| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-255934-12 | ||
From: Spgsyndicate
BMO Capital Markets (BMO CAPITAL MARKETS) <[REDACTED]>
Sent: Wednesday, April 24, 2024 2:59 PM
Subject: BMO 2024-5C4 –- Pricing Details (Public)(ext)
BMO 2024-5C4 –-
Pricing Details (Public)(ext)
$785.276mm Offered Conduit CMBS
| Co-Lead Managers & Joint Bookrunners: | BMO Capital Markets Corp., Wells Fargo |
| Securities, LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, | |
| Deutsche Bank Securities Inc. and UBS Securities LLC | |
| Co-Managers: | Academy Securities, Inc., Bancroft Capital, LLC and Drexel |
| Hamilton, LLC | |
| Rating Agencies: | Fitch/KBRA/S&P |
| Offering Type: | SEC-Registered |
Offered Certificates-Public
| Available | Credit | |||||||
| Class | Fitch/KBRA/S&P | Size($mm) | WAL(yr) | Support | Spd | Yld(%) | Cpn(%) | $Px |
| A-1 | AAAsf/AAA(sf)/AAA(sf) | 5.172 | 2.54 | 30.000% | J+113 | 5.98948 | 6.0171 | 99.99992 |
| A-2 | AAAsf/AAA(sf)/AAA(sf) | 100.000 | 4.74 | 30.000% | J+113 | 5.81580 | 6.0450 | 100.99994 |
| A-3 | AAAsf/AAA(sf)/AAA(sf) | 481.066 | 4.87 | 30.000% | J+115 | 5.82754 | 6.5262 | 102.99996 |
| A-S | AAAsf/AAA(sf)/AA-(sf) | 102.591 | 4.92 | 17.750% | J+150 | 6.17439 | 6.8660 | 102.99519 |
| B | AA-sf/AA-(sf)/NR | 42.921 | 4.92 | 12.625% | J+195 | 6.62439 | 7.2538 | 102.17340 |
| C | A-sf/A-(sf)/NR | 30.358 | 4.96 | 9.000% | J+250 | 7.17193 | 7.2538 | 99.94934 |
Transaction
Summary
| Pool Balance: | $862,941,672 |
| Number of Loans: | 39 |
| Number of Properties: | 71 |
| WA Mortgage Rate: | 7.03612% |
| WA UW NCF DSCR: | 1.71x |
| WA Cut-Off LTV: | 56.7% |
| WA UW NOI Debt Yield: | 13.2% |
| 10 Largest Loans as % IPB: | 51.6% |
| WA Rem. Term to Maturity: | 59 |
| Loan Sellers: | AREF2 (26.6%), BMO (17.4%), WFB (14.5%), SMC (11.1%), CREFI |
| (11.0%), GSMC (7.1%), LMF (6.3%), UBS (3.9%), GACC (2.0%) | |
| Top 5 Property Types: | Multifamily (31.7%), Industrial (15.5%), Office (15.5%), |
| Retail (12.6%), Mixed Use (12.6%) | |
| Top 5 States: | NY (33.3%), OH (8.2%), FL (7.5%), CA (7.1%), VA (6.4%) |
| U.S. Risk Retention: | L-shape |
| E.U. Risk Retention: | The transaction is not structured to satisfy the EU risk |
| retention and due diligence requirements. | |
| Master Servicer: | Midland Loan Services, a Division of PNC Bank, National |
| Association | |
| Special Servicer: | Argentic Services Company LP |
| Trustee/Certificate Administrator: | Computershare Trust Company, National |
| Association | |
| Operating Advisor/Asset Representations Reviewer: | Pentalpha Surveillance LLC |
| Directing Holder/Controlling Class Representative: | Argentic Securities Income |
| USA 2 LLC, an affiliate of Argentic Real Estate Finance 2 LLC and Argentic Services Company LP | |
| Anticipated Timing | |
| Anticipated Settlement: | May 15, 2024 |
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-255934) 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 any underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-864-7760.
THESE MATERIALS ARE BEING PROVIDED TO YOU FOR INFORMATIVE PURPOSES ONLY IN RESPONSE TO YOUR SPECIFIC REQUEST. THE UNDERWRITERS DESCRIBED IN THESE MATERIALS MAY FROM TIME TO TIME PERFORM INVESTMENT BANKING SERVICES FOR, OR SOLICIT INVESTMENT BANKING BUSINESS FROM, ANY COMPANY NAMED IN THESE MATERIALS. THE UNDERWRITERS AND/OR THEIR AFFILIATES OR RESPECTIVE EMPLOYEES MAY FROM TIME TO TIME HAVE A LONG OR SHORT POSITION IN ANY SECURITY OR CONTRACT DISCUSSED IN THESE MATERIALS. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO ANY PROSPECTIVE INVESTOR AND WILL BE SUPERSEDED BY INFORMATION DELIVERED TO SUCH PROSPECTIVE INVESTOR PRIOR TO THE TIME OF SALE.
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