[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
NEW ISSUE
PRELIMINARY TERM SHEET
ANY INVESTMENT DECISION WTH RESPECT TO THE SECURITIES SHOULD BE MADE BY YOU
BASED UPON THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND
PROSPECTUS RELATNG TO THE SECURITIES. THE INFORMATION HEREIN WILL BE SUPERSEDED
IN ITS ENTIRETY BY THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT
AND PROSPECTUS.
THE INFORMATION CONTAINED HEREIN SUPERSEDES THE INFORMATION IN
ALL PRIOR TERM SHEETS, IF ANY.
-------------------
$641,880,960 (APPROXIMATE)
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2000-1
-------------------
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION--DEPOSITOR
GE CAPITAL LOAN SERVICES, INC.--MASTER SERVICER
LEND LEASE ASSET MANAGEMENT, L.P.--SPECIAL SERVICER
GENERAL ELECTRIC CAPITAL CORPORATION--MORTGAGE LOAN SELLER
THE CHASE MANHATTAN BANK--MORTGAGE LOAN SELLER
BEAR, STEARNS FUNDING, INC.--MORTGAGE LOAN SELLER
-------------------
FOR FURTHER INFORMATION CONTACT:
Scott Davidson
Managing Director
Chase Securities Inc.
212-834-3813
CHASE SECURITIES INC. BEAR, STEARNS & CO. INC.
Book Running Manager
DEUTSCHE BANC ALEX. BROWN J.P. MORGAN & CO. SALOMON SMITH BARNEY INC.
The analyses in this report are based upon information provided by General
Electric Capital Corporation, The Chase Manhattan Bank and Bear, Stearns
Funding, Inc. (the "Sellers"). Chase Securities Inc., Bear, Stearns & Co. Inc.,
Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., and Salomon Smith
Barney Inc. (the "Underwriters") make no representations as to the accuracy or
completeness of the information contained herein. The information contained
herein is qualified in its entirety by the information in the Prospectus and
Prospectus Supplement for the securities referred to herein (the "Securities").
The information contained herein is preliminary as of the date hereof,
supersedes any previous information delivered to you by the Underwriters and
will be superseded by the applicable final Prospectus and Prospectus Supplement
and any other information subsequently filed with the Securities and Exchange
Commission. These materials are subject to change, completion, or amendment from
time to time without notice, and the Underwriters are under no obligation to
keep you advised of such changes. These materials are not intended as an offer
or solicitation with respect to the purchase or sale of any Security. Any
investment decision with respect to the Securities should be made by you based
upon the information contained in the final Prospectus Supplement and Prospectus
relating to the Securities. You should consult your own counsel, accountant, and
other advisors as to the legal, tax, business, financial and related aspects of
a purchase of the Securities.
The attached information contains certain tables and other statistical analyses
(the "Computational Materials") which have been prepared in reliance upon
information furnished by the Sellers. They may not be provided to any third
party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material. Numerous assumptions were
used in preparing the Computational Materials which may or may not be reflected
therein. As such, no assurance can be given as to the Computational Materials'
accuracy, appropriateness or completeness in any particular context; nor as to
whether the Computational Materials and/or the assumptions upon which they are
based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or
predictions or as legal, tax, financial or accounting advice. Any weighted
average lives, yields and principal payment periods shown in the Computational
Materials are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the
underlying assets will occur at rates slower or faster than the rates shown in
the attached Computational Materials. Furthermore, unless otherwise provided,
the Computational Materials assume no losses on the underlying assets and no
interest shortfalls. The specific characteristics of the Securities may differ
from those shown in the Computational Materials due to differences between the
actual underlying assets and the hypothetical underlying assets used in
preparing the Computational Materials. The principal amount and designation of
any Security described in the Computational Materials are subject to change
prior to issuance. Neither the Underwriters nor any of their affiliates make any
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. THIS
INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS AND NOT BY THE ISSUER
OF THE SECURITIES OR ANY OF ITS AFFILIATES. THE UNDERWRITERS ARE NOT ACTING AS
AGENT FOR THE ISSUER OR ITS AFFILIATES IN CONNECTION WITH THE PROPOSED
TRANSACTION.
DECEMBER 2000
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
SUMMARY OF CERTIFICATES
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------
INITIAL CLASS PRINCIPAL
CERTIFICATE PASS- ASSUMED WEIGHTED EXPECTED OR
BALANCE OR APPROXIMATE THROUGH FINAL AVERAGE RATINGS NOTIONAL
NOTIONAL CREDIT RATE DISTRIBUTION LIFE (MOODY'S PRINCIPAL
CLASS AMOUNT (1) SUPPORT DESCRIPTION DATE (5) (YEARS) (6) /FITCH) WINDOW (6)
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 TBD TBD Fixed TBD TBD Aaa/AAA TBD
A-2 TBD TBD Fixed TBD TBD Aaa/AAA TBD
X TBD N/A WAC (I/O) (2) TBD TBD Aaa/AAA TBD
B TBD TBD Fixed (3) TBD TBD Aa2/AA TBD
C TBD TBD Fixed (3) TBD TBD A2/A TBD
D TBD TBD Fixed (3) TBD TBD A3/A- TBD
E TBD TBD Variable (4) TBD TBD Baa2/BBB TBD
F Not Offered N/A Variable (4) N/A N/A N/A N/A
G Not Offered N/A Fixed (3) N/A N/A N/A N/A
H Not Offered N/A Fixed (3) N/A N/A N/A N/A
I Not Offered N/A Fixed (3) N/A N/A N/A N/A
J Not Offered N/A Fixed (3) N/A N/A N/A N/A
K Not Offered N/A Fixed (3) N/A N/A N/A N/A
L Not Offered N/A Fixed (3) N/A N/A N/A N/A
M Not Offered N/A Fixed (3) N/A N/A N/A N/A
-----------------------------------------------------------------------------------------------------------
</TABLE>
(1) Approximate, subject to a permitted variance of plus or minus 10%.
(2) The pass-through rate on the Class X certificates will be equal to the
excess, if any, of (1) the weighted average of the net interest rates on
the mortgage loans determined without regard to any reductions in the
interest rate resulting from modification of the mortgage loans (in each
case converted to a rate expressed on the basis of a 360-day year
consisting of twelve 30-day months), over (2) the weighted average of the
pass-through rates of the other certificates (other than the residual
certificates and the Class S certificates).
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans determined without regard to any reductions in
the interest rate resulting from modification of the mortgage loans (in
each case converted to a rate expressed on the basis of a 360-day year
consisting of twelve 30-day months) as of the first day of the related due
period is less than the rate specified for the Class B, Class C, Class D,
Class G, Class H, Class I, Class J, Class K, Class L and Class M
certificates with respect to the distribution date, then the pass-through
rate for that class of certificates on that distribution date will equal
the weighted average net mortgage interest rate.
(4) It is anticipated that the pass-through rate applicable to the Class E and
Class F certificates on each distribution date will be equal to the
weighted average of the net interest rates on the mortgage loans determined
without regard to any reductions in the interest rate resulting from
modification of the mortgage loans (in each case converted to a rate
expressed on the basis of a 360-day year consisting of twelve 30-day
months) minus [ ]% per annum.
(5) The assumed final distribution dates set forth have been determined on the
basis of the assumptions described in "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution
Date" in the prospectus supplement. The rated final distribution date for
each class of certificates is January 15, 2033. See "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution
Date" in the prospectus supplement.
(6) The weighted average life and period during which distributions of
principal would be received (or applied in the reduction of the notional
amount in the case of Class X certificates) set forth in the foregoing
table with respect to each class of certificates is based on the
assumptions set forth under "Yield and Maturity Considerations--Weighted
Average Life" and on the assumptions that there are no prepayments (other
than on each anticipated prepayment date, if any) or losses on the mortgage
loans and that there are no extensions of maturity dates of mortgage loans.
The Class F, Class G, Class H, Class I, Class J, Class K, Class L and Class M
are not offered by this prospectus supplement. The Class S, Class R and Class LR
certificates are not offered by the prospectus supplement or represented in this
table.
COLLATERAL OVERVIEW:
--------------------
Aggregate Principal Balance: $713,101,067
Number of Mortgage Loans: 105
Number of Mortgaged Properties: 116
Average Cut-Off Date Balance: $6,791,439
Weighted Average Current Mortgage Rate: 8.200%
Weighted Average Underwritten DSCR: 1.36x (1)
Weighted Average Loan-to-Value Ratio: 71.34% (1)
Weighted Average Original Term to Maturity (months): 119
Weighted Average Remaining Term to Maturity (months): 117
Weighted Average Amortization Term (months): 344
Balloon Loans as a % of Total: 91.00%
APD Loans as a % of Total: 7.19%
Interest-only Loans as a % of Total: 0.77%
Fully Amortizing Loans as a % of Total: 1.03%
Single Largest Loan as a % of Total: 5.55%
Five Largest Loans as a % of Total: 21.20%
Ten Largest Loans as a % of Total: 32.14%
(1) Exclude 5 credit tenant lease loans, representing 1.03% of the aggregate
principal balance of all mortgage loans as of the cut-off date.
<TABLE>
<CAPTION>
AGGREGATE
CUT-OFF DATE LOAN PER CUT-OFF PROPERTY
TEN LARGEST LOAN SUMMARY BALANCE % OF IPB SF/UNIT LTV DSCR TYPE
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Synergy Business Park I & II $39,600,000 5.55% $80.52 73.81% 1.24x Office
EII Portfolio I (Baa2/BBB-) 36,600,000 5.13 $30,990.69 54.71 2.18 Hotel
Embassy Suites - New Orleans 32,466,236 4.55 $87,274.83 69.08 1.38 Hotel
The Links at Oklahoma City 23,451,572 3.29 $39,883.63 73.29 1.22 Multifamily
University Park Tech I & II 19,080,240 2.68 $100.02 78.84 1.22 Industrial
Holiday Inn - Mansfield 16,953,839 2.38 $83,929.90 69.20 1.46 Hotel
Parkway Tower 15,683,486 2.20 $219.13 78.42 1.05* Office
Laguna Oaks Apartments 15,451,925 2.17 $76,875.25 78.80 1.22 Multifamily
Greenway Park Plaza 15,200,000 2.13 $73.84 80.00 1.34 Retail
Le Montrose Suite Hotel 14,705,230 2.06 $111,403.26 57.67 1.91 Hotel
TOTAL/WEIGHTED AVERAGE $229,192,528 32.14% 70.14% 1.46x
--------------------------------------------------------------------------------------------------------------------
</TABLE>
*Reverse earnout - please refer to the footnote on page 13.
NUMBER OF MORTGAGED AGGREGATE PRINCIPAL % OF INITIAL POOL
STATE PROPERTIES BALANCE BALANCE
--------------------------------------------------------------------------------
California 21 $135,337,169 18.98%
Texas 24 132,449,784 18.57
Tennessee 4 55,658,097 7.81
Louisiana 2 38,559,478 5.41
Maryland 7 33,078,234 4.64
Other States 58 318,018,305 44.60
TOTAL 116 $713,101,067 100.00%
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
NUMBER OF AGGREGATE % OF INITIAL POOL
PREPAYMENT PROVISIONS MORTGAGE LOANS PRINCIPAL BALANCE BALANCE
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Lockout period followed by defeasance 104 $701,112,971 98.32%
Lockout period followed by yield maintenance 1 11,988,095 1.68
TOTAL 105 $713,101,067 100.00%
-------------------------------------------------------------------------------------------------------
</TABLE>
KEY CHARACTERISTICS:
--------------------
Lead Manager: Chase Securities Inc. (book and co-lead);
Bear, Stearns & Co. Inc. (co-lead)
Master Servicer: GE Capital Loan Services, Inc.
Special Servicer: Lend Lease Asset Management, L.P.
Trustee: Wells Fargo Bank Minnesota, N.A.
Mortgage Loan Sellers: General Electric Capital Corporation (67%)
The Chase Manhattan Bank (19%) Bear, Stearns
Funding, Inc. (14%)
Closing: On or about December 20, 2000
Cut-off Date: December 10, 2000
Distribution Date: 15th day of each month or following business
day
ERISA Eligible: Classes A1, A2, B, C, D, E and X are expected
to be ERISA eligible
SMMEA Eligible: No classes are eligible
Structure: Sequential Pay
Day Count: 30/360, payable monthly
Tax Treatment: REMIC
Rated Final Distribution Date: January 15, 2033
Minimum Denominations: $10,000 initial principal amount for the
publicly offered certificates and 1,000,000
initial notional amount for the Class X
certificates. Each certificate will be
offered in multiples of 1 in excess of the
minimum denomination.
Delivery: DTC, Clearstream Banking, Euroclear
<TABLE>
<CAPTION>
CURRENT USE OF ALL NUMBER OF AGGREGATE PRINCIPAL % OF INITIAL POOL
MORTGAGED PROPERTIES MORTGAGED PROPERTIES BALANCE BALANCE
------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Office 24 $171,879,544 24.10%
Multifamily 19 151,204,259 21.20
Anchored Retail 21 117,968,413 16.54
Industrial 9 69,263,590 9.71
Full-Service Hotel 3 64,125,305 8.99
Unanchored Retail 14 49,230,246 6.90
Limited-Service Hotel 9 36,600,000 5.13
Manufactured Housing 5 23,051,303 3.23
Self Storage 7 22,418,959 3.14
CTL* 5 7,359,448 1.03
TOTAL 116 $713,101,067 100.00%
------------------------------------------------------------------------------------------
</TABLE>
*All with subsidiaries of CVS as a tenant, rated A by S&P and A3 by Moody's
NUMBER OF AGGREGATE PRINCIPAL % OF INITIAL POOL
PROPERTY TYPE (1) MORTGAGED PROPERTIES BALANCE BALANCE
-------------------------------------------------------------------------------
Office 24 $171,879,544 24.10%
Retail 35 167,198,659 23.45
Multifamily 19 151,204,259 21.20
Hotel 12 100,725,305 14.12
Industrial 9 69,263,590 9.71
TOTAL 99 $660,271,357 92.58%
-------------------------------------------------------------------------------
(1) Represents the property type concentrations in excess of 5% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
Page 2 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
COLLATERAL STATISTICS
<TABLE>
<CAPTION>
RANGE OF DSCR (1) NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1.0500x to 1.1999x (2) 1/1 $ 15,683,486 2.20%
1.2000x to 1.2299x 23/23 186,617,520 26.17
1.2300x to 1.2599x 23/23 158,343,341 22.21
1.2600x to 1.2999x 16/16 59,901,742 8.40
1.3000x to 1.3699x 14/14 86,590,205 12.14
1.3700x to 1.4999x 16/16 121,926,036 17.10
1.5000x to 2.4190x 7/18 76,639,289 10.75
TOTAL 100/111 $705,741,619 98.97%
--------------------------------------------------------------------------------------------------------
</TABLE>
(1) Exclude 5 credit tenant lease loans, representing 1.03% of the aggregate
principal balance of all mortgage loans as of the cut-off date.
(2) Reverse earnout - please refer to the footnote on page 13.
<TABLE>
<CAPTION>
RANGE OF LTV AS OF THE NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
THE CUT-OFF DATE (1) LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
34.83% to 59.99% 9/20 $ 84,466,237 11.84%
60.00% to 64.99% 7/7 24,487,963 3.43
65.00% to 68.99% 15/15 82,098,438 11.51
69.00% to 72.99% 19/19 151,843,303 21.29
73.00% to 76.99% 24/24 169,133,174 23.72
77.00% to 79.99% 21/21 152,520,454 21.39
80.00% to 80.91% 5/5 41,192,051 5.78
TOTAL 100/111 $705,741,619 98.97%
--------------------------------------------------------------------------------------------------------
</TABLE>
(1) Exclude 5 credit tenant lease loans, representing 1.03% of the aggregate
principal balance of all mortgage loans as of the cut-off date.
<TABLE>
<CAPTION>
RANGE OF PRINCIPAL NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
CUT-OFF DATE BALANCES LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$1,165,000 to 3,000,000 33/33 $ 69,729,343 9.78%
3,000,001 to 5,000,000 22/24 88,733,757 12.44
5,000,001 to 9,000,000 25/25 174,294,933 24.44
9,000,001 to 15,000,000 16/17 184,935,977 25.93
15,000,001 to 20,000,000 5/5 82,789,249 11.61
20,000,001 to 30,000,000 2/2 43,551,572 6.11
30,000,001 to 36,600,000 2/10 69,066,236 9.69
TOTAL 105/116 $713,101,067 100.00%
--------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
RANGE OF REMAINING TERM NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
TO MATURITY OR APD (MONTHS) LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
58 to 79 3/3 $ 19,932,906 2.80%
80 to 99 1/1 9,350,000 1.31
100 to 115 6/6 53,204,165 7.46
116 to 118 43/43 308,569,818 43.27
119 to 120 47/58 314,684,730 44.13
121 to 220 1/1 1,645,270 0.23
221 to 240 4/4 5,714,178 0.80
TOTAL 105/116 $713,101,067 100.00%
--------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
RANGE OF MORTGAGE RATES NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
LOANS/PROPERTIES PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7.700% to 7.899% 7/7 $ 51,800,597 7.26%
7.900% to 8.099% 29/32 214,137,515 30.03
8.100% to 8.199% 18/18 96,087,726 13.47
8.200% to 8.399% 36/44 243,557,581 34.15
8.400% to 8.599% 9/9 58,709,969 8.23
8.600% to 8.799% 5/5 44,026,859 6.17
8.800% to 9.000% 1/1 4,780,819 0.67
TOTAL 105/116 $713,101,067 100.00%
--------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AMORTIZATION TYPES NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
LOANS PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Balloon Loans (1) 97 $648,936,388 91.00%
APD Loans 2 51,305,230 7.19
Fully Amortizing Loans (2) 5 7,359,448 1.03
Interest-only Loans (3) 1 5,500,000 0.77
TOTAL 105 $713,101,067 100.00%
--------------------------------------------------------------------------------------------------------
</TABLE>
(1) Exclude APD loans and mortgage loans that pay interest-only for the life
of their terms. Include 1 loan that pays interest-only for 25 months.
(2) All of the mortgage loans identified as "fully amortizing loans" provide
for the accrual of interest on the basis of the actual number of days
elapsed in each payment period and a year assumed to consist of 360 days.
As a result, the scheduled payments due on the maturity date will be
greater than the other scheduled payments for those mortgage loans.
(3) These mortgage loans provide monthly payments of interest-only over the
entire term of the mortgage loans and the payment of the entire principal
amount of the mortgage loans at maturity.
<TABLE>
<CAPTION>
BALANCE OF ACCRUAL NUMBER OF MORTGAGE AGGREGATE % OF INITIAL POOL
OF INTEREST LOANS PRINCIPAL BALANCE BALANCE
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Actual/360 105 $713,101,067 100.00%
TOTAL 105 $713,101,067 100.00%
--------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
SUMMARY OF ISSUE
ISSUE TYPE: Sequential pay multi-class commercial mortgage
REMIC
OFFERED SECURITIES: Classes A-1, A-2, X, B, C, D, and E
COLLATERAL: Approximately $713,101,067 pool of 105 fixed-rate
commercial, multifamily and manufactured housing
community mortgage loans
LOAN SELLERS: General Electric Capital Corporation, The Chase
Manhattan Bank and Bear, Stearns Funding, Inc.
DEPOSITOR: GE Capital Commercial Mortgage Corporation
UNDERWRITERS: Chase Securities Inc.--Book Running Manager,
Co-Lead;
Bear, Stearns & Co. Inc.--Co-Lead;
Deutsche Bank Securities Inc.;
J.P. Morgan Securities Inc.;
Salomon Smith Barney Inc.
MASTER SERVICER: GE Capital Loan Services, Inc.
PRIMARY SERVICERS: GE Capital Loan Services, Inc., The Chase
Manhattan Bank
SPECIAL SERVICER: Lend Lease Asset Management, L.P.
TRUSTEE: Wells Fargo Bank Minnesota, N.A.
PAYING AGENT: The Chase Manhattan Bank
RATING AGENCIES: Moody's and Fitch
CUT-OFF DATE: December 10, 2000
CLOSING DATE: On or about December 20, 2000
DISTRIBUTION DATE: The 15 th day of the month or, if that day is not
a business day, the next business day, beginning
in January 2001, provided that the distribution
date will be no earlier than the fourth business
day after the related determination date.
DETERMINATION DATE: The 11 th day of the month in which the related
distribution date occurs, or if the 11 th day is
not a business day, then the immediately following
business day.
DENOMINATIONS: The offered certificates (other than the Class X
certificates) will be offered in minimum
denominations of $10,000 initial principal amount;
the Class X certificates will be offered in
minimum denominations of $1,000,000 initial
notional amount.
ERISA CONSIDERATIONS: All offered certificates are expected to be ERISA
eligible
SMMEA ELIGIBILITY: No certificates are eligible.
CERTIFICATE REGISTRATION: Certificate owners may hold their certificates
through DTC (in the United States) or Clearstream
Banking, societe anonyme or The Euroclear System
(in Europe) if they are participants of that
system, or indirectly through organizations that
are participants in those systems.
Page 4 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
STRUCTURAL CHARACTERISTICS
INTEREST ACCRUAL PERIOD: Interest will accrue on the offered certificates
during the calendar month prior to the related
distribution date and will be calculated assuming
that each month has 30 days and each year has 360
days.
PASS-THROUGH RATES: Certificates will accrue interest at an annual
rate called a pass-through rate which is set forth
below for each class other than the Class E and
Class X certificates:
Class A-1 [ ]%
Class A-2 [ ]%
Class B [ ]% (1)
Class C [ ]% (1)
Class D [ ]% (1)
(1) For any distribution date, if the weighted
average of the net interest rates on the
mortgage loans determined without regard to
any reductions in the interest rate resulting
from modification of the mortgage loans (in
each case converted to a rate expressed on
the basis of a 360-day year consisting of
twelve 30-day months and net of all servicing
and trustee fees) as of the first day of the
related due period is less than the rate
specified for the Class B, Class C or Class D
certificates with respect to the distribution
date, then the pass-through rate for that
class of certificates on that distribution
date will equal such weighted average net
mortgage interest rate.
If you invest in certain offered mezzanine classes
(anticipated to be Class E), your pass-through
rate will be equal to the weighted average
interest rate of the mortgage loans (in each case
converted to a rate expressed on the basis of a
360-day year consisting of twelve 30-day months
and net of all servicing and trustee fees), less
__% per annum.
If you invest in the Class X certificates, your
pass-through rate will be equal to the excess, if
any, of (1) the weighted average interest rate of
the mortgage loans (in each case adjusted, if
necessary to accrue on the basis of a 360-day year
consisting of twelve 30-day months and net of all
servicing and trustee fees) over (2) the weighted
average of the pass-through rates of the other
certificates (other than the Class S, Class R and
Class LR certificates) as described in the
prospectus supplement. The weighting will be based
upon the respective principal amounts of those
classes.
PRINCIPAL DISTRIBUTIONS: On each distribution date, funds available for
distribution from the mortgage loans, net of
specified trust expenses, will be distributed to
the class of certificates outstanding, with the
earliest alphabetical/numerical Class designation,
until its certificate balance is reduced to zero.
If the principal amount of each class of
certificates other than Class A-1 and Class A-2
has been reduced to zero, funds available for
principal will be distributed to Class A-1 and
Class A-2, PRO RATA, rather than sequentially.
Page 5 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
STRUCTURAL CHARACTERISTICS (CONTINUED)
INTEREST DISTRIBUTIONS: Each class of offered certificates (other than the
Class X certificates) will be entitled on each
distribution date to interest accrued at its
pass-through rate on the outstanding certificate
balance of such class during the prior calendar
month (on a 30/360 day basis). The Class X
certificates will be entitled on each distribution
date to the interest accrued at the related
pass-through rate on its notional amount during
the prior calendar month.
PREPAYMENT PROVISIONS: Each mortgage loan prohibits any prepayments or
defeasance for a specified period of time after
its date of origination (a "Lockout Period"). In
addition, the mortgage loans generally have open
prepayment periods 3 months prior to maturity.
Each mortgage loan restricts voluntary prepayments
in one of the following ways:
(1) 104 of the mortgage loans, representing
approximately 98.3% of the Initial Pool Balance,
permit only defeasance after the expiration of the
Lockout Period; and
(2) 1 of the mortgage loans, representing
approximately 1.7% of the Initial Pool Balance,
requires that any principal prepayment made during
a specified period of time after the Lockout
Period (a "yield maintenance period"), be
accompanied by a Yield Maintenance Charge.
YIELD MAINTENANCE
CHARGES: On any Distribution Date, yield maintenance
charges collected during the related Due Period
will be required to be distributed by the Paying
Agent and allocated between the Offered
Certificates and the Class X Certificates. No
yield maintenance charges will be payable to the
non-offered certificates.
REPRESENTATIONS AND
WARRANTIES: General Electric Capital Corporation, The Chase
Manhattan Bank, and Bear, Stearns Funding, Inc.
will make certain representations and warranties
with respect to each mortgage loan sold by General
Electric Capital Corporation, The Chase Manhattan
Bank, and Bear, Stearns Funding, Inc.,
respectively.
Page 6 of 16
<PAGE>
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AND PROSPECTUS. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR SALES REPRESENTATIVE.
SYNERGY BUSINESS PARK I & II
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE:
SYNERGY BUSINESS CENTER I: $19,500,000 $19,500,000
SYNERGY BUSINESS CENTER II: $20,100,000 $20,100,000
----------- -----------
TOTAL: $39,600,000 $39,600,000%
OF POOL BY IPB: 5.55%
ORIGINATOR: GECC
LOAN DATE: 11/03/00
INTEREST RATE: 7.980%
REMAINING AMORTIZATION: 360 months
MATURITY DATE: 12/1/10
SPONSOR: Jordan E. Slone, Herbert K. Bangel
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: Yes
RESERVES: SYNERGY BUSINESS PARK I LOAN:
Upfront TI/LC Reserve: $500,000 Monthly TI/LC
Reserve: $18,330 (to replenish upfront reserves
after depletion) Monthly Replacement Reserve:
$3,870 Upfront Engineering Reserve: $26,250
SYNERGY BUSINESS PARK II LOAN:
Upfront TI/LC Reserve: $500,000 Monthly TI/LC
Reserve: $18,460 (to replenish upfront reserves
after depletion) Upfront Replacement Reserve:
$244,750 Monthly Replacement Reserve: $3,695
Upfront Engineering Reserve: $9,000
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Portfolio
PROPERTY TYPE: Office
LOCATION: Brentwood, TN
YEAR BUILT: 1983
COLLATERAL: Eight multi-tenanted office buildings comprising
the former Koger-Nashville Office Park. The four
buildings securing the Synergy Business Park I
Loan contain approximately 243,691 square feet of
net leaseable area, three of which were built
between 1984 and 1987 and one of which was built
in 1863 and renovated in 1985. The four buildings
securing the Synergy Business Park II loan contain
approximately 248,109 square feet of net leasable
area and were built between 1983 and 1998.
MAJOR TENANTS
(% OF TOTAL SF): SYNERGY BUSINESS PARK I:
GE Information Services, Inc. (24.39%)
Hart Freeland (9.68%)
Hospital Affiliate (5.33%)
SYNERGY BUSINESS PARK II :
General Motors AC (9.31%)
PMT Services, Inc. (8.02%)
Vanderbilt University (4.14%)
CURRENT OCCUPANCY: 93.76%
UWNCF: $4,326,139 (total)
APPRAISED VALUE: $53,650,000 (total)
APPRAISAL DATE: 9/1/00
CUT-OFF DATE LOAN/SF: $80.52
CUT-OFF DATE LTV: 73.81%
BALLOON LTV: 66.06%
UWNCF DSCR: 1.24x
[GRAPHIC OMITTED: TWO PHOTOGRAPHS OF SYNERGY BUSINESS PARK I & II PROPERTIES]
Page 7 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
EII PORTFOLIO I
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL-BALANCE: $36,600,000 $36,600,000
SHADOW RATING: Baa2 (Moody's), BBB-(Fitch)
% OF POOL BY IPB: 5.13%
ORIGINATOR: GECC
LOAN DATE: 11/07/00
INTEREST RATE: 8.250%
REMAINING AMORTIZATION: 287 months*
APD: 12/1/10
SPONSOR: Equity Inns Inc. (NYSE - ENN)
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
CASH-MANAGEMENT: Springing hard at 1.45x DSCR(set up at closing)
RESERVES: Upfront Improvement Plan Reserve: $500,000
Upfront Engineering Reserve: $86,407
Monthly Replacement Reserve: 4% of gross revenue
Debt Service Escrow: $877,920
Ground Lease Escrow: $19,800
* weighted average based on 300 months for 8 properties and 228 months for 1
property
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Portfolio
PROPERTY TYPE: Limited-Service Hotel
LOCATION: Various
YEAR BUILT: Various
COLLATERAL: Eight limited-service Hampton Inns hotels in
Scranton, Pennsylvania; Colonie, New York; Glen
Burnie, Maryland; Norfolk, Virginia; Chattanooga,
Tennessee; Aurora, Colorado; Beckley, West
Virginia and Maryland Heights, Missouri; and one
limited service Residence Inn hotel in Oklahoma
City, Oklahoma. The hotels have a total of 1,181
rooms.
CURRENT OCCUPANCY: 69.98%
UNDERWRITTEN ADR: $71.93
UNDERWRITTEN REVPAR: $49.62
UWNCF: $7,659,799
APPRAISED VALUE: $66,900,000
APPRAISAL DATE: 8/3/00-8/21/00
CUT-OFF DATE LOAN/ROOM: $30,990.69
CUT-OFF DATE LTV: 54.71%
BALLOON LTV: 44.40%
UWNCF DSCR: 2.18x
[GRAPHIC OMITTED: TWO PHOTOGRAPHS OF EII PORTFOLIO I PROPERTIES]
Page 8 of 16
<PAGE>
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THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
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CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
EMBASSY SUITES - NEW ORLEANS
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $32,650,000 $32,466,236
% OF POOL BY IPB: 4.55%
ORIGINATOR: CMB
LOAN DATE: 5/2/00
INTEREST RATE: 8.77%
REMAINING AMORTIZATION: 293 months
MATURITY DATE: 5/10/10
BORROWER/SPONSOR: Felcor Lodging Trust, Inc.
CALL PROTECTION: Lockout followed by defeasance
RESERVES: Debt Service Reserve: $537,925
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Hotel
LOCATION: New Orleans, LA
YEAR BUILT/YEAR RENOVATED: 1909/1999
COLLATERAL: The hotel contains approximately 372 suites and is
comprised of two properties. 315 Julia Street is a
16-story property which contains approximately 282
suites and was built in 1984 and renovated in
1996. 727 South Peters Street is a 7-story
building, which contains approximately 90 suites.
727 South Peters Street was originally built in
1909 as an office building, renovated into a hotel
in 1998.
CURRENT OCCUPANCY: 69.90%
UNDERWRITTEN ADR: $141.50
UNDERWRITTEN REVPAR: $99.05
UWNCF: $4,456,578
APPRAISED VALUE: $47,000,000
APPRAISAL DATE: 3/22/00
CUT-OFF DATE LOAN/UNIT: $87,274.83
CUT-OFF DATE LTV: 69.08%
BALLOON LTV: 58.66%
UWNCF DSCR: 1.38x
[GRAPHIC OMITTED: TWO PHOTOGRAPHS OF EMBASSY SUITES - NEW ORLEANS PROPERTIES]
Page 9 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
THE LINKS AT OKLAHOMA CITY
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $23,500,000 $23,451,572
% OF POOL BY IPB: 3.29%
ORIGINATOR: GECC
LOAN DATE: 7/31/00
INTEREST RATE: 8.340%
REMAINING AMORTIZATION: 356 months
MATURITY DATE: 8/1/10
SPONSOR: GP-The Links at OKC Mgmt Co, LP, James E. Lindsey,
J.E. Lindsey Family, LP, John R. Rutledge
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
RESERVES: Monthly Replacement Reserve: $9,800
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY-TYPE: Multifamily
LOCATION: Oklahoma City, OK
YEAR BUILT: 1997 to 2000
COLLATERAL: A 49 building 588 unit apartment complex, located
in Oklahoma City, Oklahoma. The complex is
surrounded by a 9-hole golf course and contains
196 one-bedroom units and 392 two-bedroom units.
Amenities include a 9-hole golf course, a swimming
pool, a tennis court, a basketball court, a sand
volleyball court and a fitness center.
CURRENT OCCUPANCY: 98.00%
UWNCF: $2,614,582
APPRAISED VALUE: $32,000,000
APPRAISAL DATE: 7/7/00
CUT-OFF DATE LOAN/UNIT: $39,883.63
CUT-OFF DATE LTV: 73.29%
BALLOON LTV: 66.27%
UWNCF DSCR: 1.22x
[GRAPHIC OMITTED: PHOTOGRAPH OF THE LINKS AT OKLAHOMA CITY PROPERTIES]
Page 10 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
UNIVERSITY PARK TECH I & II
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE:
UNIVERSITY PARK TECH I: $10,250,000 $10,239,396
UNIVERSITY PARK TECH II: $ 8,850,000 $ 8,840,844
----------- -----------
TOTAL: $19,100,000 $19,080,240
% OF POOL BY IPB: 2.68%
ORIGINATOR: GECC
LOAN DATE: 9/20/00
INTEREST RATE: 8.300%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 10/1/10
SPONSOR: Eric Brauss
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: Yes
RESERVES: THE UNIVERSITY PARK TECH I LOAN:
Upfront TI/LC Reserve: $200,000
Monthly TI/LC Reserve: $3,545 (to replenish
upfront Reserves after depletion)
Specific Tenant Security Escrows: $215,000
THE UNIVERSITY PARK TECH II LOAN:
Monthly TI/LC Reserve: $3,557
Specific Tenant Security/Leasing Escrows: $865,925
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Portfolio
PROPERTY TYPE: Office
LOCATION: San Antonio, TX
YEAR BUILT: 1999
COLLATERAL: The building securing the University Park Tech I
Loan contains approximately 106,237 square feet of
net leasable area and was built in 1999. The
building securing the University Park Tech II Loan
contains approximately 84,525 square feet of net
leasable area and was built in 1999.
MAJOR TENANTS
(% OF TOTAL SF): Clark American Checks, Inc. (35.65%)
Columbia/HCA Health Services (20.27%)
SBC Telecom, Inc. (20.04%)
CURRENT OCCUPANCY: 100.00%
UWNCF: $2,112,707 (total)
APPRAISED VALUE: $24,200,000 (total)
APPRAISAL DATE: 8/3/00
CUT-OFF DATE LOAN/SF: $100.02
CUT-OFF DATE LTV: 78.84%
BALLOON LTV: 71.17%
UWNCF DSCR: 1.22x
[GRAPHIC OMITTED: PHOTOGRAPH OF UNIVERSITY PARK TECH I & II PROPERTIES]
Page 11 of 16
<PAGE>
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THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
HOLIDAY INN - MANSFIELD
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $17,000,000 $16,953,839
% OF POOL BY IPB: 2.38%
ORIGINATOR: CMB
LOAN DATE: 9/1/00
INTEREST RATE: 8.450%
REMAINING AMORTIZATION: 297 months
MATURITY DATE: 9/10/10
SPONSOR: Gerald Fineberg
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
RESERVES: Monthly Replacement Reserve: $30,546
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Full-Service Hotel
LOCATION: Mansfield, MA
YEAR BUILT/YEAR RENOVATED: 1979/2000
COLLATERAL: A full service hotel located in Mansfield,
Massachusetts. The two-and three-story hotel
contains 202 units. The hotel was built in 1979
and renovated in 2000.
CURRENT OCCUPANCY: 72.50%
UNDERWRITTEN ADR: $96.53
UNDERWRITTEN REVPAR: $73.37
UWNCF: $2,394,536
APPRAISED VALUE: $24,500,000
APPRAISAL DATE: 7/1/00
CUT-OFF DATE LOAN/ROOM: $83,929.90
CUT-OFF DATE LTV: 69.20%
BALLOON LTV: 58.04%
UWNCF DSCR: 1.46x
[GRAPHIC OMITTED: PHOTOGRAPH OF HOLIDAY INN - MANSFIELD PROPERTY]
Page 12 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
PARKWAY TOWER
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $15,700,000 $15,683,486
% OF POOL BY IPB: 2.20%
ORIGINATOR: CMB
LOAN DATE: 10/5/00
INTEREST RATE: 8.240%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 10/10/10
SPONSOR: Maskatiya, Suri & Company
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
RESERVES: Monthly Replacement Reserve: $1,585
Upfront TI/LC Reserve: $1,970,000
Upfront Engineering Reserve: $5,625
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
LOCATION: Santa Clara, CA
YEAR BUILT: 1982
COLLATERAL: One multi-tenanted office building located in the
financial district of Santa Clara.
MAJOR TENANTS
(% OF TOTAL SF): Arisin Corporation (16.30%)
Netscaler (14.98%)
Speedera Network(14.81%)
CURRENT OCCUPANCY: 100.00%
UWNCF: $1,485,816*
APPRAISED VALUE: $20,000,000
APPRAISAL DATE: 8/25/00
CUT-OFF DATE LOAN/SF: $219.13
CUT-OFF DATE LTV: 78.42%
BALLOON LTV: 70.69%
UWNCF DSCR: 1.05x*
* At closing, lender held back $1,970,000. This hold back will be released
and/or applied to the loan balance (by partially defeasing the loan) no
later than October 2, 2001. The escrow will be released subject to the
following conditions: a) certain spaces renewed or relet; b) the actual
debt service coverage is at a minimum of 1.20x.
[GRAPHIC OMITTED: PHOTOGRAPH OF PARKWAY TOWER PROPERTY]
Page 13 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
LAGUNA OAKS APARTMENTS
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $15,470,000 $15,451,925
% OF POOL BY IPB: 2.17%
ORIGINATOR: GECC
LOAN DATE: 9/21/00
INTEREST RATE: 7.850%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 10/1/10
SPONSOR: The Aspen Group, Inc., Sanford Gallanter,
Edwin Sacks
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
RESERVES: Monthly Replacement Reserve: $3,420
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Multifamily
LOCATION: Elk Grove, CA
YEAR BUILT: 1999
COLLATERAL: 25 building 201 unit class "A" apartment complex
approximately 12 miles from Sacramento. The
complex contains 48 one-bedroom units, 105
two-bedroom units and 48 three-bedroom units.
Amenities include an outdoor swimming pool, a
fitness center, a sauna and 405 parking spaces.
CURRENT OCCUPANCY: 99.00%
UWNCF: $1,633,890
APPRAISED VALUE: $19,610,000
APPRAISAL DATE: 8/31/00
CUT-OFF DATE LOAN/UNIT: $76,875.25
CUT-OFF DATE LTV: 78.80%
BALLOON LTV: 70.39%
UWNCF DSCR: 1.22x
[GRAPHIC OMITTED: PHOTOGRAPH OF LAGUNA OAKS APARTMENTS PROPERTY]
Page 14 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
GREENWAY PARK PLAZA
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $15,200,000 $15,200,000
% OF POOL BY IPB: 2.13%
ORIGINATOR: CMB
LOAN DATE: 11/9/00
INTEREST RATE: 8.090%
REMAINING AMORTIZATION: 360 months
MATURITY DATE: 12/10/10
BORROWER/SPONSOR: Ron Barness, Alex Papakyriakou
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
RESERVES: Upfront Replacement Reserve: $6,500
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Anchored Retail
LOCATION: Phoenix, AZ
YEAR BUILT: 1989
COLLATERAL: A single story, neighborhood retail shopping
Center anchored by a Food City. The property is
comprised of ten buildings, and six of these are
included in the collateral.
MAJOR TENANTS
(% OF TOTAL SF): Food City (25.06%)
Goodwill Industries (12.14%)
Pure Fitness Athletic Center (7.29%)
CURRENT OCCUPANCY: 96.28%
UWNCF: $ 1,808,283
APPRAISED VALUE: $ 19,000,000
APPRAISAL DATE: 9/9/00
CUT-OFF DATE LOAN/SF: $73.84
CUT-OFF DATE LTV: 80.00%
BALLOON LTV: 71.79%
UWNCF DSCR: 1.34x
[GRAPHIC OMITTED: PHOTOGRAPH OF GREENWAY PARK PLAZA PROPERTY]
Page 15 of 16
<PAGE>
[CHASE-LOGO]
THE RIGHT RELATIONSHIP IS EVERYTHING.(R)
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
LE MONTROSE SUITE HOTEL
--------------------------------------------------------------------------------
LOAN INFORMATION
--------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $14,750,000 $14,705,230
% OF POOL BY IPB: 2.06%
ORIGINATOR: GECC
LOAN DATE: 7/27/00
INTEREST RATE: 8.080%
REMAINING AMORTIZATION: 320 months
MATURITY DATE: 8/1/10
BORROWER/SPONSOR: LaSalle Hotel Properties, ("LHO" on the NYSE)
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX Springing hard at 1.40x DSCR (set up at closing)
RESERVES: Upfront Engineering Reserve: $20,500 4% FF&E upon
a 1.40x DSCR trigger
--------------------------------------------------------------------------------
PROPERTY INFORMATION
--------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Full-Service Hotel
LOCATION: Los Angeles, CA
YEAR BUILT / RENOVATED: 1975/2000
COLLATERAL: A full-service hotel located 2 blocks south of
Sunset Strip in West Hollywood, CA. The hotel has
132 bedrooms, an outdoor swimming pool, tennis
court, sauna and exercise room. The property was
originally built in 1975 and converted to a hotel
in 1989
CURRENT OCCUPANCY: 71.00%
UNDERWRITTEN ADR: $163.40
UNDERWRITTEN REVPAR: $117.65
UWNCF: $2,574,119
APPRAISED VALUE: $25,500,000
APPRAISAL DATE: 7/1/00
CUT-OFF DATE LOAN/UNIT: $111,403.26
CUT-OFF DATE LTV: 57.67%
BALLOON LTV: 49.74%
UWNCF DSCR: 1.91x
[GRAPHIC OMITTED: PHOTOGRAPH OF LE MONTROSE PROPERTY]
Page 16 of 16
