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Friday, 22 March 2019


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Class Amt
Life (yrs)
Yield% Final
Pricing (bp)
A-1 16.00 30.00 2.96 AAA AAA AAA 99.999 2.776 +35 swaps
A-2 6.50 30.00 4.95 AAA AAA AAA 99.997 3.022 +63 swaps
A-SB 28.60 30.00 7.49 AAA AAA AAA 102.999 3.171 +72 swaps
A-3 250.00 30.00 9.85 AAA AAA AAA 101.000 3.344 +82 swaps
A-4 252.86 30.00 9.95 AAA AAA AAA 102.992 3.366 +84 swaps
A-S 81.12 19.75 9.95 AAA AA+ AAA 102.992 3.626 +110 swaps
B 42.54 14.375 9.95 AA- AA- AA- 103.000 3.776 +125 swaps
C 30.67 10.50 10.01 A- A- A- 102.993 4.228 +170 swaps
D 20.77 7.875 10.03 BBB NR BBB+ 84.299 5.029 +250 swaps
E 13.85 6.125 10.03 BBB- NR BBB-   5.929 +340 swaps
F 16.82 4.00 10.03 BB- NR BB-       Treas
G 7.91 3.00 10.03 B- NR B-       Treas
H 23.74 0.00 10.03 NR NR NR       Treas
X-A 553.96* NA NA AAA AAA AAA       Treas
X-B 123.65* NA NA AA- AA- AAA       Treas
X-D 34.63* NA NA BBB- NR BBB-       Treas
X-F 16.82* NA NA BB- NR BB-       Treas
X-G 7.91* NA NA B- NR B-       Treas
X-H 23.74* NA NA NR NR NR       Treas

*Notional amount, interest only

Pricing Date: 21 March, 2019

Collateral balance: $833.03 million

Trepp/BBG Ticker: BANK 2019-BNK17

Bookrunner(s): Morgan Stanley (41.6 percent of deal balance), BofA Merrill Lynch (31.4 percent), Wells Fargo Securities (27 percent)

Lead Managers: Wells Fargo Securities, BoA Merrill Lynch, Morgan Stanley

Co-managers: Academy Securities, Drexel Hamilton Inc.

B-Piece Buyer: Ellington Management Group (75 percent of classes F, G, H, X-F, X-G, X-H), Prime Finance Advisor (25 percent)

Risk Retention Type: Vertical

Vertical Size, Holder: 5 percent of par value, BofA Merrill Lynch, Morgan Stanley, Wells Fargo Bank

Horizontal Size, Holder: NA

Risk Retention Consultation Party: Morgan Stanley

Master Servicer: Wells Fargo Bank

Special Servicer: Midland Loan Services

Certificate Administrator: Wells Fargo Bank

Trustee: Wilmington Trust

Operating Adviser: Pentalpha Surveillance

Asset Representations Reviewer: Pentalpha Surveillance

Originators: Morgan Stanley (41.6 percent of pool balance), Bank of America (31.4 percent), Wells Fargo Bank (27 percent)

Number of Loans/Properties: 49/239

Top-10 Concentration: 57.2 percent

Property Types: Office (30.4 percent of pool balance), retail (25.7 percent), multifamily (23.4 percent), industrial (5.8 percent), leased fee (5.7 percent), hotels (4.2 percent), mixed use (2.5 percent), self storage (2.3 percent)

Underwritten DSCR: 2.41x

Underwritten LTV: 55.2 percent

Underwritten Debt Yield: 12.5 percent

Weighted Average Mortgage Rate: 4.6181...


“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: CMBS Pricing (PRICE)
  • Deal Name: BANK 2019-BNK17
  • Private: Yes
  • bloombergDealName: BANK 2019-BNK17
Read 227 times Last modified on Friday, 22 March 2019

Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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