11/15/2024 | Press release | Distributed by Public on 11/15/2024 15:52
FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-257991-14 | ||
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 11/15/24 13:40:19 UTC-5:00
Subject: WFCM 2024-5C2 - PUBLIC NEW ISSUE **PRICING DETAILS**
WFCM 2024-5C2 - PUBLIC NEW ISSUE **PRICING DETAILS**
$645.304MM FIXED-RATE CMBS OFFERING
Co-Lead Managers & Bookrunners: Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, UBS Securities LLC and Citigroup Global Markets Inc.
Co-Managers: Academy Securities, Inc., Drexel Hamilton, LLC and Siebert Williams Shank & Co., LLC
Publicly Offered Certificates
Expected Ratings | Available | WAL | Principal | UW NOI | |||||||
Class | (Fitch/Moody's/KBRA) | Size ($MM) | CE% | (YRS) | Window | DY% | LTV% | SPD | YLD% | CPN% | $PRICE |
A-1 | AAAsf/Aaa(sf)/AAA(sf) | $3.921 | 30.000% | 2.57 | 1-51 | 18.5% | 39.7% | n/a | n/a | n/a | n/a |
A-2 | AAAsf/Aaa(sf)/AAA(sf) | $130.000 | 30.000% | 4.75 | 51-59 | 18.5% | 39.7% | J+92 | 5.20710 | 5.43900 | 100.99780 |
A-3 | AAAsf/Aaa(sf)/AAA(sf) | $370.082 | 30.000% | 4.91 | 59-60 | 18.5% | 39.7% | J+94 | 5.22940 | 5.92000 | 102.99910 |
A-S | AAAsf/NR/AAA(sf) | $95.401 | 16.750% | 4.97 | 60-60 | 15.5% | 47.3% | J+125 | 5.54030 | 6.14573 | 102.99560 |
B | AAsf/NR/AA-(sf) | $23.400 | 13.500% | 4.97 | 60-60 | 14.9% | 49.1% | J+155 | 5.84030 | 6.33373 | 102.51290 |
C | Asf/NR/A-(sf) | $22.500 | 10.375% | 4.97 | 60-60 | 14.4% | 50.9% | J+200 | 6.29030 | 6.33373 | 100.61240 |
POOL BALANCE: | $720,005,340 |
NUMBER OF LOANS/PROPERTIES: | 27 / 138 |
WA MORTGAGE INT. RATE: | 6.3538% |
WA CUT-OFF LTV: | 56.8% |
WA UW NCF DSCR: | 1.87x |
WA UW NOI DEBT YLD: | 12.9% |
WA ORIG TERM TO MATURITY: | 60 |
TEN LARGEST LOANS: | 67.3% |
LOAN SELLERS: | WFB (37.5%), GSMC (20.6%), JPMCB (18.5%), UBS AG (11.0%), CREFI (7.9%) AND LMF (4.5%) |
TOP 5 STATES: | NY (31.2%), CA (15.7%), OH (7.8%), MI (6.4%), TX (4.7%) |
TOP 5 PROPERTY TYPES: | RT (20.3%), HT (17.2%), MU (16.3%), OF (16.0%), SS (11.6%) |
RISK RETENTION: | HORIZONTAL |
MASTER SERVICER: | Wells Fargo Bank, National Association |
SPECIAL SERVICER: | Rialto Capital Advisors, LLC |
TRUSTEE: | Computershare Trust Company, N.A. |
CERT ADMIN: | Computershare Trust Company, N.A. |
OPERATING ADVISOR: | Pentalpha Surveillance LLC |
INITIAL CONTROLLING CLASS REP: | RREF V - D AIV RR H, LLC |
DOCUMENTS & TIMING | |
TERM SHEET, ANNEX A-1: | ATTACHED |
PRELIM PROSPECTUS: | ATTACHED |
ANTICIPATED SETTLEMENT: | NOVEMBER 27, 2024 |
THIRD PARTY PASSWORDS:
Intex
DN: WFC245C2
PW: edob615q9ebc4rn60hh0z
Trepp & BBG
DN: WFCM 2024-5C2
PW: 20245C2
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.