FWP 1 n4899_x11-launch.htm FWP

 

    FREE WRITING PROSPECTUS
    FILED  PUR SUANT TO RULE 433
    REGISTRATION FILE NO.: 333-282099-03

 

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 03/31/25 13:47:50 UTC-4:00
Subject: BANK5 2025-5YR14 - PUBLIC NEW ISSUE **LAUNCH**

 

BANK5 2025-5YR14 - PUBLIC NEW ISSUE **LAUNCH**

$784.938MM FIXED-RATE CMBS OFFERING

 

Co-Lead Managers & Bookrunners: Wells Fargo Securities, BofA Securities, J.P. Morgan and Morgan Stanley
Co-Managers: Academy Securities, Inc., Drexel Hamilton, LLC, and Siebert Williams Shank & Co., LLC

 

Publicly Offered Certificates

 

Class Expected Ratings (Fitch/Moody's/KBRA) Available Size ($MM) CE% WAL (YRS) Principal Window UW NOI DY% LTV% LAUNCH
A-1 AAAsf/Aaa(sf)/AAA(sf) $5.730 30.000% 2.43 1–55 16.5% 42.8% PREPLACED
A-2 AAAsf/Aaa(sf)/AAA(sf) $120.500 30.000% 4.70 55-59 16.5% 42.8% J+95
A-3 AAAsf/Aaa(sf)/AAA(sf) $492.876 30.000% 4.92 59-60 16.5% 42.8% J+97
A-S AAAsf/A1(sf)/AAA(sf) $88.444 20.000% 4.98 60-60 14.5% 48.9% J+140
B AA-sf/NR/AA-(sf) $44.222 15.000% 4.98 60–60 13.6% 51.9% J+180
C A-sf/NR/A-(sf) $33.166 11.250% 4.98 60–60 13.0% 54.2% J+250

 

POOL BALANCE: $884,437,753
NUMBER OF LOANS/PROPERTIES: 25 / 72
WA MORTGAGE INT. RATE: 6.5488%
WA CUT-OFF LTV: 61.1%
WA UW NCF DSCR: 1.62x
WA UW NOI DEBT YLD: 11.6%
WA ORIG TERM TO MATURITY: 60
TEN LARGEST LOANS: 66.2%
   
LOAN SELLERS: WFB (48.0%), MSMCH (34.9%), JPMCB (12.3%) AND BANA (4.8%)
TOP 5 STATES: CA (22.6%), NY (14.9%), FL (10.5%), IL (8.6%), DC (7.7%)
TOP 5 PROPERTY TYPES: OF (24.2%), RT (20.4%), MF (17.3%), HT (14.4%), MHC (10.5%)
   
RISK RETENTION: HORIZONTAL
   
MASTER SERVICER: Trimont LLC
SPECIAL SERVICER: Torchlight Loan Services, LLC
TRUSTEE: Computershare Trust Company, N.A.
CERT ADMIN: Computershare Trust Company, N.A.
OPERATING ADVISOR: BellOak, LLC
INITIAL CONTROLLING CLASS REP: Torchlight Investors, LLC
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PRELIM PROSPECTUS: ATTACHED
PRESALE REPORTS: AVAILABLE
ANTICIPATED PRICING: Week of March 31, 2025
ANTICIPATED SETTLEMENT: April 24, 2025
   
THIRD PARTY PASSWORDS:  
Bloomberg:  
Dealname: BANK5 2025-5YR14
Password: WF25Y14
   
Trepp:  
Dealname: BANK5 2025-5YR14
Password: WF25Y14
   
Intex:  
Dealname: BK525514
Password: qmeda4b02fqmltjhz

 

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. 333-282099) 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.

 

 

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.