Wells Fargo Commercial Mortgage Trust 2021-C59
Filed: 19 Apr 21, 2:09pm
| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-226486-19 | ||
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 04/19/21 12:21:56
To: [REDACTED]
Subject: NEW ISSUE CMBS: WFCM 2021-C59 *PUBLIC ANNOUNCEMENT*
WFCM 2021-C59 - PUBLIC NEW ISSUE
**ANNOUNCEMENT** $715.568 MM FIXED-RATE CMBS OFFERING
| CO-LEAD MANAGERS & JOINT BOOKRUNNERS: | WELLS FARGO SECURITIES, LLC |
| UBS SECURITIES LLC | |
| BARCLAYS CAPITAL INC. | |
| CO-MANAGER: | ACADEMY SECURITIES, INC. |
| DREXEL HAMILTON, LLC | |
| SIEBERT WILLIAMS SHANK & CO., LLC |
| CLASS | FITCH/KBRA/S&P | SIZE($MM)^ | C/E | WAL | CUM LTV | NOI DY |
| A-1 | AAAsf/AAA(sf)/AAA(sf) | 20.628 | 30.000% | 2.57 | 40.8% | 15.2% |
| A-2 | AAAsf/AAA(sf)/AAA(sf) | 16.497 | 30.000% | 4.78 | 40.8% | 15.2% |
| A-3 | AAAsf/AAA(sf)/AAA(sf) | 23.471 | 30.000% | 6.94 | 40.8% | 15.2% |
| A-SB | AAAsf/AAA(sf)/AAA(sf) | 24.310 | 30.000% | 6.79 | 40.8% | 15.2% |
| A-4* | AAAsf/AAA(sf)/AAA(sf) | 229.920 | 30.000% | 9.53 | 40.8% | 15.2% |
| A-5* | AAAsf/AAA(sf)/AAA(sf) | 239.123 | 30.000% | 9.90 | 40.8% | 15.2% |
| X-A | AAAsf/AAA(sf)/AAA(sf) | 553.951 | N/A | N/A | N/A | N/A |
| X-B | A-sf/AAA(sf)/A-(sf) | 131.563 | N/A | N/A | N/A | N/A |
| A-S | AAAsf/AAA(sf)/AAA(sf) | 54.405 | 23.125% | 9.94 | 44.8% | 13.8% |
| B | AA-sf/AA(sf)/AA(sf) | 39.567 | 18.125% | 9.94 | 47.7% | 13.0% |
| C | A-sf/A(sf)/A-(sf) | 37.590 | 13.375% | 9.94 | 50.5% | 12.3% |
| NON-OFFERED | ||||||
| X-D | BBB-sf/BBB-(sf)/NR | 43.524 | N/A | N/A | N/A | N/A |
| D | BBBsf/BBB+(sf)/NR | 24.729 | 10.250% | 9.94 | 52.3% | 11.8% |
| E | BBB-sf/BBB-(sf)/NR | 18.795 | 7.875% | 9.94 | 53.7% | 11.5% |
^Offered sizes net of RR
*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet.
COLLATERAL SUMMARY
| INITIAL POOL BALANCE: | $826,053,066 |
| NUMBER OF LOANS: | 63 |
| NUMBER OF PROPERTIES: | 99 |
| WA CUT-OFF LTV: | 58.3% |
| WA BALLOON LTV: | 53.9% |
| WA U/W NCF DSCR: | 2.36x |
| WA U/W NOI DEBT YIELD: | 10.6% |
| WA MORTGAGE RATE: | 3.968% |
| TOP TEN LOANS %: | 45.0% |
| WA REM TERM TO MATURITY (MOS): | 115 |
| WA REM AMORTIZATION TERM (MOS): | 355 |
| WA SEASONING (MOS): | 3 |
| LOAN SELLERS: | AREF(26.4%), LMF(18.8%), WFB(17.8%), UBS AG(13.1%), BSPRT(12.4%), BARCLAYS (11.5%) |
| TOP 3 PROPERTY TYPES: | OFFICE(36.2%), RETAIL(16.3%), INDUSTRIAL(15.7%) |
| TOP 5 STATES: | CA(17.1%), PA(10.9%), MI(10.1%), NY(8.3%), WA(5.9%) |
| MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| SPECIAL SERVICER: | ARGENTIC SERVICES COMPANY LP |
| DIRECTING CERTIFICATEHOLDER: | ARGENTIC SECURITIES INCOME USA LLC |
DOCUMENTS & TIMING
| TERM SHEET, ANNEX A-1: | ATTACHED |
| PRELIM PROSPECTUS: | TODAY |
| PRESALE REPORTS: | TODAY/TOMORROW |
| ANTICIPATED PRICING: | WEEK OF APRIL 19, 2021 |
| ANTICIPATED SETTLEMENT: | MAY 5, 2021 |
THIRD PARTY PASSWORDS
BBG and Trepp:
Dealname: WFCM 2021-C59
Password: 2021C59
Intex:
Dealname: WFC21C59
Password: 72resb5jjks5pqvsl1u1z
CONFERENCE CALLS: UPON DEMAND
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. 333-226486) 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.