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JP Morgan Chase Commercial Mortgage Securities

Filed: 3 Aug 21, 8:00pm

  FREE WRITING PROSPECTUS
  FILED PURSUANT TO RULE 433
  REGISTRATION FILE NO.: 333-226123-12
   

 

From: Spg Syndicate Jpm (JP MORGAN SECURITIES) At: 08/03/21 16: 17: 47

To: Spg Syndicate Jpm (JP MORGAN SECURITIES )
Subject: ★PRICING DETAILS★ $1.037BN BMARK 2021-B28 **PUBLIC CMBS**

BENCHMARK COMMERCIAL MORTGAGE SECURITIES TRUST 2021-B28 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2021-B28

 

JOINT BOOKRUNNERS & CO-LEAD MANAGERS:J.P. MORGAN SECURITIES LLC, CITIGROUP GLOBAL MARKETS INC., DEUTSCHE BANK SECURITIES INC., AND GOLDMAN SACHS & CO. LLC.
CO-MANAGERS :DREXEL HAMILTON, LLC, ACADEMY SECURITIES, INC.
RATING AGENCIES :MOODY’S/FITCH/KBRA
OFFERING TYPE :SEC-REGISTERED

 

***OFFERED CERTIFICATES - PUBLIC***

CLS

RATINGS

(M/F/K)

SIZE

($MM)

WAL

(YR)

CERT

P.WIN

CERT

C/E

CERT

LTV

CERT NOI

DEBT YLD

SPREADPX($)

CPN (%)

YLD (%)
A-1Aaa/AAA/AAA34.1642.7709/21 - 07/2630.000%40.0%14.7%S+2099.999850.59740.5897
A-2Aaa/AAA/AAA55.7824.9807/26 - 08/2630.000%40.0%14.7%S+42102.999951.78581.1546
A-3Aaa/AAA/AAA162.4026.9707/28 - 08/2830.000%40.0%14.7%S+65102.999442.07311.6112
A-4Aaa/AAA/AAA100.0009.8806/31 - 07/3130.000%40.0%14.7%S+68100.999391.97961.8675
A-5Aaa/AAA/AAA415.4669.9107/31 - 08/3130.000%40.0%14.7%S+70102.999802.22371.8895
A-SBAaa/AAA/AAA46.7457.5208/26 - 06/3130.000%40.0%14.7%%S+54102.999551.98041.5508
A-SAa1/AAA/AAA102.8889.9908/31 - 08/3122.125%44.5%13.2%S+90102.999842.42912.0948
BNR/AA-/AA+58.7939.9908/31 - 08/3117.625%47.0%12.5%S+10599.999272.24402.2448
CNR/A-/A60.4269.9908/31 - 08/3113.000%49.7%11.8%S+14099.999162.59222.5947

 

COLLATERAL SUMMARY 
CUT-OFF DATE BALANCE :$1,375,277,299
NUMBER OF LOANS :71
NUMBER OF PROPERTIES :131
WA CUT-OFF LTV :57.1%
WA MATURITY LTV :53.1%
WA U/W NCF DSCR :2.61x
WA U/W NOI DEBT YIELD :10.3%
TOP TEN LOANS % :37.2%
WA TERM TO MATURITY (MOS) :112
WA REMAINING AMORTIZATION TERM (MOS):352
WA SEASONING (MOS) :1
  
TOP 5 PROPERTY TYPES:OFFICE (33.1%), RETAIL (24.3%), MULTIFAMILY (12.6%), INDUSTRIAL (10.8%), SELF STORAGE (6.5%)
  
TOP 5 STATES:NY (31.5%), FL (9.4%), CA (7.8%), NJ (5.4%), IL (5.0%)
  
LOAN SELLERS:JPMORGAN CHASE BANK, N.A. (15.3%), CITI REAL ESTATE FUNDING INC. (45.7%), GERMAN AMERICAN CAPITAL CORPORATION. (21.5%), GOLDMAN SACHS MORTGAGE COMPANY (17.6%)
  
U.S. RISK RETENTION:AN ELIGIBLE VERTICAL RESIDUAL INTEREST WILL BE RETAINED BY JPMORGAN CHASE BANK, NATIONAL ASSOCIATION AND CITI REAL ESTATE FUNDING INC.
EU 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 :MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
OPERATING ADVISOR :PENTALPHA SURVELLIANCE LLC.
ASSET REPRESENTATIONS REVIEWER:PENTALPHA SURVELLIANCE LLC
DIRECTING CERTIFICATEHOLDER :EIGHTFOLD REAL ESTATE CAPITAL FUND V, L.P.

 

TIMING

ANTICIPATED SETTLEMENT : ON OR ABOUT AUGUST 19,2021

 

JPM SPG SYNDICATE CONTACTS

JENNIFER KORNBLAU 212-834-4154

MORGAN ROACH 212-834-4154

 

JPM CMBS BANKING CONTACTS

KUNAL SINGH 212-834-5467

DWAYNE MCNICHOLAS 212-834-9328

HARRIS RENDELSTEIN 212-834-6737

 

JPM CMBS TRADING DESK CONTACTS

AVINASH SHARMA 212-834-3111

DERRICK FETZER 212-834-3111

 

DEUTSCHE BANK TRADING DESK CONTACT

RYAN HORVATH 212-250-5149

DAN PENN 212-250-5149

 

CITIGROUP SYNDICATE DESK CONTACTS

RAUL OROZCO 212-723-1295

MATT PERRY 212-723-1295

 

GOLDMAN SACHS CMBS BANKING CONTACTS

LEAH NIVISON 212-357-2702

SCOTT EPPERSON 212-934-2882

JUSTIN PETERSON 212-902-4283

 

GOLDMAN SACHS SYNDICATE CONTACTS

SCOTT WALTER 212-357-8910

 

GOLDMAN SACHS CAPITAL MARKETS CONTACTS

MARK ROMANCZUK 212-902-0290

NITIN JAGGA 212-855-9035

 

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