FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-207132-02 | ||
From: CITI CMBS SYNDICATE (CITIGROUP GLOBAL MAR)
At: Mar 23 2016 11:10:11
CGCMT 2016-P3 -- New Issue Announcement (Public)
661.108mm Fixed Rate CMBS Offering
Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets Inc. and Societe Generale
Co-Manager: Drexel Hamilton, LLC
Class | Moody's/Fitch/KBRA | Size($mm) | WAL(yr) | C/E | Cum LTV | U/W NOI Debt Yld |
A-1 | Aaa(sf)/AAAsf/AAA(sf) | 13.614 | 2.76 | 30.000% | 40.4% | 15.4% |
A-2 | Aaa(sf)/AAAsf/AAA(sf) | 98.127 | 4.71 | 30.000% | 40.4% | 15.4% |
A-3 | Aaa(sf)/AAAsf/AAA(sf) | 175.000 | 9.63 | 30.000% | 40.4% | 15.4% |
A-4 | Aaa(sf)/AAAsf/AAA(sf) | 221.743 | 9.79 | 30.000% | 40.4% | 15.4% |
A-AB | Aaa(sf)/AAAsf/AAA(sf) | 31.196 | 7.21 | 30.000% | 40.4% | 15.4% |
A-S | Aa3(sf)/AAAsf/AAA(sf) | 40.476 | 9.90 | 24.750% | 43.5% | 14.3% |
B | NR/AA-sf/AA(sf) | 42.404 | 9.92 | 19.250% | 46.7% | 13.4% |
C | NR/A-sf/A-(sf) | 38.548 | 9.92 | 14.250% | 49.5% | 12.6% |
X-A | Aa1(sf)/AAAsf/AAA(sf) | 580.156 | N/A | N/A | N/A | N/A |
X-B | NR/AA-sf/AAA(sf) | 42.404 | N/A | N/A | N/A | N/A |
Collateral Summary | |
Initial Pool Balance: | $770.972mm |
Number of Mortgage Loans: | 37 |
Number of Mortgaged Properties: | 75 |
Average Cut-off Date Mortgage Loan Balance: | $20.837mm |
Weighted Average Mortgage Interest Rate: | 4.8564% |
Weighted Average Remaining Term to Maturity (months): | 110 |
Weighted Average Remaining Amortization Term (months): | 359 |
Weighted Average Cut-off Date LTV Ratio: | 57.8% |
Weighted Average Maturity Date LTV Ratio: | 53.6% |
Weighted Average Underwritten Debt Service Coverage Ratio: | 1.82x |
Weighted Average Debt Yield on Underwritten NOI: | 10.8% |
% of Mortgage Loans with Mezzanine Debt: | 5.4% |
% of Mortgaged Properties with Single Tenants: | 23.3% |
Property Type: | 31.3% Office, 22.2% Retail, 20.5% Hospitality, 15.4% Industrial, 2.7% Mixed Use, 2.5% Land, 2.1% Self Storage, 1.5% Multifamily, 1.1% Other, 0.7% Manufactured Housing |
Top 5 States: | 39.8% NY, 8.4% SD, 7.3% CA, 5.2% MN, 4.0% MD |
Anticipated Timing | |
Global Investor Call: | Wednesday, March 23rd |
Anticipated Pricing: | Week of March 28th |
Anticipated Closing: | Wednesday, April 13th |
Investor Call Details | |
Date: | Wednesday, March 23rd |
Time: | 2:00PM ET |
US Toll Free: | 719-457-6800 |
Passcode: | 9063462 |
Roadshow Schedule: | Thursday, March 24th |
Hartford, CT - Breakfast Meeting
-Max Downtown (Blue Room)
-185 Asylum Street, Hartford, CT
-8:30AM ET
Boston, MA – Lunch Meeting
-The Langham Hotel (Madison Room)
-250 Franklin Street, Boston, MA
-12:30PM ET
Minneapolis, MN - Breakfast Meeting
-The Grand Hotel (Harriet/Cedar Room)
-615 Second Avenue South, Minneapolis, MN
-8:00AM CT
<Annex A>
<Term Sheet>
The information in this free writing prospectus is preliminary and may be supplemented or changed prior to the time of sale.
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-207132) 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 atwww.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., SG Americas Securities, LLC, Drexel Hamilton, LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.
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