~~Management LLC, ~~German~~as ~~American~~special ~~Capital~~servicer ~~Corporation~~ (in such capacity, the “~~GACC~~Non-Serviced Special Servicer”), ~~and~~Computershare ~~the~~Trust ~~Underwriters~~Company, N.A., ~~The Publicly~~as ~~Offered~~certificate ~~Certificates~~administrator ~~were~~(in ~~offered~~such bycapacity, the ~~Underwriters~~“Non-Serviced Certificate ~~for~~Administrator”) ~~sale~~and toas ~~the~~trustee ~~public,~~(in ~~pursuant~~such tocapacity, the ~~Registrant’s~~“Non-Serviced ~~Preliminary Prospectus~~Trustee”), ~~dated~~and ~~January~~Pentalpha 26Surveillance LLC, ~~2026~~as operating advisor (in such capacity, the “~~Preliminary~~Non-Serviced ~~Prospectus~~Operating Advisor”), and byasset ~~the~~representations ~~Prospectus,~~reviewer ~~dated~~(in such ~~January 29~~capacity, ~~2026 (~~the “~~Prospectus”),~~Non-Serviced inAsset ~~negotiated~~Representations ~~transactions~~Reviewer”). orThe ~~otherwise,~~BMO at2026-5C14 ~~varying~~PSA ~~prices~~is ~~determined~~attached athereto ~~the~~as ~~time~~Exhibit ~~of sale~~99.1.

InThe ~~connection~~servicing ~~with~~terms ~~the~~of ~~issuance~~the ~~and~~BMO ~~sale~~2026-5C14 PSA are substantially similar to the ~~Underwriters~~servicing terms of the ~~Publicly~~Pooling ~~Offered~~and ~~Certificates,~~Servicing aAgreement ~~legal~~applicable ~~opinion~~to ~~was~~the ~~rendered~~Serviced Mortgage ~~related~~Loans; tohowever, the ~~validity~~servicing ~~of,~~arrangements ~~and certain~~under ~~federal~~such ~~income~~agreements ~~tax~~differ ~~considerations~~in ~~relating~~certain torespects, including the ~~Publicly~~items ~~Offered~~set ~~Certificates,~~forth ~~which~~under “Pooling ~~legal~~and ~~opinion~~Servicing isAgreement—Servicing ~~attached~~of ~~hereto~~the asNon-Serviced ~~Exhibits~~Mortgage Loans—General” in the prospectus relating ~~5.1~~to the Certificates, ~~8.1~~dated January 29, 2026 (the “Prospectus”), and ~~23.1.~~the following:

· The ~~Registrant~~Non-Serviced ~~sold~~Master ~~all of~~Servicer ~~the~~will ~~Privately~~earn ~~Offered~~a ~~Certificates,~~primary ~~having~~servicing anfee ~~aggregate~~with ~~certificate~~respect ~~balance of $97,637,584,~~ to ~~DBSI,~~the ~~GS&Co.,~~Kawasaki ~~CGMI,~~Motors ~~BCI,~~North ~~BMO~~America ~~Capital, Academy~~Headquarters ~~and~~Mortgage ~~Mischler~~Loan ~~(collectively~~that inis ~~such capacity, the “Initial Purchasers”) pursuant~~ to abe ~~Certificate~~calculated ~~Purchase~~at ~~Agreement, dated as of January 29, 2026, between the Registrant, GACC and the Initial Purchasers~~0.00125% ~~The~~per ~~Privately~~annum ~~Offered~~(which ~~Certificates~~rate ~~were~~includes ~~sold~~any ~~in a~~applicable ~~transaction~~sub-servicing ~~exempt~~fee ~~from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a~~rate)~~(2) of the Act~~.

~~The~~· ~~net~~Upon ~~proceeds of~~ the ~~offering~~ toKawasaki ~~the~~Motors ~~Registrant~~North ofAmerica ~~the~~Headquarters ~~issuance~~Mortgage ofLoan ~~the~~becoming ~~Publicly~~a ~~Offered~~specially ~~Certificates,~~serviced ~~after~~loan ~~deducting~~under ~~expenses payable by~~ the ~~Registrant~~BMO ~~of $5,573,948,~~2026-5C14 ~~were approximately $823~~PSA,~~813,725.~~ Of the ~~expenses~~Non-Serviced ~~paid~~Special byServicer ~~the~~will ~~Registrant,~~earn ~~approximately~~a $0special ~~was~~servicing ~~paid~~fee ~~directly~~payable tomonthly ~~affiliates of~~with ~~the~~respect ~~Registrant, $50,000 in the form of fees were paid~~ to ~~the Underwriters, $130,000 were paid to or for the Underwriters and $5,393,948 were other expenses. All of the foregoing expense amounts are the Registrant’s reasonable estimates of~~ such ~~expenses.~~mortgage Noloan ~~underwriting discounts~~accruing ~~and~~at ~~commissions~~a orrate ~~finder’s~~equal ~~fees were paid by the Registrant; the Publicly Offered Certificates were offered by the Underwriters for sale~~ to ~~the public in negotiated transactions or otherwise at varying prices determined at the time of sale~~0.25% ~~The~~per ~~Registrant~~annum ~~also~~(subject ~~sold~~ to ~~the~~a ~~Initial~~minimum ~~Purchasers~~monthly onfee ~~such date the Privately Offered Certificates, having an aggregate certificate balance~~ of $973,~~637~~500),~~584,~~ ~~in each~~until ~~case,~~such intime ~~private placement transactions exempt from registration under the Securities Act of 1933,~~ as ~~amended, pursuant to Section 4(2) of the Act. Further information regarding~~ such ~~sales~~mortgage ~~(including,~~loan ~~as to the price per class of Publicly Offered Certificates)~~ is available in the Underwriting Agreement attached as Exhibit 1.1 to the Registrant’s Form 8-K filed on January 29, 2026 and in the Prospectus referred to above. The related registration statement (file no. ~~333-283864)~~longer ~~was~~specially ~~originally declared effective on March 5, 2025~~serviced.

2· The Non-Serviced Special Servicer will be entitled to a workout fee equal to 1.0% of each payment of interest (other than default interest and excess interest) and principal (other than any amount for which a liquidation fee would be paid) in respect of the

~~Credit Risk Retention~~2

~~GACC,~~Kawasaki inMotors ~~its~~North ~~capacity~~America ~~as “retaining~~Headquarters ~~sponsor”~~Whole ~~(in~~Loan ~~such~~made ~~capacity,~~by the ~~“Retaining~~related ~~Sponsor”)~~borrower isafter ~~satisfying~~a ~~its~~workout ~~credit~~of ~~risk~~the ~~retention obligation~~Kawasaki ~~under~~Motors ~~Regulation~~North ~~RR,~~America 12Headquarters CWhole Loan.~~F.R.~~ ~~Part~~The ~~244~~workout ~~(the~~fee ~~“Risk~~is ~~Retention~~subject ~~Rule”)~~to ina ~~connection~~minimum ~~with~~fee ~~the securitization~~ of ~~the~~$25,000 ~~Mortgage~~and ~~Loans~~a ~~referred~~maximum tofee ~~above~~of ~~by the purchase on the Closing Date:~~$1,000,000.

~~(i)~~· byThe ~~the~~Non-Serviced ~~Retaining~~Special ~~Sponsor~~Servicer orwill ~~its~~be ~~“majority-owned~~entitled ~~affiliate”~~to ~~(as~~a ~~defined~~liquidation infee ~~Regulation~~equal ~~RR)~~to 1.0% of anet ~~“single~~liquidation ~~vertical~~proceeds ~~security”~~received ~~(as defined~~ in ~~Regulation~~connection ~~RR)~~with ~~that~~a isliquidation anof ~~“eligible~~the ~~vertical~~Kawasaki ~~interest”~~Motors ~~(as~~North ~~defined~~America inHeadquarters ~~Regulation~~Whole ~~RR)~~Loan. inThe ~~the~~liquidation ~~Issuing~~fee ~~Entity,~~is ~~with~~subject anto ~~aggregate~~a ~~initial~~minimum ~~certificate~~fee ~~balance~~ of ~~approximately~~ $1825,~~978,856~~000 asand ofa ~~the~~maximum ~~Closing~~fee ~~Date, consisting~~ of ~~the VRR Interest; and~~$1,000,000.

(ii) by RREF V – D AIV RR L, LLC, acting as third-party purchaser under the Risk Retention Rule, of an “eligible horizontal residual interest” (as defined in Regulation RR) in the Issuing Entity, with an aggregate initial certificate balance of $49,903,584, consisting of the Class F-RR and G-RR Certificates (together, the “HRR Certificates”).3

The VRR Interest represents at least 2.140% of the sum of the initial certificate balance of all of the Certificates as of the Closing Date. The VRR Interest will entitle the holder 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 (the “ABS Interests”). The fair value of the HRR Certificates is equal to approximately $26,433,679, representing approximately 2.896% of the aggregate fair value of all ABS Interests. The aggregate fair value of all ABS Interests is approximately $912,782,403. The fair values referenced in the preceding two sentences are based on actual prices and final tranche sizes as of the Closing Date for all Certificates (other than the Class R Certificates) issued by the Issuing Entity.

The Retaining Sponsor estimates that, if it had relied solely on retaining an “eligible horizontal residual interest” in order to meet the credit risk retention requirements of the Risk Retention Rule with respect to this securitization transaction, it would have retained an eligible horizontal residual interest with an aggregate fair value dollar amount of approximately $45,639,120, representing 5.0% of the aggregate fair value, as of the Closing Date, of all ABS Interests.

There are no material differences between (a) the valuation methodology or any of the key inputs and assumptions that were used in calculating the fair value or range of fair values disclosed in the Preliminary Prospectus filed with the Securities and Exchange Commission on January 26, 2026 under the heading “Credit Risk Retention” and (b) the valuation methodology or the key inputs and assumptions that were used in calculating the fair values set forth above. The fair values disclosed in the Preliminary Prospectus under the heading “Credit Risk Retention” assumed (i) an initial Certificate Balance of the Class A-2 Certificates of $274,943,000, while the fair value set forth above assumes an initial Certificate Balance of the Class A-2 Certificates of $150,000,000, and (ii) an initial Certificate Balance of the Class A-3 Certificates of $328,087,000, while the fair value set forth above assumes an initial Certificate Balance of the Class A-3 Certificates of $453,030,000.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

(d)	Exhibits:

	99.1	Pooling and Servicing Agreement, dated as of March 1, 2026, between BMO Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special servicer, Computershare Trust Company, N.A., as certificate administrator and as trustee, and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer.

5.1 Legality Opinion of Sidley Austin LLP, dated February 19, 2026.

8.1 Tax Opinion of Sidley Austin LLP, dated February 19, 2026 (included as part of Exhibit 5.1).

23.1 Consent of Sidley Austin LLP (included as part of Exhibit 5.1).

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 By: /s/ Robert-Christopher Jones Name: Robert-Christopher ~~JonesTitle~~Jones Title: Managing Director ~~By: /s/ Matt Smith Name: Matt SmithTitle:Director~~

Dated: February 19, 2026

	By:	/s/ Matt Smith
		Name:	Matt Smith
		Title:	Director
Dated: March 30, 2026

5BMARK 2026-V20 – 8-K (Kawasaki Motors North America Headquarters Servicing Shift)

Filing Compare · Benchmark 2026-V20 Mortgage Trust