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Form FWP CD 2017-CD3 Mortgage Filed by: CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC

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January 23, 2017 3:17 PM EST

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-207132-10
     

From: CITI CMBS SYNDICATE (CITIGROUP GLOBAL MAR)
At: 01/23/17 12:30:53

CD 2017-CD3 -- New Issue Announcement (Public)

1,115.061mm Fixed Rate CMBS Offering

Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
Co-Manager: Drexel Hamilton, LLC



            U/W NOI
Class Moody's/Fitch/KBRA Size($mm) WAL(yr) C/E Cum LTV Debt Yld
A-1 Aaa(sf)/AAAsf/AAA(sf) 29.155 2.62 30.000% 40.5% 15.3%
A-2 Aaa(sf)/AAAsf/AAA(sf) 38.347 4.72 30.000% 40.5% 15.3%
A-3 Aaa(sf)/AAAsf/AAA(sf) 200.000 9.35 30.000% 40.5% 15.3%
A-4 Aaa(sf)/AAAsf/AAA(sf) 589.293 9.82 30.000% 40.5% 15.3%
A-AB Aaa(sf)/AAAsf/AAA(sf) 54.788 7.28 30.000% 40.5% 15.3%
A-S Aa2(sf)/AAAsf/AAA(sf) 78.136 9.91 24.000% 44.0% 14.1%
B NR/AA-sf/AAsf) 61.857 9.91 19.250% 46.8% 13.3%
C NR/A-sf/A(sf) 63.485 9.91 14.375% 49.6% 12.5%
             



Collateral Summary  
Initial Pool Balance: $1,327.484mm
Number of Mortgage Loans: 52
Number of Mortgaged Properties: 59
Average Cut-off Date Mortgage Loan Balance: $25.529mm
Weighted Average Mortgage Interest Rate: 4.57758%
Weighted Average Remaining Term to Maturity/ARD (months): 116
Weighted Average Remaining Amortization Term (months): 353
Weighted Average Cut-off Date LTV Ratio: 57.9%
Weighted Average Maturity Date/ARD LTV Ratio: 53.4%
Weighted Average Underwritten Debt Service Coverage Ratio: 1.95x
Weighted Average Debt Yield on Underwritten NOI: 10.7%
% of Mortgaged Properties with Single Tenants: 13.6%
% of Mortgage Loans with Mezzanine or Subordinate Debt: 23.5%
   
   
   
Property Type:

46.4% Office, 20.2% Retail, 15.7% Hospitality, 10.4% Mixed Use,2.9% Industrial, 2.3% Multifamily, 1.7% Self Storage, 0.4% Other

   
Top 5 States: 31.3% NY, 19.6 CA, 5.6% IL, 4.5% HI, 4.1% KS
   
Risk Retention: Combination of Vertical(Citi and DB) and Horizontal(KKR)
   
Master Servicer: Midland Loan Services, a Divsion of PNC Bank, NA
Special Serciver: Midland Loan Services, a Divsion of PNC Bank, NA
Operating Advisor: Park Bridge Lender Services LLC
Controlling Class Rep: KKR Real Estate Credit Opportunity Partners
Trustee: Wells Fargo Bank, NA
Cert. Administrator: Wells Fargo Bank, NA
   
   
   
Anticipated Timing:  
   
Global Investor Call: Monday, January 23, 2017
Anticipated Pricing: Week of January 23, 2017
Anticipated Closing: February 14, 2017
   
   
Global Investor Call Details:  
Date: Monday, January 23, 2017
Time: 2:00PM ET
Participants, Toll-Free: 719-955-1566
Participant Passcode: 4287474
   



Roadshow Schedule:

Tuesday, January 24, 2017

Hartford, CT - Breakfast Meeting
-Max Downtown Restaurant (Blue Room)
-185 Asylum Street, Hartford, CT
-8:30AM ET

Boston, MA – Lunch Meeting
-Boston Harbor Hotel (John Phillips Salon)
-70 Rowes Wharf, Boston, MA
-12:30PM ET


Wednesday, January 25, 2017

Minneapolis, MN - Breakfast Meeting
-The Grand Hotel (Boardroom 3 Mississippi)
-615 Second Avenue South, Minneapolis, MN
-8:00AM CT

<Term Sheet>

<Annex>

IMPORTANT NOTICE REGARDING THIS OFFERING OF ASSET-BACKED SECURITIES
THE SECURITIES OFFERED BY THESE MATERIALS ARE BEING OFFERED WHEN, AS AND IF ISSUED. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THESE SECURITIES DO NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE ORIGINATORS, THE MASTER SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE CONTROLLING CLASS REPRESENTATIVE, THE RISK RETENTION CONSULTATION PARTIES, THE COMPANION LOAN HOLDERS (OR THEIR REPRESENTATIVES), THE UNDERWRITERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THESE SECURITIES NOR THE MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-207132) 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., 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.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
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.


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This communication is issued by a member of the Sales and Trading Department of Citigroup Global Markets Inc. and intended for institutional investors only. For important disclosures and disclaimers please see https://icg.citi.com/icg/data/documents/ST_ExternalDiscl.pdf. This message is for the internal use of the intended recipients and may contain information proprietary to Citi which may not be reproduced, redistributed, or copied in whole or in part without Citi's prior consent.


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