| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-286596-06 | ||
From: Citi Cmbs Syndicate (CITIGROUP GLOBAL MAR) <[REDACTED]>
Sent: Monday, November 9, 2026 12:58 PM
Subject: BMARK 2026-V25 -- New Issue Announcement (Public)
BMARK 2026-V25 -- New Issue Announcement (Public)
Co-Lead Managers & Joint Bookrunners: Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Deutsche Bank Securities Inc., Barclays Capital Inc., BMO Capital Markets Corp.
Co-Managers: Academy Securities, Inc., Drexel Hamilton, LLC
| Class | Expected Ratings (Moody’s/Fitch/KBRA) |
Size ($mm) |
C/E | WAL | Cum LTV |
U/W NOI Debt Yld |
| A-1 | Aaa(sf)/AAAsf/AAA(sf) | 3.100 | 30.000% | 2.28 | 42.5% | 17.6% |
| A-2 | Aaa(sf)/AAAsf/AAA(sf) | 175.000* | 30.000% | 4.81 | 42.5% | 17.6% |
| A-3 | Aaa(sf)/AAAsf/AAA(sf) | 276.316* | 30.000% | 4.90 | 42.5% | 17.6% |
| A-S | NR/AAAsf/AAA(sf) | 60.048 | 20.750% | 4.96 | 48.1% | 15.5% |
| B | NR/AA-sf/AA-(sf) | 33.270 | 15.625% | 4.96 | 51.2% | 14.6% |
| C | NR/A-sf/A-(sf) | 25.155 | 11.750% | 4.96 | 53.6% | 13.9% |
* Class sizes and/or WALs subject to change as detailed in the term sheet. Possible
ranges below:
| Class | Expected
Range of Balance ($mm) |
Expected Range of WAL |
| A-2 | 0 – 175.000 | NAP – 4.81 |
| A-3 | 276.316 – 451.316 | 4.90 – 4.86 |
| Collateral Summary | |
| Initial Pool Balance | $683,333,500 |
| Number of Mortgage Loans | 35 |
| Number of Mortgaged Properties | 75 |
| Average Cut-off Date Balance | $19,523,814 |
| Weighted Average Mortgage Rate | 7.39163% |
| Weighted Average Remaining Term to Maturity/ARD (months) | 59 |
| Weighted Average Remaining Amortization Term to Maturity/ARD (months) | 354 |
| Weighted Average Cut-off Date LTV Ratio | 60.7% |
| Weighted Average Maturity Date/ARD LTV Ratio | 60.4% |
| Weighted Average UW NCF DSCR | 1.52x |
| Weighted Average Debt Yield on Underwritten NOI | 12.3% |
| Top 5 Property Type: | Office (29.8%), Multifamily (28.5%), Retail (14.3%), Industrial (10.8%), Hospitality (7.4%) |
| Top 5 States: | New York (15.9%), Texas (14.1%), Missouri (10.0%), Ohio (8.9%), New Jersey (8.7%) |
| Risk Retention: | Vertical |
| Master Servicer: | Trimont LLC |
| Special Servicer: | Torchlight Loan Services, LLC |
| Operating Advisor: | Park Bridge Lender Services LLC |
| Trustee: | Wilmington Savings Fund Society, FSB |
| Cert. Administrator: | Citibank, N.A. |
| Anticipated Timing | |
| Anticipated Pricing: | Week of 11/9/2026 |
| Anticipated Settlement: | 11/30/2026 |
Term Sheet
<Attached>
Annex A-1 (Red)
<Attached>
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-286596) for the offering to which this communication relates. Before you invest,you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Barclays Capital Inc., BMO Capital Markets Corp., Academy Securities, Inc., Drexel Hamilton, LLC or any other underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.
Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.