| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-286173-01 | ||
Sent: Friday, August 15, 2025 12:58 PM
Subject: BMARK 2025-B41 -- XA/XB New Issue Announcement (Public)(external)
Importance: High
BMARK 2025-B41 -- XA/XB New Issue Announcement (Public)(external)
| Co-Lead Managers & Joint Bookrunners: | Goldman Sachs & Co. LLC, UBS Securities LLC, Citigroup, Deutsche Bank Securities |
| Co-Managers: | Academy Securities & Drexel Hamilton, LLC |
Capital Structure
| Expected Ratings | Notional | Proceeds | |||
| Class | Moody’s/Fitch/MDBRS | Size($mm) | Size($mm) | IPTs | Process |
| X-A | Aaa(sf)/AAAsf/AAA(sf) | 424.750 | ~32.4 | J+150a | |
| X-B | NR/A-sf/A(high)(sf) | 122.115 | ~5.0 | J+150a | Auction* |
*Auction will take place at 2PM ET. Please reflect whole tranche bids as a spread to the J-Curve
Pricing Assumption: 100CPY to Call
Collateral Summary
| Initial Pool Balance: | $631,082,802 |
| Number of Mortgage Loans: | 43 |
| Number of Mortgaged Properties: | 55 |
| Average Cut-off Date Balance: | $14,676,344 |
| WA Mortgage Rate: | 6.37739% |
| WA Rem. Term to Maturity/ARD (mos): | 119 |
| WA Rem. Amortization Term (mos): | 349 |
| WA Cut-off Date LTV Ratio: | 47.1% |
| WA Maturity Date/ARD LTV Ratio: | 46.1% |
| WA UW NCF DSCR: | 2.68x |
| WA Debt Yield on Underwritten NOI: | 18.8% |
| Property Types: | 25.1% Multifamily, 21.9% Mixed Use, 20.4% Retail, 16.0% Office, 10.5% Other, 3.2% Self Storage, 2.1% Industrial, 1.0% Hospitality |
| Top 5 States: | 29.8% New York, 10.1% Ohio, 9.98% Massachusetts, 9.7% Pennsylvania, 8.7% Oregon |
| Risk Retention: | L-shaped |
| Master Servicer: | Midland Loan Services |
| Special Servicer: | CWCapital Asset Management LLC |
| Operating Advisor: | Park Bridge Lender Services LLC |
| Trustee: | Computershare Trust Company, National Association |
| Cert. Administrator: | Computershare Trust Company, National Association |
Anticipated Timing
Anticipated Launch/Price: August 15, 2025
Anticipated Settlement: September 4, 2025
Term Sheet
Attached
Annex A-1
Attached
Preliminary Prospectus
Attached
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