Wells Fargo Commercial Mortgage Securities Inc.
07/08/2024 | Press release | Distributed by Public on 07/08/2024 14:28
Free Writing Prospectus - Form FWP
| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-257991-11 |
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 07/08/24 10:20:43 UTC-4:00
Subject: WFCM 2024-5C1 - PUBLIC NEW ISSUE **ANNOUNCEMENT**
WFCM 2024-5C1 - PUBLIC NEW ISSUE **ANNOUNCEMENT**
$646.786MM FIXED-RATE CMBS OFFERING
| Co-Lead Managers & Bookrunners: | Wells Fargo Securities, Citigroup, Goldman Sachs & Co. LLC, UBS Securities |
| Co-Managers: | Academy Securities, Inc., Drexel Hamilton and Siebert Williams Shank |
Publicly Offered Certificates
| Expected Ratings | Available | WAL | Principal | UW NOI | |||
| Class | (Fitch/KBRA/Moody's) | Size ($MM) | CE% | (YRS) | Window | DY% | LTV% |
| A-1 | AAAsf/AAA(sf)/Aaa(sf) | $9.174 | 30.000% | 2.40 | 1-55 | 17.0% | 41.1% |
| A-2* | AAAsf/AAA(sf)/Aaa(sf) | $[219.937] | 30.000% | [4.87] | [55-59] | 17.0% | 41.1% |
| A-3* | AAAsf/AAA(sf)/Aaa(sf) | $[271.666] | 30.000% | [4.94] | [59-60] | 17.0% | 41.1% |
| A-S | AAAsf/AAA(sf)/Aa2(sf) | $67.068 | 20.625% | 4.97 | 60-60 | 15.0% | 46.6% |
| B | AA-sf/AA(sf)/NR | $36.665 | 15.500% | 4.97 | 60-60 | 14.0% | 49.6% |
| C | A-sf/A(sf)/NR | $27.720 | 11.625% | 4.97 | 60-60 | 13.4% | 51.8% |
*Sizes and WAL's are subject to change as detailed in the attached Term Sheet
| POOL BALANCE: | $731,866,360 |
| NUMBER OF LOANS/PROPERTIES: | 32 / 48 |
| WA MORTGAGE INT. RATE: | 6.9082% |
| WA CUT-OFF LTV: | 58.6% |
| WA UW NCF DSCR: | 1.53x |
| WA UW NOI DEBT YLD: | 11.9% |
| WA ORIG TERM TO MATURITY: | 60 |
| TEN LARGEST LOANS: | 61.8% |
| LOAN SELLERS: | WFB (31.5%), AREF2 (24.9%), CREFI (14.7%), LMF (9.2%), GSMC (8.4%), |
| UBS AG (5.8%), BSPRT (5.5%) | |
| TOP 5 STATES: | TX (19.8%), NY (19.2%), CA (11.4%), NJ (6.8%), MN (6.5%) |
| TOP 5 PROPERTY TYPES: | MF (44.2%), OF (21.0%), MU (15.2%), HT (9.9%), RT (5.0%) |
| RISK RETENTION: | L-shape |
| MASTER SERVICER: | Wells Fargo Bank, National Association |
| SPECIAL SERVICER: | Argentic Services Company LP |
| TRUSTEE: | Computershare Trust Company, National Association |
| CERT ADMIN: | Computershare Trust Company, National Association |
| OPERATING ADVISOR: | Pentalpha Surveillance LLC |
| INITIAL CONTROLLING CLASS REP: | Argentic Securities Holdings 2 Cayman Limited, an affiliate of Argentic Real Estate Finance 2 LLC and Argentic Services Company LP |
| DOCUMENTS & TIMING | |
| TERM SHEET, ANNEX A-1: | ATTACHED |
| PRELIM PROSPECTUS: | TODAY |
| PRESALE REPORTS: | TODAY |
| ANTICIPATED PRICING: | Week of July 8, 2024 |
| ANTICIPATED SETTLEMENT: | July 25, 2024 |
THIRD PARTY PASSWORDS:
Bloomberg:
Dealname: WFCM 2024-5C1
Password: WF20245C1
Trepp:
Dealname: WFCM 2024-5C1
Password: WF20245C1
Intex:
Dealname: WFC245C1
Password: 6l11edejv3q7fv0vz
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. 333-257991) 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 [email protected].
If this communication relates to an offering of US registered securities (i) a registration statement has been filed with the SEC, (ii) before investing you should read the filed documents, and (iii) you may obtain these documents from your sales representative, by calling 1-800-326-5897 or visiting www.sec.gov. If this communication relates to a securities offering exempt from US registration, you should contact your sales representative for the complete disclosure package. For information regarding Wells Fargo, see https://www.wellsfargo.com/com/disclaimer/wfid3. In Japan, see: https://www.wellsfargo.com/com/disclaimer/wfsjb4. This chat will be retained and may be monitored.