FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226850-05 | ||
BBCMS 2020-C6 -- NEW ISSUE CMBS
$792.922 NEW ISSUE CMBS ***PUBLIC OFFERING***
JOINT BOOKRUNNERS &
CO-LEAD MANAGERS: BARCLAYS CAPITAL INC.
SG AMERICAS SECURITIES, LLC
CO-MANAGERS: BANCROFT CAPITAL, LLC
DREXEL HAMILTON
RATING AGENCIES: S&P, FITCH & DBRS MORNINGSTAR
***PUBLIC OFFERED CERTIFICATES***
CLASS | RATINGS (S/F/D) | AVAILABLE SIZE ($MM) | C/E | WAL | CPN | YIELD | PRICE | SPREAD |
A-1 | AAA/AAA/AAA | 14.352 | 30.000% | 2.87 | 1.8060 | 1.78772 | 99.9990 | S+39 |
A-2 | AAA/AAA/AAA | 88.400 | 30.000% | 4.84 | 2.6900 | 2.02567 | 102.9975 | S+65 |
A-3** | AAA/AAA/AAA | 208.000 | 30.000% | 9.80 | 2.3900 | 2.27680 | 100.9950 | S+78 |
A-4** | AAA/AAA/AAA | 278.300 | 30.000% | 9.87 | 2.6390 | 2.29837 | 102.9995 | S+80 |
A-SB | AAA/AAA/AAA | 26.810 | 30.000% | 7.41 | 2.5950 | 2.15123 | 102.9949 | S+72 |
A-S | AA/AAA/AAA | 105.576 | 18.000% | 9.91 | 2.8400 | 2.49930 | 102.9914 | S+100 |
B | NR/AA-/AA(h) | 37.392 | 13.750% | 9.91 | 3.0430 | 2.69931 | 102.9990 | S+120 |
C | NR/A-/A | 34.092 | 9.875% | 9.96 | 3.0450 | 3.05059 | 99.9985 | S+155 |
--TRANSACTION SUMMARY-- | |
POOL BALANCE: | $904,003,147 |
NUMBER OF LOANS: | 45 |
NUMBER OF PROPERTIES: | 118 |
WA CUT-OFF LTV: | 56.6% |
WA MATURITY LTV: | 53.3% |
WA U/W NCF DSCR: | 2.75x |
WA U/W NOI DY: | 11.2% |
WA MORTGAGE RATE: | 3.61658% |
TOP 10 LOANS %: | 53.4%** |
WA REM TERM MATURITY: | 113 MONTHS |
** Includes crossed loans #10, #11, #12, #13, and #14 | |
LOAN SELLERS: | BARCLAYS (50.5%), SGFC (27.3%), SMC (22.2%) |
TOP 5 PROPERTY TYPES: | Office (20.4%), Retail (20.2%), Mixed Use (19.0%), Multifamily (17.1%), Hotel (12.1%) |
TOP 5 STATES: | NY (21.4%), CA (14.3%), GA (6.1%), NJ (6.0%), NC (5.8%) |
MASTER SERVICER: | MIDLAND LOAN SERVICES |
SPECIAL SERVICER: | MIDLAND LOAN SERVICES |
OPERATING ADVISOR: | PENTALPHA SURVEILLANCE LLC |
DIRECTING HOLDER: | KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS II L.P. |
RISK RETENTION: | L-SHAPED |
TRUSTEE: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
CERT. ADMIN.: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
--ANTICIPATED TIMING-- | |
EXPECTED SETTLEMENT: | WEDNESDAY (2/19) |
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.
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