0001539497-19-000643.txt : 20190429 0001539497-19-000643.hdr.sgml : 20190429 20190429132732 ACCESSION NUMBER: 0001539497-19-000643 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190429 DATE AS OF CHANGE: 20190429 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Wells Fargo Commercial Mortgage Trust 2019-C50 CENTRAL INDEX KEY: 0001770572 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-226486-05 FILM NUMBER: 19774984 BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC CENTRAL INDEX KEY: 0000850779 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 561643598 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FORMER COMPANY: FORMER CONFORMED NAME: WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 20020304 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19960520 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19951013 FWP 1 n1589_publicprice-x9.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-05
     

 

From:  Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 04/26/19 09:03:21

WFCM 2019-C50 - PUBLIC NEW ISSUE

**PRICE GUIDANCE** $821.891 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS
& JOINT BOOKRUNNERS:		 WELLS FARGO SECURITIES, LLC
  BARCLAYS CAPITAL INC.
  UBS SECURITIES LLC
   
CO-MANAGER: ACADEMY SECURITIES, INC.
  DREXEL HAMILTON, LLC
   

OFFERED CERTIFICATES - PUBLIC

 

CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY PX GUIDANCE
A-1 AAAsf/AAA(sf)/Aaa(sf) 31.064 30.000% 2.67 43.9% 16.8% IS+35A
A-2 AAAsf/AAA(sf)/Aaa(sf) 71.796 30.000% 4.73 43.9% 16.8% IS+52A
A-3 AAAsf/AAA(sf)/Aaa(sf) 3.550 30.000% 6.75 43.9% 16.8% Preplaced
A-SB AAAsf/AAA(sf)/Aaa(sf) 54.377 30.000% 7.17 43.9% 16.8% IS+72A
A-4* AAAsf/AAA(sf)/Aaa(sf) 245.000 30.000% 9.74 43.9% 16.8% IS+84A
A-5* AAAsf/AAA(sf)/Aaa(sf) 250.788 30.000% 9.89 43.9% 16.8% IS+86A
A-S AAAsf/AAA(sf)/Aa2(sf) 85.589 20.875% 9.92 49.6% 14.8% IS+115A
B AA-sf/AA(sf)/NR 39.864 16.625% 9.92 52.3% 14.1% IS+135A
C A-sf/A(sf)/NR 39.863 12.375% 9.92 54.9% 13.4% IS+180A
               

*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet.

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
X-D BBB-sf/BBB-(sf)/NR 46.899 N/A N/A N/A N/A
D BBBsf/BBB+(sf)/NR 25.794 9.625% 9.97 56.7% 13.0%
E BBB-sf/BBB-(sf)/NR 21.105 7.375% 10.00 58.1% 12.7%

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $937,965,076
NUMBER OF LOANS: 64
NUMBER OF PROPERTIES: 346
WA CUT-OFF LTV: 62.7%
WA BALLOON LTV: 55.7%
WA U/W NCF DSCR: 1.83x
WA U/W NOI DEBT YIELD: 11.7%
WA MORTGAGE RATE: 5.043%
TOP TEN LOANS %: 34.7%
WA REM TERM TO MATURITY (MOS): 114
WA REM AMORTIZATION TERM (MOS): 350
WA SEASONING (MOS): 2
   
LOAN SELLERS: WFB(25.8%), UBS AG(23.0%), RMF(14.5%), BARCLAYS(13.1%), RREF(12.8%), AREF(10.8%)
   
TOP 3 PROPERTY TYPES: RETAIL(29.8%), HOSPITALITY(18.8%), OFFICE(18.0%)
   
TOP 5 STATES: OH(15.4%), CA(13.6%), TX(11.1%), FL(7.7%), MI(7.4%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
   
SPECIAL SERVICER: RIALTO CAPITAL ADVISORS, LLC
   
DIRECTING CERTIFICATEHOLDER: RREF III-D WFCM 2019-C50, LLC OR ANOTHER AFFILIATE OF RIALTO CAPITAL ADVISORS, LLC AND RIALTO REAL ESTATE FUND III - DEBT, LP
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PRESALE REPORTS: TODAY
ANTICIPATED PRICING: WEEK OF APRIL 29, 2019
ANTICIPATED SETTLEMENT: MAY 14, 2019
   
CONFERENCE CALLS: UPON DEMAND
   

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. 333-226486) 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.