MIDLAND REALTY ACCEPT CORP COM MORT PASS THR CERT SE 1996-C1
8-K, 1996-10-03
ASSET-BACKED SECURITIES
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                      SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549

                            ----------------------

                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported):  October 3, 1996

TRUST CREATED BY MIDLAND REALTY ACCEPTANCE CORP. (under a Pooling
and Servicing Agreement dated as of September 1, 1996, which Trust is the
Issuer of Commercial Mortgage Pass-Through Certificates, Series
1996-C1)
                       (Exact name of registrant as specified in its charter)


                                       New York
                         (State or other jurisdiction of incorporation)


    333-3885-1                                            36-4106421
  (Commission File Number)                     (IRS Employer Identification No.)

135 South LaSalle Street, Suite 1740, Chicago, IL                   60603
     (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (800) 246-5761


                                         Not applicable
         (Former name or former address, if changed since last report)


ITEM 7.     FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
            INFORMATION AND EXHIBITS

Exhibit 99  Underwriter's Statement Relating to Midland Realty Acceptance
            Corp., Commercial Mortgage Pass-Through Certificates, Series
            1996-C1, together with Additional Collateral Information


<PAGE>



                                  SIGNATURES

      Pursuant to the  requirements  of the Securities  Exchange Act of 1934, as
amended,  the  Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
 

                             MIDLAND LOAN SERVICES, L.P., not in its individual
                             capacity, but solely as duly authorized agent of 
                             the Registrant pursuant to Section 3.20 of the 
                             Pooling and Servicing Agreement, dated as of
                             September 1, 1996

                             By: Midland Data Systems, Inc., its General Partner
                                 By:/s/ Lawrence D. Ashley
                                    Lawrence D. Ashley, Director of MBS Programs

Date: October 3, 1996





<PAGE>



                                 EXHIBIT INDEX

      Exhibit No.                               Description

          99                              Underwriter's Statement Relating to
                                          Midland Realty Acceptance Corp.,
                                          Commercial Mortgage Pass-Through
                                          Certificates, Series 1996-C1,
                                          together with Additional Collateral
                                          Information





Prospectus       Property Name                      Original    First Payment
Number                                              Note Date   Date 

1                Sunrise Village Apartments         25-Jun-96   01-Aug-96
2                1010 Massachusetts Avenue          21-Aug-96   01-Oct-96
3                Harbour Point Estates              15-Jul-96   01-Sep-96
4                Acacia Park Resort Apartments      22-Nov-95   01-Jan-96
5                Plaza Centro II                    06-Dec-95   01-Feb-96
6                Builder's Square                   06-Dec-95   01-Feb-96
7                Hessel on the Park Apartments      19-Oct-95   01-Jan-96
8                Banco Mercantil Building           27-Jun-96   01-Aug-96
9                Tiberon Trails Apartments          28-Jun-96   01-Aug-96
10               Arcadia Shopping Center            12-Dec-95   01-Feb-96
11               Raphael Hotel                      01-Dec-95   01-Jan-96
12               Promenade At Lebanon East          20-Jun-96   01-Aug-96
13               Country Creek Apartments           18-Jun-96   01-Aug-96
14               Rainbow Dunes Neighborhood 
                   Shopping Center                  01-Oct-93   01-Jan-94
15               Raphael Hotel                      30-Jan-96   01-Mar-96
16               "1411 K Street, N.W."              18-Apr-96   01-Jun-96
17               The Gates Apartments               16-Apr-96   01-Jun-96
18               Gottschalks                        29-Sep-95   01-Nov-95
19               The Centre at Dover                11-Jun-96   01-Aug-96
20               32000 Aurora Road                  31-May-96   01-Jul-96
21               Hechinger Backlick Plaza           28-Jun-96   01-Aug-96
22               Mariposa Plaza                     28-Jun-96   01-Sep-96
23               The Boardwalk Apartments           10-Jul-95   01-Sep-95
24               Lime Plaza Retirement Facility     04-Apr-96   01-Jun-96
25               Mountain Shadows Care Center       22-Sep-95   01-Nov-95
26               Hunt Club                          26-Jun-96   01-Aug-96
27               Mill Towne Center                  08-Apr-96   01-Jun-96
28               Central Valley Plaza Office 
                   Building                         04-Mar-96   01-May-96
29               County Square                      20-Jun-96   01-Aug-96
30               Foothills Shadows Apartments       27-Jun-96   01-Aug-96


<PAGE>



31               Wellington House Apartments        20-May-96   01-Jul-96
32               The Shoppes of Hinesville          06-May-96   01-Jul-96
33               Brandywood Apartments              28-Jun-96   01-Aug-96
34               North Country Commons              26-Mar-96   01-May-96
35               Pacific Skies Estates Mobile 
                   Home Park                        26-Jun-96   01-Aug-96
36               Harbor Plaza Shopping Center       30-Jan-96   01-Mar-96
37               Williamsville Place                05-Feb-96   01-Apr-96
38               Pezrow Building                    30-May-96   01-Jul-96
39               Crossroads Retirement Village      21-Mar-96   01-May-96
40               Crestwood Village North Apts       21-Mar-96   01-May-96
41               Classic Heights Apartments         27-Jun-96   01-Aug-96
42               Los Cerros Apartments              14-May-96   01-Jul-96
43               The Mainridge Apartments           27-Jun-96   01-Aug-96
44               Hoodview Apartments                25-Jun-96   01-Aug-96
45               Holland Lake Place Personal 
                   Care Center                      29-Mar-96   01-May-96
46               Britains Lane Commerce Park        21-Jun-96   01-Aug-96
47               "Comfort Inn, East"                04-Jun-96   01-Aug-96
48               Squire's Landing Apartments        19-Jun-96   01-Aug-96
49               TownSquare Retirement Community    08-Mar-96   01-May-96
50               Westridge Garden Apartments        27-Jun-96   01-Aug-96
51               Cardinal Retirement Village        22-Mar-96   01-May-96
52               Terrace Garden Apartments          20-Apr-94   01-Jun-94
53               Ramada Inn Allentown               09-Aug-96   01-Oct-96
54               Hampton House Villas               26-Oct-95   01-Dec-95
55               Kay Bee Toys Store                 22-Mar-96   01-May-96
56               Windjammer Apartments              26-Jun-96   01-Aug-96
57               Pioneer Mobile Home Park           28-Jun-96   01-Aug-96
58               413 West Broadway                  14-Apr-89   01-Jun-89
59               Sun Tree Park Duplexes             20-May-96   01-Jul-96
60               Esplanade Apartments               23-Nov-94   01-Jan-95
61               The Chase Apartments               27-Feb-96   01-Apr-96
62               Tri City Plaza                     29-Apr-96   01-Jun-96
63               Cherry Plaza Shopping Center       03-May-96   01-Jul-96


<PAGE>



64               Heritage Apartments                07-Apr-94   01-Jun-94
65               Quail Creek Apartments             21-Jun-96   01-Aug-96
66               Quail Hollow Apartments            02-Apr-96   01-Jul-96
67               Colonnade Apartments               28-Jun-96   01-Aug-96
68               Brush Meadow Apartments            25-Jun-96   01-Aug-96
69               Pepper Place Apartments            27-Jun-96   01-Aug-96
70               Park Forest Apartments             02-May-96   01-Jul-96
71               Champaign House Apartments         19-Oct-95   01-Jan-96
72               15985 & 15866 Sturgeon Street      10-Sep-96   01-Oct-96
73               Pooler Square Shopping Center      06-May-96   01-Jul-96
74               Academy Place & Times Square       28-Mar-96   01-May-96
75               Gold Street Apartments             14-May-96   01-Jul-96
76               Baileys Crossroads U-Store         07-Dec-95   01-Feb-96
77               Corte Linda Apartments             05-Jul-95   01-Sep-95
78               Century Center V                   07-May-96   01-Jul-96
79               Coronado Square Shopping Center    17-Jul-96   01-Sep-96
80               Clearview Mobile Home Park         16-Apr-96   01-Jun-96
81               Regency / Bel Rose Apartments      05-Dec-94   01-Feb-95
82               565 85th Street                    19-Jun-96   01-Aug-96
83               Phoenix Place Apartments           28-Nov-95   01-Feb-96
84               Claremont Apartments               30-Apr-96   01-Jun-96
85               La Pico Plaza                      27-Jun-96   01-Aug-96
86               College Court Apartments           28-Mar-96   01-May-96
87               Old Mill Business Center           22-Mar-96   01-May-96
88               The Market Place                   25-Mar-96   01-May-96
89               West Court Ranches Apartments      24-May-96   01-Jul-96
90               Prism Plaza Office Building        21-Jun-96   01-Aug-96
91               Peninsula/Bricklyn Apartments      28-Jun-96   01-Aug-96
92               Frank's Nursery & Crafts #628      26-Jan-96   01-Mar-96
93               Frank's Nursery & Crafts #623      26-Jan-96   01-Mar-96
94               Kash N' Karry Store No. 891        28-Mar-96   01-May-96
95               Woodridge Manor Apartments         05-Jul-95   01-Sep-95
96               Diplomat Townhouse Apartments      07-Dec-95   01-Feb-96


<PAGE>



97               Willow Creek Apartments            23-Mar-94   01-May-94
98               Frank's Nursery & Crafts #101      26-Jan-96   01-Mar-96
99               Commons of Orchard Park            30-May-96   01-Jul-96
100              Springfield Duplexes               20-Dec-95   01-Feb-96
101              Kash N' Karry Store No. 702        28-Mar-96   01-May-96
102              Stonebridge Plaza Shopping Center  15-Dec-95   01-Feb-96
103              St. Regis Apartments               20-May-96   01-Jul-96
104              Emerald Point Apartments           12-Feb-96   01-Apr-96
105              Westgate Apartment Complex         03-Apr-96   01-Jun-96
106              Cypress Hills Patio Homes          08-Feb-96   01-Apr-96
107              Four Corners Medical Center        27-Jun-96   01-Aug-96
108              1001 Dove Street                   27-Jun-96   01-Aug-96
109              Atascocita Village Mobile 
                   Home Park                        14-Aug-96   01-Oct-96
110              The Roosevelt Apartments           12-Jul-96   01-Sep-96
111              The Richards Building              07-Jun-96   01-Aug-96
112              Arlington Medical Plaza            22-May-96   01-Jul-96
113              Madison Avenue Building            22-Feb-96   01-Apr-96
114              Harbor Plaza                       26-Jun-96   01-Aug-96
115              Mustang Crossing Apts III          31-Jan-94   01-Mar-94
116              The Cave Creek Plaza               28-Jun-96   01-Aug-96
117              The Concordia Place Apartments     18-Apr-94   01-Jun-94
118              Acme-Kent Plaza                    20-Dec-95   01-Feb-96
119              402-416 East 25th Street           19-Jun-96   01-Aug-96
120              Hawthorne Service Center           23-Feb-96   01-Apr-96
121              Creative Containers Warehouse      28-Jun-96   01-Aug-96
122              University Gardens Apartments      06-Jun-96   01-Aug-96
123              The Broadmoor Apartments           29-Apr-96   01-Jun-96
124              Mount Vernon Apartments            03-Dec-93   01-Feb-94
125              St. Regis Apartments               29-Apr-96   01-Jun-96
126              Frank's Nursery & Crafts #99       26-Jan-96   01-Mar-96
127              Claybourne Apartments              15-Apr-93   15-May-93
128              Frank's Nursery & Crafts #167      26-Jan-96   01-Mar-96
129              South Willow Street Plaza          23-May-96   01-Jul-96


<PAGE>


130              Frank's Nursery & Crafts #106      26-Jan-96   01-Mar-96
131              Frank's Nursery & Crafts #140      26-Jan-96   01-Mar-96
132              Frank's Nursery & Crafts #163      26-Jan-96   01-Mar-96
133              Kash N' Karry Store No. 886        28-Mar-96   01-May-96
134              Frank's Nursery & Crafts #265      26-Jan-96   01-Mar-96
135              Frank's Nursery & Crafts #139      26-Jan-96   01-Mar-96
136              Frank's Nursery & Crafts #135      26-Jan-96   01-Mar-96
137              37950 Commerce Drive               10-Sep-96   01-Nov-96
138              Jackson Manor Apartments           18-Apr-94   01-Jun-94
139              Briarcliff Apartments              04-Apr-94   01-Jun-94
140              Greenwood Apartments               04-Apr-94   01-Jun-94
141              Budget Self Storage                23-May-96   01-Jul-96
142              Greenhill Apartments               01-Sep-94   01-Oct-94
143              Velma Court Apartments             15-Apr-93   15-May-93






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