0001539497-24-001036.txt : 20240515 0001539497-24-001036.hdr.sgml : 20240515 20240515155943 ACCESSION NUMBER: 0001539497-24-001036 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240515 DATE AS OF CHANGE: 20240515 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Benchmark 2024-V7 Mortgage Trust CENTRAL INDEX KEY: 0002016841 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] ORGANIZATION NAME: Office of Structured Finance STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-262701-06 FILM NUMBER: 24949973 BUSINESS ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128165343 MAIL ADDRESS: STREET 1: 390 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] ORGANIZATION NAME: Office of Structured Finance IRS NUMBER: 861073506 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128165343 MAIL ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 FWP 1 n4255_x7-newissue.htm FWP

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-262701-06

From: Citi Cmbs Syndicate (CITIGROUP GLOBAL MAR) <[REDACTED] >

Sent: Wednesday, May 15, 2024 1:29 PM

Subject: BMARK 2024-V7 -- New Issue Announcement (Public)

[EXTERNAL]

BMARK 2024-V7 -- New Issue Announcement (Public)

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

Co-Managers:	Drexel Hamilton, LLC, Siebert Williams Shank & Co., LLC

Class	Expected Ratings S&P/Fitch/KBRA	Size($mm)	C/E	WAL	Cum LTV	U/W NOI Debt Yld
A-1	AAA(sf)/AAAsf/AAA(sf)	1.650	30.000%	3.30	39.8%	17.4%
A-2	AAA(sf)/AAAsf/AAA(sf)	250.000*	30.000%	4.83*	39.8%	17.4%
A-3	AAA(sf)/AAAsf/AAA(sf)	316.784*	30.000%	4.91*	39.8%	17.4%
A-S	NR/AAAsf/AAA(sf)	86.280	19.375%	4.96	45.8%	15.1%
B	NR/AA-sf/AA(sf)	40.602	14.375%	4.96	48.6%	14.2%

* 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
A-2	0 - 250.000	N/A - 4.83
A-3	316.784 – 566.784	4.91 – 4.87

Collateral Summary

Initial Pool Balance $821,890,000
Number of Mortgage Loans 27
Number of Mortgaged Properties 80
Average Cut-off Date Balance $30,440,370
Weighted Average Mortgage Rate 6.86829%
Weighted Average Remaining Term to Maturity/ARD (months) 59
Weighted Average Remaining Amortization Term (months) 360
Weighted Average Cut-off Date LTV Ratio 56.8%
Weighted Average Maturity Date/ARD LTV Ratio 56.6%
Weighted Average UW NCF DSCR 1.68x
Weighted Average Debt Yield on Underwritten NOI 12.2%
% of Initial Pool Balance of Mortgage Loans that are Interest Only 91.0%
% of Initial Pool Balance of Mortgaged Properties with Single Tenants 14.1%

Property Type: 26.2% Office, 17.3% Industrial, 14.4% Self Storage, 13.5% Multifamily, 12.9% Mixed Use, 10.4% Hospitality, 5.4% Retail

Top States: 32.6% New York, 12.7% California, 11.7% Virginia

Risk Retention: L-shaped

Master Servicer: Midland Loan Services, a Division of PNC Bank, National Association

Special Servicer: K-Star Asset Management LLC

Operating Advisor: Park Bridge Lender Services LLC

Trustee: Computershare Trust Company, National Association

Cert. Administrator: Computershare Trust Company, National Association

Anticipated Timing

Anticipated Pricing: Week of 5/20/2024

Anticipated Settlement: 5/30/2024

Term Sheet

Annex A-1

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-262701) for the offering to which this free writing prospectus 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., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, BMO Capital Markets Corp., Barclays Capital Inc., Drexel Hamilton, LLC, Siebert Williams Shank & Co., LLC or any other underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.

The information in this file (the “File”) is an electronic copy of the information set forth in the Annex titled “Certain Characteristics of the Mortgage Loans and Mortgaged Properties” to the prospectus. This File does not contain all information that is required to be included in the prospectus. This File should be reviewed only in conjunction with the entire prospectus. Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision. Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.

The information in this File is preliminary and may be amended and/or supplemented prior to the time of sale. The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.

The securities related to this File are being offered when, as and if issued. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy such securities in any state or other jurisdiction where such offer, solicitation or sale is not permitted. Such securities do not represent an interest in or obligation of the depositor, the sponsors, the originators, the master servicer, the special servicer, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, any risk retention consultation parties, the companion loan holders (or their representatives), the underwriters or any of their respective affiliates. Neither such securities nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or private insurer.

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 being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, 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.