| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-207677-02 | ||
Sent: Wednesday, September 14, 2016 11:20 AM
Subject: GSMS 2016-GS3 -- New Issue Announcement (Public)(external)
GSMS 2016-GS3 -- New Issue Announcement (Public)(external)
$940.137mm Fixed Rate CMBS Offering
Lead Manager and Sole Bookrunner: Goldman, Sachs & Co.
Co-Managers: Academy Securities, Inc., Citigroup and Drexel Hamilton, LLC
| Class | Moody's/Fitch/KBRA | Size($mm) | WAL(yr) | C/E | Cum LTV | U/W NOI Debt Yld |
| A-1 | Aaa(sf)/AAAsf/AAA(sf) | 28.475 | 2.54 | 30.000% | 39.0% | 16.9% |
| A-2 | Aaa(sf)/AAAsf/AAA(sf) | 77.052 | 4.36 | 30.000% | 39.0% | 16.9% |
| A-3 | Aaa(sf)/AAAsf/AAA(sf) | 265.000 | 9.62 | 30.000% | 39.0% | 16.9% |
| A-4 | Aaa(sf)/AAAsf/AAA(sf) | 320.243 | 9.90 | 30.000% | 39.0% | 16.9% |
| A-AB | Aaa(sf)/AAAsf/AAA(sf) | 57.066 | 6.95 | 30.000% | 39.0% | 16.9% |
| A-S | Aa2(sf)/AAAsf/AAA(sf) | 93.480 | 9.94 | 21.250% | 43.9% | 15.0% |
| B | A1(sf)/AA-sf/AA(sf) | 53.417 | 9.94 | 16.250% | 46.6% | 14.1% |
| C | NR/A-sf/A(sf) | 45.404 | 9.94 | 12.000% | 49.0% | 13.4% |
Collateral Summary
| Initial Pool Balance: | $1,068.339mm | |
| Number of Mortgage Loans: | 34 | |
| Number of Mortgaged Properties: | 152 | |
| Average Cut-off Date Mortgage Loan Balance: | $31.422mm | |
| Weighted Average Mortgage Interest Rate: | 4.0217% | |
| Weighted Average Remaining Term to Maturity (months): | 114 | |
| Weighted Average Remaining Amortization Term (months): | 356 | |
| Weighted Average Cut-off Date LTV Ratio: | 55.7% | |
| Weighted Average Maturity Date LTV Ratio: | 48.8% | |
| Weighted Average Underwritten Debt Service Coverage Ratio: | 2.49x | |
| Weighted Average Debt Yield on Underwritten NOI: | 11.8% | |
| % of Mortgage Loans with Mezzanine Debt: | 23.5% | |
| % of Mortgage Loans with Subordinate Debt: | 23.5% | |
| % of Mortgaged Properties with Single Tenants: | 11.6% | |
| Property Type: | 32.7% Retail, 26.0% Office, 14.3% Hospitality, 13.7% Industrial, 11.8% Multifamily, 1.5% Mixed Use | |
| Top 5 States: | 17.0% CA, 12.9% TX, 10.7% TN, 10.1% NY, 9.3% IL | |
| Anticipated Timing | ||
| Global Investor Call: | Thursday, September 15th | |
| Anticipated Pricing: | Week of September 19th | |
| Anticipated Closing: | Friday, September 30th | |
| Global Investor Call Details | ||
| Date: | Thursday, September 15th | |
| Time: | 2:00PM ET | |
| Int’l Toll Free: | 888-262-8943 | |
| Passcode: | 780085 | |
Roadshow Schedule
Thursday, September 15th
Hartford, CT - Breakfast Meeting
- Max Downtown
- 185 Asylum St, Hartford, CT
- 8:00AM ET
Boston, MA – Lunch Meeting
- Boston Harbor Hotel (John Adams Salon)
- 70 Rowes Wharf, Boston, MA
- 12:30PM ET
Friday, September 16th
Minneapolis, MN - Breakfast Meeting
- The Marquette Hotel (Minnesota River Room)
- 710 Marquette Ave, Minneapolis, MN
- 8:00AM CT
Preliminary Offering Materials
Annex A
Term Sheet
The depositor has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-207677) for the offering to which this communication relates. Before you invest, you should read the prospectus in that 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 if you request it by calling toll-free 1-866-471-2526 or by email to prospectus-ny@gs.com .
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED (OTHER THAN ANY STATEMENT RELATING TO THE IDENTITY OF THE LEGAL ENTITY AUTHORIZING OR SENDING THIS COMMUNICATION IN A NON-US JURISDICTION). SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
