FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226850-02 | ||
From: Bc Struct Prod Synd Barclay (BARCLAYS CAPITAL INC) At: 05/13/19 09:13:46
Subject: New Issue CMBS: BBCMS 2019-C3 **PUBLIC ANNOUNCEMENT*
BBCMS 2019-C3 -- NEW ISSUE CMBS
$823.080MM NEW ISSUE CMBS ***PUBLIC OFFERING***
JOINT BOOKRUNNERS & CO-LEAD MANAGERS: BARCLAYS CAPITAL INC.
UBS SECURITIES LLC
NATIXIS SECURITIES AMERICAS LLC
SG AMERICAS SECURITIES, LLC
CO-MANAGERS: DREXEL HAMILTON, LLC & KEYBANC CAPITAL MARKETS INC.
RATING AGENCIES: S&P, FITCH & KBRA
***PUBLIC OFFERED CERTIFICATES***
CLASS | RATINGS (S/F/K) | SIZE ($MM) | C/E | WAL | LTV | DY |
A-1 | AAA/AAA/AAA | 16.654 | 30.000% | 2.88 | 42.1% | 16.0% |
A-2 | AAA/AAA/AAA | 30.000 | 30.000% | 4.68 | 42.1% | 16.0% |
A-3** | AAA/AAA/AAA | [280.000] | 30.000% | [9.58] | 42.1% | 16.0% |
A-4** | AAA/AAA/AAA | [293.000] | 30.000% | [9.84] | 42.1% | 16.0% |
A-SB | AAA/AAA/AAA | 36.000 | 30.000% | 7.02 | 42.1% | 16.0% |
A-S | AA/AAA/AAA | 87.811 | 20.625% | 9.90 | 47.8% | 14.1% |
B | NR/AA-/AA | 39.808 | 16.375% | 9.93 | 50.3% | 13.4% |
C | NR/A-/A- | 39.807 | 12.125% | 9.93 | 52.9% | 12.7% |
** A-3 AND A-4 AVAILABLE SIZES ($MM) AND WALs ARE SUBJECT TO CHANGE AS DETAILED IN THE ATTACHED TERM SHEET. RANGE OF POSSIBLE AVAILABLE SIZES ($MM) BELOW:
A-3: 100.000 – 325.000
A-4: 248.100 – 473.100
COLLATERAL SUMMARY: | |
POOL BALANCE: | $936,649,542 |
NUMBER OF LOANS: | 50 |
NUMBER OF PROPERTIES: | 517 |
WA CUT-OFF LTV: | 60.2% |
WA UNDERWRITTEN NCF DSCR: | 1.93x |
WA UNDERWRITTEN NOI DEBT YIELD: | 11.2% |
WA MORTGAGE INTEREST RATE: | 4.80232% |
WA REM. TERM TO MATURITY (MOS): | 115 |
LOAN SELLERS: | BARCLAYS (29.7%), SGFC (28.5%), KEYBANK (13.0%), UBS AG (12.7%), NATIXIS (9.9%), RMF (6.2%) |
TOP 5 PROPERTY TYPES: | OFFICE (26.6%), HOTEL (19.9%), SELF STORAGE (13.4%), RETAIL (12.3%), INDUSTRIAL (11.2%) |
TOP 5 STATES: | CA (12.9%), FL (10.0%), PA (7.8%), TX (7.8%), NC (6.6%) |
TOP 10 & 5 LOANS AS A % OF POOL: | 45.4% & 26.5% |
MASTER SERVICER: | MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A. |
SPECIAL SERVICER: | MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A. |
OPERATING ADVISOR: | PENTALPHA SURVEILLANCE LLC |
DIRECTING HOLDER: | KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS AGGREGATOR I L.P. (OR ITS AFFILIATE)) |
TRUSTEE: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
CERT. ADMINISTRATOR: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
ANTICIPATED TIMING:
TERM SHEET, ANNEX A-1
& RED: ATTACHED
THIRD PARTY SYSTEMS: TODAY (5/13)
NYC 1-ON-1 MEETINGS: WEDNESDAY (5/15) *CONTACT SALES COVERAGE*
PRE-SALE REPORTS: TODAY (5/13) OR TOMORROW (5/14)
ANTICIPATED SETTLEMENT: 6/11
ROADSHOW SCHEDULE:
>> NORTHEAST: MONDAY 5/13
08:30AM EST: BREAKFAST, MAX DOWNTOWN (ALFRED ROOM), HARTFORD, CT
12:00PM EST: LUNCH, BOSTON HARBOR HOTEL (JOHN ADAMS SALON), BOSTON, MA
>> MIDWEST: TUESDAY 5/14
7:30AM CST: BREAKFAST, THE GRAND HOTEL (3 MISSISSIPPI), MINNEAPOLIS, MN
1:00PM CST: LUNCH, THE DES LUX HOTEL (THE BOARDROOM), DES MOINES, IA
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.
Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this document is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
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