| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-207677-09 | ||
From:
Sent: Thursday, July 12, 2018 10:17 AM
To:
Cc:
Subject: GSMS 2018-GS10 -- New Issue Announcement (Public)(external)
Importance: High
GSMS 2018-GS10 -- New Issue Announcement (Public)(external)
$690.196mm Fixed Rate CMBS Offering
Lead Manager and Sole Bookrunner: Goldman Sachs & Co. LLC
Co-Manager: Academy Securities
| U/W NOI | ||||||
| Class | S&P/Fitch/DBRS | Size($mm) | WAL(yr) | C/E | Cum LTV | Debt Yld |
| A-1 | AAA(sf)/AAAsf/AAA(sf) | 12.186 | 2.74 | 30.000% | 41.4% | 16.4% |
| A-2 | AAA(sf)/AAAsf/AAA(sf) | 72.497 | 4.86 | 30.000% | 41.4% | 16.4% |
| A-3 | AAA(sf)/AAAsf/AAA(sf) | 62.946 | 6.61 | 30.000% | 41.4% | 16.4% |
| A-4 | AAA(sf)/AAAsf/AAA(sf) | 175.000 | 9.65 | 30.000% | 41.4% | 16.4% |
| A-5 | AAA(sf)/AAAsf/AAA(sf) | 199.668 | 9.82 | 30.000% | 41.4% | 16.4% |
| A-AB | AAA(sf)/AAAsf/AAA(sf) | 25.167 | 7.22 | 30.000% | 41.4% | 16.4% |
| A-S | AA+(sf)/AAAsf/AAA(sf) | 68.433 | 9.90 | 21.250% | 46.6% | 14.6% |
| B | NR/AA-sf/AA(low)(sf) | 38.127 | 9.94 | 16.375% | 49.5% | 13.8% |
| C | NR/A-sf/A(low)(sf) | 36.172 | 9.94 | 11.750% | 52.2% | 13.0% |
| Collateral Summary | |
| Initial Pool Balance: | $810.710mm |
| Number of Mortgage Loans: | 33 |
| Number of Mortgaged Properties: | 57 |
| Average Cut-off Date Mortgage Loan Balance: | $24.567mm |
| Weighted Average Mortgage Interest Rate: | 4.43723% |
| Weighted Average Remaining Term to Maturity (mos): | 110 |
| Weighted Average Remaining Amortization Term (mos): | 360 |
| Weighted Average Cut-off Date LTV Ratio: | 59.2% |
| Weighted Average Maturity Date LTV Ratio: | 55.5% |
| Weighted Average Underwritten DSCR Ratio: | 2.36x |
| Weighted Average Debt Yield on Underwritten NOI: | 11.5% |
| % of Mortgage Loans with Mezzanine Debt: | 15.8% |
| % of Mortgage Loans with Subordinate Debt: | 15.8% |
| % of Mortgage Loans with Preferred Equity: | 0.0% |
| % of Mortgaged Properties with Single Tenants: | 16.8% |
| Property Type: | 34.4% Office, 24.1% Retail, 16.7% Industrial, |
| 9.6% Multifamily, 5.3% Ground Leased Land, | |
| 4.3% Manufactured Housing, 3.0% Mixed Use, | |
| 2.6% Hospitality | |
| Top 5 States: | 21.65% CA, 10.42% PA, 9.05% TX, 8.51% CO, 7.52% AZ |
| Anticipated Timing | |
| Global Investor Call: | Thursday, July 12th |
| Anticipated Pricing: | Week of July 16th |
| Anticipated Closing: | July 30, 2018 |
| Global Investor Call Details | |
| Date: | Thursday, July 12th |
| Time: | 12:00PM ET |
| US/CAN Toll Free: | 888-466-4447 |
| Passcode: | 5630379 |
Roadshow Schedule
Friday, July 13th
Hartford, CT - Breakfast Meeting
- Max Downtown
- 185 Asylum St, Hartford, CT
- 8:00AM ET
Boston, MA – Lunch Meeting
- Boston Harbor Hotel (Boardroom)
- 70 Rowes Wharf, Boston, MA
- 12:30PM ET
Friday, July 13th
Minneapolis, MN - Breakfast Meeting
- The Marquette Hotel (Minnesota River Room)
- 710 Marquette Ave, Minneapolis, MN
- 8:00AM CT
Preliminary Offering Materials
Term Sheet
Annex A
The issuer 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 issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, 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.
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