JULY 2000
CONFIDENTIAL
INVESTOR INFORMATION
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-C1
CREDIT SUISSE FIRST BOSTON
MORGAN STANLEY DEAN WITTER NATIONAL CONSUMER COOPERATIVE BANK
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Under no circumstances shall the information presented hereby constitute an
offer to sell or the solicitation of an offer to buy any security, nor shall
there be any sale of securities in any jurisdiction in wphich such offer,
solicitation or sale would be unlawful prior to registration or qualification
for an exemption from such registration under the securities laws of such
jurisdiction. You have requested that Credit Suisse First Boston Corporation
("CSFB") and Morgan Stanley Dean Witter, Inc. ("MSDW") provide to you
information in connection with your considering the purchase of certain
securities described herein. The attached information is being provided to you
for informative purposes only in response to your specific request. The
information contained herein has been compiled by CSFB and MSDW from sources
that CSFB and MSDW believe to be reasonably reliable. However, CSFB and MSDW
make no representation or warranty as to the accuracy or completeness of such
information and you must make your own determination as to whether the
information is appropriate and responsive to your request. Any investment
decision with respect to the securities described herein should be made solely
on the results of your own due diligence with respect to the securities referred
to herein and only upon your review of the prospectus and prospectus supplement.
This information may not be delivered by you to any other person without CSFB's
and MSDW's prior written consent. CSFB and MSDW may from time to time perform
investment banking services for or solicit investment banking business from any
company named in the information herein. CSFB and MSDW and/or their employees
may from time to time have a long or short position in any security discussed
herein.
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Confidential
CSFB 2000-C1
TABLE OF CONTENTS
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PAGE
1. OVERVIEW
2. COLLATERAL OVERVIEW
3. PROPERTY TYPES
4. NATIONAL CONSUMER COOPERATIVE BANK
5. GEOGRAPHIC DISTRIBUTION
6. UNDERWRITING CHARACTERISTICS
7. CALL PROTECTION PROVISIONS
8. TOP TEN MORTGAGE LOANS
9. MARKET ISSUES - HOTELS
10. MARKET ISSUES - RETAIL
11. MARKET ISSUES - SUBORDINATE FINANCINGS
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Under no circumstances shall the information presented hereby constitute an
offer to sell or the solicitation of an offer to buy any security, nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
for an exemption from such registration under the securities laws of such
jurisdiction. You have requested that Credit Suisse First Boston Corporation
("CSFB") and Morgan Stanley Dean Witter ("MSDW") provide to you information in
connection with your considering the purchase of certain securities described
herein. The attached information is being provided to you for informative
purposes only in response to your specific request. The information contained
herein has been compiled by CSFB and MSDW from sources that CSFB and MSDW
believe to be reasonably reliable. However, CSFB and MSDW make no representation
or warranty as to the accuracy or completeness of such information and you must
make your own determination as to whether the information is appropriate and
responsive to your request. Any investment decision with respect to the
securities described herein should be made solely on the results of your own due
diligence with respect to the securities referred to herein and only upon your
review of the prospectus and prospectus supplement. This information may not be
delivered by you to any other person without CSFB's and MSDW's prior written
consent. CSFB and MSDW may from time to time perform investment banking services
for or solicit investment banking business from any company named in the
information herein. CSFB and MSDW and/or their employees may from time to time
have a long or short position in any security discussed herein.
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CONFIDENTIAL
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CSFB 2000-C1
OVERVIEW [1]
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o CSFB 2000-C1: $1,111,999,815 conduit
o CO-LEAD MANAGERS Credit Suisse First Boston Corporation
AND JOINT BOOKRUNNERS: Morgan Stanley & Co. Incorporated
o MORTGAGE LOAN SELLERS: Credit Suisse First Boston Mortgage Capital
LLC (63.5%) Morgan Stanley Dean Witter
Mortgage Capital, Inc (24.8%) National
Consumer Cooperative Bank (11.7%)
o RATING AGENCIES: Fitch, Inc.
Standard and Poor's
o SPECIAL SERVICER: Lennar Partners, Inc.
National Consumer Cooperative Bank
o MASTER SERVICER: CapMark Services, L.P.
National Consumer Cooperative Bank
o TRUSTEE: Wells Fargo Bank Minnesota, N.A.
o INFORMATION (JULY 17-18): Preliminary Prospectus - "Reds"
Rating Agency Pre-Sale Reports
Collateral & Structural Term Sheet
Third Party Models: Conquest, Trepp, Intex
o PRICING: Week of July 24, 2000
o CLOSING: On or about August 4, 2000
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1 All percentages and dollar amounts referred to herein are approximate.
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Confidential
CSFB 2000-C1
COLLATERAL OVERVIEW
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o INITIAL POOL BALANCE [1]: $1,111,999,815
o NUMBER OF MORTGAGE LOANS: 211 loans
o NUMBER OF MORTGAGED PROPERTIES: 227 properties
o AVERAGE MORTGAGE LOAN BALANCE: $5,270,141
o TOP THREE LOANS (% OF POOL): 14.4%
o TOP TEN LOANS (% OF POOL): 34.6%
o WEIGHTED AVERAGE DSCR: 1.97x overall
1.41x excluding Residential Coop.
1.34x excluding Residential Coop. & 1211
o WEIGHTED AVERAGE LTV: 61% overall
66% excluding Residential Coop.
68% excluding Residential Coop. & 1211
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1 Subject to a permitted variance of plus or minus 5%.
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PROPERTY TYPES
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o Property Type - % by Pool Balance
Less than 2%
Mobile Home Parks 1.6%
Unanchored Retail 1.6%
Assisted Living Facility 1.3%
Extended Stay 1.3%
Limited Service 1.3%
Self Storage 0.5%
Office 27.7%
Mixed Use 9.8%
Lodging 5.9%
Industrial 9.4%
Multifamily 8.1%
Residential Cooperative 12.0%
Anchored Retail 19.5%
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CSFB 2000-C1
NATIONAL CONSUMER COOPERATIVE BANK
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o ORGANIZATION: National Consumer Cooperative Bank (BBB/Baa1/A-)
o PROPERTY TYPE: Cooperative housing
o UNDERWRITING: Multifamily/rental/proxy & reserves
o COLLATERAL PERFORMANCE: Zero loss track record
o CAPITAL MARKETS: $1.4 billion in 16 securitizations
o SERVICING: Master and special
o CSFB 2000-C1: $129.8 million
6.17x weighted average DSCR
27% weighted average LTV
52% Manhattan
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GEOGRAPHIC DISTRIBUTION
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o LOCATION - % BY POOL BALANCE
[OBJECT OMITTED]
State Percentage State Percentage State Percentage
----- ---------- ----- ---------- ----- ----------
WA 8.9% OK 0.2% PA 2.7%
OR 0.2% TX 6.6% NY 24.3%
NV 0.6% IL 0.3% VA 1.9%
CA 12.7% MI 2.9% NC 1.1%
MT 1.1% IN 2.7% SC 0.3%
CO 0.2% KY 1.0% FL 5.0%
NM 0.7% AL 2.4% NH 0.4%
AZ 0.8% GA 3.0% MA 5.5%
MN 0.3% OH 0.9% CT 0.8%
KS 2.3% NJ 2.6%
MD 0.8%
DC 4.6%
HI 2.2%
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UNDERWRITING CHARACTERISTICS
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% OF INITIAL
POOL BALANCE [1]
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Funded Reserves[2]
Taxes 93%
Insurance 92
CapEx/Replacement Reserves 94
TI & LC[3] 84
Cash Management
Hard Lockbox 52%
Springing Lockbox 27
None 21
Borrower
Single Purpose Entity 94%
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1 Excludes Residential Cooperatives
2 Includes loans with funded and/or collected reserves.
3 Includes office, retail, industrial and mixed use properties.
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CALL PROTECTION PROVISIONS
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o CALL PROTECTION BY PREPAYMENT RESTRICTIONS CATEGORIES [1]
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4 May not add to 100% due to rounding
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TOP TEN MORTGAGE LOANS
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<TABLE>
<CAPTION>
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PROPERTY PROPERTY PROPERTY PRINCIPAL % OF UNITS/ LOAN PER
NAME TYPE LOCATION BALANCE POOL BALANCE SF UNIT/SF
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<S> <C> <C> <C> <C> <C> <C>
Selig Loans Office Seattle, WA $62,441,710 5.6 498,875 $125
1211 Ave. of Americas Office New York, NY 50,000,000 4.5 1,839,384 104
IPC Retail Retail Various Cities 48,165,129 4.3 766,467 63
Hastings Village Retail Pasadena, CA 44,000,000 4.0 309,486 142
Crystal Pavilion/Petry Office New York, NY 39,892,258 3.6 876,625 137
L'Enfant Plaza Mixed Use Washington, DC 36,969,932 3.3 889,438 [1] 133
Claypool Embassy Stes Hotel Indianapolis, IN 29,847,318 2.7 360 82,909
BMDC Building Office Huntsville, AL 25,306,142 2.3 389,500 65
Gentry Portfolio Industrial Various Cities, HI 24,972,537 2.2 287,780 87
Amazon.com HQ Office Seattle, WA 22,986,862 2.1 190,808 120
TOTAL/WEIGHTED AVG. $384,581,892 34.6%
TOP TEN MORTGAGE LOANS
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(continued)
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PROPERTY
NAME DSCR LTV
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Selig Loans 1.49x 65%
1211 Ave. of Americas 2.79 28
IPC Retail 1.33 75
Hastings Village 1.21 79
Crystal Pavilion/Petry 1.48 55
L'Enfant Plaza 1.37 65
Claypool Embassy Stes 1.59 56
BMDC Building 1.39 58
Gentry Portfolio 1.22 73
Amazon.com HQ 1.26 67
TOTAL/WEIGHTED AVG. 1.56X 61%
</TABLE>
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1 Reflects office square footage and the allocated loan per square foot for
the office space. The hotel has 370 rooms and an allocated loan per room of
$83,660.
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MARKET ISSUES
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o HOTELS
% of Pool: 8.5%
Average Balance [1]: $6,297,645
Largest Loan (% of pool): 2.7%
Weighted Average DSCR: 1.51x
Weighted Average LTV: 61%
Average Loan per Key: $39,475
Weighted Avg. Remaining Amort. Schedule: 293 months
Full Service or Luxury (% of pool): 5.9%
Limited Service (% of pool): 1.3%
Extended Stay (% of pool): 1.3%
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1 Based on allocated balance by property.
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MARKET ISSUES
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o RETAIL
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# OF % OF SQUARE % OF RETAIL
PROPERTIES POOL FEET SQUARE FEET
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Anchored Retail 27 19.5% 2,742,529 94%
Unanchored Retail 6 1.6 182,863 6
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MARKET ISSUES
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o SUBORDINATE FINANCINGS[1]
% of Pool: 13.3%
Balance of Subordinate Financings[2] $37.2 million
% of Pool with Subordinate
Financing Held by Originator: 4.1%
% of Pool with Subordinate
Financing Held by Third Party: 9.2%
Weighted Average LTV[3]: 63%
Weighted Average Aggregate LTV[4]: 78%
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1 Includes mezzanine debt and preferred equity. Excludes loans secured by
cooperative properties.
2 Includes only the allocated portions of the mezzanine loans and preferred
equity on the Selig, L'Enfant, Crystal Pavilion/Petry and Briarwood Hill
Apts loans.
3 Percentage indicates LTV for the applicable Loans included in the Trust
Fund, excluding the subordinate financings.
4 Percentage indicates LTV for the applicable Loans included in the Trust
Fund, excluding the subordinate financings
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