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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 and Exchange Act of 1934
Date of Report (Date of earliest event reported): November 21, 1997
FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC.
(Exact name of registrant as specified in its governing instruments)
Delaware 333-7854 56-1643598
(State or other jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Numbers) Identification No.)
One First Union Center
Charlotte, North Carolina 28228-0600
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (704) 374-6828
Exhibit Index appears on page 5
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Item 5. Other Events
On or about November 25, 1997, the Registrant will cause the
issuance and sale of approximately $2,203,502,325 initial principal amount of
Mortgage Pass-Through Certificates, Series 1997-C2, in several classes
(collectively, the "Certificates") pursuant to a Pooling and Servicing Agreement
to be dated as of November 1, 1997, among the Registrant, First Union National
Bank as master servicer, Criimi Mae Services Limited Partnership as special
servicer, LaSalle National Bank as trustee and ABN Amro Bank N.V. as fiscal
agent (the "Pooling and Servicing Agreement").
In connection with the sale of the Series 1997-C2, Class A-1,
Class A-2, Class A-3, Class B, Class C, Class D, Class E and Class IO
Certificates (collectively, the "Underwritten Certificates"), the Registrant has
been advised by Lehman Brothers Inc. and First Union Capital Markets Corp.
(together the "Underwriters") that either one or both of the Underwriters have,
following the effective dates of Registration Statement No. 333-7854, furnished
to one or more prospective investors certain yield tables and other
computational materials (the "Computational Materials") with respect to the
Underwritten Certificates, which computational materials are being filed as an
exhibit to this report.
The Computational Materials have been provided by either one
or both of the Underwriters. The information in the Computational Materials is
preliminary and may be superseded by the Prospectus Supplement relating to the
Underwritten Certificates and by any other information subsequently filed with
the Securities and Exchange Commission.
The Computational Materials were prepared by either one or
both of the Underwriters. The Computational Materials may be based on
assumptions that differ from the assumptions set forth in the Prospectus
Supplement. The Computational Materials may not include, and do not purport to
include, information based on assumptions representing a complete set of
possible scenarios. Accordingly, the Computational Materials may not be relevant
to or appropriate for all investors.
In addition, the actual characteristics and performance of the
mortgage loans underlying the Underwritten Certificates (the "Mortgage Loans")
may differ from the assumptions used in the Computational Materials, which are
hypothetical in nature and which were provided only to give a general sense of
how the yield, average life, duration, expected maturity, interest rate
sensitivity and cash flow characteristics of a particular class of Underwritten
Certificates might vary under varying prepayment and other scenarios. Any
difference between such assumptions and the actual characteristics and
performance of the Mortgage Loans will affect the actual yield, average life,
duration, expected maturity, interest rate sensitivity and cash flow
characteristics of the Underwritten Certificates.
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Item 7. Financial Statements and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
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1 99 Computational Materials
(filed as paper document
under cover of Form SE)
3
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
FIRST UNION COMMERCIAL
MORTGAGE SECURITIES, INC.
By: /s/ Michael H. Greco
Name: Michael H. Greco
Title: Senior Vice President
Dated: November 21, 1997
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EXHIBIT INDEX
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
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1 99 Computational Materials
(filed as paper document
under cover of Form SE)
