NEW YORK–(BUSINESS WIRE)– #creditratingagency–KBRA is pleased to announce the assignment of preliminary ratings to 16 classes of Benchmark 2026-V25, a $683.3 million CMBS conduit transaction collateralized by 35 commercial mortgage loans secured by 75 properties. The collateral properties are located throughout 27 MSAs, of which the three largest are New York (15.1% of pool balance), Dallas – Forth Worth (10.2%), and St. Louis (10.0%). The pool’s three largest property type exposures are office (32.0%), multifami