| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-226850-01 | ||
BBCMS 2018-C2 -- NEW ISSUE CMBS
$788.176MM NEW ISSUE CMBS ***PRICING DETAIL***
| JOINT BOOKRUNNERS | |
| & CO-LEAD MANAGERS: | BARCLAYS CAPITAL INC. |
| CANTOR FITZGERALD & CO. | |
| CO-MANAGERS: | DREXEL HAMILTON, LLC |
| KEYBANC CAPITAL MARKETS INC. | |
| RATING AGENCIES: | S&P, FITCH & DBRS |
***PUBLIC OFFERED CERTIFICATES***
| RATINGS | AVAILABLE | ||||||
| CLASS | (S/F/D) | SIZE ($MM)* | C/E | CPN | PRICE | YIELD | SPREAD |
| A-1 | AAA/AAA/AAA | 12.286 | 30.000% | 3.396 | 99.9997 | 3.3677 | IntS + 40 |
| A-2 | AAA/AAA/AAA | 10.000 | 30.000% | 3.502 | 99.9972 | 3.4944 | IntS + 55 |
| A-3 | AAA/AAA/AAA | 29.000 | 30.000% | 4.052 | 100.9967 | 3.8924 | IntS + 96 |
| A-4 | AAA/AAA/AAA | 154.000 | 30.000% | 4.047 | 100.9925 | 3.9356 | IntS + 97 |
| A-5 | AAA/AAA/AAA | 362.100 | 30.000% | 4.314 | 102.9960 | 3.9587 | IntS + 99 |
| A-SB | AAA/AAA/AAA | 33.000 | 30.000% | 4.236 | 102.9979 | 3.7534 | IntS + 82 |
| A-S | AA/AAA/AAA | 81.481 | 20.500% | 4.624 | 102.9999 | 4.2705 | IntS + 130 |
| B | NR/AA-/AA(H) | 38.596 | 16.000% | 4.7458 | 102.9991 | 4.4705 | IntS + 150 |
| C | NR/A-/AA(L) | 37.524 | 11.625% | 4.9698 | 98.9005 | 5.2205 | IntS + 225 |
* AVAILABLE SIZE ($MM) IS NET OF RISK RETENTION
| COLLATERAL SUMMARY: | |
| POOL BALANCE: | $891,853,554 |
| NUMBER OF LOANS: | 44 |
| NUMBER OF PROPERTIES: | 87 |
| WA CUT-OFF LTV: | 58.7% |
| WA UNDERWRITTEN NCF DSCR: | 1.95x |
| WA UNDERWRITTEN NOI DEBT YIELD: | 11.6% |
| WA MORTGAGE INTEREST RATE: | 4.99123% |
| WA REM. TERM TO MATURITY (MOS): | 116 |
| LOAN SELLERS: | SMC (34.0%), BARCLAYS (33.6%), CCRE (16.9%), KEYBANK (15.4%) |
| TOP 5 PROPERTY TYPES: | OFFICE (37.0%), RETAIL (24.8%), HOSPITALITY (19.1%), MIXED USE (8.2%), MULTIFAMILY (4.4%), INDUSTRIAL (4.4%) |
| TOP 5 STATES: | CA (19.5%), TX (13.7%), DE (10.6%), AZ (9.1%), NV (7.5%) |
| TOP 10 & 5 LOANS | |
| AS A % OF POOL: | 48.8% & 29.5% |
| MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| SPECIAL SERVICER: | LNR PARTNERS, LLC |
| OPERATING ADVISOR: | PARK BRIDGE LENDER SERVICES LLC |
| DIRECTING HOLDER: | LNR SECURITIES HOLDINGS, LLC (OR ITS AFFILIATE) |
| TRUSTEE: | WILMINGTON TRUST, NATIONAL ASSOCIATION |
| CERT. ADMINISTRATOR: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| ANTICIPATED TIMING: | |
| PRICING: | PRICED |
| TERM SHEET, ANNEX A-1 | |
| & RED: | ATTACHED |
| THIRD PARTY SYSTEMS: | AVAILABLE |
| PRE-SALE REPORTS: | AVAILABLE |
| ANTICIPATED SETTLEMENT: | 12/20 |
The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (File No. 333-226850) 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 Securities and Exchange Commission 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, any underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling 1-888-603-5847.
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