----- Original Message -----
From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITI)
To: MELISSA BAND (WELLS FARGO SECURITI)
At: May 11 2015 10:07:30
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 - PUBLIC NEW ISSUE
** $1,076 MM FIXED-RATE CMBS OFFERING
LEAD MANAGER & SOLE BOOKRUNNER: WELLS FARGO SECURITIES
CO-MANAGERS: DEUTSCHE BANK SECURITIES, MORGAN STANLEY
OFFERED CERTIFICATES - PUBLIC
CLASS
|
DBRS/KBRA/MDY
|
SIZE($MM)
|
C/E
|
WAL
|
GUIDANCE
|
A-1
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
42.399
|
30.000%
|
2.77
|
40A
|
A-2
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
54.565
|
30.000%
|
4.86
|
52A
|
A-3
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
285.000
|
30.000%
|
9.87
|
|
A-4
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
346.130
|
30.000%
|
9.90
|
85A
|
A-SB
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
87.186
|
30.000%
|
7.48
|
74A
|
A-S
|
AAA(sf)/AAA(sf)/Aa2(sf)
|
88.807
|
22.375%
|
9.90
|
115-120
|
B
|
AA(low)(sf)/AA-(sf)/NR
|
62.602
|
17.000%
|
9.98
|
150-155
|
C
|
A(low)(sf)/A-(sf)/NR
|
50.955
|
12.625%
|
9.98
|
205-210
|
D
|
BBB(low)(sf)/BBB-(sf)/NR
|
58.235
|
7.625%
|
9.98
|
330-335
|
NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASS
|
DBRS/KBRA/MDY
|
SIZE($MM)
|
C/E
|
WAL
|
A-4FL
|
AAA(sf)/AAA(sf)/Aaa(sf)
|
346.130
|
30.000%
|
9.90
|
COLLATERAL SUMMARY
CUT-OFF DATE BALANCE: $1,164,686,419
NUMBER OF LOANS: 99
NUMBER OF PROPERTIES: 134
WA CUT-OFF LTV: 65.0%
WA BALLOON LTV: 57.5%
WA U/W NCF DSCR: 1.69x
WA U/W NOI DEBT YIELD: 10.3%
WA MORTGAGE RATE: 4.171%
TOP TEN LOANS %: 47.3%
WA REM TERM TO MATURITY (MOS): 116
WA AMORTIZATION TERM (MOS): 347
WA SEASONING (MOS): 2
LOAN SELLERS: WFB(55.1%), RMF(24.1%), C-III(12.7%), BASIS(8.1%)
TOP 5 PROPERTY TYPES: RETAIL(33.8%), OFFICE(25.2%), SELF STORAGE(12.4%),
HOSPITALITY(9.9%), MULTIFAMILY(8.4%)
TOP 5 STATES: CA(26.3%), TX(11.2%), PA(9.0%),
NY(5.7%), FL(5.6%)
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
SPECIAL SERVICER: MIDLAND LOAN SERVICES
SUBORDINATE CLASS REP: AFFILIATE OF KKR SECURITIES HOLDINGS, LLC
DOCUMENTS & TIMING
TERM SHEET, ANNEX A-1, ATTACHED
PRELIMINARY FWP: ATTACHED
PRESALE REPORTS: MON, 5/4 - TUES, 5/5
ANTICIPATED PRICING: THIS WEEK
ANTICIPATED SETTLEMENT: MAY 21, 2015
PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM
REVIEW CODE: WFCM3478 (not case-sensitive)
DIRECT LINK: http://www.netroadshow.com/nrs/wp/default.html?show=4a8C56
Wells Fargo Commercial Mortgage Securities, Inc., as depositor, has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-195164) 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 Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.
-------------------------------------------------------------------------------
If this communication relates to an offering of US registered securities (i) a registration statement has been filed with the SEC, (ii) before investing you should read the filed documents, and (iii) you many obtain these documents from your sales representative, by calling 1-800-326-5897 or visiting www.sec.gov. If this communication relates to a securities offering exempt from US registration, you should contact your sales representative for the complete disclosure package. For information regarding Wells Fargo, see https://www.wellsfargo.com/com/disclaimer/wfid3. In Japan, see:
https://www.wellsfargo.com/com/disclaimer/wfsjb4.