FWP 1 n4385_x7-newissue.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-276033-03

  

**PUBLIC ANNOUNCEMENT** NEW ISSUE CMBS: BBCMS 2024-C28

NEW ISSUE CMBS: BBCMS 2024-C28

$717.385MM NEW ISSUE CMBS ***PUBLIC OFFERING***

JOINT LEADS: BARCLAYS; DEUTSCHE BANK; GOLDMAN SACHS; SOCIÉTÉ GÉNÉRALE; UBS; WELLS FARGO
   
CO-MANAGERS: DREXEL HAMILTON; BANCROFT CAPITAL
   
RATING AGENCIES: S&P; FITCH; KBRA

  

PUBLIC OFFERED CERTIFICATES

CLASS RATINGS (S/F/K) AVAILABLE SIZE ($MM) C/E WAL LTV DY
A-1 AAA/AAA/AAA 8.444 30.000% 2.62 36.3% 20.7%
A-3 AAA/AAA/AAA 52.500 30.000% 6.88 36.3% 20.7%
A-3-BP AAA/AAA/AAA 80.000 30.000% 6.88 36.3% 20.7%
A-4* AAA/AAA/AAA 180.000 30.000% 9.75 36.3% 20.7%
A-5* AAA/AAA/AAA 231.500 30.000% 9.92 36.3% 20.7%
A-SB AAA/AAA/AAA 11.000 30.000% 7.37 36.3% 20.7%
A-S AA-/AAA/AAA 96.590 18.000% 9.96 42.5% 17.7%
B NR/AA-/AA 36.222 13.500% 9.96 44.8% 16.8%
C NR/A-/A+ 21.129 10.875% 9.96 46.2% 16.3%

* CLASS EXPECTED RANGE OF BALANCE(MM)/ EXPECTED RANGE OF WAL(YRS)

- A-4: $0.000 - $180.000 / N/A – 9.75
- A-5: $231.500 - $411.500 / 9.92 – 9.84

  

*TRANSACTION SUMMARY*
- POOL BALANCE: $804,920,408
- NUMBER OF LOANS: 37
- NUMBER OF PROPS: 41
- WA CUT-OFF LTV: 51.8%
- WA MATURITY LTV: 50.4%
- WA U/W NCF DSCR: 2.07x
- WA U/W NOI DY: 14.5%
- WA MORTGAGE RATE: 6.54329%
- TOP 10 LOANS %: 68.5%
- WA REM TERM: 113 MONTHS
- TOP 5 PROP TYPES: RETAIL (23.5%); HOSPITALITY (22.1%); MIXED USE (16.9%); INDUSTRIAL (15.0%); MULTIFAMILY (11.4%)
- TOP 5 STATES: CA (19.2%); FL (11.4%); IL (9.9%); AZ (8.7%); TX (7.0%)
   
*DEAL PARTIES*
- MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
- SPECIAL SERVICER: LNR PARTNERS, LLC
- OPERATING ADVISOR: PENTALPHA SURVEILLANCE LLC
- DIRECTING HOLDER: AFFILIATE OF PRIME FINANCE
- TRUSTEE: COMPUTERSHARE TRUST COMPANY, N.A.
- CERT. ADMIN.: COMPUTERSHARE TRUST COMPANY, N.A.
   
*MATERIALS & ANTICIPATED TIMING*
- TERM SHEET/ANNEX: ATTACHED
- RED PROSPECTUS: ATTACHED
- 3RD PARTY SYSTEMS: TODAY
- PRE-SALE REPORTS: TOMORROW
- COLLATERAL CALLS: UPON DEMAND **CONTACT SALES COVERAGE**
- PRICING: WEEK OF August 5, 2024
- SETTLEMENT: ON OR ABOUT THURSDAY, AUGUST 29, 2024

 

-------------------------------------------------------------------------------

THE SECURITIES OFFERED BY THESE MATERIALS ARE BEING OFFERED WHEN, AS AND IF ISSUED. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THESE SECURITIES DO NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE ORIGINATORS, THE MASTER SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE CONTROLLING CLASS REPRESENTATIVE, THE COMPANION LOAN HOLDERS (OR THEIR REPRESENTATIVES), THE UNDERWRITERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THESE SECURITIES NOR THE MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER. 

THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) FOR THIS OFFERING. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS FOR THIS OFFERING IN THAT REGISTRATION STATEMENT, AND OTHER DOCUMENTS THAT 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 SEARCHING THE SEC ONLINE DATABASE (EDGAR) AT WWW.SEC.GOV. ALTERNATIVELY, YOU MAY OBTAIN A COPY OF THE PROSPECTUS FROM BARCLAYS CAPITAL INC. BY CALLING 1-888-603-5847. 

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF ANY EMAIL COMMUNICATION TO WHICH THIS DOCUMENT IS ATTACHED RELATING TO (1) THESE MATERIALS NOT CONSTITUTING AN OFFER (OR A SOLICITATION OF AN OFFER), (2) NO REPRESENTATION THAT THESE MATERIALS ARE ACCURATE OR COMPLETE AND MAY NOT BE UPDATED OR (3) THESE MATERIALS POSSIBLY BEING CONFIDENTIAL, ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER SYSTEM.