| | | FREE WRITING PROSPECTUS |
| | | FILED PURSUANT TO RULE 433 |
| | | REGISTRATION FILE NO.: 333-226082-05 |
| | | |
Sent:Wednesday, October 30, 2019 12:53 PM
Subject: GSMS 2019-GSA1 – IO (XA/XB) New Issue Announcement & IPTs (Public)(external)
Importance: High
GSMS 2019-GSA1 – IO (XA/XB) New Issue Announcement & IPTs (Public)(external)
$702.618 Fixed Rate CMBS Offering
Lead Manager and Sole Bookrunner: Goldman Sachs & Co. LLC
Co-Manager: Drexel Hamilton
| Class | S&P/Fitch/KBRA | Available Size($mm) | Approx. Proceeds ($mm) | IPTs |
| X-A | AAA(sf)/AAAsf/AAA(sf) | 663.583 | 45.60 | T+135a |
| X-B | A-(sf)/A-sf/AAA(sf) | 39.035 | 1.10 | T+135a* |
*X-B will be auctioned tomorrow at 11AM ET
Collateral Summary
| Initial Pool Balance: | $864,235,961 |
| Number of Mortgage Loans: | 49 |
| Number of Mortgaged Properties: | 84 |
| Average Cut-off Date Mortgage Loan Balance: | $17,637,469 |
| Weighted Average Mortgage Interest Rate: | 3.82418% |
| Weighted Average Remaining Term to Maturity Date (mos): | 117 |
| Weighted Average Remaining Amortization Term (mos): | 354 |
| Weighted Average Cut-off Date LTV Ratio: | 61.7% |
| Weighted Average Maturity Date LTV Ratio: | 58.9% |
| Weighted Average Underwritten DSCR Ratio: | 2.29x |
| Weighted Average Debt Yield on Underwritten NOI: | 10.3% |
| % of Mortgage Loans with Mezzanine Debt: | 0.0% |
| % of Mortgage Loans with Subordinate Debt: | 2.9% |
| % of Mortgage Loans with Preferred Equity: | 0.0% |
| % of Mortgaged Properties with Single Tenants: | 8.4% |
| | |
| Property Type: | 24.8% Retail, 19.1% Multifamily, 15.3% Mixed Use, 15.0% Office, 13.9% Hospitality, 5.3% Industrial |
| | |
| Top 3 States: | 22.6% CA, 13.6% NJ, 12.4% TX |
| | |
| Anticipated Timing | |
| | |
| Anticipated Pricing: | Thurs, Oct 31st |
| Anticipated Closing: | Friday, November 8th |
| | |
| Preliminary Offering Materials | |
| | |
| Preliminary Prospectus | |
| | |
| Term Sheet | |
| Annex | |
The issuer has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-226082) 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.
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.
________________________________
See the http://www.gs.com/disclaimer/afg/ for important information regarding this message and your reliance on information contained in it. This message may contain information that is confidential or privileged. If you are not the intended recipient, please advise the sender immediately and delete this message. See the http://www.gs.com/disclaimer/email/ for further information on confidentiality and the risks inherent in electronic communication.
