FWP 1 n1198_x5-email.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-207677-08
     

 

Sent: Thursday, March 08, 2018 1:38 PM

Subject: GSMS 2018-GS9 -- New Issue Announcement (Public)(external)

 

 

GSMS 2018-GS9 -- New Issue Announcement (Public)(external)

$762.464mm Fixed Rate CMBS Offering

 

Lead Manager and Sole Bookrunner: Goldman Sachs & Co. LLC

Co-Managers: Drexel Hamilton and The Williams Capital Group, L.P.

 

          U/W NOI
Class Moody's/Fitch/KBRA Size($mm) WAL(yr) C/E       Cum LTV    Debt Yld
A-1    Aaa(sf)/AAAsf/AAA(sf)   14.060     2.70   30.000%    40.2%     17.4%
A-2    Aaa(sf)/AAAsf/AAA(sf)   24.558     4.53   30.000%    40.2%     17.4%
A-3#   Aaa(sf)/AAAsf/AAA(sf)  120.000     9.50   30.000%    40.2%     17.4%
A-4#   Aaa(sf)/AAAsf/AAA(sf)  411.127     9.79   30.000%    40.2%     17.4%
A-AB   Aaa(sf)/AAAsf/AAA(sf)   29.946     7.01   30.000%    40.2%     17.4%
A-S    Aa2(sf)/AAAsf/AAA(sf)   65.323     9.90   22.375%    44.6%     15.7%
B        NR/AA-sf/AA-(sf)      40.694     9.95   17.625%    47.4%     14.8%
C        NR/A-sf/A-(sf)        56.756     9.95   11.000%    51.2%     13.7%

 

# Final A-3 and A-4 class sizes subject to change.  The A-3 could range from 120mm to 170mm; the A-4 could, in turn, range from 361.127mm to 411.127mm.

 

 

Collateral Summary  
   
Initial Pool Balance:                                $887.131mm
Number of Mortgage Loans:                            37
Number of Mortgaged Properties:                      228
Average Cut-off Date Mortgage Loan Balance:          $23.977mm
Weighted Average Mortgage Interest Rate:             4.387629%
Weighted Average Remaining Term to Maturity (mos):   116
Weighted Average Remaining Amortization Term (mos):  360
Weighted Average Cut-off Date LTV Ratio:             57.5%
Weighted Average Maturity Date LTV Ratio:            53.0%
Weighted Average Underwritten DSCR Ratio:            2.37x
Weighted Average Debt Yield on Underwritten NOI:     12.2%
% of Mortgage Loans with Mezzanine Debt:             11.6%
% of Mortgage Loans with Subordinate Debt:           14.3%
% of Mortgage Loans with Preferred Equity:            0.0%
% of Mortgaged Properties with Single Tenants:       24.6%

 

   
Property Type:  34.0% Office, 26.3% Retail, 15.4% Hospitality, 10.6% Industrial, 5.7% Multifamily – Garden, 5.0% Mixed Use, 3.0% Self Storage
   
Top 5 States:   18.36% TX, 10.90% MI, 10.47% AZ, 9.69% NJ, 8.93% NY

 

   
Anticipated Timing  
   
Global Investor Call:  Friday, March 9th
Anticipated Pricing:   Week of March 12th
Anticipated Closing:   March 29, 2018
   
Global Investor Call Details  
   
Date:                  Friday, March 9th
Time:                  2:00PM ET
US/CAN Toll Free:      866-293-8973
Passcode:              2731075

 

Preliminary Offering Materials

 

Term Sheet

 

Annex A

 

 

 

 

The issuer has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-207677) for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-471-2526.

 

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