FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226850-02 | ||
From: Bc Struct Prod Synd Barclay (BARCLAYS CAPITAL INC) At: 05/20/19 16:12:25
To: [REDACTED] (BARCLAYS CAPITAL INC
)
Subject: BBCMS 2019-C3 – X-A & X-B (IO Pricing Details)
BBCMS 2019-C3 – X-A & X-B (IO Pricing Details)
NEW ISSUE CMBS ***PUBLIC OFFERING***
JOINT BOOKRUNNERS | |
& CO-LEAD MANAGERS: | BARCLAYS CAPITAL INC. |
UBS SECURITIES LLC | |
NATIXIS SECURITIES AMERICAS LLC | |
SG AMERICAS SECURITIES, LLC | |
CO-MANAGERS: | DREXEL HAMILTON, LLC & KEYBANC CAPITAL MARKETS INC. |
RATING AGENCIES: | S&P, FITCH & KBRA |
***PUBLIC OFFERED CERTIFICATES***
RATINGS NOTIONAL
CLASS | (S/F/K) | SIZE ($MM) | PROCEEDS($MM) | SPREAD | CPN | YIELD | PRICE |
X-A | AAA/AAA/AAA | 655.654 | ~69MM | J+145 | 1.349004 | 3.82011 | 10.4969 |
X-B | NR/A-/AAA | 167.426 | ~11.5MM | J+105 | 0.775873 | 3.44817 | 6.9222 |
COLLATERAL SUMMARY: | |
POOL BALANCE: | $936,649,542 |
NUMBER OF LOANS: | 50 |
NUMBER OF PROPERTIES: | 517 |
WA CUT-OFF LTV: | 60.2% |
WA UNDERWRITTEN NCF DSCR: | 1.93x |
WA UNDERWRITTEN NOI DEBT YIELD: | 11.2% |
WA MORTGAGE INTEREST RATE: | 4.80232% |
WA REM. TERM TO MATURITY (MOS): | 115 |
LOAN SELLERS: | BARCLAYS (29.7%), SGFC (28.5%), KEYBANK (13.0%), UBS AG (12.7%), NATIXIS (9.9%), RMF (6.2%) |
TOP 5 PROPERTY TYPES: | OFFICE (26.6%), HOTEL (19.9%), SELF STORAGE (13.4%), RETAIL (12.3%), INDUSTRIAL (11.2%) |
TOP 5 STATES: | CA (12.9%), FL (10.0%), PA (7.8%), TX (7.8%), NC (6.6%) |
TOP 10 & 5 LOANS | |
AS A % OF POOL: | 45.4% & 26.5% |
MASTER SERVICER: | MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A. |
SPECIAL SERVICER: | MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A. |
OPERATING ADVISOR: | PENTALPHA SURVEILLANCE LLC |
DIRECTING HOLDER: | KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS AGGREGATOR I L.P. (OR ITS AFFILIATE)) |
TRUSTEE: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
CERT. ADMINISTRATOR: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
ANTICIPATED TIMING: | |
TERM SHEET, ANNEX A-1& RED: | ATTACHED |
ANTICIPATED SETTLEMENT: | 6/11 |
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.
Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this document 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.
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