FWP 1 n3202_x10-launch.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-258342-02
     

 

 

From: Spg Syndicate Jpm (JP MORGAN SECURITIES) <sjpm2@bloomberg.net>
Sent: Tuesday, August 9, 2022 10:47 AM
Subject: [EXTERNAL]LAUNCH $630.182MM BMARK 2022-B36 PUBLIC CMBS

 

★LAUNCH★ BENCHMARK COMMERCIAL MORTGAGE SECURITIES TRUST 2022-B36 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2022-B36

 

JOINT BOOKRUNNERS &
CO-LEAD MANAGERS :
J.P. MORGAN SECURITIES LLC, DEUTSCHE BANK SECURITIES INC., GOLDMAN SACHS & CO. LLC. AND CITIGROUP GLOBAL MARKETS INC.
CO-MANAGERS : DREXEL HAMILTON, LLC, ACADEMY SECURITIES, INC.
RATING AGENCIES : MOODY’S/FITCH/DBRS
OFFERING TYPE : SEC-REGISTERED

 

***OFFERED CERTIFICATES - PUBLIC***

CLS RATINGS SIZE WAL CERT CERT TGT
  (M/F/D) ($MM) (YR) P.WIN C/E LAUNCH Px($)
A-1 Aaa/AAA/AAA 1.000 3.66 08/24 – 06/27 30.000% P+125 100-00
A-2 Aaa/AAA/AAA 106.901 4.84 06/27 – 07/27 30.000% P+125 103-00
A-4 Aaa/AAA/AAA 170.000 9.78 05/32 - 07/32 30.000% P+155 101-00
A-5 Aaa/AAA/AAA 221.140 9.89 07/32 - 07/32 30.000% P+157 103-00
A-SB Aaa/AAA/AAA 2.240 7.47 07/27 - 05/32 30.000% P+155 103-00
A-S NR/AAA/AAA 64.450 9.96 07/32 - 08/32 21.000% P+205 103-00
B NR/AA-/AA(high) 34.016 9.98 08/32 - 08/32 16.250% P+235 100-00
C NR/A-/A(high) 30.435 9.98 08/32 - 08/32 12.000% P+300 100-00

 

 

COLLATERAL SUMMARY

CUT-OFF DATE BALANCE : $753,806,375
NUMBER OF LOANS : 31
NUMBER OF PROPERTIES : 69
WA CUT-OFF LTV : 51.9%
WA MATURITY LTV : 51.8%
WA U/W NCF DSCR : 2.07x
WA U/W NOI DEBT YIELD : 11.1%
TOP TEN LOANS % : 67.8%
WA TERM TO MATURITY (MOS) : 110
WA REMAINING AMORTIZATION TERM (MOS) : 293
WA SEASONING (MOS) : 1
   
TOP 5 PROPERTY TYPES : OFFICE (32.6%), RETAIL (16.9%), MIXED USE(15.6%), SELF STORAGE(13.6%), INDUSTRIAL (10.3%)
   
TOP 5 STATES : NY (27.6%), VA (14.3%), CA (13.9%), MI (7.5%), FL (6.8%)
   
LOAN SELLERS : JPMORGAN CHASE BANK, N.A. (18.1%), CITI REAL ESTATE FUNDING INC. (37.6%), GERMAN AMERICAN CAPITAL CORPORATION (23.8%) and GOLDMAN SACHS MORTGAGE COMPANY (20.4%)
 
   
U.S. RISK RETENTION : AN ELIGIBLE VERTICAL RESIDUAL INTEREST WILL BE RETAINED BY JPMORGAN CHASE BANK, NATIONAL ASSOCIATION AND DBR INVESTMENTS CO. LIMITED.
   
EU RISK RETENTION : THE TRANSACTION IS NOT STRUCTURED TO SATISFY THE EU RISK RETENTION AND DUE DILIGENCE REQUIREMENTS
   
MASTER SERVICER : MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
SPECIAL SERVICER : MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
OPERATING ADVISOR : PARK BRIDGE LENDER SERVICES LLC.
ASSET REPRESENTATIONS REVIEWER : PARK BRIDGE LENDER SERVICES LLC.
DIRECTING CERTIFICATEHOLDER : KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS II L.P.
   
TIMING  
ANTICIPATED ALLOCATIONS : ~11:15 AM ET, TODAY, AUGUST 9, 2022
ANTICIPATED PRICING : ~11:45 AM ET, TODAY, AUGUST 9, 2022
ANTICIPATED SETTLEMENT : ON OR ABOUT AUGUST 23, 2022

 

JPM SPG SYNDICATE CONTACTS

JENNIFER KORNBLAU 212-834-4154

MORGAN ROACH 212-834-4154

JACQUELINE LARET 212-834-4154

KRISTEN ROSSI 212-834-4154

MICHAEL CASH 212-834-4154

 

JPM CMBS BANKING CONTACTS

KUNAL SINGH 212-834-5467

HARRIS RENDELSTEIN 212-834-6737

 

JPM CMBS TRADING DESK CONTACTS

AVINASH SHARMA 212-834-3111

BRIAN CAREY 212-834-3111

DERRICK FETZER 212-834-3111

 

DEUTSCHE BANK TRADING DESK CONTACT

RYAN HORVATH 212-250-5149

DAN PENN 212-250-5149

 

CITIGROUP SYNDICATE DESK CONTACTS

RAUL OROZCO 212-723-1295

MATT PERRY 212-723-1295

 

GOLDMAN SACHS CMBS BANKING CONTACTS

LEAH NIVISON 212-357-2702

SCOTT EPPERSON 212-934-2882

JUSTIN PETERSON 212-902-4283

 

GOLDMAN SACHS SYNDICATE CONTACTS

SCOTT WALTER 212-357-8910

 

GOLDMAN SACHS CAPITAL MARKETS CONTACTS

MARK ROMANCZUK 212-902-0290

NITIN JAGGA 212-855-9035

 

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