MORGAN STANLEY CAPITAL I INC DEPOSITOR FOR SERIES 1999-FNV1
8-K, 1999-04-05
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                                      8-K

                                Current Report


                      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): April 2, 1999



                          MORGAN STANLEY CAPITAL I INC.
            (Exact name of registrant as specified in its charter)




         DELAWARE                   333-62911              13-3291626
- ----------------------------       -----------         ---------------------
(State of Other Jurisdiction       (Commission           (I.R.S. Employer
      Incorporation)               File Number)        Identification Number)


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

                                 1585 Broadway
                                   2nd Floor
                           New York, New York 10036
                         (principal executive offices)
                                (212) 761-4000



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Item 5. OTHER EVENTS

     Description of the Certificates

     Morgan Stanley Capital I Inc. (the "Depositor") will cause to be filed with
the Securities and Exchange Commission (the "Commission") pursuant to the
Commission's Rule 424 a Prospectus Supplement and the Prospectus filed as part
of Registration Statement, File No. 333-62911, in connection with the 
Depositor's issuance of a series of certificates, entitled Commercial Mortgage
Pass-Through Certificates, Series 1999-FNV1 (the "Certificates"), to be issued
pursuant to a pooling and servicing agreement among the Depositor, Amresco
Services, L.P., as master servicer, Banc One Mortgage Capital Markets, LLC as
special servicer, and Norwest Bank Minnesota, National Association, as trustee.

     Computational Materials

     Morgan Stanley & Co. Incorporated as underwriter of certain of the 
Certificates (the "Underwriter") has provided certain prospective purchasers of
the Class A1, Class A2, Class B, Class C and Class D Certificates (collectively,
the "Offered Certificates") with certain yield tables and other computational
materials, collateral terms sheets and structural term sheets (the 
"Computational Materials") in written form, which Computational Materials are
in the nature of data tables and term sheet information relating to the assets
of the trust fund in which the Certificates represent beneficial ownership, the
structure of the Certificates and terms of certain classes of Certificates, and
the hypothetical characteristics and hypothetical performance of certain classes
and Certificates based on collateral information provided by FINOVA Realty
Capital Inc. and/or FINOVA Commercial Mortgage Loan Owner Trust 1998-1 and under
certain assumptions and scenarios.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

          (a)  Not applicable

          (b)  Not applicable

          (c)  Exhibits

EXHIBITS NO. 99 DESCRIPTION

     Computational Materials (as defined in Item 5) that have been provided by
the Underwriter to certain prospective purchasers of the Offered Certificates.



                                       1



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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 thereunto duly authorized.

Dated: April 2, 1999


MORGAN STANLEY CAPITAL I INC.

By:  /s/ Russell Rahbany
    ---------------------------
    Name: Russell Rahbany
    Title: Vice President


                                       2





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<TABLE>
<CAPTION>


                                                                                                                     MORGAN STANLEY
MSC 1999-F1                                                                                                              49 records
California                                                                                                     Balance: 208,320,912
===================================================================================================================================

- -----------------------------------------------------------------------------------------------------------------------------------
California
- -----------------------------------------------------------------------------------------------------------------------------------
                                                                                       Weighted                 
                                                            Percent by    Weighted      Average                Weighted   Weighted
                                  Number of    Aggregate     Aggregate     Average     Remaining   Weighted     Average    Average
                                   Mortgage  Cut-Off Date  Cut-Off Date   Mortgage      Term to     Average  Cut-Off Date  Balloon
                                    Loans       Balance      Balance(%)    Rate(%)   Maturity(mos)  DSCR(x)     LTV(%)      LTV(%)
- -----------------------------------------------------------------------------------------------------------------------------------
<S>                                 <C>      <C>              <C>          <C>           <C>        <C>         <C>         <C> 
Retail                               18       74,604,433       11.80        7.533         122        1.38        72.1        60.0
Office                                8       30,477,504        4.82        7.550         116        1.32        70.4        62.9
Multifamily                           6       29,901,883        4.73        7.239         121        1.25        73.3        63.8
Industrial                            3       20,137,816        3.19        7.714         114        1.33        72.4        58.2
Manufactured Housing Community        5       20,037,046        3.17        7.588         113        1.24        75.1        62.7
Self Storage                          6       13,187,639        2.09        7.326         113        1.57        67.7        57.2
Hospitality                           1       12,140,079        1.92        8.625         117        1.41        72.9        61.9
Mixed Use                             2        7,834,513        1.24        7.535          87        1.32        69.5        64.4
- -----------------------------------------------------------------------------------------------------------------------------------
Total:                               49      208,330,912       32.96        7.567         117        1.35        72.0        61.2
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>



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