# EDGAR Filing Document

**Accession Number:** 0002089470
**File Stem:** 0001539497-25-002635
**Filing Date:** 2025-10
**Character Count:** 8227
**Document Hash:** 2660b8f79ba543b129581154898f7735
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-002635.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001539497-25-002635

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Benchmark 2025-V18 Mortgage Trust
- **CENTRAL INDEX KEY:** 0002089470
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-286173-02
- **FILM NUMBER:** 251379490

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282
- **BUSINESS PHONE:** 2129021000

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GS MORTGAGE SECURITIES CORP II
- **CENTRAL INDEX KEY:** 0001004158
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 223442024
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282
- **BUSINESS PHONE:** 2129021000

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

---

| |
|:---|
| &nbsp;&nbsp;FREE WRITING PROSPECTUS |
| &nbsp;&nbsp;FILED PURSUANT TO RULE 433 |
| &nbsp;&nbsp;REGISTRATION FILE NO.: 333-286173-02 |

---

**Sent:** Tuesday, October 7, 2025 12:00 PM<br> **Subject:** BMARK 2025-V18 -- Status Update #1 (Public)(external)<br> **Importance:** High

**BMARK 2025-V18 -- Status Update #1 (Public)(external)**

Co-Lead Managers & Joint Bookrunners: Goldman Sachs & Co. LLC, Citigroup, Barclays, BMO Capital Markets, Deutsche Bank Securities

Co-Managers: Academy Securities & Drexel Hamilton, LLC

**<u>Offered Certificates – Public</u>**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Class | Expected Ratings<br> S&P/Fitch/KBRA | Size($mm) | C/E | WAL | Cum LTV | UW NOI DY | IPTs |  | Status \*\*\* |
| A-1 | AAA(sf)/AAAsf/AAA(sf) | 3.291 | 30.000% | 2.18 | 42.3% | 17.6% | J+70a |  | (Auction) \*\* |
| A-2\* | AAA(sf)/AAAsf/AAA(sf) | 348.650 | 30.000% | 4.76 | 42.3% | 17.6% | A3-2bps | \ | Combined |
| A-3\* | AAA(sf)/AAAsf/AAA(sf) | 523.490 | 30.000% | 4.95 | 42.3% | 17.6% | J+83-84 | / | FCF+LCF ~50% |
| A-S | NR/AAAsf/AAA(sf) | 123.499 | 20.125% | 4.96 | 48.2% | 15.4% | J+125a |  | ~65% |
| B | NR/AA-sf/AA-(sf) | 62.531 | 15.125% | 4.96 | 51.3% | 14.5% | J+160a |  | ~60% |
| C | NR/A-sf/A-(sf) | 48.461 | 11.250% | 4.96 | 53.6% | 13.9% | J+225a |  | ~25% |

---

\* Class sizes and/or WALs subject to change as detailed in the term sheet.

Possible ranges below:

Class Expected Range of Balance(mm) Expected Range of WAL <br> A-2 0.000 - 348.650 NAP – 4.76 <br> A-3 523.490 – 872.140 4.95 – 4.87

\*\* Class A-1 Auction will be held Wednesday, October 8 at 11am ET

\*\*\* There is protection on size, not level, in classes A-3, A-S, and B

**<u>Anticipated Timing</u>**

Anticipated Pricing: Week of October 6th

Anticipated Settlement: October 30, 2025

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