FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226850-03 | ||
From: Bc Struct Prod Synd Barclay (BARCLAYS CAPITAL INC) At: 08/12/19 08:33:27
Subject: NEW ISSUE CMBS: BBCMS 2019-C4 ***PUBLIC IO OFFERING***
BBCMS 2019-C4 -- NEW ISSUE CMBS
$800.062MM* NEW ISSUE CMBS ***PUBLIC IO OFFERING***
JOINT BOOKRUNNERS | |
& CO-LEAD MANAGERS: | BARCLAYS CAPITAL INC. |
UBS SECURITIES LLC | |
NATIXIS SECURITIES AMERICAS LLC | |
SG AMERICAS SECURITIES, LLC | |
CO-MANAGERS: | CIBC WORLD MARKETS CORP. |
DREXEL HAMILTON, LLC | |
ACADEMY SECURITIES, INC. | |
RATING AGENCIES: | MOODY’S, FITCH & KBRA |
***PUBLIC OFFERED IO CERTIFICATES*** | |||||
RATINGS AVAILABLE | |||||
CLASS (M/F/K) | SIZE ($MM)* | WAL# | PROCEEDS | PX | GUIDANCE |
X-A | Aaa/AAA/AAA | 628.380 | 8.80 | [~80.4mm] | J+165/100CPY |
X-B | NR/A-/AAA | 171.682 | 9.69 | [~17.7mm] | J+150/100CPY |
* AVAILABLE SIZE ($MM) IS NET OF RISK RETENTION
# 100CPY TO CALL
--TRANSACTION SUMMARY-- | |
POOL BALANCE: | $937,339,143 |
NUMBER OF LOANS: | 73 |
NUMBER OF PROPERTIES: | 377 |
WA CUT-OFF LTV: | 59.3% |
WA MATURITY LTV: | 54.4% |
WA U/W NCF DSCR: | 2.15x |
WA U/W NOI DY: | 11.5% |
WA MORTGAGE RATE: | 4.43256% |
TOP 10 LOANS %: | 38.9% |
WA REM TERM MATURITY: | 116 MONTHS |
LOAN SELLERS: | BARCLAYS (22.3%), SGFC (17.6%), UBS (15.8%), SMC (13.6%) RREF (12.0%), CIBC (9.4%), NATIXIS (9.3%) |
TOP 5 PROPERTY TYPES: | OFFICE (32.4%), HOTEL (17.9%), RETAIL (15.0%), MULTIFAMILY (14.0%), INDUSTRIAL (7.6%) |
TOP 5 STATES: | CA (26.1%), NY (11.7%), PA (7.3%), LA (6.6%), FL (6.0%) |
MASTER SERVICER: | WELLS FARGO BANK, N.A. |
SPECIAL SERVICER: | RIALTO CAPITAL ADVISORS, LLC |
OPERATING ADVISOR: | PARK BRIDGE LENDER SERVICES LLC |
DIRECTING HOLDER: | RREF III-D BBCMS 2019-C4 MOA-HRR, LLC (OR ANOTHER AFFILIATE OF RIALTO CAPITAL ADVISORS, LLC AND RIALTO REAL ESTATE FUND III – DEBT, LP.) |
RISK RETENTION: | L-SHAPED |
TRUSTEE: | WILMINGTON TRUST, N.A. |
CERT. ADMIN.: | WELLS FARGO BANK, N.A. |
--ANTICIPATED TIMING-- | |
TERM SHEET/ANNEX A-1: | ATTACHED |
EXPECTED SETTLEMENT: | 8/28 |
The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (File No. 333-226850) 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 Securities and Exchange Commission 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, any underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling 1-888-603-5847.
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