FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-166711-03 | ||
From: CITI CMBS SYNDICATE (CITIGROUP GLOBAL MAR) [mailto:ccitigroup6@bloomberg.net]
Sent: Wednesday, April 10, 2013 12:27 PM
Subject: CGCMT 2013-GCJ11 -- New Issue Announcement Public
CGCMT 2013-GCJ11 -- New Issue Announcement Public
$1,066.475mm Fixed Rate CMBS Offering
Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets Inc., Goldman, Sachs & Co. and Jefferies LLC
Co-Manager: RBS Securities Inc.
Cl | Moody's/Fitch/KBRA | Size($mm) | WAL(yr) | C/E | Cum LTV | U/W NOI | |
Debt Yld | |||||||
A-1 | Aaa(sf)/AAA(sf)/AAA(sf) | 75.176 | 2.45 | 30.000% | 46.2% | 16.0% | |
A-2 | Aaa(sf)/AAA(sf)/AAA(sf) | 290.426 | 4.85 | 30.000% | 46.2% | 16.0% | |
A-3 | Aaa(sf)/AAA(sf)/AAA(sf) | 150.000 | 9.67 | 30.000% | 46.2% | 16.0% | |
A-4 | Aaa(sf)/AAA(sf)/AAA(sf) | 236.220 | 9.84 | 30.000% | 46.2% | 16.0% | |
A-AB | Aaa(sf)/AAA(sf)/AAA(sf) | 92.911 | 7.31 | 30.000% | 46.2% | 16.0% | |
A-S | Aaa(sf)/AAA(sf)/AAA(sf) | 104.083 | 9.88 | 21.375% | 51.9% | 14.2% | |
B | Aa3(sf)/AA-(sf)/AA-(sf) | 75.423 | 9.94 | 15.125% | 56.0% | 13.2% | |
C | A3(sf)/A-(sf)/ A-(sf) | 42.236 | 9.94 | 11.625% | 58.3% | 12.7% | |
X-A | Aaa(sf)/AAA(sf)/AAA(sf) | 948.816 | N/A | N/A | N/A | N/A |
Collateral Summary | |
Initial Pool Balance: | $1,206.762 mm |
Number of Mortgage Loans: | 72 |
Number of Mortgaged Properties: | 137 |
Average Cut-off Date Mortgage Loan Balance: | $16.761 mm |
Weighted Average Mortgage Interest Rate: | 4.4896% |
Weighted Average Remaining Term to Maturity (months): | 104 |
Weighted Average Remaining Amortization Term (months): | 348 |
Weighted Average Cut-off Date LTV Ratio: | 66.0% |
Weighted Average Maturity Date LTV Ratio: | 54.3% |
Weighted Average Underwritten Debt Service Coverage Ratio: | 1.73x |
Weighted Average Debt Yield on Underwritten NOI: | 11.2% |
% of Mortgage Loans with Additional Debt: | 8.3% |
% of Mortgaged Properties with Single Tenants: | 7.4% |
Property Type: | 23.2% Office (16.0% CBD, 4.2% Medical, 3.0% General Suburban) 21.8% Retail (13.5% Anchored, 5.5% Regional Mall, 2.2% Unanchored, 0.7% Single Tenant) 21.4% Hospitality (9.2% Full Service, 6.9% Limited Service, 5.3% Extended Stay) 13.8% Mixed Use (5.8% Hotel/Retail, 5.4% Retail/Office, 1.6% Office/Retail/Garage, 1.0% Mulifamily/Retail) 5.3% Multifamily (4.9% Garden, 0.2% Student Housing, 0.2% Mid Rise) |
Top 5 States: | 19.6% NY, 12.5% CA, 8.2% TX, 6.4% NV, 5.5% AZ |
Anticipated Timing
Global Investor Call: | Wed, Apr 10th |
Investor Roadshow: | Thu & Fri, Apr 11th & 12th |
Anticipated Pricing: | Week of Apr 15th |
Anticipated Closing: | Tue, Apr 30th |
Investor Call Details
Date: | Wed, Apr 10th |
Time: | 3:00 PM EDT |
US Toll Free: | 719-457-6856 |
Passcode: | 3563508 |
Investor Roadshow Details
Thu, Apr 11th Hartford/ Boston
Fri, Apr 12th Minneapolis/Chicago
Apr 11th Hartford Breakfast: Hartford Mariott Downtown, 200 Columbus Blvd, Capital 1 Room, 8:30AM ET Apr 11th
Boston Lunch: The Langham, 250 Franklin St, Cleveland Room, 12:30PM ET
Apr 12th Minneapolis Breakfast: Grand Hotel, 615 Second Avenue South, Grand Ball Room, 9:30AM CT Apr 12th
Chicago Coffee: Metropolitan Club, 233 S. Wacker Dr, Ontario Room, 3:30PM CT
Termsheet
<ATTACHED>
Annex A
<ATTACHED>
The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-166711) 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 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 website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Goldman, Sachs & Co., Jefferies LLC or any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-858-5407.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made 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.
-------------------------------------------------------------------------------
For information purposes only. This is not a confirmation. Trade details are subject to terms and conditions contained in our official confirmation. We may make markets, buy/sell as principal or have a position in financial products herein. An employee may be a director of, and we may perform or solicit investment banking or other services from any company herein. We do not guarantee that this information is accurate, complete or that any returns indicated will be achieved. Price/availability is subject to change. This is not an offer to sell or a solicitation of any offer to buy any financial product. Changes to assumptions may have material impact on returns. For info, please contact your rep.