0001521536-11-000498.txt : 20111205 0001521536-11-000498.hdr.sgml : 20111205 20111205171258 ACCESSION NUMBER: 0001521536-11-000498 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20111205 DATE AS OF CHANGE: 20111205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UBS-Citigroup Commercial Mortgage Trust 2011-C1 CENTRAL INDEX KEY: 0001536226 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-166711-01 FILM NUMBER: 111243769 BUSINESS ADDRESS: STREET 1: 388 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128166000 MAIL ADDRESS: STREET 1: 388 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC CENTRAL INDEX KEY: 0001258361 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 861073506 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 388 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128166000 MAIL ADDRESS: STREET 1: 388 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 FWP 1 q1100283_fwp-ubsciti.htm Unassociated Document
Filed Pursuant to Rule 433
Registration No. 333-166711
FREE WRITING PROSPECTUS
STRUCTURAL AND COLLATERAL TERM SHEET
 
(ubs investment bank logo)
(citi logo)
   
   
UBSC 2011-C1
   
         
         
   
$726,524,286
   
   
(Approximate Total Mortgage Pool Balance)
   
         
   
$xxx,xxx,xxx
   
   
(Approximate Publicly Offered Certificates)
   
         
   
UBS – Citigroup Commercial Mortgage Trust 2011-C1
Issuer
   
         
   
Citigroup Commercial Mortgage Securities Inc.
Depositor
   
         
   
UBS Real Estate Securities Inc.
Natixis Real Estate Capital LLC
Sponsors and Mortgage Loan Sellers
   
               
     
[November 22, 2011]
     
               
 
UBS Investment Bank
Citigroup
 
   
Co-Lead Managers and Joint Bookrunners
   
           
           
   
Natixis
BofA Merrill Lynch
Barclays Capital
Morgan Stanley
   
   
Co-Managers
   
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407. The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
 
 
 

 
 
UBSC 2011-C1 Mortgage Trust
 
KEY FEATURES OF SECURITIZATION
 
Key Features:
   
Pooled Collateral Facts:
 
Co-Lead Managers & Joint
UBS Securities LLC
 
Initial Outstanding Pool Balance:
$726,524,286
Bookrunners:
Citigroup Global Markets Inc.
 
Number of Mortgage Loans:
38
Co-Managers:
Natixis Securities North America LLC
 
Number of Mortgaged Properties:
44
 
Barclays Capital Inc.,
 
Average Mortgage Loan Cut-off Date Balance:
$19,119,060
 
Merrill Lynch, Pierce, Fenner & Smith Incorporated
 
Average Mortgaged Property Cut-off Date Balance:
$16,511,916
 
Morgan Stanley & Co. LLC
 
Weighted Avg Mortgage Loan U/W NCF DSCR:
1.54x
Mortgage Loan Sellers:
UBS Real Estate Securities Inc. (“UBSRES”)
 
Range of Mortgage Loan U/W NCF DSCR:
1.18x - 2.38x
 
(81.3%) and Natixis Real Estate Capital LLC
 
Weighted Avg Mortgage Loan Cut-off Date LTV:
65.0%
 
(“NREC”) (18.7%)
 
Range of Mortgage Loan Cut-off Date LTV:
43.6% - 75.0%
Master Servicer:
TBD
 
Weighted Avg Mortgage Loan Maturity Date or ARD LTV:
56.4%
Operating Advisor:
TriMont Real Estate Advisors, Inc.
 
Range of Mortgage Loan Maturity Date or ARD LTV:
37.4% - 68.9%
Special Servicer:
Midland Loan Services, Division of PNC Bank, N.A.
 
Weighted Avg U/W NOI Debt Yield:
11.4%
Trustee:
Deutsche Bank National Trust Company
 
Range of U/W NOI Debt Yield:
9.1% - 21.0%
Rating Agencies:
Ratings are anticipated from DBRS, Inc. and
 
Weighted Avg Mortgage Loan
 
 
Moody’s Investors Service, Inc.
 
Original Term to Maturity (months):
106
Determination Date:
TBD
 
Weighted Avg Mortgage Loan
 
Distribution Date:
TBD
 
Remaining Term to Maturity (months):
104
Cut-off Date:
TBD
 
Weighted Avg Mortgage Loan Seasoning (months):
2
Settlement Date:
TBD
 
% Mortgage Loans with Amortization for Full Term
64.8%
Settlement Terms:
TBD
 
% Mortgage Loans with Partial Interest Only
35.2%
ERISA Eligible:
TBD
 
% Mortgage Loans with Full Interest Only
0.0%
SMMEA Eligible:
TBD
 
% Mortgage Loans with Upfront or Ongoing Tax Reserves:
94.1%
Day Count(1):
TBD
 
% Mortgage Loans with Upfront or
 
Tax Treatment:
TBD
 
Ongoing Replacement Reserves:
92.9%
Rated Final Distribution Date:
TBD
 
% Mortgage Loans with Upfront or Ongoing Insurance Reserves:
82.5%
Minimum Denominations:
TBD
 
% Mortgage Loans with Upfront or Ongoing TI/LC Reserves:
55.3%
Clean-up Call:
TBD
 
% Mortgage Loans with Upfront Engineering Reserves:
47.8%
     
% Mortgage Loans with Upfront or Ongoing Other Reserves:
51.0%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407. The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
 
 
1

 
 
UBSC 2011-C1 Mortgage Trust
 
OVERVIEW OF MORTGAGE POOL CHARACTERISTICS(1)
 
Distribution of Cut-off Date Balances
 
                               
Weighted Averages
Range of Cut-off Date Balances
 
Number of
Mortgage Loans
 
Aggregate
Cut-off Date Balance
 
% of Initial
Outstanding
Pool
Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W
NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity
or ARD
 
$3,200,000
 
-
 
$4,999,999
 
3
   
$10,321,789
   
1.4%
   
6.2902%
 
120
   
1.27x
 
67.0%
 
57.3%
 
$5,000,000
 
-
 
$9,999,999
 
12
   
$76,945,679
   
10.6%
   
6.1675%
 
108
   
1.51x
 
66.6%
 
57.3%
 
$10,000,000
 
-
 
$19,999,999
 
10
   
$150,144,704
   
20.7%
   
6.1107%
 
118
   
1.37x
 
67.6%
 
58.0%
 
$20,000,000
 
-
 
$29,999,999
 
7
   
$165,424,537
   
22.8%
   
6.2066%
 
118
   
1.59x
 
62.0%
 
50.4%
 
$30,000,000
 
-
 
$39,999,999
 
1
   
$31,550,000
   
4.3%
   
5.6695%
 
117
   
1.31x
 
65.7%
 
59.0%
 
$40,000,000
 
-
 
$49,999,999
 
2
   
$94,683,808
   
13.0%
   
5.3495%
 
57
   
1.47x
 
63.0%
 
58.9%
 
$50,000,000
 
-
 
$59,999,999
 
1
   
$55,759,107
   
7.7%
   
5.2750%
 
56
   
1.36x
 
74.0%
 
68.9%
 
$60,000,000
 
-
 
$72,000,000
 
2
   
$141,694,662
   
19.5%
   
6.2487%
 
118
   
1.30x
 
62.3%
 
54.2%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
Distribution of Mortgage Rates
 
                               
Weighted Averages
            % of Initial                    
Range of Mortgage Rates
 
Number of
Mortgage Loans
 
Aggregate
Cut-off Date Balance
 
Outstanding
Pool
Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity
or ARD
 
5.1700%
 
-
 
5.2499%
 
1
   
$49,950,000
   
6.9%
   
5.1700%
 
58
   
1.38x
 
69.4%
 
66.5%
 
5.2500%
 
-
 
5.9999%
 
11
   
$293,508,899
   
40.4%
   
5.6539%
 
96
   
1.39x
 
64.8%
 
57.2%
 
6.0000%
 
-
 
6.6115%
 
26
   
$383,065,387
   
52.7%
   
6.3459%
 
117
   
1.47x
 
64.6%
 
54.5%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
Property Type Distribution(2)
 
                   
Weighted Averages
Property Type
 
Number of
Mortgaged
Properties
 
Aggregate
Cut-off
Date Balance
 
% of Initial
Outstanding
Pool
Balance
  
Number
of Units, Rooms,
Pads, Beds or
NRA
 
 
Cut-off Date
Balance per
Units, Rooms,
Pads, Beds or
NRA
 
Mortgage
Rate
 
Stated
Remaining
Term (Mos.)
 
Occupancy
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
Office
 
6
 
$178,114,437
 
24.5%
   
2,143,218
   
83
   
5.8408%
 
101
 
87.0%
   
1.37x
   
65.1%
   
58.5%
 
CBD
 
4
 
$137,414,437
 
18.9%
   
1,866,666
   
74
   
5.6571%
 
96
 
85.8%
   
1.36x
   
63.4%
   
57.5%
 
Medical
 
1
 
$26,300,000
 
3.6%
   
127,942
   
206
   
6.4390%
 
119
 
90.2%
   
1.49x
   
69.2%
   
61.9%
 
Suburban
 
1
 
$14,400,000
 
2.0%
   
148,610
   
97
   
6.5010%
 
118
 
92.6%
   
1.29x
   
74.4%
   
65.4%
 
Retail
 
12
 
$206,701,910
 
28.5%
   
1,720,081
   
120
   
6.2159%
 
117
 
91.0%
   
1.33x
   
66.0%
   
57.9%
 
Anchored(3)
 
6
 
$85,024,747
 
11.7%
   
684,544
   
124
   
5.9447%
 
114
 
95.7%
   
1.37x
   
66.0%
   
56.7%
 
Regional Mall
 
1
 
$69,694,662
 
9.6%
   
691,325
   
101
   
6.6115%
 
119
 
87.7%
   
1.29x
   
65.3%
   
57.3%
 
Unanchored
 
3
 
$28,132,500
 
3.9%
   
104,113
   
270
   
6.0179%
 
118
 
89.5%
   
1.30x
   
61.6%
   
55.8%
 
Shadow Anchored
 
2
 
$23,850,000
 
3.3%
   
240,099
   
99
   
6.2600%
 
120
 
86.0%
   
1.34x
   
73.0%
   
62.4%
 
Hospitality
 
11
 
$116,020,328
 
16.0%
   
1,346
   
86,196
   
6.2300%
 
113
 
75.0%
   
1.75x
   
58.1%
   
46.6%
 
Multifamily
 
4
 
$91,361,694
 
12.6%
   
1,658
   
55,104
   
5.4507%
 
79
 
97.2%
   
1.36x
   
72.5%
   
65.8%
 
Industrial
 
2
 
$72,733,808
 
10.0%
   
2,013,295
   
36
   
5.7463%
 
80
 
94.9%
   
1.48x
   
59.4%
   
49.7%
 
Manufactured Housing Community
 
5
 
$24,106,789
 
3.3%
   
1,147
   
21,017
   
6.1739%
 
120
 
86.5%
   
1.48x
   
68.1%
   
58.1%
 
Self Storage
 
2
 
$22,500,000
 
3.1%
   
2,143
   
10,499
   
6.3483%
 
120
 
88.4%
   
1.32x
   
70.4%
   
60.3%
 
Mixed Use
 
1
 
$10,485,422
 
1.4%
   
49,461
   
212
   
6.2500%
 
119
 
88.9%
   
1.18x
   
73.1%
   
57.2%
 
Other
 
1
 
$4,499,898
 
0.6%
   
60,000
   
75
   
6.1115%
 
118
 
100.0%
   
1.52x
   
63.4%
   
54.0%
 
Total/Weighted Average
 
44
 
$726,524,286
 
100.0%
               
5.9855%
 
104
 
88.4%
   
1.43x
   
65.0%
   
56.4%
 
 
Geographic Distribution(2)
 
                     
Weighted Averages
State/Location
 
Number of
Mortgaged
Properties
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool
Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity
or ARD
New York
 
6
   
$222,314,009
   
30.6%
   
6.1123%
 
103
   
1.50x
 
59.2%
 
51.9%
Florida
 
5
   
$121,995,929
   
16.8%
   
5.7745%
 
90
   
1.36x
 
69.8%
 
63.6%
Texas
 
6
   
$65,909,976
   
9.1%
   
5.9486%
 
119
   
1.27x
 
72.4%
 
61.5%
California
 
4
   
$57,250,000
   
7.9%
   
5.9693%
 
118
   
1.31x
 
67.2%
 
59.1%
Pennsylvania
 
1
   
$49,950,000
   
6.9%
   
5.1700%
 
58
   
1.38x
 
69.4%
 
66.5%
Other
 
22
   
$209,104,373
   
28.8%
   
6.1847%
 
116
   
1.49x
 
64.3%
 
52.4%
Total/Weighted Average
 
44
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
(1)
For each of the Trinity Centre Mortgage Loan, the Poughkeepsie Galleria Mortgage Loan, and the 1700 Market Street Mortgage Loan, the numerical and statistical information related to the loan-to-value ratios, debt yields, and Cut-off Date Balances per Unit includes the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust). For purposes of calculating debt service coverage ratios for those mortgage loans, the annual debt service is based on the aggregate principal and interest payments due during the first 12 months after the expiration of the initial interest only period (or, in the case of the Poughkeepsie Galleria Mortgage Loan, Cut-off Date) on the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust).
(2)
Reflects allocated loan amount for properties securing multi-property mortgage loans.
(3)
Includes single tenant.
 
 
 
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407. The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
 
 
2

 
 
UBSC 2011-C1 Mortgage Trust
 
   
OVERVIEW OF MORTGAGE POOL CHARACTERISTICS(1)
                   
Distribution of Cut-off Date LTV Ratios
                   
               
Weighted Averages
 
Range of Cut-off Date LTV
Ratios
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off
Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
43.6
%
-
44.9
%
 
1
   
$24,933,544
   
3.4
%
 
6.3000
%
 
117
   
2.38
x
 
43.6
%
 
37.4
%  
50.0
%
-
54.9
%
 
1
   
$11,500,000
   
1.6
%
 
6.1000
%
 
120
   
1.75
x
 
50.0
%
 
42.5
 
55.0
%
-
59.9
%
 
5
   
$162,826,458
   
22.4
%
 
5.9679
%
 
101
   
1.45
x
 
57.6
%
 
49.2
%  
60.0
%
-
64.9
%
 
6
   
$66,690,219
   
9.2
%
 
6.0564
%
 
111
   
1.52
x
 
62.7
%
 
55.2
%  
65.0
%
-
69.9
%
 
16
   
$304,335,777
   
41.9
%
 
6.0514
%
 
107
   
1.38
x
 
67.2
%
 
58.2
%  
70.0
%
-
75.0
%
 
9
   
$156,238,289
   
21.5
%
 
5.7867
%
 
96
   
1.30
x
 
73.9
%
 
65.2
%  
Total/Weighted Average
 
38
   
$726,524,286
   
100.0
%
 
5.9855
%
 
104
   
1.43
x
 
65.0
%
 
56.4
%
 
                                                           
Distribution of LTV Ratios at Maturity or ARD
                                                           
                             
Weighted Averages
 
Range of LTV Ratios
at Maturity or ARD
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off
Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
37.4
%
-
44.9
%
 
3
   
$57,381,117
   
7.9
%
 
6.3329
%
 
118
   
1.97
x
 
49.0
%
 
40.6
%
 
45.0
%
-
49.9
%
 
2
   
$49,945,077
   
6.9
%
 
6.2533
%
 
119
   
1.42
x
 
61.7
%
 
47.1
%
 
50.0
%
-
54.9
%
 
9
   
$193,389,111
   
26.6
%
 
5.8380
%
 
103
   
1.46
x
 
60.9
%
 
51.7
%
 
55.0
%
-
59.9
%
 
14
   
$211,028,244
   
29.0
%
 
6.2477
%
 
116
   
1.33
x
 
66.3
%
 
57.8
%
 
60.0
%
-
64.9
%
 
6
   
$79,489,631
   
10.9
%
 
6.2424
%
 
115
   
1.37
x
 
72.3
%
 
63.0
%
 
65.0
%
-
68.9
%
 
4
   
$135,291,107
   
18.6
%
 
5.3902
%
 
70
   
1.35
x
 
72.4
%
 
67.4
%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0
%
 
5.9855
%
 
104
   
1.43
x
 
65.0
%
 
56.4
%
 
                                                           
Distribution of Underwritten NCF Debt Service Coverage Ratios
                                                           
                             
Weighted Averages
 
Range of Underwritten NCF
Debt Service Coverage
Ratios
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
1.18
x
-
1.24
x
 
1
   
$10,485,422
   
1.4
%
 
6.2500
%
 
119
   
1.18
x
 
73.1
%
 
57.2
%
 
1.25
x
-
1.34
x
 
16
   
$331,877,827
   
45.7
%
 
6.1039
%
 
118
   
1.30
x
 
66.1
%
 
57.0
%
 
1.35
x
-
1.44
x
 
5
   
$135,459,107
   
18.6
%
 
5.4696
%
 
71
   
1.37
x
 
71.0
%
 
65.7
%
 
1.45
x
-
1.54
x
 
8
   
$120,691,183
   
16.6
%
 
6.2000
%
 
115
   
1.51
x
 
65.5
%
 
54.3
%
 
1.55
x
-
1.74
x
 
4
   
$77,016,382
   
10.6
%
 
5.8753
%
 
82
   
1.59
x
 
57.2
%
 
49.5
%
 
1.75
x
-
1.99
x
 
3
   
$26,060,822
   
3.6
%
 
6.0842
%
 
100
   
1.83
x
 
57.2
%
 
49.8
%
 
2.00
x
-
2.38
x
 
1
   
$24,933,544
   
3.4
%
 
6.3000
%
 
117
   
2.38
x
 
43.6
%
 
37.4
%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0
%
 
5.9855
%
 
104
   
1.43
x
 
65.0
%
 
56.4
%
 
                                                           
Distribution of Original Terms to Maturity
                                                           
                             
Weighted Averages
 
Range of Original Terms
to Maturity (months)
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
60
 
-
71
   
5
   
$163,784,541
   
22.5
%
 
5.3975
%
 
57
   
1.46
x
 
67.0
%
 
62.5
%
 
72
 
-
120
   
33
   
$562,739,745
   
77.5
%
 
6.1566
%
 
118
   
1.42
x
 
64.4
%
 
54.7
%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0
%
 
5.9855
%
 
104
   
1.43
x
 
65.0
%
 
56.4
%
 
                                                           
Distribution of Remaining Terms to Maturity
                                                           
                             
Weighted Averages
 
Range of Remaining Terms
to Maturity (months)
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
55
 
-
71
   
5
   
$163,784,541
   
22.5
%
 
5.3975
%
 
57
   
1.46
x
 
67.0
%
 
62.5
%
 
72
 
-
120
   
33
   
$562,739,745
   
77.5
%
 
6.1566
%
 
118
   
1.42
x
 
64.4
%
 
54.7
%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0
%
 
5.9855
%
 
104
   
1.43
x
 
65.0
%
 
56.4
%
 
(1)
For each of the Trinity Centre Mortgage Loan, the Poughkeepsie Galleria Mortgage Loan, and the 1700 Market Street Mortgage Loan, the numerical and statistical information related to the loan-to-value ratios, debt yields, and Cut-off Date Balances per Unit includes the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust). For purposes of calculating debt service coverage ratios for those mortgage loans, the annual debt service is based on the aggregate principal and interest payments due during the first 12 months after the expiration of the initial interest only period (or, in the case of the Poughkeepsie Galleria Mortgage Loan, Cut-off Date) on the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust).
 
 
 
 
 
 
 
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407. The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
 
 
3

 
 
UBSC 2011-C1 Mortgage Trust
 
OVERVIEW OF MORTGAGE POOL CHARACTERISTICS(1)
 
Amortization Type
 
               
 
Weighted Averages
 
Amortization Type
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off
Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
Amortizing Balloon
 
30
   
$470,709,786
 
64.8%
   
6.0810%
 
103
   
1.48x
 
64.7%
 
55.6%
 
Interest Only, then Amortizing
 
8
   
$255,814,500
 
35.2%
   
5.8097%
 
106
   
1.34x
 
65.5%
 
58.0%
 
Total/Weighted Average
 
38
   
$726,524,286
 
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
 
Distribution of Original Amortization Term
 
                 
 
Weighted Averages
 
Range of Original
Amortization Term (months)
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off
Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
 
240
   
1
   
$28,000,000
   
3.9%
   
6.0600%
 
119
   
1.33x
 
65.0%
 
48.3%
 
241
-
300
 
8
   
$146,306,015
   
20.1%
   
6.0116%
 
95
   
1.55x
 
61.0%
 
50.1%
 
301
-
360
 
29
   
$552,218,271
   
76.0%
   
5.9748%
 
106
   
1.40x
 
66.0%
 
58.5%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
 
Distribution of Remaining Amortization Term
 
                 
 
Weighted Averages
 
Range of Remaining
Amortization Term (months)
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
 
240
   
1
   
$28,000,000
   
3.9%
   
6.0600%
 
119
   
1.33x
 
65.0%
 
48.3%
 
241
-
300
 
8
   
$146,306,015
   
20.1%
   
6.0116%
 
95
   
1.55x
 
61.0%
 
50.1%
 
301
-
360
 
29
   
$552,218,271
   
76.0%
   
5.9748%
 
106
   
1.40x
 
66.0%
 
58.5%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
 
Distribution of Underwritten NOI Debt Yield
 
                 
 
Weighted Averages
 
Range of Underwritten NOI
Debt Yield
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
9.1%
-
10.0%
 
11
   
$184,735,132
   
25.4%
   
5.6891%
 
99
   
1.30x
 
70.8%
 
63.0%
 
10.1%
-
11.0%
 
7
   
$235,894,662
   
32.5%
   
6.0322%
 
106
   
1.32x
 
65.3%
 
58.0%
 
11.1%
-
12.0%
 
7
   
$72,572,193
   
10.0%
   
6.3642%
 
114
   
1.43x
 
68.7%
 
60.5%
 
12.1%
-
14.0%
 
10
   
$180,089,188
   
24.8%
   
5.9616%
 
102
   
1.54x
 
61.3%
 
50.2%
 
14.1%
-
20.0%
 
2
   
$28,299,568
   
3.9%
   
6.4351%
 
102
   
1.69x
 
57.5%
 
47.4%
 
20.1%
-
21.0%
 
1
   
$24,933,544
   
3.4%
   
6.3000%
 
117
   
2.38x
 
43.6%
 
37.4%
 
Total/Weighted Average
 
38
   
$726,524,286
   
100.0%
   
5.9855%
 
104
   
1.43x
 
65.0%
 
56.4%
 
 
Loan Purpose
 
               
 
Weighted Averages
 
Loan Purpose
 
Number of
Mortgage Loans
 
Aggregate Cut-off
Date Balance
 
% of Initial
Outstanding
Pool Balance
 
Mortgage Rate
 
Stated
Remaining Term
(Mos.)
 
U/W NCF
DSCR
 
Cut-off Date
LTV Ratio
 
LTV Ratio
at Maturity or
ARD
 
Refinance
 
29
   
$555,035,497
 
76.4%
 
6.0582%
 
105
 
1.45x
 
64.0%
 
55.2%
 
Acquisition
 
9
   
$171,488,789
 
23.6%
 
5.7502%
 
101
 
1.38x
 
68.1%
 
60.3%
 
Total/Weighted Average
 
38
   
$726,524,286
 
100.0%
 
5.9855%
 
104
 
1.43x
 
65.0%
 
56.4%
 
(1)
For each of the Trinity Centre Mortgage Loan, the Poughkeepsie Galleria Mortgage Loan, and the 1700 Market Street Mortgage Loan, the numerical and statistical information related to the loan-to-value ratios, debt yields, and Cut-off Date Balances per Unit includes the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust). For purposes of calculating debt service coverage ratios for those mortgage loans, the annual debt service is based on the aggregate principal and interest payments due during the first 12 months after the expiration of the initial interest only period (or, in the case of the Poughkeepsie Galleria Mortgage Loan, Cut-off Date) on the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust).
 
 
 
 
 
 
 
 
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates.  Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407.  The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a when, as and if issued basis.  You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any indications of interest expressed by you, and any soft circles generated by us, will not create binding contractual obligations for you or us.
 
 
4

 
 
UBSC 2011-C1 Mortgage Trust
 
OVERVIEW OF MORTGAGE POOL CHARACTERISTICS(1)
 
Ten Largest Mortgage Loans
 
Mortgage Loans
 
Mortgage
Loan
Seller
 
City, State
 
Property
Type
 
Cut-off Date
Balance
 
% of Initial
Outstanding
Pool Balance
 
Cut-off Date
Balance/SF/
Unit/Room
 
Cut-off Date
LTV Ratio
 
U/W NCF
DSCR
 
U/W
NOI Debt
Yield
 
Trinity Centre
 
UBSRES
 
New York, NY
 
Office
 
$72,000,000
 
9.9
%
 
$178
   
59.3
%
 
1.31x
   
10.5
%
 
Poughkeepsie Galleria
 
UBSRES
 
Poughkeepsie, NY
 
Retail
 
$69,694,662
 
9.6
%
 
$224
   
65.3
%
 
1.29x
   
10.2
%
 
Portofino at Biscayne
 
NREC
 
North Miami, FL
 
Multifamily
 
$55,759,107
 
7.7
%
 
$64,165
   
74.0
%
 
1.36x
   
9.6
%
 
1700 Market Street
 
UBSRES
 
Philadelphia, PA
 
Office
 
$49,950,000
 
6.9
%
 
$132
   
69.4
%
 
1.38x
   
10.0
%
 
333 North Bedford Road
 
NREC
 
Mount Kisco, NY
 
Industrial
 
$44,733,808
 
6.2
%
 
$74
   
55.9
%
 
1.57x
   
12.9
%
 
One Montgomery Street
 
UBSRES
 
San Francisco, CA
 
Retail
 
$31,550,000
 
4.3
%
 
$416
   
65.7
%
 
1.31x
   
9.4
%
 
Sun Products Distribution Center
 
UBSRES
 
Bowling Green, KY
 
Industrial
 
$28,000,000
 
3.9
%
 
$20
   
65.0
%
 
1.33x
   
12.7
%
 
Bethesda Health Medical Office
 
UBSRES
 
Boynton Beach, FL
 
Office
 
$26,300,000
 
3.6
%
 
$206
   
69.2
%
 
1.49x
   
11.7
%
 
Marriott Buffalo Niagara
 
UBSRES
 
Amherst, NY
 
Hospitality
 
$24,933,544
 
3.4
%
 
$70,038
   
43.6
%
 
2.38x
   
21.0
%
 
Doubletree Chattanooga
 
UBSRES
 
Chattanooga, TN
 
Hospitality
 
$22,798,343
 
3.1
%
 
$122,572
   
69.1
%
 
1.52x
   
12.8
%
 
Total/Wtd. Avg.:
             
$425,719,464
 
58.6
%
       
64.1
%
 
1.44x
   
11.4
%
 
 
Split Loan Summary(2)
 
Mortgage Loans
 
Senior Pari
Passu A-1 Note
Trust
Cut-off Date
Balance
 
Senior Pari Passu
Companion A-2
Note Cut-off Date
Balance
 
Total Mortgage
Debt Cut-off
Date Balance
 
Trust
U/W NCF
DSCR
 
Total
Mortgage Debt
U/W NCF DSCR
 
Trust
Cut-off Date
LTV Ratio
 
Total Mortgage
Debt Cut-off
Date LTV Ratio
 
Trust
U/W NOI
Debt Yield
 
Total
Mortgage
Debt U/W NOI
Debt Yield
 
Trinity Centre
 
$72,000,000
 
$88,000,000
 
$160,000,000
 
1.31x
   
1.31x
   
59.3
%
 
59.3
%
 
10.5
%
 
10.5
%
 
Poughkeepsie Galleria
 
$69,694,662
 
$85,182,365
 
$154,877,027
 
1.29x
   
1.29x
   
65.3
%
 
65.3
%
 
10.2
%
 
10.2
%
 
1700 Market Street
 
$49,950,000
 
$61,050,000
 
$111,000,000
 
1.38x
   
1.38x
   
69.4
%
 
69.4
%
 
10.0
%
 
10.0
%
 
 
Existing Mezzanine Debt Summary
 
Mortgage Loans
 
Senior Pari
Passu A-1 Note
Trust
Cut-off Date
Balance
 
Senior Pari Passu
Companion A-2
Note Cut-off Date
Balance
 
Mezzanine Debt
Cut-off Date
Balance
 
Total Debt
Cut-off Date
Balance
 
Trust
U/W NCF
DSCR
 
Total Debt
U/W NCF
DSCR
 
Trust
Cut-
off Date
LTV Ratio
 
Total Debt
Cut-
off Date
LTV Ratio
 
Trust
U/W NOI
Debt Yield
 
Total Debt
U/W NOI
Debt Yield
 
Trinity Centre
 
$72,000,000
   
$88,000,000
   
$25,000,000
   
$185,000,000
   
1.31x
   
1.05x
   
59.3
%
 
68.5
%
 
10.5
%
 
9.1
%
 
Poughkeepsie Galleria
 
$69,694,662
   
$85,182,365
   
$20,983,339
   
$175,860,367
   
1.29x
   
1.07x
   
65.3
%
 
74.2
%
 
10.2
%
 
9.0
%
 
1700 Market Street
 
$49,950,000
   
$61,050,000
   
$12,200,000
   
$123,200,000
   
1.38x
   
1.18x
   
69.4
%
 
77.0
%
 
10.0
%
 
9.0
%
 
Dunbar Village
 
$5,989,631
   
$0
   
$1,000,000
   
$6,989,631
   
1.48x
   
1.12x
   
66.9
%
 
78.1
%
 
11.8
%
 
10.1
%
 
 
(1)
For each of the Trinity Centre Mortgage Loan, the Poughkeepsie Galleria Mortgage Loan, and the 1700 Market Street Mortgage Loan, the numerical and statistical information related to the loan-to-value ratios, debt yields, and Cut-off Date Balances per Unit includes the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust). For purposes of calculating debt service coverage ratios for those mortgage loans, the annual debt service is based on the aggregate principal and interest payments due during the first 12 months after the expiration of the initial interest only period (or, in the case of the Poughkeepsie Galleria Mortgage Loan, Cut-off Date) on the senior pari passu A-1 note (which note is included in the Trust) and the senior pari passu companion A-2 note (which note is not included in the Trust).
(2)
The Trinity Centre Mortgage Loan is part of the Trinity Centre Mortgage Loan Combination, totaling $160 million, which was bifurcated into two senior pari passu loan components (Notes A-1 and A-2). The Poughkeepsie Galleria Mortgage Loan is part of the Poughkeepsie Galleria Mortgage Loan Combination, totaling $154.9 million, which was bifurcated into two senior pari passu loan components (Notes A-1 and A-2). The 1700 Market Street Mortgage Loan is part of the 1700 Market Street Mortgage Loan Combination, totaling $111 million, which was bifurcated into two senior pari passu loan components (Notes A-1 and A-2). In the case of each of the foregoing mortgage loan combinations, the related Note A-1 will be, but the related Note A-2 will not be, contributed to the UBSC 2011-C1 Trust.
 
 
 
 
 
 
 
 
 
The depositor has filed a registration statement (including the prospectus) with the SEC (SEC File No. 333-166711) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or UBS Securities LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407. The publicly offered certificates referred to in these materials, and the asset pool backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. You understand that, when you are considering the purchase of these certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have verified the allocation of certificates to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
 
 
5

 
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