FWP 1 n4381_x14-pblcnewissue.htm FWP

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-257991-12
     

 

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 08/16/24 11:19:45 UTC-4:00
Subject: CORRECTED WFCM 2024-C63 - PUBLIC NEW ISSUE **LAUNCH**

 

WFCM 2024-C63 - PUBLIC NEW ISSUE **LAUNCH**

$652.381MM FIXED-RATE CMBS OFFERING

 

Co-Lead Managers & Bookrunners: Wells Fargo Securities, Goldman Sachs & Co. LLC, J.P. Morgan and Société Générale
Co-Managers: Academy Securities, Drexel Hamilton and Siebert Williams Shank

 

Publicly Offered Certificates

 

Class Expected Ratings (Fitch/KBRA/Moody's) Available Size ($MM) CE% WAL (YRS) Principal Window UW NOI DY% LTV% LAUNCH(J+)
A-1 AAAsf/AAA(sf)/Aaa(sf) $9.171 30.000% 2.68 1–60 24.9% 32.0% +90
A-3 AAAsf/AAA(sf)/Aaa(sf) $62.627 30.000% 6.88 83-83 24.9% 32.0% +132
A-SB AAAsf/AAA(sf)/Aaa(sf) $15.028 30.000% 7.51 60-118 24.9% 32.0% +109
A-4 AAAsf/AAA(sf)/Aaa(sf) $97.300 30.000% 9.79 118-118 24.9% 32.0% +102
A-5 AAAsf/AAA(sf)/Aaa(sf) $297.405 30.000% 9.87 118-120 24.9% 32.0% +104
A-S AAAsf/AAA(sf)/Aa1(sf) $98.026 15.750% 9.96 120–120 20.7% 38.5% +155
B AA-sf/AA-(sf)/NR $30.955 11.250% 9.96 120–120 19.6% 40.6% +185
C A-sf/A-(sf)/NR $18.058 8.625% 9.96 120–120 19.1% 41.8% +225

 

POOL BALANCE: $713,960,139
NUMBER OF LOANS/PROPERTIES: 30 / 30
WA MORTGAGE INT. RATE: 6.3267%
WA CUT-OFF LTV: 45.7%
WA UW NCF DSCR: 2.52x
WA UW NOI DEBT YLD: 17.4%
WA ORIG TERM TO MATURITY: 117
TEN LARGEST LOANS: 68.8%
LOAN SELLERS: WFB (40.9%), AREF2 (19.3%), JPMCB (17.8%), NCB (11.9%), GSMC (7.0%), SGFC (3.1%)
TOP 5 STATES: NY (29.2%), CA (16.8%), TX (12.4%), AZ (8.8%), SC (8.4%)
TOP 5 PROPERTY TYPES: RT (26.9%), HT (23.2%), MF (16.8%), OF (16.5%), IN (9.1%)
   
RISK RETENTION: L-shape
   
MASTER SERVICERS: Wells Fargo Bank, National Association and National Cooperative Bank, N.A.
SPECIAL SERVICERS: Argentic Services Company LP and National Cooperative Bank, N.A.
TRUSTEE: Computershare Trust Company, National Association
CERT ADMIN: Computershare Trust Company, National Association
OPERATING ADVISOR: Park Bridge Lender Services 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: ATTACHED
PRESALE REPORTS: AVAILABLE
ANTICIPATED PRICING: TODAY @ ~11:45AM ET
ANTICIPATED SETTLEMENT: August 29, 2024
THIRD PARTY PASSWORDS:  
Bloomberg:  
Dealname: WFCM 2024-C63
Password: WFCM24C63
   
Trepp:  
Dealname: WFCM 2024-C63
Password: WFCM24C63
   
Intex:  
Dealname: WFC24C63
Password: aqdih8oq0o29ohckz

 

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 wfs.cmbs@wellsfargo.com.