0001539497-24-000698.txt : 20240315 0001539497-24-000698.hdr.sgml : 20240315 20240315140807 ACCESSION NUMBER: 0001539497-24-000698 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240315 DATE AS OF CHANGE: 20240315 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BBCMS Mortgage Trust 2024-5C25 CENTRAL INDEX KEY: 0002013825 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] ORGANIZATION NAME: Office of Structured Finance FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-257737-13 FILM NUMBER: 24753889 BUSINESS ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-412-4000 MAIL ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Barclays Commercial Mortgage Securities LLC CENTRAL INDEX KEY: 0001541480 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] ORGANIZATION NAME: Office of Structured Finance IRS NUMBER: 270108800 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-412-4000 MAIL ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FWP 1 n4076_x9-pricingdetail.htm FWP

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-257737-13

Subject: ** NEW ISSUE CMBS: BBCMS 2024-5C25 ** PUBLIC PRICING DETAIL

NEW ISSUE CMBS: BBCMS 2024-5C25

$792.209MM NEW ISSUE CMBS ***PUBLIC OFFERING***

JOINT LEADS:	BARCLAYS; BMO CAPITAL MARKETS; CITIGROUP;
	DEUTSCHE BANK SECURITIES; KEYBANC CAPITAL MARKETS;
	SOCIÉTÉ GÉNÉRALE; UBS SECURITIES LLC


CO-MANAGERS:	BANCROFT CAPITAL, LLC; DREXEL HAMILTON

RATING AGENCIES:	S&P; FITCH; KBRA

*PUBLIC OFFERED CERTIFICATES*

CLASS	RATINGS (S/F/K)	SIZE ($MM)	C/E	WAL	COUPON	PRICE	YIELD	SPREAD
A-1	AAA/AAA/AAA	0.821	30.000%	3.06	-------------Auction---------------
A-3	AAA/AAA/AAA	619.650	30.000%	4.88	5.946	102.99869	5.25134	J+ 92
A-S	AA-/AAA/AAA	96.395	19.125%	4.96	6.358	102.99710	5.67356	J+135
B	NR/AA-/AA-	43.211	14.250%	4.96	6.151	99.99713	6.17356	J+185
C	NR/A-/A-	32.132	10.625%	4.96	6.643	99.99634	6.67356	J+235

PRICED TOE:	11:14 AM ET

- SETTLEMENT:	ON OR ABOUT THURSDAY, MARCH 28, 2024


TRANSACTION SUMMARY
- POOL BALANCE:	$886,388,000
- NUMBER OF LOANS:	33
- NUMBER OF PROPS:	38
- WA CUT-OFF LTV:	55.1%
- WA MATURITY LTV:	55.0%
- WA U/W NCF DSCR:	1.72x
- WA U/W NOI DY:	13.1%
- WA MORTGAGE RATE:	7.15651%
- TOP 10 LOANS %:	59.9%
- WA REM TERM:	59 MONTHS
- TOP 5 PROP TYPES:	RETAIL (37.8%); MULTIFAMILY (17.5%); HOSPITALITY (16.4%); OFFICE (11.2%); MIXED USE (8.4%)
- TOP 5 STATES:	NY (35.4%); CA (18.3%); OH (6.5%); FL (6.5%); IA (5.8%)


DEAL PARTIES
- MASTER SERVICER:	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A.
- SPECIAL SERVICER:	3650 REIT LOAN SERVICING LLC
- OPERATING ADVISOR:	PENTALPHA SURVEILLANCE LLC
- DIRECTING HOLDER:	3650 REAL ESTATE INVESTMENT TRUST 2 LLC OR AFFILIATE
- TRUSTEE:	COMPUTERSHARE TRUST COMPANY, N.A.
- CERT. ADMIN.:	COMPUTERSHARE TRUST COMPANY, N.A.

----------------------------------------------------

THE SECURITIES OFFERED BY THESE MATERIALS 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 THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THESE 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, THE COMPANION LOAN HOLDERS (OR THEIR REPRESENTATIVES), THE UNDERWRITERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THESE SECURITIES NOR THE MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) FOR THIS OFFERING. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS FOR THIS OFFERING IN THAT REGISTRATION STATEMENT, AND OTHER DOCUMENTS THAT THE ISSUER HAS FILED WITH THE SEC, FOR MORE COMPLETE INFORMATION ABOUT THE ISSUER AND THIS OFFERING. YOU MAY GET THESE DOCUMENTS FOR FREE BY SEARCHING THE SEC ONLINE DATABASE (EDGAR) AT WWW.SEC.GOV. ALTERNATIVELY, YOU MAY OBTAIN A COPY OF THE PROSPECTUS FROM BARCLAYS CAPITAL INC. 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.