FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-206677-24 | ||
WFCM 2018-C44 - PUBLIC NEW ISSUE
**ANNOUNCEMENT** $654.560 MM FIXED-RATE CMBS OFFERING
CO-LEAD MANAGERS | |
& JOINT BOOKRUNNERS: | WELLS FARGO SECURITIES, LLC |
BARCLAYS CAPITAL INC. | |
CO-MANAGER: | ACADEMY SECURITIES, INC. |
OFFERED CERTIFICATES - PUBLIC | ||||||
CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
A-1 | AAA(sf)/AAAsf/Aaa(sf) | 20.962 | 30.000% | 2.81 | 44.0% | 14.8% |
A-2 | AAA(sf)/AAAsf/Aaa(sf) | 27.202 | 30.000% | 4.93 | 44.0% | 14.8% |
A-3 | AAA(sf)/AAAsf/Aaa(sf) | 6.828 | 30.000% | 7.99 | 44.0% | 14.8% |
A-SB | AAA(sf)/AAAsf/Aaa(sf) | 37.620 | 30.000% | 7.40 | 44.0% | 14.8% |
A-4* | AAA(sf)/AAAsf/Aaa(sf) | 210.000 | 30.000% | 9.83 | 44.0% | 14.8% |
A-5* | AAA(sf)/AAAsf/Aaa(sf) | 234.070 | 30.000% | 9.91 | 44.0% | 14.8% |
X-A | AAA(sf)/AAAsf/Aaa(sf) | 536.682 | N/A | N/A | N/A | N/A |
X-B | A(high)(sf)/A-sf/NR | 117.878 | N/A | N/A | N/A | N/A |
A-S | AAA(sf)/AAAsf/Aa2(sf) | 43.126 | 24.375% | 9.91 | 47.5% | 13.7% |
B | AA(sf)/AA-sf/NR | 36.418 | 19.625% | 9.91 | 50.5% | 12.9% |
C | A(sf)/A-sf/NR | 38.334 | 14.625% | 9.91 | 53.7% | 12.1% |
*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet. | ||||||
NON-OFFERED CERTIFICATES - PRIVATE (144A) | ||||||
CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
X-D | BBB(high)(sf)/BBB-sf/NR | 32.086 | N/A | N/A | N/A | N/A |
D | BBB(sf)/BBB-sf/NR | 32.086 | 10.440% | 9.91 | 56.3% | 11.6% |
COLLATERAL SUMMARY
INITIAL POOL BALANCE: | $766,689,123 |
NUMBER OF LOANS: | 44 |
NUMBER OF PROPERTIES: | 55 |
WA CUT-OFF LTV: | 62.9% |
WA BALLOON LTV: | 57.5% |
WA U/W NCF DSCR: | 1.71x |
WA U/W NOI DEBT YIELD: | 10.4% |
WA MORTGAGE RATE: | 4.858% |
TOP TEN LOANS %: | 52.2% |
WA REM TERM TO MATURITY (MOS): | 117 |
WA REM AMORTIZATION TERM (MOS): | 349 |
WA SEASONING (MOS): | 1 |
LOAN SELLERS: | WFB(40.5%), BARCLAYS(25.7%), LCF(25.3%), |
AREF(8.6%) | |
TOP 3 PROPERTY TYPES: | OFFICE(34.5%), RETAIL(24.2%), |
HOSPITALITY(12.8%) | |
TOP 5 STATES: | CA(21.6%), VA(9.8%), MD(9.0%), |
NY(8.1%), NJ(7.5%) | |
MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
SPECIAL SERVICER: | RIALTO CAPITAL ADVISORS, LLC |
DIRECTING CERTIFICATEHOLDER: | RIALTO CAPITAL ADVISORS OF NEW YORK, LLC |
DOCUMENTS & TIMING | |
TERM SHEET, ANNEX A-1: | ATTACHED |
PRESALE REPORTS: | TOMORROW |
ANTICIPATED PRICING: | END OF WEEK OF APRIL 23, 2018 |
ANTICIPATED SETTLEMENT: | MAY 17, 2018 |
CONFERENCE CALLS: | UPON DEMAND |
PRE-RECORDED GLOBAL INVESTOR CALL: | WWW.NETROADSHOW.COM |
REVIEW CODE: | WFCM2018C44 |
FINAL LINK: | http://www.netroadshow.com/nrs/wp/default.html?show=4c99ae8f |
Wells Fargo Commercial Mortgage Securities, Inc., as depositor, has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-206677) 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 Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. - 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.
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