FWP 1 n1718_email-x10.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-08
     

 

NEW ISSUE CMBS: WFCM 2019-C52 *PUBLIC PRICE GUIDANCE*

WFCM 2019-C52 - PUBLIC NEW ISSUE GUIDANCE

**PRICE GUIDANCE** $804.589 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS  
& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC
BARCLAYS CAPITAL INC.  
   
CO-MANAGER: ACADEMY SECURITIES, INC.
DREXEL HAMILTON, LLC  

 

OFFERED CERTIFICATES - PUBLIC

CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY GUID
A-1 AAAsf/AAA(sf)/Aaa(sf) 26.626 30.000% 2.67 43.1% 16.4% IS + 44A  
A-2 AAAsf/AAA(sf)/Aaa(sf) 43.907 30.000% 4.85 43.1% 16.4% IS + 60     
A-3 AAAsf/AAA(sf)/Aaa(sf) 28.568 30.000% 6.94 43.1% 16.4% N/A
A-SB AAAsf/AAA(sf)/Aaa(sf) 47.444 30.000% 7.39 43.1% 16.4% IS + 77A  
A-4* AAAsf/AAA(sf)/Aaa(sf) 240.000   30.000% 9.81 43.1% 16.4% A5 - 2bps 
A-5* AAAsf/AAA(sf)/Aaa(sf) 243.623   30.000% 9.92 43.1% 16.4% IS + 87A  
A-S AAAsf/AAA(sf)/Aa3(sf) 93.400 19.625% 9.99 49.5% 14.3% IS + 115A
B AA-sf/AA-(sf)/NR 45.012 14.625% 9.99 52.6% 13.5% IS + 135A
C A-sf/A-(sf)/NR 36.009 10.625% 9.99 55.0% 12.9% IS + 175A

 

*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet.

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $900,240,222
NUMBER OF LOANS: 67
NUMBER OF PROPERTIES: 126
WA CUT-OFF LTV: 61.6%
WA BALLOON LTV: 55.8%
WA U/W NCF DSCR: 2.14x
WA U/W NOI DEBT YIELD: 11.5%
WA MORTGAGE RATE: 4.399%
TOP TEN LOANS %: 39.2%
WA REM TERM TO MATURITY (MOS): 115
WA REM AMORTIZATION TERM (MOS): 357
WA SEASONING (MOS): 1
   
LOAN SELLERS: AREF(21.8%), RMF(17.4%), BARCLAYS(16.6%),
  LCF(15.6%), BSPRT(14.6%), WFB(14.1%)
   
TOP 3 PROPERTY TYPES: OFFICE(35.0%), RETAIL(20.6%),
  INDUSTRIAL(13.9%)
   
TOP 5 STATES: CA(23.8%), TX(8.7%), GA(8.6%),
  FL(7.8%), MI(6.3%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
   
SPECIAL SERVICER: LNR PARTNERS, LLC
   
DIRECTING CERTIFICATEHOLDER: ARGENTIC SECURITIES INCOME USA LLC
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PRELIM PROSPECTUS: TOMORROW
PRESALE REPORTS: TODAY
ANTICIPATED PRICING: WEEK OF JULY 29, 2019
ANTICIPATED SETTLEMENT: AUGUST 20, 2019
   
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.