| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-280318-05 | ||
From: Spg Syndicate Jpm (JP MORGAN SECURITIES) <sjpm2@bloomberg.net>
Sent: Tuesday, May 26, 2026 2:30 PM
Subject: ★XA LAUNCH★ $513.95MM JPMF1 2026-FX1 ***PUBLIC CMBS***
JPMF1 MULTIFAMILY MORTGAGE TRUST 2026-FX1 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2026-FX1
LEAD MANAGER AND SOLE BOOKRUNNER : J.P. MORGAN SECURITIES LLC
CO-MANAGERS : ATLAS SP SECURITIES, A DIVISION OF APOLLO GLOBAL SECURITIES, LLC, GOLDMAN SACHS & CO. LLC and SANTANDER US CAPITAL MARKETS LLC
LOAN SELLER : MF1 REIT III FR TRS LLC
RATING AGENCIES : FITCH/MDBRS
OFFERING TYPE : SEC-REGISTERED
*** OFFERED CERTIFICATES - PUBLIC ***
| CLS | RATINGS (F/MDBRS) |
SIZE ($MM) |
APPROX PROCEEDS |
LAUNCH |
| XA | AAA/AAA | $513.950 | ~$8.4 | J-65 |
* PX Speed: 100% CPY
| PROPERTY TYPE : | MULTIFAMILY (100%) |
| TOP 5 STATES : | NJ (20.9%), NY (14.6%), NC (9.1%), LA (9.1%), IL (8.2%) |
| COLLATERAL SUMMARY | |
| CUT-OFF DATE BALANCE : | $734,215,000 |
| NUMBER OF LOANS : | 17 |
| NUMBER OF PROPERTIES : | 24 |
| WA CUT-OFF LTV : | 67.7% |
| WA MATURITY LTV : | 67.7% |
| WA U/W NCF DSCR : | 1.37x |
| WA U/W NOI DEBT YIELD : | 8.2% |
| TOP TEN LOANS % : 71.0 % | |
| WA REMAINING TERM TO MATURITY (MOS) : | 55 |
| WA REMAINING AMORTIZATION TERM (MOS) : | NAP |
| WA SEASONING (MOS) : | 5 |
| US RISK RETENTION : | MF1 REIT III FR TRS LLC WILL ACT AS THE “RETAINING SPONSOR”, AND IS EXPECTED TO SATISFY ITS RISK RETENTION REQUIREMENT INITIALLY THROUGH THE PURCHASE BY ITS “MAJORITY-OWNED AFFILIATE”, WHICH IS EXPECTED TO BE MF1 REIT III FR RETENTION HOLDER LLC, A DELAWARE LIMITED LIABILITY COMPANY, OF THE CLASS G-RR, CLASS H-RR AND CLASS J-RR CERTIFICATES |
| . | |
| THE HORIZONTAL RISK RETENTION CERTIFICATES WILL CONSTITUTE AN “ELIGIBLE HORIZONTAL RESIDUAL INTEREST” (AS SUCH TERM IS DEFINED IN THE CREDIT RISK RETENTION RULES). | |
| EU RISK RETENTION : | THE TRANSACTION IS NOT STRUCTURED TO SATISFY THE EU RISK RETENTION AND DUE DILIGENCE REQUIREMENTS |
| MASTER SERVICER : | MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION |
| SPECIAL SERVICER : | MF1 LOAN SERVICES LLC |
| OPERATING ADVISOR : | PENTALPHA SURVEILLANCE LLC |
| ASSET REPRESENTATIONS REVIEWER : | PENTALPHA SURVEILLANCE LLC |
| DIRECTING CERTIFICATEHOLDER : | MF1 REIT III FR RETENTION HOLDER LLC (OR AN AFFILIATE) |
| DOCUMENTS & TIMING | |
| ANTICIPATED PRICING : | ON OR ABOUT ~02:45 AM ET ON May 26, 2026 |
| ANTICIPATED SETTLEMENT : | ON OR ABOUT JUNE 10, 2026 |
JPM CMBS BANKING CONTACTS
KUNAL SINGH 212-834-5467
JOHN MILLER 212-272-8363
HARRIS RENDELSTEIN 212-834-673
RANDY GOLDSTEIN 212-270-2188
JPM CMBS TRADING DESK CONTACTS
AVINASH SHARMA 212-834-3111
BRIAN CAREY 212-834-3111
DERRICK FETZER 212-834-3111
JPM SPG SYNDICATE CONTACTS
JENNIFER KORNBLAU 212-834-4154
MORGAN ROACH 212-834-4154
JACQUELINE LARET 212-834-4154
MICHAEL CASH 212-834-4154
MARIE SARAFIAN 212-834-4154
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