FWP 1 n313_fwpx4.htm FREE WRITING PROSPECTUS Unassociated Document
   
FREE WRITING PROSPECTUS
   
FILED PURSUANT TO RULE 433
   
REGISTRATION FILE NO.: 333-189017-04
     
 
From: CITI CMBS SYNDICATE (CITIGROUP GLOBAL MAR)
At: May  1 2014 11:58:00

CGCMT 2014-GC21 -- New Issue Announcement (Public)

$902.386mm Fixed Rate CMBS Offering

Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets Inc. and Goldman, Sachs & Co.
Co-Managers: Drexel Hamilton, LLC and RBS Securities Inc.

Class
Moody's/Fitch/DBRS
Size($mm)
WAL(yr)
C/E
Cum LTV
U/W NOI
Debt Yld
A-1
Aaa(sf)/AAAsf/AAA(sf)
52.329
2.70
30.000%
47.3%
14.3%
A-2
Aaa(sf)/AAAsf/AAA(sf)
63.220
4.93
30.000%
47.3%
14.3%
A-3
Aaa(sf)/AAAsf/AAA(sf)
  9.600
6.80
30.000%
47.3%
14.3%
A-4
Aaa(sf)/AAAsf/AAA(sf)
240.000  
9.72
30.000%
47.3%
14.3%
A-5
Aaa(sf)/AAAsf/AAA(sf)
291.371  
9.88
30.000%
47.3%
14.3%
A-AB
Aaa(sf)/AAAsf/AAA(sf)
71.630
7.34
30.000%
47.3%
14.3%
A-S
Aaa(sf)/AAAsf/AAA(sf)
58.513
9.88
24.375%
51.1%
13.2%
B
Aa3(sf)/AA-sf/AA(sf)
70.214
9.88
17.625%
55.6%
12.1%
C
A3(sf)/A-sf/A(sf)
45.509
9.90
13.250%
58.6%
11.5%
X-A
Aaa(sf)/AAAsf/AAA(sf)
786.663  
N/A
N/A
N/A
N/A
X-B
Aa3(sf)/AA-sf/AAA(sf)
115.723  
N/A
N/A
N/A
N/A
 
Collateral Summary
  
Initial Pool Balance:
$1,040.216mm
Number of Mortgage Loans:
70
Number of Mortgaged Properties:
111
Average Cut-off Date Mortgage Loan Balance:
$14.860mm
Weighted Average Mortgage Interest Rate:
4.9555%
Weighted Average Remaining Term to Maturity/ARD (months):      
115
Weighted Average Remaining Amortization Term (months):
351
Weighted Average Cut-off Date LTV Ratio:
67.5%
Weighted Average Maturity Date/ARD LTV Ratio:
57.9%
Weighted Average Underwritten Debt Service Coverage Ratio:
1.53x
Weighted Average Debt Yield on Underwritten NOI:
10.0%
% of Mortgage Loans with Additional Debt:
11.9%
% of Mortgaged Properties with Single Tenants:
5.2%
 
Property Type:       
29.8% Retail (12.8% Anchored, 12.0% Super-Regional Mall,
 
2.2% Power Center/Big Box, 1.2% Single Tenant Retail,
 
0.9% Shadow Anchored, 0.5% Unanchored)
 
20.4% Multifamily (15.2% Garden, 5.1% Student Housing)
 
12.8% Office (5.8% General Suburban, 5.2% CBD, 1.8% Medical)
 
9.9% Senior Housing (9.9% Independent Living)
 
7.8% Mixed Use (4.5% Retail/Office/Multifamily,
 
2.3% Retail/Office, 1.0% Retail/Multifamily)
 
7.4% Self Storage
 
6.5% Industrial (4.9% Flex, 1.6% Warehouse/Distribution)
 
4.9% Hospitality (4.9% Limited Service)
 
0.4% Manufactured Housing
   
Top 5 States:
12.9% NC, 12.0% ME, 11.0% TX, 8.6% NY, 6.9% MI
 
Anticipated Timing
  
Global Investor Call:     
Thurs, May 1st
Anticipated Pricing:
Week of May 5th
Anticipated Closing:
Thurs, May 22nd
   
Investor Call Details
  
Date:
Thurs, May 1st
Time:
2:00 PM EDT
US Toll Free:
719-325-2442
Passcode:
7178298

Anticipated Roadshow Schedule

Friday, May 2nd:

Boston, MA – Breakfast Meeting
  -Boston Harbor Hotel - Meritage Room
  -70 Rowes Wharf, Boston, MA
  -8:30AM ET

Minneapolis, MN - Breakfast Meeting
  -Marquette Hotel - St. Croix River Room
  -710 Marquette Avenue, Minneapolis, MN
  -9:30AM CT

Hartford, CT - Lunch Meeting
  -Marriott Hartford - Capital 3 Room
  -200 Columbus Boulevard, Hartford, CT
  -12:30PM ET


Term Sheet
<ATTACHED>

Annex A
<ATTACHED>


The information in this free writing prospectus is preliminary and may be supplemented or changed prior to the time of sale.

The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-189017) 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 entity 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 Citigroup Global Markets Inc., Goldman, Sachs & Co., 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.


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