<PAGE> 1
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): December 11, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE
-----------------------------------------------
(State or other jurisdiction of incorporation)
33-91148 13-3526694
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(Commission File Number) (IRS Employer Identification No.)
ONE SEAPORT PLAZA, 26TH FLOOR, NEW YORK, NEW YORK 10292
-----------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 778-1000
--------------------------
Not applicable
---------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
Exhibit 99 Underwriter's Statement Relating to Prudential Securities
Secured Financing Corporation, Commercial Mortgage Pass-
Through Certificates, Series 1995-MCF-2, together with
Collateral Term Sheet.
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 thereunto duly authorized.
PRUDENTIAL SECURITIES SECURED
FINANCING CORPORATION
(Registrant)
DATE: December 12, 1995 BY: /s/ Peter Riemenschneider
-------------------------
Peter Riemenschneider
Vice President
<PAGE> 3
EXHIBIT INDEX
-------------
Exhibit No. Description
----------- -----------
Exhibit 99 Underwriter's Statement Relating to Prudential Securities
Secured Financing Corporation, Commercial Mortgage Pass-
Through Certificates, Series 1995-MCF-2, together with
Collateral Term Sheet.
<PAGE> 1
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
UNDERWRITER'S STATEMENT
PRUDENTIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
The attached Structural Term Sheet and Collateral Term Sheet (collectively, the
"Computational Materials") are privileged and confidential and are intended for
use by the addressee only. These Computational Materials are furnished to you
solely by Prudential Securities Incorporated ("Prudential") and not by the
issuer of the securities. The issuer of the securities is an affiliate of
Prudential. The Computational Materials are based upon information made
available to Prudential. None of Prudential, the issuer of the securities, or
any of their affiliates makes any representations as to the accuracy or
completeness of the information herein. The information herein, including,
without limitation, the description of the collateral contained in the
Collateral Term Sheet, is preliminary, and will be superseded by the
information and descriptions contained in the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission. These Computational Materials may not be provided to any
third party other than the addressee's legal, tax, financing and/or accounting
advisors for the purposes of evaluating said material.
No assurance can be given as to the accuracy, appropriateness or completeness
of the Computational Materials in any particular context or as to whether the
Computational Materials reflect future performance. These Computational
Materials should not be construed as either projections or predictions or as
legal, tax, financial or accounting advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment and other assumptions and actual experience may affect
dramatically such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the attached Computational Materials. The
principal amount and designation of any security described in the Computational
Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in the Structural Term Sheet has been filed with the
Securities Exchange Commission and is effective, a prospectus supplement
relating to such securities has not been filed with the Securities and Exchange
Commission. This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus supplement relating
to the securities discussed in the Structural Term Sheet for definitive terms
of the securities and the collateral. A preliminary and final prospectus
supplement may be obtained by contacting the Prudential Securities Trading Desk
at (212) 778-2741.
Please be advised that mortgage-backed securities may not be appropriate for
all investors. Potential investors must be willing to assume, among other
things, market price volatility, prepayments, yield curve and interest rate
risks. Investors should fully consider the risk of an investment in these
securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to
herein in making their investment decision. This Investor Preliminary
Structural Term Sheet ( Structural Term Sheet ) does not include all relevant
information relating to the securities described herein, particularly with
respect to the risks and special considerations associated with an investment
in such securities. All structural information contained herein is preliminary
and it is anticipated that such information will change. Any information
contained herein will be more fully described in, and will be fully superseded
by, the descriptions of the structure in the final prospectus supplement and
Final Prospectus. Although the information contained in this Structural Term
Sheet is based on sources which Prudential Securities Incorporated (PSI)
believes to be reliable, PSI makes no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions or opinions with respect to value. PSI and
its affiliates may in the future have a position in the securities discussed
herein and may purchase or sell the same on a principal basis or as agent for
another person. In addition, PSI and certain of its affiliates may currently
be providing investment banking and other services to the issuer of such
securities and the borrowers and their affiliates. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 2
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
RANGE OF CUT-OFF DATE LOAN BALANCES
<TABLE>
<CAPTION>
RANGE OF NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
CUT-OFF OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
DATE MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
BALANCES LOANS OF LOANS BALANCE BALANCE RATE DSCR
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
$ 500,000 to: 999,999 12 14.1% 9,630,002 4.3% 8.957% 1.37
---
$1,000,000 to: 1,499,999 18 21.2% 23,378,802 10.5% 9.012% 1.41
---
$1,500,000 to: 1,999,999 10 11.8% 17,340,704 7.8% 8.927% 1.35
---
$2,000,000 to: 2,499,999 9 10.6% 19,756,469 8.8% 9.124% 1.35
---
$2,500,000 to: 2,999,999 10 11.8% 27,675,532 12.4% 9.106% 1.35
---
$3,000,000 to: 3,499,999 5 5.9% 16,205,886 7.2% 8.955% 1.29
---
$3,500,000 to: 3,999,999 6 7.1% 22,736,151 10.2% 8.686% 1.37
---
$4,000,000 to: 4,499,999 4 4.7% 17,203,779 7.7% 8.820% 1.33
---
$4,500,000 to: 4,999,999 2 2.4% 9,250,000 4.1% 8.226% 1.31
---
$5,000,000 to: 5,499,999 1 1.2% 5,350,000 2.4% 7.890% 1.39
---
$5,500,000 to: 5,999,999 1 1.2% 5,500,000 2.5% 8.050% 1.22
---
$6,000,000 to: 6,499,999 2 2.4% 12,558,061 5.6% 8.713% 1.46
---
$6,500,000 to: 6,999,999 2 2.4% 13,287,984 5.9% 8.429% 1.49
---
$7,000,000 to: 7,499,999 1 1.2% 7,400,000 3.3% 8.750% 1.26
---
$8,000,000 to: 8,499,999 2 2.4% 16,365,800 7.3% 8.590% 1.43
---
- ----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
RANGE OF MORTGAGE LOAN INTEREST RATES
<TABLE>
<CAPTION>
RANGE OF NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
MORTGAGE OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
LOAN MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
RATES LOANS OF LOANS BALANCE BALANCE RATE DSCR
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
7.750% to: 7.999% 3 3.5% 13,450,000 6.0% 7.894% 1.37
---
8.000% to: 8.249% 5 5.9% 21,401,009 9.6% 8.122% 1.44
---
8.250% to: 8.499% 11 12.9% 29,547,198 13.2% 8.346% 1.37
---
8.500% to: 8.749% 12 14.1% 43,995,227 19.7% 8.606% 1.39
---
8.750% to: 8.999% 17 20.0% 34,162,567 15.3% 8.842% 1.31
---
9.000% to: 9.249% 15 17.6% 33,444,503 15.0% 9.139% 1.39
---
9.250% to: 9.499% 9 10.6% 19,386,187 8.7% 9.373% 1.34
---
9.500% to: 9.749% 10 11.8% 23,043,156 10.3% 9.605% 1.28
---
9.750% to: 9.999% 2 2.4% 4,061,879 1.8% 9.903% 1.53
---
10.000% to: 10.249% 1 1.2% 1,147,446 0.5% 10.060% 1.36
---
- ----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to
herein in making their investment decision. This Investor Preliminary
Collateral Term Sheet ( Collateral Term Sheet ) does not include all relevant
information relating to the securities described herein, particularly with
respect to the risks and special considerations associated with an investment
in such securities. All collateral information contained herein is preliminary
and it is anticipated that such information will change. Any information
contained herein will be more fully described in, and will be fully superseded
by, the descriptions of the collateral in the final prospectus supplement and
Final Prospectus. Although the information contained in this Collateral Term
Sheet is based on sources which Prudential Securities Incorporated (PSI)
believes to be reliable, PSI makes no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions or opinions with respect to value. Prior to
making any investment decision, a prospective investor should receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 3
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
RANGE OF REMAINING TERM OF AMORTIZATION (IN MONTHS)
<TABLE>
<CAPTION>
RANGE OF NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
REMAINING OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
AMORTIZATION MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
(IN MONTHS) LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
168 to: 179 3 3.5% 5,031,579 2.2% 9.307% 1.35
180 to: 191 2 2.4% 6,825,000 3.1% 8.069% 1.33
192 to: 203 2 2.4% 6,040,017 2.7% 8.525% 1.31
216 to: 227 1 1.2% 3,750,000 1.7% 8.650% 1.23
228 to: 239 10 11.8% 24,857,748 11.1% 9.115% 1.36
240 to: 251 7 8.2% 15,755,500 7.0% 8.491% 1.34
252 to: 263 2 2.4% 4,458,909 2.0% 9.130% 1.33
264 to: 275 2 2.4% 10,625,559 4.8% 8.676% 1.51
288 to: 299 35 41.2% 81,806,569 36.6% 9.041% 1.37
300 to: 311 20 23.5% 57,938,290 25.9% 8.513% 1.37
420 to: 431 1 1.2% 6,550,000 2.9% 8.510% 1.44
- -----------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
279 85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
YEAR OF MATURITY RANGE
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
RANGE OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
YEAR MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
MATURITY LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
2000 1 1.2% 4,750,000 2.1% 7.900% 1.32
2002 7 8.2% 24,795,991 11.1% 8.140% 1.44
2003 2 2.4% 6,222,490 2.8% 8.189% 1.24
2005 15 17.6% 42,703,630 19.1% 8.703% 1.37
2007 22 25.9% 35,477,243 15.9% 8.933% 1.37
2008 1 1.2% 4,500,000 2.0% 8.570% 1.31
2010 30 35.3% 68,495,339 30.6% 9.229% 1.36
2011 4 4.7% 22,015,800 9.8% 8.619% 1.40
2012 1 1.2% 4,390,017 2.0% 8.200% 1.30
2014 1 1.2% 2,888,661 1.3% 9.550% 1.35
2015 1 1.2% 7,400,000 3.3% 8.750% 1.26
- -----------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to herein
in making their investment decision. This Investor Preliminary Collateral Term
Sheet ( Collateral Term Sheet ) does not include all relevant information
relating to the securities described herein, particularly with respect to the
risks and special considerations associated with an investment in such
securities. All collateral information contained herein is preliminary and it is
anticipated that such information will change. Any information contained herein
will be more fully described in, and will be fully superseded by, the
descriptions of the collateral in the final prospectus supplement and Final
Prospectus. Although the information contained in this Collateral Term Sheet is
based on sources which Prudential Securities Incorporated (PSI) believes to be
reliable, PSI makes no representation or warranty that such information is
accurate or complete. Such information should not be viewed as projections,
forecasts, predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 4
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
LOAN ORIGINATION YEAR
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
YEAR LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1993 1 1.2% 6,737,984 3.0% 8.350% 1.54
1995 84 98.8% 216,901,187 97.0% 8.812% 1.36
- -----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
RANGE OF LTV RATIOS
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
RANGE OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
OF LTV MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
RATIOS LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
25.0% to: 29.9% 1 1.2% 2,888,661 1.3% 9.550% 1.35
35.0% to: 39.9% 1 1.2% 1,086,299 0.5% 9.830% 1.44
40.0% to: 44.9% 1 1.2% 1,325,000 0.6% 8.150% 1.79
50.0% to: 54.9% 5 5.9% 19,056,156 8.5% 8.529% 1.44
55.0% to: 59.9% 10 11.8% 19,974,260 8.9% 8.716% 1.48
60.0% to: 64.9% 18 21.2% 40,283,348 18.0% 8.903% 1.34
65.0% to: 69.9% 18 21.2% 56,639,300 25.3% 8.852% 1.38
70.0% to: 74.9% 26 30.6% 71,365,648 31.9% 8.763% 1.33
75.0% to: 79.9% 4 4.7% 8,770,500 3.9% 8.733% 1.27
80.36% 1 1.2% 2,250,000 1.0% 8.900% 1.21
- -----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
65.9% 85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to herein
in making their investment decision. This Investor Preliminary Collateral Term
Sheet ( Collateral Term Sheet ) does not include all relevant information
relating to the securities described herein, particularly with respect to the
risks and special considerations associated with an investment in such
securities. All collateral information contained herein is preliminary and it is
anticipated that such information will change. Any information contained herein
will be more fully described in, and will be fully superseded by, the
descriptions of the collateral in the final prospectus supplement and Final
Prospectus. Although the information contained in this Collateral Term Sheet is
based on sources which Prudential Securities Incorporated (PSI) believes to be
reliable, PSI makes no representation or warranty that such information is
accurate or complete. Such information should not be viewed as projections,
forecasts, predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 5
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
RANGE OF DSCRS
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
RANGE OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
OF MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
DSCRS LOANS OF LOANS BALANCE BALANCE RATE DSCR
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1.15 to: 1.19 1 1.2% 1,300,000 0.6% 8.310% 1.18
1.20 to: 1.24 10 11.8% 27,771,131 12.4% 8.931% 1.21
1.25 to: 1.29 7 8.2% 23,294,804 10.4% 8.654% 1.28
1.30 to: 1.34 21 24.7% 49,823,146 22.3% 8.860% 1.32
1.35 to: 1.39 24 28.2% 57,198,701 25.6% 8.929% 1.37
1.40 to: 1.44 9 10.6% 23,572,383 10.5% 8.657% 1.42
1.45 to: 1.49 3 3.5% 6,612,575 3.0% 9.078% 1.47
1.50 to: 1.54 4 4.7% 20,178,386 9.0% 8.446% 1.52
1.55 to: 1.59 3 3.5% 10,066,596 4.5% 8.670% 1.58
1.60 to: 1.64 1 1.2% 1,150,000 0.5% 8.900% 1.64
1.75 to: 1.79 1 1.2% 1,325,000 0.6% 8.150% 1.79
1.80 to: 1.84 1 1.2% 1,346,450 0.6% 9.150% 1.84
- ----------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
1.37 85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to herein
in making their investment decision. This Investor Preliminary Collateral Term
Sheet ( Collateral Term Sheet ) does not include all relevant information
relating to the securities described herein, particularly with respect to the
risks and special considerations associated with an investment in such
securities. All collateral information contained herein is preliminary and it is
anticipated that such information will change. Any information contained herein
will be more fully described in, and will be fully superseded by, the
descriptions of the collateral in the final prospectus supplement and Final
Prospectus. Although the information contained in this Collateral Term Sheet is
based on sources which Prudential Securities Incorporated (PSI) believes to be
reliable, PSI makes no representation or warranty that such information is
accurate or complete. Such information should not be viewed as projections,
forecasts, predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 6
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
RANGE OF EFFECTIVE AGE OF PROPERTY IN YEARS
<TABLE>
<CAPTION>
RANGE NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
OF EFFECTIVE OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
AGE OF MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
PROPERTY LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 to: 4 25 29.4% 76,399,441 34.2% 8.798% 1.34
5 to: 9 29 34.1% 83,880,477 37.5% 8.825% 1.37
10 to: 14 13 15.3% 27,160,217 12.1% 8.684% 1.41
15 to: 19 4 4.7% 8,048,008 3.6% 8.991% 1.31
20 to: 24 10 11.8% 16,821,325 7.5% 8.898% 1.37
25 to: 29 2 2.4% 1,796,619 0.8% 8.667% 1.39
30 to: 34 2 2.4% 9,533,086 4.3% 8.582% 1.49
- -----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
8 85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
RANGE OF PROPERTY TYPES
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
PROPERTY MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
TYPES LOANS OF LOANS BALANCE BALANCE RATE DSCR
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Commercial/Residential 1 1.2% 7,400,000 3.31% 8.750% 1.26
Congregate Care 3 3.5% 13,074,653 5.85% 8.439% 1.52
Hotel 1 1.2% 2,975,580 1.33% 9.930% 1.56
Industrial 3 3.5% 6,984,461 3.12% 8.331% 1.28
Light Industrial 6 7.1% 10,232,385 4.58% 9.029% 1.41
Mini Warehouse 3 3.5% 4,133,745 1.85% 9.517% 1.44
Mobile Home Park 2 2.4% 3,660,000 1.64% 8.310% 1.34
Multifamily 22 25.9% 46,771,779 20.91% 8.531% 1.39
Nursing Home 1 1.2% 1,497,664 0.67% 8.690% 1.51
Office 7 8.2% 13,850,422 6.19% 8.921% 1.33
Office/Warehouse 2 2.4% 3,148,380 1.41% 9.492% 1.40
Retail 31 36.5% 98,320,091 43.96% 8.903% 1.34
Retail/Multifamily 1 1.2% 1,446,522 0.65% 9.700% 1.24
Retail/Office 2 2.4% 10,143,489 4.54% 8.662% 1.42
- -----------------------------------------------------------------------------------------------------------------------
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to herein
in making their investment decision. This Investor Preliminary Collateral Term
Sheet ( Collateral Term Sheet ) does not include all relevant information
relating to the securities described herein, particularly with respect to the
risks and special considerations associated with an investment in such
securities. All collateral information contained herein is preliminary and it is
anticipated that such information will change. Any information contained herein
will be more fully described in, and will be fully superseded by, the
descriptions of the collateral in the final prospectus supplement and Final
Prospectus. Although the information contained in this Collateral Term Sheet is
based on sources which Prudential Securities Incorporated (PSI) believes to be
reliable, PSI makes no representation or warranty that such information is
accurate or complete. Such information should not be viewed as projections,
forecasts, predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 7
DATED: December 10, 1995
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
- --------------------------------------------------------------------------------
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
GEOGRAPHIC RANGE
<TABLE>
<CAPTION>
NUMBER PERCENT AGGREGATE % AGGREGATE WEIGHTED WEIGHTED
OF BY CUT-OFF DATE CUT-OFF DATE AVERAGE AVERAGE
MORTGAGE NUMBER PRINCIPAL PRINCIPAL MORTGAGE MORTGAGE
STATES LOANS OF LOANS BALANCE BALANCE RATE DSCR
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
AK 1 1.2% 1,673,009 0.7% 9.660% 1.40
AR 1 1.2% 3,887,575 1.7% 9.240% 1.46
AZ 2 2.4% 2,616,864 1.2% 8.594% 1.27
CA 11 12.9% 37,222,173 16.6% 8.903% 1.35
CO 3 3.5% 4,408,008 2.0% 8.442% 1.34
CT 1 1.2% 787,315 0.4% 9.360% 1.27
DC 2 2.4% 9,300,000 4.2% 8.803% 1.30
FL 5 5.9% 18,679,529 8.4% 9.125% 1.30
IL 1 1.2% 1,381,505 0.6% 9.170% 1.40
IN 2 2.4% 3,569,020 1.6% 8.978% 1.35
KS 1 1.2% 2,250,000 1.0% 8.900% 1.21
KY 1 1.2% 2,789,889 1.2% 9.100% 1.34
LA 2 2.4% 5,245,500 2.3% 8.641% 1.27
MA 4 4.7% 19,535,844 8.7% 8.711% 1.44
MD 2 2.4% 5,843,489 2.6% 9.233% 1.38
MI 1 1.2% 3,912,349 1.7% 8.310% 1.30
MN 5 5.9% 8,747,663 3.9% 9.306% 1.34
MO 2 2.4% 3,881,401 1.7% 9.333% 1.40
MS 1 1.2% 995,014 0.4% 8.410% 1.25
NE 1 1.2% 2,800,000 1.3% 8.250% 1.27
NH 1 1.2% 722,490 0.3% 9.250% 1.38
NJ 2 2.4% 3,153,395 1.4% 9.023% 1.31
NM 2 2.4% 3,047,446 1.4% 9.225% 1.38
NY 5 5.9% 15,355,698 6.9% 8.813% 1.41
OH 2 2.4% 1,496,143 0.7% 8.902% 1.44
OK 4 4.7% 8,344,883 3.7% 8.413% 1.32
RI 1 1.2% 4,000,000 1.8% 8.420% 1.29
TN 2 2.4% 9,468,833 4.2% 8.661% 1.58
TX 14 16.5% 31,400,115 14.0% 8.431% 1.38
VA 2 2.4% 5,824,021 2.6% 8.555% 1.47
WA 1 1.2% 1,300,000 0.6% 8.690% 1.37
- ---------------------------------------------------------------------------------------------------------------------
30 STATES AND THE DISTRICT OF COLUMBIA
TOTAL / WTD AVG. . . .
85 100.0% 223,639,172 100.0% 8.799% 1.37
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and final prospectus
supplement (the Final Prospectus ) relating to the securities referred to herein
in making their investment decision. This Investor Preliminary Collateral Term
Sheet ( Collateral Term Sheet ) does not include all relevant information
relating to the securities described herein, particularly with respect to the
risks and special considerations associated with an investment in such
securities. All collateral information contained herein is preliminary and it is
anticipated that such information will change. Any information contained herein
will be more fully described in, and will be fully superseded by, the
descriptions of the collateral in the final prospectus supplement and Final
Prospectus. Although the information contained in this Collateral Term Sheet is
based on sources which Prudential Securities Incorporated (PSI) believes to be
reliable, PSI makes no representation or warranty that such information is
accurate or complete. Such information should not be viewed as projections,
forecasts, predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and fully review the
Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 8
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTICIATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE A -- COLLATERAL PROPERTIES
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
NET
LOAN YEAR YEAR RENTABLE CURRENT MOST RECENT
# PROPERTY NAME PROPERTY TYPE BUILT RENOVATED SQ. FT. UNITS OCCUP. RENT ROLL
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 Star Markets - Cambridge Retail 1953 1988 84,323 100.00% 10/1/95
2 Star Markets - Quincy Retail 1964 1995 102,764 100.00% 11/15/95
3 3307 M Street NW Commercial/Residential 1991 60,010 88.50% 11/1/95
4 Ceasar Figoni Properties Multifamily 1965 210,390 256 98.83% 10/18/95
5 2982 Grand Avenue Retail/Office 1995 36,493 96.12% 11/7/95
- ------------------------------------------------------------------------------------------------------------------------------------
6 Mountain Creek Manor Congregate Care 1986 109,463 143 95.80% 7/28/95
7 Gottschalks - Palmdale Retail 1990 117,952 100.00% 9/30/95
8 Garden Ridge Retail 1995 141,284 100.00% 9/1/95
9 Mack Park Apartments Multifamily 1986 198,456 226 94.69% 11/28/95
10 Park Villa Apartments Multifamily 1969 1994 228,450 259 96.53% 11/2/95
- ------------------------------------------------------------------------------------------------------------------------------------
11 Spruce Financial Center Office 1989 58,408 100.00% 8/31/95
12 Gottschalks - Yuba City Retail 1989 86,582 100.00% 7/15/95
13 Hydronautics Facility Industrial 1979 1995 155,200 100.00% 9/28/95
14 Gottschalks - Eureka Retail 1989 89,171 100.00% 7/15/95
15 BJ's Wholesale Club Retail 1984 105,180 100.00% 11/7/95
- ------------------------------------------------------------------------------------------------------------------------------------
16 Three Frank's Nursery & Crafts
Stores Retail 1971 59,647 100.00% 11/3/95
17 Stafford Plaza Shopping Center Retail 1974 96,109 96.56% 10/31/95
18 Riverdale Shopping Center Retail 1984 1994 148,664 99.37% 7/27/95
19 Lafourche Plaza Shopping Ctr Retail 1980 142,061 89.90% 11/1/95
20 The Bristol House Gracious
Retirement Living Congregate Care 1985 55,560 97 92.78% 9/30/95
- ------------------------------------------------------------------------------------------------------------------------------------
21 Westwood Center II Office/Retail 1983 54,700 100.00% 11/3/95
22 Corona Food 4 Less Retail 1989 52,924 100.00% 11/1/95
23 Kingswood Apartments Multifamily 1983 142,200 200 97.00% 11/20/95
24 Kash N' Karry Store # 725 Retail 1993 49,069 100.00% 7/31/95
25 Kash N' Karry Store # 733 Retail 1994 48,683 100.00% 7/31/95
- ------------------------------------------------------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720 Retail 1991 46,259 100.00% 7/31/95
27 Comfort Inn Hotel 1986 1994 43,100 122 64.02% 10/31/95
28 Rialto Food-4-Less Retail 1989 52,748 100.00% 11/1/95
29 Seaport Manor Congregate Care 1975 62,236 346 97.40% 10/31/95
30 Food 4 Less Supermarket Retail 1992 50,115 99.23% 10/1/95
- ------------------------------------------------------------------------------------------------------------------------------------
31 McPherron Properties Multifamily 1963 140,372 220 94.09% 11/9/95
32 Lost River Apartments Multifamily 1971 1990 110,480 128 99.22% 7/14/95
33 Leparc Apartments Multifamily 1972 1986 51,362 98 98.00% 8/1/95
34 Live Oaks Center Light Industrial 1975 1992 100,576 95.12% 10/25/95
35 Union Plaza Office Building Office 1896 1987 60,550 98.47% 11/1/95
- ------------------------------------------------------------------------------------------------------------------------------------
36 Santa Monica Plaza Retail 1984 1994 18,792 100.00% 9/30/95
37 Highland Square Shopping Center Retail 1987 43,120 100.00% 10/1/95
38 Meadowbrook Mobile Home Park Mobile Home Park 1974 388 66.24% 10/30/95
39 University Village Apartments Multifamily 1988 90,914 108 97.22% 8/31/95
40 Univax Building Office/Warehouse 1977 46,831 100.00% 11/21/95
- ------------------------------------------------------------------------------------------------------------------------------------
41 Parkway Place Light Industrial 1990 60,719 100.00% 11/1/95
42 Town Center Retail 1992 44,920 100.00% 9/15/95
43 Fairmount Centre Retail 1973 1990 60,500 88.10% 10/26/95
44 Mason Creek Center Retail 1984 50,050 94.40% 10/1/95
45 Andover Retail Retail 1960 1994 39,850 100.00% 9/30/95
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN" SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 9
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTICIATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE A -- COLLATERAL PROPERTIES
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
NET
LOAN YEAR YEAR RENTABLE CURRENT MOST RECENT
# PROPERTY NAME PROPERTY TYPE BUILT RENOVATED SQ. FT. UNITS OCCUP. RENT ROLL
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
46 Candelaria Industrial Light Industrial 1973 67,174 100.00% 11/6/95
47 Westridge Office Park Office 1988 38,519 100.00% 10/1/95
48 U-Store Mini Warehouse 1985 52,872 764 78.66% 11/6/95
49 CVS Plaza Retail 1990 28,000 100.00% 10/3/95
50 Chicago Financial Center Office 1990 25,865 100.00% 11/3/95
- ------------------------------------------------------------------------------------------------------------------------------------
51 Sunbelt Beverage Company Industrial 1959 1990 143,536 100.00% 11/1/95
52 Bering Village Shopping Center Retail 1982 35,429 95.72% 11/16/95
53 Stonecrest Apartments Multifamily 1971 1989 49,456 120 100.00% 7/14/95
54 Rowland Heights Auto Center Retail 1988 27,309 100.00% 11/7/95
55 Lakewood Apartments Multifamily 1973 1993 129,952 140 97.14% 9/22/95
- ------------------------------------------------------------------------------------------------------------------------------------
56 Walden Oaks Healthcare Center Nursing Home 1985 21,110 60 71.67% 6/30/95
57 Gerald Adams Properties Multifamily 1972 100,401 124 90.32% 10/12/95
58 Lightning Creek Shopping
Center & Apts Retail/Multifamily 1984 1990 82,419 99.00% 8/31/95
59 Macarthur Mills Office Park Office 1985 53,475 94.61% 10/1/95
60 Seagrass Cove Apartments Multifamily 1988 44,684 46 100.00% 7/31/95
- ------------------------------------------------------------------------------------------------------------------------------------
61 Wickes Furniture Retail 1977 1987 48,790 100.00% 10/12/95
62 815 South Main Street Light Industrial 1978 1994 67,678 100.00% 6/23/95
63 Holly Hills Apartments Multifamily 1975 1992 98,092 100 98.00% 11/6/95
64 Oak Creek Apartments Multifamily 1972 1991 66,295 91 96.70% 11/1/95
65 The Centers III Retail 1980 34,948 97.65% 10/26/95
- ------------------------------------------------------------------------------------------------------------------------------------
66 Loveland Plaza Mobile Home Park Mobile Home Park 1966 1995 113 97.27% 10/30/95
67 Mark VI Apartments Multifamily 1970 1995 127,908 144 98.61% 11/3/95
68 8435-8447 Canoga Avenue Light Industrial 1978 1994 64,518 100.00% 9/30/95
69 Ridgmar Manor Apartments Multifamily 1969 111,760 120 97.50% 10/4/95
70 Wellington Apartments Multifamily 1895 1984 59,480 58 100.00% 11/6/95
- ------------------------------------------------------------------------------------------------------------------------------------
71 National Self Storage - Alb-4 Mini Warehouse 1980 1993 40,622 505 80.40% 9/25/95
72 Doug's Storage Mini Warehouse 1974 106,635 1,079 64.97% 12/31/94
73 Abilene Village Shopping Center Retail 1983 29,223 100.00% 9/27/95
74 Stratford Manor Apartments Multifamily 1973 79,752 96 93.75% 10/19/95
75 Genesis Medical Center Office 1985 10,200 100.00% 11/13/95
- ------------------------------------------------------------------------------------------------------------------------------------
76 Witmer Industrial Estate Industrial 1988 36,461 98.74% 9/15/95
77 April Lane Commerce Park Office/Warehouse 1985 58,000 93.10% 10/31/95
78 Windfern Industrial Park Light Industrial 1986 60,000 100.00% 9/30/95
79 Hillsborough Office Building Office 1973 24,139 100.00% 11/7/95
80 Walgreens Plaza Retail 1955 1994 16,986 85.28% 10/1/95
- ------------------------------------------------------------------------------------------------------------------------------------
81 Greenhouse Apartments Multifamily 1977 36,432 37 100.00% 9/30/95
82 Maplewood Auto Mall Retail 1988 23,708 90.55% 9/30/95
83 Goffstown Village Apartments Multifamily 1972 67,009 84 98.81% 10/1/95
84 Chestnut Square Apartments Multifamily 1972 91,200 104 99.04% 9/1/95
85 Lyn Village Apartments Multifamily 1967 38,084 58 96.55% 10/1/95
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the final"
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 10
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE B -- PROPERTY LOCATIONS AND LTVS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PROP APPRAIS.
LOAN ERTY CUT-OFF DATE APPRAISED APPRAIS. APPRAIS. BALLOON BALLOON
# PROPERTY NAME PROPERTY CITY STATE BALANCE VALUE DATE LTV BALANCE LTV
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 Star Markets - Cambridge Cambridge MA $8,250,000 $12,200,000 11/15/95 67.62% $5,377,493 44.08%
2 Star Markets - Quincy Quincy MA $8,115,800 $15,600,000 11/15/95 52.02% $5,290,020 33.91%
3 3307 M Street NW Washington DC $7,400,000 $11,200,000 9/29/95 66.07% $0 0.00%
4 Ceasar Figoni Properties East Patchogue NY $6,737,984 $12,450,000 7/23/93 54.12% $5,230,738 42.01%
5 2982 Grand Avenue Coconut Grove FL $6,550,000 $9,500,000 9/5/95 68.95% $6,076,140 63.96%
- -----------------------------------------------------------------------------------------------------------------------------------
6 Mountain Creek Manor Chattanooga TN $6,493,254 $11,300,000 10/1/95 57.46% $5,741,367 50.81%
7 Gottschalks - Palmdale Palmdale CA $6,064,807 $8,840,000 9/14/95 68.61% $4,085,008 46.21%
8 Garden Ridge Mesquite TX $5,500,000 $9,150,000 10/5/95 60.11% $3,722,592 40.68%
9 Mack Park Apartments Denton TX $5,350,000 $7,300,000 10/19/95 73.29% $4,710,593 64.53%
10 Park Villa Apartments Tulsa OK $4,750,000 $6,700,000 6/5/95 70.90% $4,377,978 65.34%
- -----------------------------------------------------------------------------------------------------------------------------------
11 Spruce Financial Center Riverside CA $4,500,000 $6,200,000 10/13/95 72.58% $3,421,855 55.19%
12 Gottschalks - Yuba City Yuba City CA $4,462,500 $6,900,000 5/9/95 64.67% $3,005,759 43.56%
13 Hydronautics Facility Oceanside CA $4,390,017 $7,150,000 9/28/95 61.40% $0 0.00%
14 Gottschalks - Eureka Eureka CA $4,351,262 $6,700,000 5/8/95 64.94% $2,910,742 43.44%
15 BJ's Wholesale Club Johnson RI $4,000,000 $5,500,000 10/1/95 72.73% $1,402,271 25.50%
- -----------------------------------------------------------------------------------------------------------------------------------
16 Three Frank's Nursery &
Crafts Stores Various MI $3,912,349 $5,225,000 8/22/95 74.88% $2,727,296 52.20%
17 Stafford Plaza Shopping Center Houston TX $3,900,000 $5,350,000 10/5/95 72.90% $2,983,371 55.76%
18 Riverdale Shopping Center Little Rock AR $3,887,575 $7,000,000 3/25/95 55.54% $2,310,655 33.01%
19 Lafourche Plaza Shopping Ctr Thibodaux LA $3,750,000 $5,000,000 11/1/95 75.00% $2,370,633 47.41%
20 The Bristol House Gracious
Retirement Living Bristol VA $3,692,738 $5,100,000 9/1/95 72.41% $3,271,518 64.15%
- -----------------------------------------------------------------------------------------------------------------------------------
21 Westwood Center II Bethesda MD $3,593,489 $5,400,000 7/10/95 66.55% $2,974,501 55.08%
22 Corona Food 4 Less Corona CA $3,421,571 $4,880,000 7/25/95 70.11% $2,206,253 45.21%
23 Kingswood Apartments Denton TX $3,350,000 $4,835,000 10/19/95 69.29% $2,949,624 61.01%
24 Kash N' Karry Store # 725 Ocala FL $3,217,094 $4,300,000 7/31/95 74.82% $2,194,035 51.02%
25 Kash N' Karry Store # 733 Auburndale FL $3,187,168 $4,260,000 7/31/95 74.82% $2,173,626 51.02%
- -----------------------------------------------------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720 Gainesville FL $3,030,054 $4,050,000 7/31/95 74.82% $2,066,475 51.02%
27 Comfort Inn Kingsport TN $2,975,580 $4,400,000 4/27/95 67.63% $1,358,232 30.87%
28 Rialto Food-4-Less Rialto CA $2,937,407 $4,210,000 7/25/95 69.77% $1,922,155 45.66%
29 Seaport Manor * Brooklyn NY $2,888,661 $11,400,000 4/1/95 25.34% $0 0.00%
30 Food 4 Less Supermarket Lincoln NE $2,800,000 $3,735,000 10/27/95 74.97% $1,945,155 52.08%
- -----------------------------------------------------------------------------------------------------------------------------------
31 McPherron Properties St. Louis Area MO $2,795,102 $3,900,000 7/11/95 71.67% $2,324,099 59.59%
32 Lost River Apartments Bowling Green KY $2,789,889 $3,740,000 2/28/95 74.60% $1,522,821 40.72%
33 Leparc Apartments Staten Island NY $2,700,000 $3,600,000 6/20/95 75.00% $2,233,446 62.04%
34 Live Oaks Center Casselberry FL $2,695,213 $3,800,000 7/28/95 70.93% $2,082,955 54.81%
35 Union Plaza Office Building Minneapolis MN $2,593,679 $3,500,000 7/12/95 74.11% $1,763,353 50.38%
- -----------------------------------------------------------------------------------------------------------------------------------
36 Santa Monica Plaza Los Angeles CA $2,500,000 $3,840,000 9/14/95 65.10% $1,910,152 49.74%
37 Highland Square Shopping Center Minnetonka MN $2,395,946 $3,600,000 6/19/95 66.55% $1,866,807 51.86%
38 Meadowbrook Mobile Home Park Pueblo County CO $2,360,000 $4,600,000 8/29/95 51.30% $1,922,764 41.80%
39 University Village Apartments Kansas City KS $2,250,000 $2,800,000 10/10/95 80.36% $2,013,321 71.90%
40 Univax Building Rockville MD $2,250,000 $3,600,000 5/3/95 62.50% $0 0.00%
- -----------------------------------------------------------------------------------------------------------------------------------
41 Parkway Place Vadnais Heights MN $2,196,113 $3,050,000 7/21/95 72.00% $1,698,198 55.68%
42 Town Center Harrisonburg VA $2,131,284 $3,300,000 8/25/95 64.58% $1,773,327 53.74%
43 Fairmount Centre Geddes NY $2,129,889 $2,850,000 5/15/95 74.73% $1,771,787 62.17%
44 Mason Creek Center Katy TX $2,023,194 $2,800,000 8/18/95 72.26% $1,559,515 55.70%
45 Andover Retail Danvers MA $2,020,044 $3,250,000 5/16/95 62.16% $1,371,353 42.20%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Seaport Manor shows a total original loan amount of $5.915 million but has a
participation in this pool of only $2.915 million, with a computed prospectus
balance of $2,888,661.26. The PSSFC 1995-C1 contained the remainder of the
total loan amount.
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN OFFER
TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 11
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE B -- PROPERTY LOCATIONS AND LTVS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
PROP APPRAIS.
LOAN ERTY CUT-OFF DATE APPRAISED APPRAIS. APPRAIS. BALLOON BALLOON
# PROPERTY NAME PROPERTY CITY STATE BALANCE VALUE DATE LTV BALANCE LTV
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
46 Candelaria Industrial Albuquerque NM $1,900,000 $2,990,000 10/17/95 63.55% $1,155,032 38.63%
47 Westridge Office Park Avon IN $1,900,000 $2,950,000 10/3/95 64.41% $1,454,725 49.31%
48 U-Store Washington DC $1,900,000 $3,050,000 10/10/95 62.30% $823,910 27.01%
49 CVS Plaza West Deptford NJ $1,753,395 $2,575,000 8/17/95 68.09% $1,345,685 52.26%
50 Chicago Financial Center Riverside CA $1,700,000 $2,500,000 9/30/95 68.00% $1,303,130 52.13%
- -----------------------------------------------------------------------------------------------------------------------------------
51 Sunbelt Beverage Company Phoenix AZ $1,695,280 $2,950,000 9/19/95 57.47% $0 0.00%
52 Bering Village Shopping Center Anchorage AK $1,673,009 $2,240,000 8/21/95 74.69% $751,217 33.54%
53 Stonecrest Apartments Lafayette IN $1,669,020 $2,240,000 3/2/95 74.51% $914,177 40.81%
54 Rowland Heights Auto Center Rowland Heights CA $1,650,000 $2,570,000 10/10/95 64.20% $0 0.00%
55 Lakewood Apartments Norman OK $1,500,000 $2,195,000 10/13/95 68.34% $969,027 44.15%
- -----------------------------------------------------------------------------------------------------------------------------------
56 Walden Oaks Healthcare Center San Antonio TX $1,497,664 $2,500,000 9/1/95 59.91% $640,438 25.62%
57 Gerald Adams Properties New Orleans
Area LA $1,495,500 $1,994,000 10/19/95 75.00% $905,788 45.43%
58 Lightning Creek Shopping
Center & Apts Oklahoma City OK $1,446,522 $2,190,000 6/29/95 66.05% $986,303 45.04%
59 Macarthur Mills Office Park Carrollton TX $1,410,158 $2,400,000 7/6/95 58.76% $1,179,246 49.14%
60 Seagrass Cove Apartments Pleasantville NJ $1,400,000 $2,100,000 4/3/95 66.67% $1,161,655 55.32%
- -----------------------------------------------------------------------------------------------------------------------------------
61 Wickes Furniture Aurora IL $1,381,505 $1,950,000 5/1/95 70.85% $611,759 31.37%
62 815 South Main Street Grapevine TX $1,346,450 $2,300,000 7/15/95 58.54% $1,044,165 45.40%
63 Holly Hills Apartments Denton TX $1,325,000 $2,965,000 10/19/95 44.69% $0 0.00%
64 Oak Creek Apartments Austin TX $1,323,792 $2,000,000 9/19/95 66.19% $873,331 43.67%
65 The Centers III Lynnwood WA $1,300,000 $2,050,000 9/27/95 63.41% $992,098 48.40%
- -----------------------------------------------------------------------------------------------------------------------------------
66 Loveland Plaza Mobile Home Park Loveland CO $1,300,000 $2,075,000 8/30/95 62.65% $1,059,150 51.04%
67 Mark VI Apartments Houston TX $1,275,000 $2,200,000 8/17/95 57.95% $979,638 44.53%
68 8435-8447 Canoga Avenue Canoga Park CA $1,244,609 $2,475,000 7/19/95 50.29% $778,138 31.44%
69 Ridgmar Manor Apartments Fort Worth TX $1,198,856 $1,900,000 9/19/95 63.10% $782,496 41.18%
70 Wellington Apartments Leominster MA $1,150,000 $1,900,000 7/26/95 60.53% $949,309 49.96%
- -----------------------------------------------------------------------------------------------------------------------------------
71 National Self Storage - Alb-4 Albuquerque NM $1,147,446 $1,775,000 6/28/95 64.64% $524,656 29.56%
72 Doug's Storage Florissant MO $1,086,299 $2,900,000 3/8/95 37.46% $0 0.00%
73 Abilene Village Shopping Center Abilene TX $1,050,000 $1,485,000 10/4/95 70.71% $803,927 54.14%
74 Stratford Manor Apartments Jackson MS $995,014 $1,540,000 4/3/95 64.61% $815,921 52.98%
75 Genesis Medical Center Phoenix AZ $921,584 $1,260,000 5/19/95 73.14% $709,472 56.31%
- -----------------------------------------------------------------------------------------------------------------------------------
76 Witmer Industrial Estate Niagara NY $899,163 $1,200,000 9/13/95 74.93% $688,063 57.34%
77 April Lane Commerce Park Columbus OH $898,380 $1,500,000 9/12/95 59.89% $692,515 46.17%
78 Windfern Industrial Park Houston TX $850,000 $1,275,000 5/23/95 66.67% $558,485 43.80%
79 Hillsborough Office Building Roseville MN $825,000 $1,100,000 10/6/95 75.00% $535,145 48.65%
80 Walgreens Plaza Middletown CT $787,315 $1,070,000 3/29/95 73.58% $530,619 49.59%
- -----------------------------------------------------------------------------------------------------------------------------------
81 Greenhouse Apartments Grand Junction CO $748,008 $1,300,000 6/20/95 57.54% $579,097 44.55%
82 Maplewood Auto Mall Maplewood MN $736,924 $1,200,000 5/5/95 61.41% $465,338 38.78%
83 Goffstown Village Apartments Goffstown/
Franklin NH $722,490 $1,300,000 3/14/95 55.58% $637,297 49.02%
84 Chestnut Square Apartments Midwest City OK $648,360 $945,000 4/25/95 68.61% $542,662 57.42%
85 Lyn Village Apartments Reynoldsburg OH $597,762 $1,180,000 5/17/95 50.66% $459,387 38.93%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in
and will be superseded fully by, the descriptions of the collateral in the
final prospectus supplement and Final Prospectus. Although the information
contained in this Collateral Term Sheet is based on sources which Prudential
Securities Incorporated ("Prudential") believes to be reliable, Prudential
makes no representation or warranty that such information is accurate or
complete. Such information should not be viewed as projections, forecasts,
predictions or opinions with respect to value. Prior to making any investment
decision, a prospective investor should receive and review fully the Final
Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 12
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE C -- COLLATERAL DEBT SERVICE AND YTD OR TRAILING NOI
<TABLE>
<CAPTION>
UNDER- UNDER-
LOAN ANN DEBT UNDER-WRITTEN UNDER- WRITTEN CASH WRITTEN
# PROPERTY NAME SERVICE VALUE WRITTEN NOI FLOW DSCR
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 Star Markets - Cambridge $803,188 $12,174,749 $1,217,475 $1,210,640 1.51
2 Star Markets - Quincy $790,123 $10,378,033 $1,089,693 $1,074,558 1.36
3 3307 M Street NW $784,740 $10,473,763 $1,047,376 $ 985,789 1.26
4 Ceasar Figoni Properties $660,771 $ 9,604,555 $1,016,685 $1,016,685 1.54
5 2982 Grand Avenue $587,612 $ 8,738,219 $ 873,822 $ 848,699 1.44
- ------------------------------------------------------------------------------------------------------
6 Mountain Creek Manor $606,156 $ 9,198,052 $ 965,795 $ 965,795 1.59
7 Gottschalks - Palmdale $631,359 $ 9,080,988 $ 862,693 $ 832,831 1.32
8 Garden Ridge $632,637 $ 7,739,828 $ 773,984 $ 773,984 1.22
9 Mack Park Apartments $490,837 $ 7,163,636 $ 680,545 $ 680,545 1.39
10 Park Villa Apartments $436,166 $ 6,375,287 $ 573,776 $ 573,776 1.32
- ------------------------------------------------------------------------------------------------------
11 Spruce Financial Center $437,373 $ 6,170,904 $ 647,945 $ 572,471 1.31
12 Gottschalks - Yuba City $464,556 $ 6,883,187 $ 653,903 $ 631,448 1.36
13 Hydronautics Facility $480,593 $ 5,946,225 $ 624,354 $ 624,354 1.3
14 Gottschalks - Eureka $446,824 $ 6,744,641 $ 640,741 $ 618,716 1.38
15 BJ's Wholesale Club $414,132 $ 5,620,548 $ 533,952 $ 533,952 1.29
- ------------------------------------------------------------------------------------------------------
16 Three Frank's Nursery &
Crafts Stores $402,457 $ 5,225,000 $ 550,730 $ 550,730 1.37
17 Stafford Plaza Shopping Center $385,399 $ 5,166,141 $ 542,445 $ 502,838 1.3
18 Riverdale Shopping Center $409,679 $ 5,922,484 $ 651,473 $ 599,122 1.46
19 Lafourche Plaza Shopping Ctr $411,616 $ 5,020,233 $ 552,226 $ 504,730 1.23
20 The Bristol House Gracious
Retirement Living $348,260 $ 5,098,849 $ 535,379 $ 535,379 1.54
- ------------------------------------------------------------------------------------------------------
21 Westwood Center II $360,759 $ 4,825,162 $ 530,768 $ 492,756 1.37
22 Corona Food 4 Less $325,427 $ 4,643,446 $ 464,345 $ 464,345 1.43
23 Kingswood Apartments $307,346 $ 4,538,665 $ 431,173 $ 431,173 1.4
24 Kash N' Karry Store # 725 $340,006 $ 4,300,000 $ 408,161 $ 408,161 1.2
25 Kash N' Karry Store # 733 $336,843 $ 4,260,000 $ 404,951 $ 404,951 1.2
- ------------------------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720 $320,238 $ 4,050,000 $ 384,786 $ 384,786 1.2
27 Comfort Inn $345,740 $ 4,537,000 $ 539,140 $ 539,140 1.56
28 Rialto Food-4-Less $287,713 $ 3,993,894 $ 399,389 $ 399,389 1.39
29 Seaport Manor $669,666 $ 9,043,740 $ 904,374 $ 904,374 1.35
30 Food 4 Less Supermarket $286,294 $ 3,737,248 $ 364,382 $ 364,382 1.27
- ------------------------------------------------------------------------------------------------------
31 McPherron Properties $285,198 $ 3,864,620 $ 396,123 $ 396,123 1.39
32 Lost River Apartments $294,938 $ 3,754,553 $ 394,228 $ 394,228 1.34
33 Leparc Apartments $271,680 $ 3,577,072 $ 330,879 $ 330,879 1.22
34 Live Oaks Center $273,232 $ 3,706,768 $ 407,744 $ 358,100 1.31
35 Union Plaza Office Building $275,200 $ 3,467,390 $ 407,418 $ 349,692 1.27
- ------------------------------------------------------------------------------------------------------
36 Santa Monica Plaza $246,236 $ 3,344,208 $ 359,502 $ 339,725 1.38
37 Highland Square Shopping Center $248,628 $ 3,210,044 $ 353,105 $ 342,084 1.38
38 Meadowbrook Mobile Home Park $242,373 $ 3,471,262 $ 347,126 $ 347,126 1.43
39 University Village Apartments $224,737 $ 3,010,781 $ 270,970 $ 270,970 1.21
40 Univax Building $285,208 $ 3,370,950 $ 438,223 $ 402,805 1.41
- ------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
LOAN YTD 95 YTD 95
# PROPERTY NAME 1994 NOI 1994CF NOI CASH FLOW
- -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 Star Markets - Cambridge
2 Star Markets - Quincy
3 3307 M Street NW $ 526,366 $ 526,366
4 Ceasar Figoni Properties $1,216,479 $1,216,479 647,427 647,427
5 2982 Grand Avenue 94,976 94,976
- -------------------------------------------------------------------------------------
6 Mountain Creek Manor $ 917,238 $ 917,238 418,699 418,699
7 Gottschalks - Palmdale
8 Garden Ridge
9 Mack Park Apartments $ 699,785 $ 641,178 734,384 698,818
10 Park Villa Apartments 580,518 335,511
- -------------------------------------------------------------------------------------
11 Spruce Financial Center $ 655,201 $ 614,288 497,475 460,363
12 Gottschalks - Yuba City
13 Hydronautics Facility
14 Gottschalks - Eureka
15 BJ's Wholesale Club
- -------------------------------------------------------------------------------------
16 Three Frank's Nursery &
Crafts Stores
17 Stafford Plaza Shopping Center $ 544,023 $ 544,023 418,542 418,542
18 Riverdale Shopping Center $ 776,071 $ 773,263 447,484 364,783
19 Lafourche Plaza Shopping Ctr $ 590,546 $ 588,239 463,014 419,326
20 The Bristol House Gracious
Retirement Living $ 285,339 $ 284,339
- -------------------------------------------------------------------------------------
21 Westwood Center II $ 510,370 $ 462,845 557,507 509,937
22 Corona Food 4 Less $ 462,618 $ 462,618 378,208 376,310
23 Kingswood Apartments $ 427,964 $ 379,085 463,246 420,680
24 Kash N' Karry Store # 725
25 Kash N' Karry Store # 733
- -------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720
27 Comfort Inn $ 702,533 $ 702,533 498,791 498,791
28 Rialto Food-4-Less $ 411,531 $ 411,531 347,285 332,285
29 Seaport Manor $1,099,165 $1,099,165 581,791 581,791
30 Food 4 Less Supermarket $ 364,327 $ 364,327 364,120 364,120
- -------------------------------------------------------------------------------------
31 McPherron Properties $ 441,273 $ 441,273 362,609 362,609
32 Lost River Apartments $ 551,628 $ 551,628 405,972 405,972
33 Leparc Apartments $ 5,602 $ (73,398)
34 Live Oaks Center $ 419,257 $ 408,495 302,092 302,092
35 Union Plaza Office Building $ 492,427 $ 492,427 483,354 483,354
- -------------------------------------------------------------------------------------
36 Santa Monica Plaza $ 407,017 $ 407,017 291,496 280,866
37 Highland Square Shopping Center $ 369,621 $ 367,484 240,066 240,066
38 Meadowbrook Mobile Home Park $ 273,055 $ 273,055 138,191 138,191
39 University Village Apartments $ 221,738 $ 221,738 148,966 139,060
40 Univax Building $ 485,683 $ 387,593 377,397 286,405
- -------------------------------------------------------------------------------------
</TABLE>
* SEAPORT MANOR SHOWS A TOTAL ORIGINAL LOAN AMOUNT OF $5.915 MILLION BUT HAS A
PARTICIPATION IN THIS POOL OF ONLY $2.915 MILLION, WITH A COMPUTED PROSPECTUS
BALANCE OF $2,888,661.26. THE PSSFC 1995-C1 CONTAINED THE REMAINDER OF THE
TOTAL LOAN AMOUNT. Prospective investors are advised to read carefully, and
should rely solely on, the preliminary prospectus supplement, final prospectus
and prospectus supplement (the "Final Prospectus") relating to the securities
referred to herein in making their investment decision. This Preliminary
Collateral Term Sheet ("Collateral Term Sheet") does not include all relevant
information relating to the collateral described herein, particularly with
respect to the risks and special considerations associated therewith. All
collateral information herein is preliminary and it is anticipated that such
information may change. Any information contained herein will be more fully
described in and will be superseded fully by, the descriptions of the collateral
in the final prospectus supplement and Final Prospectus. Although the
information contained in this Collateral Term Sheet is based on sources which
Prudential Securities Incorporated ("Prudential") believes to be reliable,
Prudential makes no representation or warranty that such information is accurate
or complete. Such information should not be viewed as projections, forecasts,
predictions or opinions with respect to value. Prior to making any investment
decision, a prospective investor should receive and review fully the Final
Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 13
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE C -- COLLATERAL DEBT SERVICE AND YTD OR TRAILING NOI
<TABLE>
<CAPTION>
UNDER- UNDER-
LOAN ANN DEBT UNDER-WRITTEN UNDER- WRITTEN CASH WRITTEN
# PROPERTY NAME SERVICE VALUE WRITTEN NOI FLOW DSCR
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
41 Parkway Place $222,996 $2,973,027 $341,898 $294,584 1.32
42 Town Center $217,992 $2,960,018 $318,202 $293,231 1.35
43 Fairmount Centre $216,661 $2,854,114 $313,953 $291,768 1.35
44 Mason Creek Center $203,925 $2,798,624 $307,849 $283,838 1.39
45 Andover Retail $213,661 $2,926,024 $321,863 $290,931 1.36
- ------------------------------------------------------------------------------------------------------
46 Candelaria Industrial $201,050 $2,690,924 $296,002 $279,508 1.39
47 Westridge Office Park $188,224 $2,593,388 $285,273 $257,986 1.37
48 U-Store $205,284 $2,772,862 $305,015 $305,015 1.49
49 CVS Plaza $174,577 $2,352,519 $241,133 $227,519 1.30
50 Chicago Financial Center $168,966 $2,377,156 $255,544 $221,469 1.31
- ------------------------------------------------------------------------------------------------------
51 Sunbelt Beverage Company $200,289 $2,475,790 $247,579 $240,379 1.20
52 Bering Village Shopping Center $190,029 $2,589,717 $297,817 $266,796 1.40
53 Stonecrest Apartments $177,503 $2,235,050 $234,679 $234,679 1.32
54 Rowland Heights Auto Center $199,633 $2,396,466 $275,594 $263,778 1.32
55 Lakewood Apartments $143,367 $2,017,688 $201,769 $201,769 1.41
- ------------------------------------------------------------------------------------------------------
56 Walden Oaks Healthcare Center $158,379 $2,169,174 $238,609 $238,609 1.51
57 Gerald Adams Properties $157,105 $2,045,065 $214,732 $214,732 1.37
58 Lightning Creek Shopping Center
& Apts $154,449 $2,003,597 $214,385 $191,600 1.24
59 Macarthur Mills Office Park $146,235 $2,138,903 $235,279 $194,724 1.33
60 Seagrass Cove Apartments $143,760 $1,856,842 $189,397 $189,397 1.32
- ------------------------------------------------------------------------------------------------------
61 Wickes Furniture $152,996 $1,900,725 $228,087 $214,939 1.40
62 815 South Main Street $137,618 $2,254,873 $264,948 $253,295 1.84
63 Holly Hills Apartments $153,329 $2,821,855 $275,131 $275,131 1.79
64 Oak Creek Apartments $132,020 $1,771,582 $168,300 $168,300 1.27
65 The Centers III $127,619 $1,745,334 $200,713 $175,443 1.37
- ------------------------------------------------------------------------------------------------------
66 Loveland Plaza Mobile Home Park $133,510 $1,578,993 $157,899 $157,899 1.18
67 Mark VI Apartments $127,560 $1,702,823 $170,282 $170,282 1.33
68 8435-8447 Canoga Avenue $138,646 $1,856,971 $204,266 $188,734 1.36
69 Ridgmar Manor Apartments $116,925 $1,606,306 $152,599 $152,599 1.31
70 Wellington Apartments $114,866 $1,796,931 $188,678 $188,678 1.64
- ------------------------------------------------------------------------------------------------------
71 National Self Storage - Alb-4 $133,955 $1,654,325 $181,976 $181,976 1.36
72 Doug's Storage $140,478 $1,837,417 $202,116 $202,116 1.44
73 Abilene Village Shopping Center $104,018 $1,432,916 $164,785 $137,927 1.33
74 Stratford Manor Apartments $95,901 $1,355,028 $125,340 $125,340 1.31
75 Genesis Medical Center $92,089 $1,366,057 $136,606 $127,730 1.39
- ------------------------------------------------------------------------------------------------------
76 Witmer Industrial Estate $88,791 $1,266,394 $132,971 $118,162 1.33
77 April Lane Commerce Park $90,411 $1,339,853 $140,685 $122,917 1.36
78 Windfern Industrial Park $84,136 $1,220,404 $134,244 $115,352 1.37
79 Hillsborough Office Building $79,517 $1,258,587 $138,445 $118,526 1.49
80 Walgreens Plaza $81,906 $1,059,062 $105,906 $104,352 1.27
- ------------------------------------------------------------------------------------------------------
81 Greenhouse Apartments $76,083 $1,019,732 $101,973 $101,973 1.34
82 Maplewood Auto Mall $83,762 $1,130,305 $124,334 $114,081 1.36
83 Goffstown Village Apartments $74,505 $979,822 $102,881 $102,881 1.38
84 Chestnut Square Apartments $67,607 $885,416 $92,969 $92,969 1.38
85 Lyn Village Apartments $59,439 $882,392 $92,651 $92,651 1.56
- ------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
LOAN YTD 95 YTD 95
# PROPERTY NAME 1994 NOI 1994CF NOI CASH FLOW
- ------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
41 Parkway Place $339,424 $339,424 94,914 94,914
42 Town Center $206,723 $206,723 334,196 334,196
43 Fairmount Centre $348,420 $345,262 244,721 233,244
44 Mason Creek Center $351,532 $351,532 144,224 102,228
45 Andover Retail $59,047 $25,283 127,149 127,149
- ------------------------------------------------------------------------------------
46 Candelaria Industrial $324,740 $312,117 336,305 326,435
47 Westridge Office Park $326,651 $326,651 208,832 170,832
48 U-Store $272,882 $272,882 257,318 257,318
49 CVS Plaza $220,025 $191,906 282,216 258,242
50 Chicago Financial Center $371,545 $350,220 234,681 165,671
- ------------------------------------------------------------------------------------
51 Sunbelt Beverage Company
52 Bering Village Shopping Center $341,815 $321,299 221,082 202,168
53 Stonecrest Apartments $369,919 $369,919 205,127 205,127
54 Rowland Heights Auto Center $289,272 $289,272 245,553 245,553
55 Lakewood Apartments $270,283 $197,157 258,054 232,442
- ------------------------------------------------------------------------------------
56 Walden Oaks Healthcare Center $223,216 $223,216 114,966 114,966
57 Gerald Adams Properties $194,705 $184,096 119,483 119,483
58 Lightning Creek Shopping Center
& Apts $269,666 $258,025 182,894 109,901
59 Macarthur Mills Office Park $262,453 $257,008 193,073 184,171
60 Seagrass Cove Apartments 66,928 66,928
- ------------------------------------------------------------------------------------
61 Wickes Furniture $206,712 $206,712 155,034 155,034
62 815 South Main Street $165,452 $165,452 71,636 71,636
63 Holly Hills Apartments $280,198 $197,665 298,049 224,361
64 Oak Creek Apartments $153,379 $127,538 233,772 231,607
65 The Centers III $226,299 $224,503 159,114 154,884
- ------------------------------------------------------------------------------------
66 Loveland Plaza Mobile Home Park $169,600 $169,600 85,454 85,454
67 Mark VI Apartments $260,683 $241,317 140,358 121,714
68 8435-8447 Canoga Avenue $190,340 $130,954 183,805 146,922
69 Ridgmar Manor Apartments $150,411 $150,411 187,885 187,885
70 Wellington Apartments $203,713 $197,463 160,621 119,370
- ------------------------------------------------------------------------------------
71 National Self Storage - Alb-4 $191,843 $191,843 129,236 129,236
72 Doug's Storage $230,452 $230,452 145,437 145,437
73 Abilene Village Shopping Center $179,109 $179,109 176,329 176,329
74 Stratford Manor Apartments $121,122 $121,122 142,809 101,997
75 Genesis Medical Center $110,607 $110,607
- ------------------------------------------------------------------------------------
76 Witmer Industrial Estate $138,040 $138,040 135,570 135,570
77 April Lane Commerce Park $137,683 $133,761 111,596 111,596
78 Windfern Industrial Park $137,068 $130,518 113,313 102,727
79 Hillsborough Office Building 141,612 131,714
80 Walgreens Plaza
- ------------------------------------------------------------------------------------
81 Greenhouse Apartments $120,615 $120,615 69,588 61,703
82 Maplewood Auto Mall $110,138 $109,018 60,090 60,090
83 Goffstown Village Apartments $151,695 $136,613 103,228 33,376
84 Chestnut Square Apartments $89,645 $89,645 51,731 30,238
85 Lyn Village Apartments $79,677 $79,677 66,853 66,853
- ------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in
and will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 14
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE C -- COLLATERAL DEBT SERVICE AND YTD OR TRAILING NOI
<TABLE>
<CAPTION>
YTD 95 Adjust 95
Loan Annual. YTD Annual. YTD NOI Adjusted Ann Annual'd
# NOI CF Mths YTD NOI Cash Flow Financial Comments
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 Star Markets lease represents 90% of total rent. Property
was recently acquired from owner/occupant. Therefore, no
historical financial statements are available.
2 Star Markets rent is 82% of total. Recently acquired from
owner occupant. No hist F/S available. Star Markets is
obligated under a 25 year bond lease for entire property.
Osco Drugs subleases 18,104 SF until 9/30/2004.
3 Mixed use office, retail, and residential; 1995 leases to
Georgetown U. and Mattress Discount account for dramatic CF
increase over 1994.
4 $1,294,854 $1,294,854 6 $1,294,854 $1,294,854
5 $1,139,712 $1,139,712 1 $1,139,712 $1,139,712 Occupancy was stabilized at 99% with $385,000 escrow
reserve for new tenant. Actual physical occupancy 90%.
Signed lease in place for vacant space, move in Jan 1,
1996.
- ------------------------------------------------------------------------------------------------------------------------------------
6 $1,004,878 $1,004,878 5 $1,004,877 $1,004,878
7 Property is owner occupied.
8 Single tenant. Newly constructed, commenced occupancy
9/1/95.
9 $734,384 $698,818 12 $734,384 $698,818
10 $580,518 $335,511 12 $580,518 $335,511 YTD cash flow reflects capital improvements.
- ------------------------------------------------------------------------------------------------------------------------------------
11 $746,213 $690,545 8 $746,213 $690,545 Grubb & Ellis will vacate 11.82% on 12/31/95. Homan and
Lobb will absorb 6.39%.
12 Property is owner occupied.
13 NNN leased, guaranteed by Nitto Denko (rated Baa by
Moodys). Leased commercial 9/1/95, so no recent historical
financials.
14 Property is owner occupied.
15 NNN Leased. Occupied by BJ's Wholesale Club. Lease
guaranteed by TJX Corp (S&P "BBB" credit.) Appraiser and
ULLICO estimate market rents at $2/SF higher than in place
rent.
- ------------------------------------------------------------------------------------------------------------------------------------
16 Owner occupied. Midland deviated from normal procedures
and relied on third party appraisals for value.
17 $502,250 $502,250 10 $534,233 $534,434 NOI & CF incr'd after adjust. for taxes ($10,210), insur.
($3,185), rep. & maint. ($3,832), & common area maint.
($14,756) expenses that had been annualized.
18 $671,226 $547,175 8 $695,506 $612,805 NOI & CF incr'd after a $24,280 adjust. for annualized
taxes. CF also incr'd after $41,351 adjust. for 1-time loan
fees that had been annualized.
19 $617,352 $559,101 9 $617,352 $559,101
20 Property purchased at foreclosure sale. 1994 financials
from previous borrower. Underwritten at stabilized
projections. Borrower guarantee of loan until stabilized
NOI achieved. Crossed with 940902237 for combined DSCR of
1.11.
- ------------------------------------------------------------------------------------------------------------------------------------
21 $557,507 $509,937 12 $557,507 $509,937
22 $504,277 $501,747 9 $504,277 $501,747
23 $463,246 $420,680 12 $463,246 $420,680
24 Single tenant property recently acquired by borrower from
tenant, therefore no historical financial statements are
available.
25 Single tenant property recently acquired by borrower from
tenants therefore no historical financial statements are
available.
- ------------------------------------------------------------------------------------------------------------------------------------
26 Single tenant property recently acquired by borrower from
tenant, therefore no historical financial statements are
available.
27 $598,549 $598,549 10 $598,549 $598,549
28 $463,047 $443,047 9 $463,047 $443,047
29 $1,163,582 $1,163,582 6 $1,163,582 $1,163,582 Note this is a $5,915,000 loan with $3,000,000
participation in Pool #1 and $2,915,000 in Pool #2.
30 $364,120 $364,120 12 $364,120 $364,120
- ------------------------------------------------------------------------------------------------------------------------------------
31 $435,131 $435,131 10 $435,131 $435,131
32 $541,296 $541,296 9 $541,296 $541,296
33 Property was in lease up during 1994. Was 20% occupied,
now 96% occupied.
34 $402,789 $402,789 9 $402,789 $402,789
35 $483,354 $483,354 12 $483,354 $483,354
- ------------------------------------------------------------------------------------------------------------------------------------
36 $388,661 $374,488 9 $388,661 $374,488
37 $360,099 $360,099 8 $360,099 $360,099
38 $276,383 $276,383 6 $276,383 $276,383 Borrower restructured rents 8/1/95 with no loss in tenancy.
39 $297,932 $278,120 6 $297,932 $278,120 All excess cash flow went to the lender for the property
and was accounted for as an expense. CF incr'd after a
$279,210 adjust. for 1-time cap ex. No change to NOI.
40 $566,096 $429,608 8 $566,096 $429,608 NNN leased to Univax to 12/31/2003. Univax has $77/SF
invested in T.I.'s.
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Seaport Manor shows a total original loan amount of $5.915 million but has a
participation in this pool of only $2.915 million, with a computed prospectus
balance of $2,888,661.26. The PSSFC 1995-C1 contained the remainder of the
total loan amount. Prospective investors are advised to read carefully, and
should rely solely on, the preliminary prospectus supplement, final prospectus
and prospectus supplement (the "Final Prospectus") relating to the securities
referred to herein in making their investment decision. This Preliminary
Collateral Term Sheet ("Collateral Term Sheet") does not include all relevant
information relating to the collateral described herein, particularly with
respect to the risks and special considerations associated therewith. All
collateral information herein is preliminary and it is anticipated that such
information may change. Any information contained herein will be more fully
described in and will be superseded fully by, the descriptions of the collateral
in the final prospectus supplement and Final Prospectus. Although the
information contained in this Collateral Term Sheet is based on sources which
Prudential Securities Incorporated ("Prudential") believes to be reliable,
Prudential makes no representation or warranty that such information is accurate
or complete. Such information should not be viewed as projections, forecasts,
predictions or opinions with respect to value. Prior to making any investment
decision, a prospective investor should receive and review fully the Final
Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 15
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE C -- COLLATERAL DEBT SERVICE AND YTD OR TRAILING NOI
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
YTD 95 ADJUST 95
LOAN ANNUAL. YTD ANNUAL. YTD NOI ADJUSTED ANN ANNUAL'D FINANCIAL COMMENTS
# NOI CF MTHS YTD NOI CASH FLOW
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
41 $379,656 $379,656 3 $379,656 $379,656
42 $334,196 $334,196 12 $334,196 $334,196
43 $326,295 $310,992 9 $326,295 $310,992 Holdback of $77,500 until the property generates gross income of
$29,772/month for 6 months at a rental rate of at least $5.80/SF.
44 $346,138 $245,347 5 $346,138 $304,142 Annualized YTD cash flow reflects capital expenditures and
attorneys fees of $41,996 in first 5 months. CF incr'd after
$21,356 adjust. for 1-time cap ex & $37,439 adjust. for 1-time
legal fees that had been annualized. No change to NOI.
- ------------------------------------------------------------------------------------------------------------------------------------
45 $254,298 $254,298 6 $254,298 $254,298 Limited historical data as the property was purchased mid 94 and
rehabbed with occupancy going from 26% to 100% since acquisition.
46 $336,305 $326,435 12 $336,305 $326,435
47 $278,443 $227,776 9 $288,942 $288,942 NOI & CF incr'd after $10,500 adjust. for software costs incurred
for conversion to a new accounting system. CF incr'd further after
$50,667 adjust. for 1-time loan costs.
48 $308,782 $308,782 10 $308,782 $308,782
49 $338,659 $309,890 10 $338,659 $309,890
50 $352,022 $248,507 8 $352,022 $331,342
- ------------------------------------------------------------------------------------------------------------------------------------
51 NNN leased to 8th largest distributor of wines and spirits in the
U.S. No current or historical financials available in files. MCF
stabilized Occ at 95% due to substantially below market rent.
Appraisal also estimated occupancy at 95%.
52 $331,623 $303,252 8 $331,623 $323,381
53 $410,254 $410,254 6 $410,254 $410,254
54 $327,404 $327,404 9 $327,404 $327,404
55 $258,054 $232,442 12 $258,054 $232,442 CF incr'd after $31,615 adjust. for 1-time cap ex (including new
vinyl siding in '93 & '94) that had been annualized.
- ------------------------------------------------------------------------------------------------------------------------------------
56 $275,918 $275,918 5 $275,918 $275,918 Crossed with 940902237 for combined DSCR of 1.11.
57 $238,966 $238,966 6 $238,966 $238,966 Some units out of service in 1994 due to repairs.
58 $274,341 $164,852 8 $274,341 $201,348 Capital expend. shows $72,993 non-recurring for conversion of
retail space to multifamily. CF incr'd after $36,496 adjust for
1-time cap ex that had been ann'd. No NOI change.
59 $257,431 $245,561 9 $257,431 $245,561
60 $160,627 $160,627 5 $160,627 $160,627 Recently completed project, just reaching stabilization.
Underwriter does not include value of undeveloped land valued by
appraisal at $300,000.
- ------------------------------------------------------------------------------------------------------------------------------------
61 $206,712 $206,712 9 $206,712 $206,712 YTD 95 NOI does not reflect increased rent begining 6/1/95.
62 $171,926 $171,926 5 New lease effective 9/1/95 with rent of $5.44 per sq. ft. YTD '95
based upon company performance.
63 $298,049 $224,361 12 $298,050 $224,361 Extensive renovation work in 94 including $82,532 for landscaping,
carpeting, parking lot.
64 $233,772 $231,607 12 $233,772 $231,607 1994 NOI includes $29,301 paid for 1993 taxes.
65 $318,228 $309,768 6 $318,228 $309,768
- ------------------------------------------------------------------------------------------------------------------------------------
66 $170,907 $170,907 6 $170,907 $170,907
67 $240,614 $208,653 7 $240,614 $208,653
68 $245,073 $195,896 9 $245,073 $195,896 Spent $59,386 in 1994 on leasing commissions and tenant
improvements for all three tenants.
69 $187,885 $187,885 12 $187,885 $187,885
70 $214,161 $159,160 9 $214,161 $214,161 CF incr'd after a $7,500 adjust. for leasing commissions and a
$47,501 adjust. for 1-time capital repairs. No change to NOI.
- ------------------------------------------------------------------------------------------------------------------------------------
71 $172,315 $172,315 9 $172,315 $172,315
72 $218,156 $218,156 8 $218,156 $218,156 General Ledger sheets as of 8/31/95
73 $176,329 $176,329 12 $176,329 $176,329
74 $142,809 $101,997 12 $142,809 $101,997 YTD cash flow $40,438 in refinancing costs.
75 MCF underwritten cash flow utilizes average effective rent over the
term of the lease. Single tenant building with a new 10 year lease
that started 6/95 and expires 5/05.
- ------------------------------------------------------------------------------------------------------------------------------------
76 $135,570 $135,570 12 $135,570 $135,570
77 $133,915 $133,915 10 $133,915 $133,915
78 $151,084 $136,969 9 $151,084 $136,969
79 $169,934 $158,057 10 $169,934 $158,057 Borrower purchased property 6/1/94 therefore no full year '94 NOI
and cash flow are available.
80 Accumulating $35,000 over 5 years for retaining wall plus
$500/month over the term for capital repairs. Single tenant net
lease. No historical statements.
- ------------------------------------------------------------------------------------------------------------------------------------
81 $104,382 $ 92,555 8 $104,382 $ 92,555 Annualized YTD cash flow includes $11,827 for legal and closing
costs due to actual expenditures of $7,885 for first 8 months.
82 $103,011 $103,011 7 $115,011 $115,011 NOI & CF incr'd after a $12,000 adjustment for excess management
fees.
83 $137,637 $ 44,501 9 $137,637 $ 44,501 YTD NOI is net of full year taxes. YTD CF is net of $57,856 in
non-recurring costs for ust tank pull, legal fees, points, + other
loan closing costs.
84 $ 88,681 $ 51,837 7 $ 88,681 $ 67,189 $21,493 for drapes, carpet, paving and appliances in 1995. CF
incr'd after $15,352 adjust. for these 1-time cap expenditures that
had been annualized. No change to NOI.
85 $ 89,137 $ 89,137 9 $107,005 $107,005 1994 CF reflects $21,623 in capital improvements. 1995 CF incr'd
after $17,868 adjust. for 1-time cap ex that had been included in
repairs & maint.
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in
and will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 16
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE D -- MORTGAGE LOAN TERMS
<TABLE>
<CAPTION>
ORIGINAL
LOAN PROPERTY NAME ORIGINAL CUT-OFF DATE INTEREST AMORT TERM MAT. REMAIN. REMAIN. BALLOON
# BALANCE BALANCE RATE TERM TO MAT. DATE AMORT. TERM BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 Star Markets - Cambridge $8,250,000 $8,250,000 8.590% 300 180 1/1/11 300 180 $5,377,493
2 Star Markets - Quincy $8,115,800 $8,115,800 8.590% 300 180 1/1/11 300 180 $5,290,020
3 3307 M Street NW $7,400,000 $7,400,000 8.750% 240 240 11/1/15 239 239 $0
4 Ceasar Figoni Properties $6,925,070 $6,737,984 8.350% 300 144 11/1/05 275 119 $5,230,738
5 2982 Grand Avenue $6,550,000 $6,550,000 8.510% 420 120 12/1/05 420 120 $6,076,140
- ------------------------------------------------------------------------------------------------------------------------------------
6 Mountain Creek Manor $6,500,000 $6,493,254 8.080% 300 84 11/1/02 299 83 $5,741,367
7 Gottschalks - Palmdale $6,075,000 $6,064,807 9.390% 300 180 10/1/10 298 178 $4,085,008
8 Garden Ridge $5,500,000 $5,500,000 8.050% 180 84 1/1/03 180 84 $3,722,592
9 Mack Park Apartments $5,350,000 $5,350,000 7.890% 300 84 12/1/02 300 84 $4,710,593
10 Park Villa Apartments $4,750,000 $4,750,000 7.900% 300 60 11/1/00 300 60 $4,377,978
- ------------------------------------------------------------------------------------------------------------------------------------
11 Spruce Financial Center $4,500,000 $4,500,000 8.570% 300 144 1/1/08 300 144 $3,421,855
12 Gottschalks - Yuba City $4,470,000 $4,462,500 9.390% 300 180 10/1/10 298 178 $3,005,759
13 Hydronautics Facility $4,400,000 $4,390,017 8.200% 204 204 11/1/12 203 203 $0
14 Gottschalks - Eureka $4,355,000 $4,351,262 9.230% 300 180 11/1/10 299 179 $2,910,742
15 BJ's Wholesale Club $4,000,000 $4,000,000 8.420% 240 192 11/1/11 240 192 $1,402,271
- ------------------------------------------------------------------------------------------------------------------------------------
16 Three Frank's Nursery &
Crafts Stores $3,918,750 $3,912,349 8.310% 240 120 11/1/05 239 119 $2,727,296
17 Stafford Plaza Shopping
Center $3,900,000 $3,900,000 8.770% 300 144 12/1/07 300 144 $2,983,371
18 Riverdale Shopping Center $3,900,000 $3,887,575 9.240% 276 180 9/1/10 273 177 $2,310,655
19 Lafourche Plaza Shopping Ctr $3,750,000 $3,750,000 8.650% 216 120 12/1/05 216 120 $2,370,633
20 The Bristol House Gracious
Retirement Living $3,696,500 $3,692,738 8.200% 300 84 11/1/02 299 83 $3,271,518
- ------------------------------------------------------------------------------------------------------------------------------------
21 Westwood Center II $3,600,000 $3,593,489 8.940% 300 120 10/1/05 298 118 $2,974,501
22 Corona Food 4 Less $3,425,000 $3,421,571 8.300% 300 180 11/1/10 299 179 $2,206,253
23 Kingswood Apartments $3,350,000 $3,350,000 7.890% 300 84 12/1/02 300 84 $2,949,624
24 Kash N' Karry Store # 725 $3,225,000 $3,217,094 9.570% 300 179 8/1/10 297 176 $2,194,035
25 Kash N' Karry Store # 733 $3,195,000 $3,187,168 9.570% 300 179 8/1/10 297 176 $2,173,626
- ------------------------------------------------------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720 $3,037,500 $3,030,054 9.570% 300 179 8/1/10 297 176 $2,066,475
27 Comfort Inn $3,000,000 $2,975,580 9.930% 240 180 6/1/10 234 174 $1,358,232
28 Rialto Food-4-Less $2,943,000 $2,937,407 8.640% 300 180 10/1/10 298 178 $1,922,155
29 Seaport Manor * $5,915,000 $2,888,661 9.550% 234 234 12/1/14 228 228 $0
30 Food 4 Less Supermarket $2,800,000 $2,800,000 8.250% 240 120 12/1/05 240 120 $1,945,155
- ------------------------------------------------------------------------------------------------------------------------------------
31 McPherron Properties $2,800,000 $2,795,102 9.140% 300 120 10/1/05 298 118 $2,324,099
32 Lost River Apartments $2,800,000 $2,789,889 9.100% 264 180 9/1/10 261 177 $1,522,821
33 Leparc Apartments $2,700,000 $2,700,000 8.990% 300 120 12/1/05 300 120 $2,233,446
34 Live Oaks Center $2,700,000 $2,695,213 9.060% 300 144 10/1/07 298 142 $2,082,955
35 Union Plaza Office Building $2,600,000 $2,593,679 9.620% 300 180 9/1/10 297 177 $1,763,353
- ------------------------------------------------------------------------------------------------------------------------------------
36 Santa Monica Plaza $2,500,000 $2,500,000 8.730% 300 144 12/1/07 300 144 $1,910,152
37 Highland Square Shopping
Center $2,400,000 $2,395,946 9.350% 300 144 9/6/07 298 142 $1,866,807
38 Meadowbrook Mobile Home Park $2,360,000 $2,360,000 8.310% 240 84 12/1/02 240 84 $1,922,764
39 University Village
Apartments $2,250,000 $2,250,000 8.900% 300 84 11/1/02 300 84 $2,013,321
40 Univax Building $2,250,000 $2,250,000 9.700% 180 180 11/1/10 179 179 $0
- ------------------------------------------------------------------------------------------------------------------------------------
41 Parkway Place $2,200,000 $2,196,113 9.080% 300 144 10/1/07 298 142 $1,698,198
42 Town Center $2,135,000 $2,131,284 9.170% 300 120 10/1/05 298 118 $1,773,327
43 Fairmount Centre $2,137,500 $2,129,889 9.080% 300 120 8/1/05 296 116 $1,771,787
44 Mason Creek Center $2,025,000 $2,023,194 9.000% 300 144 11/1/07 299 143 $1,559,515
45 Andover Retail $2,025,000 $2,020,044 9.580% 300 180 9/1/10 297 177 $1,371,353
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Seaport Manor shows a total original loan amount of $5.915 million but has a
participation in this pool of only $2.915 million, with a computed prospectus
balance of $2,888,661.26. The PSSFC 1995-C1 contained the remainder of the total
loan amount.
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 17
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE D -- MORTGAGE LOAN TERMS
<TABLE>
<CAPTION>
ORIGINAL
LOAN PROPERTY NAME ORIGINAL CUT-OFF DATE INTEREST AMORT TERM MAT. REMAIN. REMAIN. BALLOON
# BALANCE BALANCE RATE TERM TO MAT. DATE AMORT. TERM BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
46 Candelaria Industrial $1,900,000 $1,900,000 8.720% 240 144 12/1/07 240 144 $1,155,032
47 Westridge Office Park $1,900,000 $1,900,000 8.800% 300 144 12/1/07 300 144 $1,454,725
48 U-Store $1,900,000 $1,900,000 9.010% 240 180 12/1/10 240 180 $823,910
49 CVS Plaza $1,755,000 $1,753,395 8.850% 300 144 11/1/07 299 143 $1,345,685
50 Chicago Financial Center $1,700,000 $1,700,000 8.840% 300 144 12/1/07 300 144 $1,303,130
- ------------------------------------------------------------------------------------------------------------------------------------
51 Sunbelt Beverage Company $1,700,000 $1,695,280 8.450% 180 180 11/1/10 179 179 $0
52 Bering Village Shopping
Center $1,680,000 $1,673,009 9.660% 240 180 9/1/10 236 177 $751,217
53 Stonecrest Apartments $1,675,000 $1,669,020 9.180% 264 180 9/1/10 261 177 $914,177
54 Rowland Heights Auto Center $1,650,000 $1,650,000 9.390% 192 192 12/1/11 192 192 $0
55 Lakewood Apartments $1,500,000 $1,500,000 8.370% 300 180 12/1/10 300 180 $969,027
- ------------------------------------------------------------------------------------------------------------------------------------
56 Walden Oaks Healthcare Center $1,500,000 $1,497,664 8.690% 240 180 11/1/10 239 179 $640,438
57 Gerald Adams Properties $1,495,500 $1,495,500 8.620% 240 144 12/1/07 240 144 $905,788
58 Lightning Creek Shopping
Center & Apts $1,450,000 $1,446,522 9.700% 300 180 9/1/10 297 177 $986,303
59 Macarthur Mills Office Park $1,415,000 $1,410,158 9.320% 300 120 8/1/05 296 116 $1,179,246
60 Seagrass Cove Apartments $1,400,000 $1,400,000 9.240% 300 121 9/1/05 296 117 $1,161,655
- ------------------------------------------------------------------------------------------------------------------------------------
61 Wickes Furniture $1,400,000 $1,381,505 9.170% 240 180 7/1/10 235 175 $611,759
62 815 South Main Street $1,350,000 $1,346,450 9.150% 300 144 9/1/07 297 141 $1,044,165
63 Holly Hills Apartments $1,325,000 $1,325,000 8.150% 180 180 12/1/10 180 180 $0
64 Oak Creek Apartments $1,325,000 $1,323,792 8.870% 300 180 11/1/10 299 179 $873,331
65 The Centers III $1,300,000 $1,300,000 8.690% 300 144 12/1/07 300 144 $992,098
- ------------------------------------------------------------------------------------------------------------------------------------
66 Loveland Plaza Mobile Home
Park $1,300,000 $1,300,000 8.310% 240 84 12/1/02 240 84 $1,059,150
67 Mark VI Apartments $1,275,000 $1,275,000 8.920% 300 144 12/1/07 300 144 $979,638
68 8435-8447 Canoga Avenue $1,250,000 $1,244,609 9.380% 240 144 9/1/07 237 141 $778,138
69 Ridgmar Manor Apartments $1,200,000 $1,198,856 8.600% 300 180 11/1/10 299 179 $782,496
70 Wellington Apartments $1,150,000 $1,150,000 8.900% 300 120 12/1/05 300 120 $949,309
- ------------------------------------------------------------------------------------------------------------------------------------
71 National Self Storage - Alb-4 $1,152,000 $1,147,446 10.060% 240 180 9/1/10 237 177 $524,656
72 Doug's Storage $1,100,000 $1,086,299 9.830% 180 180 7/1/10 175 175 $0
73 Abilene Village Shopping
Center $1,050,000 $1,050,000 8.800% 300 144 12/1/07 300 144 $803,927
74 Stratford Manor Apartments $1,000,000 $995,014 8.410% 300 120 7/1/05 295 115 $815,921
75 Genesis Medical Center $925,000 $921,584 8.860% 300 144 8/1/07 296 140 $709,472
- ------------------------------------------------------------------------------------------------------------------------------------
76 Witmer Industrial Estate $900,000 $899,163 8.750% 300 144 11/1/07 299 143 $688,063
77 April Lane Commerce Park $900,000 $898,380 8.970% 300 144 10/1/07 298 142 $692,515
78 Windfern Industrial Park $850,000 $850,000 8.790% 300 180 12/1/10 300 180 $558,485
79 Hillsborough Office Building $825,000 $825,000 8.470% 300 180 12/1/10 300 180 $535,145
80 Walgreens Plaza $790,000 $787,315 9.360% 300 180 8/1/10 296 176 $530,619
- ------------------------------------------------------------------------------------------------------------------------------------
81 Greenhouse Apartments $750,000 $748,008 9.090% 300 144 9/1/07 297 141 $579,097
82 Maplewood Auto Mall $740,000 $736,924 9.670% 240 144 9/1/07 237 141 $465,338
83 Goffstown Village Apartments $725,000 $722,490 9.250% 300 96 8/1/03 300 92 $637,297
84 Chestnut Square Apartments $650,000 $648,360 9.400% 300 120 9/1/05 297 117 $542,662
85 Lyn Village Apartments $600,000 $597,762 8.800% 300 144 8/1/07 296 140 $459,387
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 18
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE E -- PREPAYMENT PREMIUM
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
YIELD PREPAYMENT PENALTY PERIOD
CUT-OFF DATE LOCKOUT MAINTENANCE PENALTY DURING FOLLOWING YM
LOAN # PROPERTY NAME BALANCE PERIOD PERIOD YM (IN YEARS) % PENALTY AFTER YM
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 Star Markets - Cambridge $8,250,000 0 10 5.00% 4 5%,4%,3%,2%
2 Star Markets - Quincy $8,115,800 0 10 5.00% 4 5%,4%,3%,2%
3 3307 M Street NW $7,400,000 5 14.75 1.00% 0 0
4 Ceasar Figoni Properties $6,737,984 3 8 1.00% 0 0
5 2982 Grand Avenue $6,550,000 0 3 5.00% 5 5%,4%,3%,2%,1%
- ----------------------------------------------------------------------------------------------------------------------------------
6 Mountain Creek Manor $6,493,254 0 6 5.00% 0 0
7 Gottschalks - Palmdale $6,064,807 0 10 5.00% 0 0
8 Garden Ridge $5,500,000 0 5 5.00% 0 0
9 Mack Park Apartments $5,350,000 0 5 5.00% 1 5
10 Park Villa Apartments $4,750,000 0 4 5.00% 0.5 1
- ----------------------------------------------------------------------------------------------------------------------------------
11 Spruce Financial Center $4,500,000 0 8 5.00% 3 3%,2%,1%
12 Gottschalks - Yuba City $4,462,500 0 10 5.00% 0 0
13 Hydronautics Facility $4,390,017 4 13 1.50% 0 0
14 Gottschalks - Eureka $4,351,262 0 10 5.00% 0 0
15 BJ's Wholesale Club $4,000,000 5 10.75 2.00% 0
- ----------------------------------------------------------------------------------------------------------------------------------
16 Three Frank's Nursery & Crafts
Stores $3,912,349 0 9.5 1.00% 0 0
17 Stafford Plaza Shopping Center $3,900,000 0 4 5.00% 5 5%,4%,3%,2%,1%
18 Riverdale Shopping Center $3,887,575 0 10 5.00% 4.5 5%,4%,3%,2%,1%
19 Lafourche Plaza Shopping Ctr $3,750,000 0 3 5.00% 5 5%,4%,3%,2%,1%
20 The Bristol House Gracious
Retirement Living $3,692,738 0 6 5.00% 0 0
- ----------------------------------------------------------------------------------------------------------------------------------
21 Westwood Center II $3,593,489 0 3 5.00% 5 5%,4%,3%,2%,1%
22 Corona Food 4 Less $3,421,571 0 10 5.00% 0 0
23 Kingswood Apartments $3,350,000 0 5 5.00% 1 5%
24 Kash N' Karry Store # 725 $3,217,094 0 10 5.00% 4.5 5%,4%,3%,2%,1%
25 Kash N' Karry Store # 733 $3,187,168 0 10 5.00% 4.5 5%,4%,3%,2%,1%
- ----------------------------------------------------------------------------------------------------------------------------------
26 Kash N' Karry Store # 720 $3,030,054 0 10 5.00% 4.5 5%,4%,3%,2%,1%
27 Comfort Inn $2,975,580 0 0 0.00% 5 5%,4%,3%,2%,1%
28 Rialto Food-4-Less $2,937,407 0 10 5.00% 0 0
29 Seaport Manor $2,888,661 0 10 5.00% 5 5%,4%,3%,2%,1%
30 Food 4 Less Supermarket $2,800,000 0 3 5.00% 5 5%,4%,3%,2%,1%
- ----------------------------------------------------------------------------------------------------------------------------------
31 McPherron Properties $2,795,102 0 3 5.00% 5 5%,4%,3%,2%,1%
32 Lost River Apartments $2,789,889 0 5 5.00% 5 5%,4%,3%,2%,1%
33 Leparc Apartments $2,700,000 0 5 1.00% 4.75 5%,4%,3%,2%,1%
34 Live Oaks Center $2,695,213 0 4 5.00% 5 5%,4%,3%,2%,1%
35 Union Plaza Office Building $2,593,679 0 5 5.00% 5 5%,4%,3%,2%,1%
- ----------------------------------------------------------------------------------------------------------------------------------
36 Santa Monica Plaza $2,500,000 0 12 0.00% 0 0
37 Highland Square Shopping Center $2,395,946 0 4 5.00% 5 5%,4%,3%,2%,1%
38 Meadowbrook Mobile Home Park $2,360,000 0 2 5.00% 0 0
39 University Village Apartments $2,250,000 0 6 5.00% 0 0
40 Univax Building $2,250,000 5 10 2.00% 0
- ----------------------------------------------------------------------------------------------------------------------------------
41 Parkway Place $2,196,113 0 4 5.00% 5 5%,4%,3%,2%,1%
42 Town Center $2,131,284 0 5 5.00% 4 4%,3%,2%,1%
43 Fairmount Centre $2,129,889 0 3 5.00% 5 5%,4%,3%,2%,1%
44 Mason Creek Center $2,023,194 0 4 5.00% 5 5%,4%,3%,2%,1%
45 Andover Retail $2,020,044 0 5 5.00% 5 5%,4%,3%,2%,1%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Seaport Manor shows a total original loan amount of $5.915 million
but has a participation in this pool of only $2.915 million, with a
computed prospectus balance of $2,888,661.26. The PSSFC95 - C1
contained the remainder of the total loan amount.
Prospective investors are advised to read carefully, and should rely
solely on, the preliminary prospectus supplement, final prospectus and
prospectus supplement (the "Final Prospectus") relating to the
securities referred to herein in making their investment decision. This
Preliminary Collateral Term Sheet ("Collateral Term Sheet") does not
include all relevant information relating to the collateral described
herein, particularly with respect to the risks and special
considerations associated therewith. All collateral information herein
is preliminary and it is anticipated that such information may change.
Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the
final prospectus supplement and Final Prospectus. Although the
information contained in this Collateral Term Sheet is based on sources
which Prudential Securities Incorporated ("Prudential") believes to be
reliable, Prudential makes no representation or warranty that such
information is accurate or complete. Such information should not be
viewed as projections, forecasts, predictions or opinions with respect
to value. Prior to making any investment decision, a prospective
investor should receive and review fully the Final Prospectus. NOTHING
HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 19
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/1995
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE E -- PREPAYMENT PREMIUM
<TABLE>
<CAPTION>
YIELD PREPAYMENT PENALTY PERIOD
CUT-OFF DATE LOCKOUT MAINTENANCE PENALTY DURING FOLLOWING YM
LOAN # PROPERTY NAME BALANCE PERIOD PERIOD YM (IN YEARS) % PENALTY AFTER YM
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
46 Candelaria Industrial $1,900,000 0 5 5.00% 5 5%,4%,3%,2%,1%
47 Westridge Office Park $1,900,000 0 10 5.00% 0 0
48 U-Store $1,900,000 0 5 5.00% 5 5%,4%,3%,2%,1%
49 CVS Plaza $1,753,395 0 4 5.00% 5 5%,4%,3%,2%,1%
50 Chicago Financial Center $1,700,000 0 4 5.00% 5 5%,4%,3%,2%,1%
51 Sunbelt Beverage Company $1,695,280 4 11 1.50% 0
52 Bering Village Shopping Center $1,673,009 0 5 5.00% 5 5%,4%,3%,2%,1%
53 Stonecrest Apartments $1,669,020 0 5 5.00% 5 5%,4%,3%,2%,1%
54 Rowland Heights Auto Center $1,650,000 0 5 5.00% 5 5%,4%,3%,2%,1%
55 Lakewood Apartments $1,500,000 0 7 5.00% 4 5%,4%,3%,2%
56 Walden Oaks Healthcare Center $1,497,664 0 10 5.00% 0 0
57 Gerald Adams Properties $1,495,500 0 4 5.00% 5 5%,4%,3%,2%,1%
58 Lightning Creek Shopping
Center & Apts $1,446,522 0 5 5.00% 5 5%,4%,3%,2%,1%
59 Macarthur Mills Office Park $1,410,158 0 3 5.00% 5 5%,4%,3%,2%,1%
60 Seagrass Cove Apartments $1,400,000 0 5 1.00% 4.333 5%(last 4 months
of year 2000),
4%,3%,2%,1%
61 Wickes Furniture $1,381,505 0 5 5.00% 5 5%,4%,3%,2%,1%
62 815 South Main Street $1,346,450 0 4 5.00% 5 5%,4%,3%,2%,1%
63 Holly Hills Apartments $1,325,000 0 7 5.00% 7 5%,5%,5%,4%,3%,2%,1%
64 Oak Creek Apartments $1,323,792 0 8 5.00% 5 5%,4%,3%,2%,1%
65 The Centers III $1,300,000 0 4 5.00% 5 5%,4%,3%,2%,1%
66 Loveland Plaza Mobile Home Park $1,300,000 0 2 5.00% 0 0
67 Mark VI Apartments $1,275,000 0 4 5.00% 6 332211
68 8435-8447 Canoga Avenue $1,244,609 0 4 5.00% 5 5%,4%,3%,2%,1%
69 Ridgmar Manor Apartments $1,198,856 0 10 5.00% 0 0
70 Wellington Apartments $1,150,000 0 3 5.00% 5 5%,4%,3%,2%,1%
71 National Self Storage - Alb-4 $1,147,446 0 5 5.00% 5 5%,4%,3%,2%,1%
72 Doug's Storage $1,086,299 0 5 5.00% 5 5%,4%,3%,2%,1%
73 Abilene Village Shopping Center $1,050,000 0 4 5.00% 5 5%,4%,3%,2%,1%
74 Stratford Manor Apartments $ 995,014 0 3 5.00% 5 5%,4%,3%,2%,1%
75 Genesis Medical Center $ 921,584 0 4 5.00% 5 5%,4%,3%,2%,1%
76 Witmer Industrial Estate $ 899,163 0 4 5.00% 5 5%,4%,3%,2%,1%
77 April Lane Commerce Park $ 898,380 0 4 5.00% 5 5%,4%,3%,2%,1%
78 Windfern Industrial Park $ 850,000 0 5 5.00% 4 5432
79 Hillsborough Office Building $ 825,000 0 7 5.00% 5 5%,4%,3%,2%,1%
80 Walgreens Plaza $ 787,315 0 5 5.00% 5 5%,4%,3%,2%,1%
81 Greenhouse Apartments $ 748,008 0 4 5.00% 5 5%,4%,3%,2%,1%
82 Maplewood Auto Mall $ 736,924 0 4 5.00% 5 5%,4%,3%,2%,1%
83 Goffstown Village Apartments $ 722,490 0 6 1.00% 1 1
84 Chestnut Square Apartments $ 648,360 0 3 5.00% 5 5%,4%,3%,2%,1%
85 Lyn Village Apartments $ 597,762 0 4 5.00% 5 5%,4%,3%,2%,1%
</TABLE>
Prospective investors are advised to read carefully, and should rely
solely on, the preliminary prospectus supplement, final prospectus and
prospectus supplement (the "Final Prospectus") relating to the
securities referred to herein in making their investment decision. This
Preliminary Collateral Term Sheet ("Collateral Term Sheet") does not
include all relevant information relating to the collateral described
herein, particularly with respect to the risks and special
considerations associated therewith. All collateral information herein
is preliminary and it is anticipated that such information may change.
Any information contained herein will be more fully described in and
will be superseded fully by, the descriptions of the collateral in the
final prospectus supplement and Final Prospectus. Although the
information contained in this Collateral Term Sheet is based on sources
which Prudential Securities Incorporated ("Prudential") believes to be
reliable, Prudential makes no representation or warranty that such
information is accurate or complete. Such information should not be
viewed as projections, forecasts, predictions or opinions with respect
to value. Prior to making any investment decision, a prospective
investor should receive and review fully the Final Prospectus. NOTHING
HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 20
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
PRELIMINARY COLLATERAL TERM SHEET
TABLE F -- RETAIL SUBCATEGORIES
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
CUT-OFF DATE
LOAN # PROPERTY NAME RETAIL SUB CATEGORIES BALANCE
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1 Star Markets-Cambridge Food (Neighborhood *) $8,250,000
2 Star Markets-Quincy Food (Community) $8,115,800
3 3307 M Street Office/Retail/Multifamily $7,400,000
5 2982 Grand Avenue Apparel/Entertainment $6,550,000
7 Gottschalk's - Antelope Valley Mall, Palmdale Department (Anchor - super-
regional mall *) $6,064,807
8 Garden Ridge Specialty (Stand-alone adjacent
to a super-regional mall) $5,500,000
12 Gottschalks - The Mall at Yuba City Department (Anchor -
regional mall) $4,462,500
14 Gottschalk's - Bayshore Mall, Eureka Department (Anchor -
regional mall *) $4,351,262
15 BJ's Wholesale Club General merchandise
(Stand-alone *) $4,000,000
16 3 Frank's Nursery & Crafts Stores Garden (mostly stand-alone) $3,912,349
17 Stafford Plaza Shopping Center Community $3,900,000
18 Riverdale Shopping Center Community * $3,887,575
19 Lafourche Plaza Shopping Ctr Food (Community - anchored *) $3,750,000
21 Westwood Center II Retail/Office $3,593,489
22 Corona Food 4 Less Food (Community - anchored *) $3,421,571
24 Kash N' Karry Store # 725 Food (Neighborhood - anchored *) $3,217,094
25 Kash N' Karry Store # 733 Food (Stand-alone *) $3,187,168
26 Kash N' Karry Store # 720 Food (Community - anchored *) $3,030,054
28 Rialto Food-4-Less Food (stand-alone building, part
of anchored Community*) $2,937,407
30 Food 4 Less Supermarket Food (Stand-alone *) $2,800,000
36 Santa Monica Plaza Neighborhood $2,500,000
37 Highland Square Shopping Center Community $2,395,946
42 Town Center Community $2,131,284
43 Fairmount Centre Neighborhood $2,129,889
44 Mason Creek Center Neighborhood * $2,023,194
45 Andover Retail Apparel/Furniture $2,020,044
49 CVS Plaza Drug/Neighborhood $1,753,395
52 Bering Village Shopping Center Neighborhood $1,673,009
54 Rowland Heights Auto Center Automotive $1,650,000
58 Lightning Creek Shopping Center & Apts Multifamily/Retail $1,446,522
61 Wickes Furniture Furniture (Stand-alone *) $1,381,505
73 Abilene Village Shopping Center Neighborhood $1,050,000
80 Walgreens Plaza Drug (Stand-alone *) $787,315
82 Maplewood Auto Mall Automotive $736,924
---------------------------------------------------------------------------------------------------------
</TABLE>
* Retail category as listed in NRB Shopping Center Directory,
36th Edition 1996.
<TABLE>
<CAPTION>
------------------------------------------------------------------------------
TYPE OF RETAIL % OF CUT-OFF DATE BALANCE
------------------------------------------------------------------------------
<S> <C>
Auto 1.07%
Community 5.51%
Neighborhood 4.19%
Department Store 6.65%
Drug 1.14%
Food 17.31%
Apparel/Home & Garden/Entertainment 6.20%
Mixed - office/multifamily/retail 5.56%
Specialty 2.46%
General Merchandise 1.79%
------------------------------------------------------------------------------
</TABLE>
Prospective investors are advised to read carefully, and should rely solely
on, the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described
in and will be superseded fully by, the descriptions of the collateral in the
final prospectus supplement and Final Prospectus. Although the information
contained in this Collateral Term Sheet is based on sources which Prudential
Securities Incorporated ("Prudential") believes to be reliable, Prudential
makes no representation or warranty that such information is accurate or
complete. Such information should not be viewed as projections, forecasts,
predictions or opinions with respect to value. Prior to making any
investment decision, a prospective investor should receive and review fully
the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL
OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
<PAGE> 21
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DATED: 12/10/95
MIDLAND COMMERCIAL FINANCING CORP. (SELLER)
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1995-MCF2
INVESTOR PRELIMINARY COMPUTATIONAL MATERIALS
TABLE H -- LOANS WITH 7- AND 5-YEAR BALLOONS
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
COMPUTED APPRAISED
LOAN PROSPECTUS BALLOON APPRAISED BALLOON ORIGINAL
# PROPERTY NAME BALANCE BALANCE PROPERTY TYPE LTV LTV MATURITY
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
6 Mountain Creek Manor $6,493,254 $5,741,367 Congregate Care 57.46% 50.81% 84
8 Garden Ridge $5,500,000 $3,722,592 Retail 60.11% 40.68% 84
9 Mack Park Apartments $5,350,000 $4,710,593 Multifamily 73.29% 64.53% 84
20 The Bristol House Gracious Retirement Living $3,692,738 $3,271,518 Congregate Care 72.41% 64.15% 84
- -------------------------------------------------------------------------------------------------------------------------------
23 Kingswood Apartments $3,350,000 $2,949,624 Multifamily 69.29% 61.01% 84
38 Meadowbrook Mobile Home Park $2,360,000 $1,922,764 Mobile Home Park 51.30% 41.80% 84
39 University Village Apartments $2,250,000 $2,013,321 Multifamily 80.36% 71.90% 84
66 Loveland Plaza Mobile Home Park $1,300,000 $1,059,150 Mobile Home Park 62.65% 51.04% 84
10 Park Villa Apartments $4,750,000 $4,377,978 Multifamily 70.90% 65.34% 60
- -------------------------------------------------------------------------------------------------------------------------------
$35,045,991
</TABLE>
Prospective investors are advised to read carefully, and should rely solely on,
the preliminary prospectus supplement, final prospectus and prospectus
supplement (the "Final Prospectus") relating to the securities referred to
herein in making their investment decision. This Preliminary Collateral Term
Sheet ("Collateral Term Sheet") does not include all relevant information
relating to the collateral described herein, particularly with respect to the
risks and special considerations associated therewith. All collateral
information herein is preliminary and it is anticipated that such information
may change. Any information contained herein will be more fully described in
and will be superseded fully by, the descriptions of the collateral in the final
prospectus supplement and Final Prospectus. Although the information contained
in this Collateral Term Sheet is based on sources which Prudential Securities
Incorporated ("Prudential") believes to be reliable, Prudential makes no
representation or warranty that such information is accurate or complete. Such
information should not be viewed as projections, forecasts, predictions or
opinions with respect to value. Prior to making any investment decision, a
prospective investor should receive and review fully the Final Prospectus.
NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO SELL OR SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES.
PRUDENTIAL SECURITIES INCORPORATED
