{"id":3950,"date":"2024-08-20T15:55:44","date_gmt":"2024-08-20T15:55:44","guid":{"rendered":"https:\/\/cred-iq.com\/blog\/?p=3950"},"modified":"2024-12-25T02:05:28","modified_gmt":"2024-12-25T02:05:28","slug":"announcing-bank5-2024-5yr9","status":"publish","type":"post","link":"https:\/\/cred-iq.com\/blog\/2024\/08\/20\/announcing-bank5-2024-5yr9\/","title":{"rendered":"Announcing BANK5 2024-5YR9"},"content":{"rendered":"\n

A CRED iQ Preliminary Analysis<\/strong><\/p>\n\n\n\n

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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

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

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

The BANK5 2024-5YR9 CMBS deal is a new issuance securitization for the CMBS market, with a total pooled balance of approximately $910.2 million. The deal is jointly managed by prominent financial institutions JP Morgan, Morgan Stanley, and Wells Fargo, and collateralized by 33 loans secured by 44 properties across a variety of sectors, including retail, mixed use, office, and multifamily. The strategic geographic distribution of these properties ensures balanced exposure across major markets, thereby reducing regional risks and enhancing overall portfolio stability. The deal\u2019s conservative underwriting practices are reflected in its weighted average loan-to-value (LTV) ratio of 57.2%, and the weighted average mortgage interest rate is 6.59%, which provides attractive returns for investors.<\/p>\n\n\n\n

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

The loan pool for BANK5 2024-5YR9 is meticulously structured to include a mix of amortizing and interest-only loans, with 16.1% of the mortgage pool having scheduled amortization, ensuring gradual principal repayment and enhanced cash flow stability. The remaining 83.9% of the pool consists of interest-only payments throughout the loan term, offering investors a steady income stream. The pool boasts a weighted average debt service coverage ratio (DSCR) of 1.65x, signifying strong cash flow relative to debt obligations and underscoring the financial robustness of the underlying properties. Moreover, the weighted average net operating income (NOI) debt yield of 11.8% highlights the high earning potential of the assets, further reinforced by rigorous underwriting standards.<\/p>\n\n\n\n

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Geography & Property Types<\/strong><\/p>\n\n\n\n

A key strength of the BANK5 2024-5YR9 CMBS deal is its diverse property type distribution, which enhances portfolio resilience. Retail properties, including anchored, super regional malls, unanchored, and single tenant properties, constitute 35.5% of the total balance, while mixed use properties account for 21.4% of the balance. The geographic distribution of the properties across prime markets, including high-growth areas in New York City, Houston, and Philadelphia further mitigates risk by reducing exposure to regional economic downturns.<\/p>\n\n\n\n

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

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

CRED iQ<\/a> is a market data provider that offers a robust suite of data and software solutions tailored for commercial real estate and finance professionals.<\/p>\n\n\n\n

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

THE DATA, INFORMATION AND\/OR RELATED MATERAL (\u201cDELIVERABLES\u201d) IS BEING OFFERED 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 REGARDS 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 DATA HEREIN PROVIDED TO CRED IQ IS FROM A PRELIMINARY PROSPECTUS AND MAY BE AMENDED OR SUPPLEMENTED PRIOR TO TIME OF SALE Deal Overview The BANK5 2024-5YR9 CMBS deal is a new issuance securitization for the CMBS market, with a total pooled balance of approximately $910.2 million. The deal is […]<\/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-3950","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\/3950","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=3950"}],"version-history":[{"count":1,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts\/3950\/revisions"}],"predecessor-version":[{"id":4239,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/posts\/3950\/revisions\/4239"}],"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=3950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/categories?post=3950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cred-iq.com\/blog\/wp-json\/wp\/v2\/tags?post=3950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}