Monday, July 11, 2011

GSMS 2011-GC4 ($1.476b)

New issue fixed-rate from GS and Citi.

Class MSTR/S&P Size($mm) WAL(yr) CE% Cum LTV Debt Yield (UW NOI)
A1 AAA/AAA(sf) 85.249 2.42 14.5 53.70% 13.80%
A2 AAA/AAA(sf) 332.497 4.85 14.5 53.70% 13.80%
A3 AAA/AAA(sf) 90.651 7.38 14.5 53.70% 13.80%
A4 AAA/AAA(sf) 753.667 9.77 14.5 53.70% 13.80%
B AA+/AA-(sf) 60.889 9.95 10.375 56.30% 13.20%
C A/A-(sf) 62.734 9.95 6.125 59.00% 12.60%
D BBB/BBB(sf) 35.058 9.95 3.75 60.40% 12.30%

71 loans, 131 properties, 5.4639% WAC, 104 WAM, 62.8% wavgLTV, 1.67x wavgDSCR, 12.6% have additional debt.

15.0% TX, 14.5% AZ, 11.8% CA, 9.4% NY, 8.3% VA

50.6% Retail, 16.5% Office, 16.1% Multifamily, 7.2% Hospitality, 3.7% Mixed Use, 1.9% Manufactured Housing, 1.9% Industrial, 1.4% Self Storage, 0.7% Ground Leased Land

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