{"id":3891,"date":"2024-07-29T15:02:41","date_gmt":"2024-07-29T15:02:41","guid":{"rendered":"https:\/\/cred-iq.com\/blog\/?p=3891"},"modified":"2024-12-25T02:05:28","modified_gmt":"2024-12-25T02:05:28","slug":"announcing-bmo-2024-5c5","status":"publish","type":"post","link":"https:\/\/cred-iq.com\/blog\/2024\/07\/29\/announcing-bmo-2024-5c5\/","title":{"rendered":"Announcing BMO 2024-5C5"},"content":{"rendered":"\n

A CRED iQ Preliminary Analysis<\/h2>\n\n\n\n

BMO 2024-5C5 is a significant new issue CMBS deal with an approximate mortgage pool totaling around $1.02 billion. This transaction is managed by BMO Capital Markets, Citigroup, Deutsche Bank, SG Americas, Goldman<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

DATA HEREIN PROVIDED TO CRED IQ IS FROM A PRELIMINARY PROSPECTUS AND MAY BE AMENDED OR SUPPLEMENTED PRIOR TO TIME OF SALE<\/p>\n\n\n\n

\n
Access Loan Details<\/a><\/div>\n<\/div>\n\n\n\n

Deal Overview<\/strong><\/h4>\n\n\n\n

BMO 2024-5C5 is a significant new issue CMBS deal with an approximate mortgage pool totaling around $1.02 billion. This transaction is managed by BMO Capital Markets, Citigroup, Deutsche Bank, SG Americas, Goldman Sachs, and UBS Securities with additional support from co-managers Academy Securities, Bancroft Capital, and Drexel Hamilton. The offering consists of 36 loans secured by 65 properties, presenting a diversified portfolio that spans various property types such as multifamily, office, and hotels. The properties are geographically dispersed, ensuring a robust risk mitigation strategy for investors.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Key Metrics<\/strong> <\/h4>\n\n\n\n

The loan pool is structured to include a mix of amortizing and interest-only loans, with 6.8% of the mortgage pool having scheduled amortization and the remaining 93.1% providing for interest-only payments throughout the loan term. Additionally, the pool features a weighted average debt service coverage ratio (DSCR) of 1.53x and a weighted average net operating income (NOI) debt yield of 11.4%, indicating strong underwriting standards and financial performance.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Geography & Top Assets<\/strong><\/h4>\n\n\n\n

The transaction highlights include properties concentrated in major markets like New York City, Atlanta, and San Francisco. Significant assets include the Arthouse Hotel in the Union square submarket of New York City and The Motif by Morningside multifamily property in the Atlanta market. The deal is set to close on August 15, 2024, with the master servicer being Midland and the special servicer being LNR Partners. This CMBS offering presents a well-structured investment opportunity with diverse property types and geographic distribution, designed to deliver stable returns and mitigate risks effectively.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n
<\/div>\n\n\n\n
\n
Access Loan Details<\/a><\/div>\n<\/div>\n\n\n\n

For subscribers to CRED iQ<\/em> <\/p>\n\n\n\n

About CRED iQ<\/strong><\/h4>\n\n\n\n

CRED iQ<\/a>\u00a0is a market data provider that offers a robust suite of data and software solutions tailored for commercial real estate and finance professionals. With over $2.3 trillion of CRE loans, CRED iQ delivers instant access to a comprehensive range of financial data and analytics for millions of properties in every market. CRED iQ\u2019s data and analytical capabilities are instrumental in helping investors, lenders and brokers make informed and strategic decisions critical to their business.<\/p>\n\n\n\n

If you would like to learn more about CRED iQ\u2019s products and services, please contact team@cred-iq.com<\/a> or (215) 220-6776.<\/p>\n\n\n\n

THE DATA, INFORMATION AND\/OR RELATED MATERAL (\u201cDELIVERABLES\u201d) IS BEING SOLD IN AS-IS\/WHERE-AS CONDITION. CRED-IQ MAKES NO REPRESENTATION OR WARRANTY AS TO QUALITY OR ACCURACY OF SUCH DELIVERABLES BEING PURCHASED, WHETHER EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, STATUTE, OR OTHERWISE, AND CRED-IQ SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED OR STATUTORY WARRANTIES INCLUDING WARRANTIES OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE, TECHNICAL PERFORMANCE, AND NON-INFRINGEMENT. WITHOUT LIMITING THE FOREGOING, YOU AS CUSTOMER ACKNOWLEDGE THAT YOU HAVE NOT AND ARE NOT RELYING UPON ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE, OR UPON ANY REPRESENTATION OR WARRANTY WHATSOEVER AS TO THE DELIVERABLES  IN ANY REGARD WHATSOEVER, AND ACKNOWLEDGE  THAT CRED-IQ MAKES NO, AND HEREBY DISCLAIMS ANY, REPRESENTATION, WARRANTY OR GUARANTEE THAT THE PURCHASE, USE OR COMMERCIALIZATION OF ANY DELIVERABLES WILL BE USEFUL TO YOU OR FREE FROM INTERFERENCE. BY ACCEPTANCE OF THE DELIVERABLES, YOU HEREBY RELEASE CRED-IQ AND ITS AFFILIATES AND AGENTS FROM ALL CLAIMS, DAMAGES AND LIABILITY ARISING HEREUNDER.<\/p>\n","protected":false},"excerpt":{"rendered":"

A CRED iQ Preliminary Analysis BMO 2024-5C5 is a significant new issue CMBS deal with an approximate mortgage pool totaling around $1.02 billion. This transaction is managed by BMO Capital Markets, Citigroup, Deutsche Bank, SG Americas, Goldman DATA HEREIN PROVIDED TO CRED IQ IS FROM A PRELIMINARY PROSPECTUS AND MAY BE AMENDED OR SUPPLEMENTED PRIOR […]<\/p>\n","protected":false},"author":3,"featured_media":3761,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[31,3],"tags":[4,5,8,29],"class_list":{"0":"post-3891","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cmbs-new-issue","8":"category-top-stories","9":"tag-cmbs","10":"tag-commercial-real-estate-data","11":"tag-loan-data","12":"tag-new-issuance"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts\/3891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/comments?post=3891"}],"version-history":[{"count":1,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts\/3891\/revisions"}],"predecessor-version":[{"id":4245,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts\/3891\/revisions\/4245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/media\/3761"}],"wp:attachment":[{"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/media?parent=3891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/categories?post=3891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/tags?post=3891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}