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Previous: CITIFUNDS PREMIUM U S TREASURY RESERVES, NSAR-B/A, 1998-10-22 |
Next: FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC, 8-K, 1998-10-22 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
and Exchange Act of 1934
Date of Report: 01/18/98
(Date of earliest event reported)
First Union Commercial Mortgage Securities, Inc.
(Exact name of registrant as specified in governing instruments)
North Carolina
(State or other Jurisdiction of Incorporation)
c/o State Street Bank and Trust Company
Corporate Trust Department
Two International Place, 5th Floor
Boston, MA 02110
(Address of Principal Executive Offices) (Zip Code)
(704) 374-6828
(Registrant's telephone number, including area code)
Commission File Number 33-97994
56-1643598 (I.R.S. Employer Identification No.)
Not Applicable
(Former name, former address and former fiscal year if changed
since last report)
<PAGE>
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
FORM 8-K
INDEX
ITEM DESCRIPTION PAGE NUMBER
Item 5. Other Event 3
Item 7. Financial Statements and
Exhibits 3
Signatures 3
Exhibit A Trustee's Report to
Bondholders 4
<PAGE>
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
FORM 8-K
ITEMS AND SIGNATURES
ITEMS
Item 5. Other Events
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
Item 7. Financial Statements and Exhibits
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934,
the registrar has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
(Registrant)
Date: 01/18/98
By:
Name: David Shepherd
Title: Assistant Secretary
State Street Bank and Trust Company
as Trustee
<PAGE>
[LOGO]
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
REPORT TO CERTIFICATEHOLDERS FOR PAYMENT DATE: JANUARY 18, 1998
PAYMENT SUMMARY
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------
Pass-Through Interest Original Beginning
Class CUSIP Rate Type Balance Balance
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 33736LAA3 7.150000% Fixed $200,000,000.00 $192,641,162.87
A-2 33736LAB1 7.300000% Fixed $318,000,000.00 $318,000,000.00
A-3 33736LAC9 7.380000% Fixed $395,812,000.00 $395,812,000.00
B 33736LAE5 7.430000% Fixed $78,327,000.00 $78,327,000.00
C 33736LAF2 7.440000% Fixed $71,800,000.00 $71,800,000.00
D 33736LAG0 7.500000% Fixed $71,800,000.00 $71,800,000.00
E 33736LAH8 7.750000% Fixed $19,582,000.00 $19,582,000.00
F 33736LAJ4 7.000000% Fixed $71,800,000.00 $71,800,000.00
G 33736LAK1 7.000000% Fixed $13,054,813.00 $13,054,813.00
H 33736LAL9 7.000000% Fixed $26,108,964.00 $26,108,964.00
J 33736LAM7 7.000000% Fixed $13,054,483.00 $13,054,483.00
K 33736LAN5 7.000000% Fixed $26,108,964.00 $26,108,964.00
IO* 33736LAD7 1.306469% Variable $1,305,448,224.00 $1,298,089,386.87
R N/A N/A $0.00 $0.00
Totals: $1,305,448,224.00 $1,298,089,386.87
- ---------------------------------------------------------------------------------------------------
<CAPTION>
- ---------------------------------------------------------------------------------------------------
Principal Class Interest Total P&I Ending
Class Distrib. Amount Distribution Amt Payable Balance
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 $1,062,541.98 $1,147,820.26 $2,210,362.24 $191,578,620.89
A-2 $0.00 $1,934,500.00 $1,934,500.00 $318,000,000.00
A-3 $0.00 $2,434,243.80 $2,434,243.80 $395,812,000.00
B $0.00 $484,974.68 $484,974.68 $78,327,000.00
C $0.00 $445,160.00 $445,160.00 $71,800,000.00
D $0.00 $448,750.00 $448,750.00 $71,800,000.00
E $0.00 $126,467.08 $126,467.08 $19,582,000.00
F $0.00 $418,833.33 $418,833.33 $71,800,000.00
G $0.00 $76,153.08 $76,153.08 $13,054,813.00
H $0.00 $152,302.29 $152,302.29 $26,108,964.00
J $0.00 $76,151.15 $76,151.15 $13,054,483.00
K $0.00 $150,014.95 $150,014.95 $26,108,964.00
IO* $0.00 $1,413,261.29 $1,413,261.29 $1,297,026,844.89
R $0.00 $0.00 $0.00 $0.00
$1,062,541.98 $9,308,631.91 $10,371,173.89 $1,297,026,844.89
- ---------------------------------------------------------------------------------------------------
</TABLE>
DISTRIBUTIONS PER CERTIFICATE * Based on a National Balance
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------
Beginning Principal Interest Ending
Class Certificate Factor Distribution(1) Distribution(1) Certificate Factor
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 0.96320581 5.3127099 5.7391013 0.9578931
A-2 1.00000000 0.0000000 6.0833333 1.0000000
A-3 1.00000000 0.0000000 6.1500000 1.0000000
B 1.00000000 0.0000000 6.1916667 1.0000000
C 1.00000000 0.0000000 6.2000000 1.0000000
D 1.00000000 0.0000000 6.2500000 1.0000000
E 1.00000000 0.0000000 6.4583333 1.0000000
F 1.00000000 0.0000000 5.8333333 1.0000000
G 1.00000000 0.0000000 5.8333333 1.0000000
H 1.00000000 0.0000000 5.8333333 1.0000000
J 1.00000000 0.0000000 5.8333333 1.0000000
K 1.00000000 0.0000000 5.7457260 1.0000000
IO* 0.99436298 0.0000000 1.0825870 0.9935491
R 0.00000000 0.0000000 0.0000000 0.0000000
(1) represents net payment per certificate
- ---------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------
For additional information or with questions, please contact:
- --------------------------------------------------------------
STATE STREET CORPORATE TRUST
- --------------------------------------------------------------
Bond Analyst: Christopher M. Moore (617)664-5424
Account Officer: Dave Shepherd (617)664-5473
Corporate Trust Web Address: corporatetrust.statestreet.com
StreetFax: (617)664-5600
Street Connection: (factor and rate by cusip) (617)664-5500
- --------------------------------------------------------------
DISCLAIMER NOTICE: This report has been prepared by or based on information
furnished to State Street Bank and Trust Company ("State Street") by one or
more third parties (e.g.,Servicer, Master Servicer, etc.).State Street shall
not have and does not undertake responsibility for the accuracy or completeness
of information provided by such third parties, and makes no representations or
warranties with respect to the accuracy or completeness thereof or the
sufficiency thereof for any particular purpose. State Street has not
independently verified information received from third parties, and shall have
no liability for any inaccuracies therein or caused thereby.
<PAGE>
[LOGO]
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
REPORT TO CERTIFICATEHOLDERS FOR PAYMENT DATE: JANUARY 18, 1998
PAYMENT DETAILS
PRINCIPAL DETAIL
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Principal Realized Appraisal Reimbrs Add Trust Ending
Class Balance Distribution Losses Reduction Amts Exp/Realzd Losses Balance
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $192,641,162.87 $1,062,541.98 $0.00 $0.00 $0.00 $191,578,620.89
A-2 $318,000,000.00 $0.00 $0.00 $0.00 $0.00 $318,000,000.00
A-3 $395,812,000.00 $0.00 $0.00 $0.00 $0.00 $395,812,000.00
B $78,327,000.00 $0.00 $0.00 $0.00 $0.00 $78,327,000.00
C $71,800,000.00 $0.00 $0.00 $0.00 $0.00 $71,800,000.00
D $71,800,000.00 $0.00 $0.00 $0.00 $0.00 $71,800,000.00
E $19,582,000.00 $0.00 $0.00 $0.00 $0.00 $19,582,000.00
F $71,800,000.00 $0.00 $0.00 $0.00 $0.00 $71,800,000.00
G $13,054,813.00 $0.00 $0.00 $0.00 $0.00 $13,054,813.00
H $26,108,964.00 $0.00 $0.00 $0.00 $0.00 $26,108,964.00
J $13,054,483.00 $0.00 $0.00 $0.00 $0.00 $13,054,483.00
K $26,108,964.00 $0.00 $0.00 $0.00 $0.00 $26,108,964.00
IO * $1,298,089,386.87 $0.00 $0.00 $0.00 $0.00 $1,297,026,844.89
R $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
- ------------------------------------------------------------------------------------------------------------------------------------
$1,298,089,386.87 $1,062,541.98 $0.00 $0.00 $0.00 $1,297,026,844.89
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
- ----------------------------------------------------------------------------------------------------
Accrued Excess Prepayment Distributable Current Unpaid
Class Certificate Interest Interest Shortfalls Certificate Interest Interest
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 $1,147,820.26 $0.00 $1,147,820.26 $0.00
A-2 $1,934,500.00 $0.00 $1,934,500.00 $0.00
A-3 $2,434,243.80 $0.00 $2,434,243.80 $0.00
B $484,974.68 $0.00 $484,974.68 $0.00
C $445,160.00 $0.00 $445,160.00 $0.00
D $448,750.00 $0.00 $448,750.00 $0.00
E $126,467.08 $0.00 $126,467.08 $0.00
F $418,833.33 $0.00 $418,833.33 $0.00
G $76,153.08 $0.00 $76,153.08 $0.00
H $152,302.29 $0.00 $152,302.29 $0.00
J $76,151.15 $0.00 $76,151.15 $0.00
K $152,302.29 $0.00 $152,302.29 ($2,287.34)
IO * $1,413,261.29 $0.00 $1,413,261.29 $0.00
R $0.00 $0.00 $0.00 $0.00
- ----------------------------------------------------------------------------------------------------
Totals: $9,310,919.25 $0.00 $9,310,919.25 ($2,287.34)
-----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------
Payment to Class Interest Prepymt Prems/ Ending Balance
Unpaid Interest Dist Amount YMC Unpaid Interest
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 $0.00 $1,147,820.26 $0.00 $0.00
A-2 $0.00 $1,934,500.00 $0.00 $0.00
A-3 $0.00 $2,434,243.80 $0.00 $0.00
B $0.00 $484,974.68 $0.00 $0.00
C $0.00 $445,160.00 $0.00 $0.00
D $0.00 $448,750.00 $0.00 $0.00
E $0.00 $126,467.08 $0.00 $0.00
F $0.00 $418,833.33 $0.00 $0.00
G $0.00 $76,153.08 $0.00 $0.00
H $0.00 $152,302.29 $0.00 $0.00
J $0.00 $76,151.15 $0.00 $0.00
K $0.00 $150,014.95 $0.00 ($6,885.48)
IO * $0.00 $1,413,261.29 $0.00 $0.00
R $0.00 $0.00 $0.00 $0.00
- ----------------------------------------------------------------------------------------------------
Totals: $0.00 $9,308,631.91 $0.00 ($6,885.48)
-----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
[LOGO]
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
REPORT TO CERTIFICATEHOLDERS FOR PAYMENT DATE: JANUARY 18, 1998
<TABLE>
<CAPTION>
ADDITIONAL REPORTING INFORMATION
MORTGAGE LOAN ACTIVITY FOR RELATED PAYMENT DATE:
- ------------------------------------------------------------------------------------------------------------------------------------
# of Mortgage Weighted Average Re- Weighted Average Beginning Agg Stated Ending Agg Stated Ending Unpaid
Loans Outs maining Term to Maturity Mortgage Rate Principal Balance Principal Balance Principal Balance
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
280 122 8.44538% $ 1,298,089,752.21 $ 1,297,027,210.23 $1,297,183,742.62
- ------------------------------------------------------------------------------------------------------------------------------------
Available Current Current Additional Principal
Distribution Amt Realized Losses Trust Fund Exp # of Payoffs Prepayments
- ------------------------------------------------------------------------------------------------------------------------------------
$ 10,371,173.89 $0.00 $0.00 0 $0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
P&I ADVANCE & FEE INFORMATION:
- --------------------------------------------
Advances:
<S> <C>
- Current P&I $ 1,625,470.36
- Outstanding P&I $ 1,670,355.63
- Servicing $ 0.00
- Nonrecoverable P&I $ 0.00
Interest on:
- P&I Advances $ 2,289.61
- Servicing Advances $ 0.00
Servicing Compensation:
- to Master Servicer $ 43,477.52
- to Special Servicer $ 43,477.52
- --------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
APPRAISAL REDUCTION INFORMATION:
- -------------------------------------------------------------------------------------------------------------------------------
Loan # SPB of Apr Red Loan All Unpd Int & Fees Appraised Value P&I Advance on Loan
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
N/A $0.00 $0.00 $0.00 $0.00
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE DELINQUENCY INFORMATION FOR RELATED PAYMENT DATE:
-------------------------------------------------------------------------------------------------------
One Month Two Months 3 Months + Foreclosures
-------------------------------------------------------------------------------------------------------
# of Loans 1 0 0 0
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Agg Prin Balance $ 5,370,211.42 $0.00 $0.00 $0.00
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
REO PROPERTY WITH FINAL RECOVERY DETERMINATION:
- -------------------------------------------------------------------------------------------------------------------------------
Mortgage Basis for Final All Proceeds Portion Proceeds Amount of
Loan # Recovery Determination Received to Certificates Realized Loss
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
N/A N/A N/A N/A N/A
- -------------------------------------------------------------------------------------------------------------------------------
N/A N/A N/A N/A N/A
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
LOAN PREPAYMENT INFORMATION:
- -------------------------------------------
Loan # Amount of Prepayment
<S> <C>
- -------------------------------------------
N/A N/A
- -------------------------------------------
N/A N/A
- -------------------------------------------
N/A N/A
- -------------------------------------------
N/A N/A
- -------------------------------------------
NA N/A
- -------------------------------------------
Total 0.00
- -------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
LIQUIDATED MORTGAGE LOANS: (OTHER THAN PREPAYMENTS IN FULL)
- -------------------------------------------------------------------------------------------------------------------------------
Loan Nature of Liquidation Portion of Proceeds Amount of
# Liquidation Event Proceeds Payable to Certificates Realized Loss
<S> <C> <C> <C> <C>
- -------------------------------------------------------------------------------------------------------------------------------
N/A N/A N/A N/A N/A
- -------------------------------------------------------------------------------------------------------------------------------
N/A N/A N/A N/A N/A
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-01
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF CURRENT SCHEDULED PRINCIPAL BALANCES
Current
Scheduled # of Aggregate % Tot Weighted Averages
Principal Mtg Sched Prin Sched Mnths Mort
Balance Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less Than $1,000,000.00 26 19,923,548 1.54% 1.59 120.48 9.073%
$1,000,000.00+ 47 67,319,449 5.19% 1.44 124.75 8.934%
$2,000,000.00+ 43 104,435,387 8.05% 1.48 130.24 8.812%
$3,000,000.00+ 54 186,631,391 14.39% 1.32 121.71 8.821%
$4,000,000.00+ 23 103,229,288 7.96% 1.39 102.04 8.744%
$5,000,000.00+ 26 141,523,860 10.91% 1.38 116.21 8.857%
$6,000,000.00+ 17 109,050,950 8.41% 1.32 95.96 8.641%
$7,000,000.00+ 13 97,940,313 7.55% 1.36 109.99 8.623%
$8,000,000.00+ 10 90,250,557 6.96% 1.35 117.00 8.513%
$10,000,000.00+ 10 127,500,811 9.83% 1.52 102.14 8.651%
$15,000,000.00+ 5 90,583,281 6.98% 1.32 118.89 8.647%
$20,000,000.00+ 6 158,638,374 12.23% 1.42 180.48 8.569%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF CURRENT MORTGAGE INTEREST RATES
Current
Scheduled # of Aggregate % Tot Weighted Averages
Principal Mtg Sched Prin Sched Mnths Mort
Balance Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less Than 8.000% 1 16,349,937 1.26% 1.32 107.00 7.992%
8.000%+ 24 133,898,674 10.32% 1.35 92.97 8.086%
8.250%+ 34 239,721,318 18.48% 1.38 134.63 8.373%
8.500%+ 64 313,593,220 24.18% 1.26 135.78 8.614%
8.750%+ 63 282,900,125 21.81% 1.43 108.58 8.847%
9.000%+ 46 145,758,879 11.24% 1.47 110.10 9.100%
9.250%+ 35 130,953,393 10.10% 1.62 144.70 9.340%
9.500%+ 10 26,552,982 2.05% 1.41 106.37 9.647%
10.000%+ 3 7,298,682 0.56% 1.28 99.87 10.330%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF REMAINING STATED TERM (BALLOON LOANS ONLY)
Current
Scheduled # of Aggregate % Tot Weighted Averages
Principal Mtg Sched Prin Sched Mnths Mort
Balance Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less Than 13 0 - 0.00% 0.00 0.00 0.000%
13-24 0 - 0.00% 0.00 0.00 0.000%
25-36 0 - 0.00% 0.00 0.00 0.000%
37-48 1 1,181,436 0.10% 1.93 44.00 8.850%
49-60 1 4,574,709 0.40% 1.24 49.00 10.500%
61-72 17 70,283,215 6.09% 1.45 71.39 8.564%
73+ 231 1,078,569,243 93.41% 1.37 111.57 8.697%
- ----------------------------------------------------------------------------------------------------------
Total 250 1,154,608,604 100.00% 1.38 108.81 8.696%
<CAPTION>
DISTRIBUTION OF REMAINING STATED TERM (FULLY AMORTIZING LOANS ONLY)
Remaining
Stated # of Aggregate % Tot Weighted Averages
Term Mtg Sched Prin Sched Mnths Mort
(Months) Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less Than 13 0 - 0.00% 0.00 0.00 0.000%
13-24 0 - 0.00% 0.00 0.00 0.000%
25-36 0 - 0.00% 0.00 0.00 0.000%
37-60 1 5,572,857 3.91% 1.64 43.00 9.625%
61-120 3 19,346,691 13.58% 1.92 109.22 9.311%
121-180 10 33,936,859 23.83% 1.47 167.63 8.729%
181-240 6 20,092,316 14.11% 1.18 227.50 9.010%
241+ 10 63,469,883 44.57% 1.47 316.28 8.738%
- ----------------------------------------------------------------------------------------------------------
Total 30 142,418,606 100.00% 1.50 229.51 8.887%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-02
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION BY STATE
# of Aggregate % Tot Weighted Averages
Mtg Sched Prin Sched Mnths Mort
States Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Texas 52 167,368,152 12.90% 1.35 98.18 8.643%
Florida 30 147,098,983 11.34% 1.40 101.61 8.694%
California 14 102,774,060 7.92% 1.44 160.01 8.714%
Pennsylvainia 9 89,198,861 6.88% 1.36 120.64 8.638%
Maryland 10 84,266,601 6.50% 1.48 112.66 8.510%
Arizona 17 71,788,701 5.53% 1.25 123.47 8.847%
Georgia 20 68,941,094 5.32% 1.52 120.02 8.828%
New Jersey 6 52,109,098 4.02% 1.38 248.02 8.739%
Illinois 6 38,496,405 2.97% 1.51 92.96 8.913%
Massachusetts 8 52,162,912 4.02% 1.53 105.08 8.938%
Other 108 422,822,342 32.60% 1.36 120.89 8.724%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF PROPERTY TYPE
# of Aggregate % Tot Weighted Averages
Property Mtg Sched Prin Sched Mnths Mort
Types Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Multifamily 123 523,209,072 40.34% 1.32 125.94 8.440%
Retail 94 502,521,715 38.74% 1.40 119.40 8.752%
Hotel 28 127,894,774 9.86% 1.59 133.80 9.372%
Office 14 69,545,957 5.36% 1.62 106.13 9.022%
Industrial 8 30,889,195 2.38% 1.36 114.33 8.991%
Self-Storage 6 15,146,922 1.17% 1.40 107.12 9.343%
Health Care 4 14,722,833 1.14% 1.06 110.42 8.658%
Mobile Home Park 3 13,096,742 1.01% 1.25 87.97 9.095%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF SEASONING
# of Aggregate % Tot Weighted Averages
Seasoning Mtg Sched Prin Sched Mnths Mort
(months) Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Less Than 13 279 1,292,452,501 99.65% 1.39 122.32 8.710%
13-24 0 - 0.00% 0.00 0.00 0.000%
25-36 1 4,574,709 0.35% 1.24 49.00 10.500%
37-48 0 - 0.00% 0.00 0.00 0.000%
49-60 0 - 0.00% 0.00 0.00 0.000%
61-72 0 - 0.00% 0.00 0.00 0.000%
73+ 0 - 0.00% 0.00 0.00 0.000%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF MOST RECENT DEBT SERVICE COVERAGE RATIO
# of Aggregate % Tot Weighted Averages
Mtg Sched Prin Sched Mnths Mort
DSCR Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 1 3,941,290 0.30% 0.00 231.00 8.550%
Less Than 1.01 18 70,410,013 5.43% 0.71 106.78 8.878%
1.01 - 1.109 13 65,787,760 5.07% 1.06 152.32 8.642%
1.11-1.209 21 83,567,727 6.44% 1.15 114.94 8.535%
1.21-1.309 50 271,866,587 20.96% 1.26 128.45 8.534%
1.31-1.409 45 229,204,844 17.67% 1.35 99.66 8.609%
1.41-1.509 44 214,131,924 16.51% 1.45 152.48 8.792%
1.51-2.009 76 311,259,936 24.00% 1.66 109.77 8.882%
2.01+ 12 46,857,131 3.61% 2.36 121.20 9.065%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-03
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF LOAN TO VALUE RATIO
Most # of Aggregate % Tot Weighted Averages
Recent Mtg Sched Prin Sched Mnths Mort
LTV Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 0 - 0.00% 0.00 0.00 0.000%
Less Than 50.00 11 43,242,314 3.33% 2.07 120.35 9.020%
50.00+ 37 126,521,379 9.75% 1.53 132.30 9.070%
60.00+ 88 328,289,761 25.31% 1.46 113.27 8.984%
70.00+ 141 777,004,465 59.91% 1.30 123.12 8.525%
80.00+ 2 4,748,295 0.37% 1.06 346.00 8.600%
90.00+ 0 - 0.00% 0.00 0.00 0.000%
100.00+ 1 17,220,996 1.33% 1.48 109.00 8.940%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF AMORTIZATION TYPE
# of Aggregate % Tot Weighted Averages
Amortization Mtg Sched Prin Sched Mnths Mort
Type Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Amortizing Balloon 249 1,153,167,114 88.91% 1.38 108.81 8.696%
Fully Amortizing 27 118,940,548 9.17% 1.42 256.37 8.782%
Other 4 24,919,548 1.92% 1.86 94.41 9.381%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF REMAINING AMORTIZATION TERM
Original # of Aggregate % Tot Weighted Averages
Amortization Mtg Sched Prin Sched Mnths Mort
Term Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0+ 0 - 0.00% 0.00 0.00 0.000%
120+ 23 88,857,029 6.85% 1.55 159.40 8.944%
240+ 10 43,554,080 3.36% 1.67 186.58 9.312%
270+ 93 269,994,878 20.82% 1.48 102.49 9.024%
300+ 25 126,105,396 9.72% 1.40 111.70 8.841%
330+ 129 768,515,827 59.25% 1.33 122.66 8.528%
370+ 0 - 0.00% 0.00 0.00 0.000%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
<CAPTION>
DISTRIBUTION OF ORIGINAL TERM TO STATED MATURITY
Original # of Aggregate % Tot Weighted Averages
Term to Mtg Sched Prin Sched Mnths Mort
Maturity Loans Balance Bal DSCR to Mat Rate
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0+ 2 6,754,293 0.52% 1.69 43.17 9.489%
72+ 56 280,222,046 21.60% 1.38 73.23 8.581%
89+ 1 1,405,908 0.11% 1.44 81.00 9.400%
109+ 179 778,932,276 60.06% 1.41 109.04 8.735%
121+ 26 150,995,584 11.64% 1.30 185.28 8.799%
241+ 0 - 0.00% 0.00 0.00 0.000%
275+ 16 78,717,103 6.07% 1.44 310.94 8.783%
- ----------------------------------------------------------------------------------------------------------
Total 280 1,297,027,210 100.00% 1.39 122.06 8.717%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
156 Multifamily AR 20061101 N 3,159,791 8.782
172 Multifamily NV 20040101 N 2,868,330 8.570
236 Multifamily TX 20070101 N 1,389,997 8.330
123 Multifamily AZ 20040101 N 3,758,235 8.530
193 Hotel TX 20161101 N 2,234,967 9.250
198 Hotel NC 20191101 N 2,217,758 9.250
25 Hotel VA 20191101 N 9,363,865 9.250
35 Hotel MA 20040501 N 7,653,965 9.400
41 Hotel VA 20191101 N 7,392,525 9.250
84 Hotel CO 20040501 N 5,119,210 9.400
86 Hotel PA 20040501 N 5,062,405 9.400
161 Office TX 20070401 N 3,078,523 9.340
199 Retail MI 20070401 N 2,214,380 8.920
222 Retail MA 20070401 N 1,638,030 9.060
228 Industrial OK 20120401 N 1,564,968 8.900
226 Retail PA 20070401 N 1,592,927 9.072
21 Multifamily IL 20040401 N 10,843,496 8.290
245 Multifamily GA 20070401 N 1,256,992 8.537
38 Retail MD 20070401 N 7,661,456 8.463
53 Multifamily TX 20040401 N 6,415,816 8.180
9 Multifamily MD 20040301 N 18,292,970 8.320
57 Retail FL 20040401 N 6,072,304 8.850
77 Mobile Home CO 20070301 N 5,368,652 8.330
11 Hotel IL 20040301 N 14,387,196 9.375
15 Retail MA 20070401 N 13,236,684 8.710
117 Multifamily NY 20170401 N 3,948,000 8.550
17 Multifamily FL 20061101 N 12,892,616 8.475
152 Multifamily NY 20070101 N 3,276,960 8.445
154 Multifamily TX 20040301 N 3,229,923 8.020
157 Self Storage CO 20061001 N 3,161,045 9.460
158 Retail MD 20111201 N 3,087,257 8.249
164 Industrial TX 20120101 N 3,032,687 9.250
162 Retail TX 20070301 N 3,073,333 8.760
165 Multifamily FL 20070401 N 3,064,002 8.280
177 Multifamily AL 20040301 N 2,757,788 8.000
168 Retail PA 20070101 N 2,967,584 8.636
19 Retail PA 20070201 N 11,353,330 8.840
187 Retail NY 20060901 N 2,465,075 9.060
196 Retail FL 20040301 N 2,237,430 8.520
204 Industrial TX 20040201 N 2,130,098 8.980
203 Multifamily TX 20040201 N 2,136,416 8.450
23 Retail FL 20031201 N 9,426,255 8.368
225 Retail TX 20070101 N 1,604,285 8.700
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- -----------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
26,378.20 0.00 1011998 0.00 0
23,488.54 0.00 12011997 0.00 B
10,596.57 0.00 1011998 0.00 0
30,675.49 0.00 12011997 0.00 B
20,881.76 0.00 1011998 0.00 0
19,711.28 0.00 12011997 0.00 B
83,225.42 0.00 12011997 0.00 B
66,740.17 0.00 1011998 0.00 0
65,704.28 0.00 12011997 0.00 B
44,637.90 0.00 12011997 0.00 B
45,195.80 0.00 1011998 0.00 0
26,740.62 0.00 1011998 0.00 0
17,771.13 0.00 1011998 0.00 0
13,914.60 0.00 1011998 0.00 0
16,133.22 0.00 1011998 0.00 0
12,956.94 0.00 1011998 0.00 0
82,194.77 0.00 1011998 0.00 0
10,233.85 0.00 1011998 0.00 0
59,004.55 0.00 1011998 0.00 0
48,139.65 0.00 1011998 0.00 0
139,139.57 0.00 12011997 0.00 B
49,653.00 0.00 1011998 0.00 0
40,872.50 0.00 1011998 0.00 0
125,428.38 0.00 1011998 0.00 0
104,251.42 0.00 1011998 0.00 0
34,839.62 0.00 1011998 0.00 0
99,728.51 0.00 1011998 0.00 0
25,245.63 0.00 1011998 0.00 0
23,892.68 0.00 1011998 0.00 0
27,869.37 0.00 1011998 0.00 0
31,042.63 0.00 1011998 0.00 0
32,162.26 0.00 1011998 0.00 0
25,507.52 0.00 1011998 0.00 0
23,204.00 0.00 1011998 0.00 0
20,361.97 0.00 1011998 0.00 0
24,432.38 0.00 1011998 0.00 0
90,576.25 0.00 1011998 0.00 0
21,082.73 0.00 1011998 0.00 0
17,332.45 0.00 1011998 0.00 0
18,013.29 0.00 12011997 0.00 B
16,455.51 0.00 1011998 0.00 0
72,159.93 0.00 12011997 0.00 B
12,648.00 0.00 1011998 0.00 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
230 Multifamily TX 20040201 N 1,515,365 8.450
238 Multifamily TX 20040201 N 1,381,218 8.450
249 Retail TX 20070301 N 1,189,975 8.940
28 Multifamily FL 20070201 N 9,037,131 8.500
13 Office Va 20070101 N 13,659,554 8.740
22 Multifamily CA 20070401 N 9,527,105 8.570
40 Multifamily CA 20070401 N 7,499,087 8.570
7 Retail AL 20081001 N 19,846,528 9.224
33 Multifamily NC 20040301 N 7,791,373 8.000
42 Office CA 20070301 N 7,310,572 8.720
47 Multifamily SC 20040301 N 6,721,575 8.000
50 Retail NE 20070101 N 6,601,621 8.240
56 Multifamily SC 20040301 N 6,294,396 8.000
54 Multifamily TX 20040201 N 6,358,156 8.280
55 Retail MI 20070201 N 6,339,590 8.860
66 Multifamily NC 20040301 N 5,803,778 8.000
67 Retail CT 20070301 N 5,767,859 8.560
74 Multifamily NC 20040301 N 5,565,267 8.000
81 Retail MD 20111201 N 5,113,270 8.249
93 Multifamily MS 20040301 N 4,849,732 8.000
97 Multifamily VA 20040301 N 4,770,229 8.000
98 Multifamily TX 20040101 N 4,714,251 8.070
89 Multifamily AL 20040301 N 4,968,988 8.000
96 Multifamily TX 20040301 N 4,776,144 8.000
101 Mobile Home ME 20020201 N 4,577,194 10.500
111 Retail TX 20070201 N 4,076,975 9.030
113 Retail IL 20070101 N 4,055,869 8.660
14 Retail FL 20061201 N 13,347,090 8.440
116 Multifamily TX 20070301 N 3,979,818 9.020
118 Multifamily AL 20061001 N 3,966,548 8.800
122 Multifamily TX 20040301 N 3,778,728 8.510
128 Retail FL 20070101 N 3,675,662 8.740
16 Office CA 20070301 N 12,824,547 9.230
139 Retail TX 20040201 N 3,478,977 8.700
144 Multifamily VA 20040301 N 3,372,002 8.000
220 Industrial MA 20070201 N 17,237,880 8.940
70 Office PA 20070401 N 5,658,174 8.990
106 Self Storage CA 20070401 N 4,317,608 8.900
202 Retail CA 20070401 N 2,134,237 8.995
190 Hotel OH 20120101 N 2,257,509 9.250
205 Hotel MI 20040201 N 2,122,543 9.750
241 Hotel TN 20070101 N 1,334,054 9.375
247 Office GA 20061101 N 1,235,656 9.343
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
11,671.93 0.00 1011998 0.00 0
10,638.68 0.00 1011998 0.00 0
10,021.10 0.00 1011998 0.00 0
69,925.09 0.00 1011998 0.00 0
108,073.12 0.00 1011998 0.00 0
74,091.26 0.00 12011997 0.00 B
58,319.59 0.00 1011998 0.00 0
164,158.40 0.00 12011997 0.00 B
57,527.15 0.00 1011998 0.00 0
57,665.07 0.00 1011998 0.00 0
49,628.36 0.00 1011998 0.00 0
49,912.49 0.00 1011998 0.00 0
46,474.31 0.00 1011998 0.00 0
48,216.11 0.00 1011998 0.00 0
53,096.34 0.00 1011998 0.00 0
42,851.86 0.00 1011998 0.00 0
44,843.84 0.00 1011998 0.00 0
41,090.82 0.00 1011998 0.00 0
51,414.36 0.00 1011998 0.00 0
35,807.72 0.00 1011998 0.00 0
35,220.70 0.00 1011998 0.00 0
35,085.89 0.00 1011998 0.00 0
36,688.23 0.00 1011998 0.00 0
35,264.38 0.00 1011998 0.00 0
42,535.38 0.00 1011998 0.00 0
33,078.07 0.00 1011998 0.00 0
33,457.55 0.00 1011998 0.00 0
102,847.48 0.00 12011997 0.00 B
32,242.48 0.00 1011998 0.00 0
31,610.97 0.00 1011998 0.00 0
29,245.65 0.00 1011998 0.00 0
29,081.49 0.00 1011998 0.00 0
118,894.27 0.00 1011998 0.00 0
27,409.62 0.00 1011998 0.00 0
24,896.98 0.00 1011998 0.00 0
145,305.92 0.00 1011998 0.00 0
47,795.17 0.00 12011997 0.00 B
36,207.62 0.00 1011998 0.00 0
18,035.36 0.00 1011998 0.00 0
20,017.90 0.00 1011998 0.00 0
19,070.34 0.00 1011998 0.00 0
11,940.75 0.00 1011998 0.00 0
10,785.10 0.00 12011997 0.00 B
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
256 Retail GA 20070101 N 1,040,765 8.710
264 Retail GA 20070101 N 929,254 8.710
268 Multifamily NC 20061001 N 888,101 8.950
272 Retail GA 20070101 N 842,524 8.710
281 Multifamily NC 20061001 N 441,185 9.050
210 Retail CO 20031101 N 2,049,826 9.000
253 Retail NY 20070101 N 1,138,299 9.010
267 Industrial NH 20040101 N 890,421 8.730
274 Multifamily OH 20061001 N 790,069 9.340
275 Multifamily OH 20061001 N 790,069 9.340
148 Retail FL 20031201 N 3,311,275 8.780
150 Multifamily TX 20120301 N 3,282,936 8.900
143 Retail CA 20120401 N 3,422,192 8.412
181 Retail IL 20040301 N 2,605,809 8.580
182 Retail FL 20070401 N 2,588,431 9.040
185 Multifamily TX 20070301 N 2,510,547 8.400
189 Retail TX 20061001 N 2,344,744 9.180
29 Retail IL 20061201 N 8,575,306 8.474
51 Multifamily TN 20061101 N 6,595,563 8.520
59 Retail OK 20070401 N 6,072,858 9.040
71 Self Storage NM 20061001 N 5,582,333 9.560
10 Multifamily PA 20061201 N 16,361,946 7.992
83 Multifamily TX 20031201 N 5,158,917 8.280
88 Multifamily TX 20031201 N 5,059,707 8.280
95 Retail TX 20040401 N 4,827,654 8.870
115 Retail FL 20070401 N 3,981,683 8.900
151 Retail CA 20040101 N 3,278,461 8.645
149 Retail TX 20070301 N 3,308,603 8.720
108 Multifamily TX 20070201 N 4,159,118 8.670
141 Hotel CA 20191101 N 3,450,755 9.375
8 Multifamily PA 20120401 N 18,908,567 8.657
163 Multifamily TX 20070201 N 3,080,175 8.390
39 Multifamily GA 20070101 N 7,542,915 8.080
60 Multifamily TX 20070201 N 6,062,153 8.540
79 Office FL 20070301 N 5,272,817 8.940
85 Multifamily KY 20070401 N 5,125,080 8.630
120 Multifamily TX 20061201 N 3,820,895 8.500
160 Multifamily CO 20070201 N 3,101,599 8.790
169 Retail KS 20070301 N 2,959,100 8.738
180 Multifamily MN 20040101 N 2,610,008 8.020
197 Retail AZ 20070101 N 2,235,574 8.866
231a Retail MO 20070301 N 1,446,709 8.820
242 Industrial WY 20070101 N 1,310,921 8.740
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
8,430.77 0.00 1011998 0.00 0
7,527.47 0.00 1011998 0.00 0
7,521.98 0.00 1011998 0.00 0
6,824.91 0.00 1011998 0.00 0
3,766.53 0.00 1011998 0.00 0
17,413.32 0.00 1011998 0.00 0
9,659.00 0.00 1011998 0.00 0
7,387.07 0.00 1011998 0.00 0
6,900.80 0.00 1011998 0.00 0
6,900.80 0.00 1011998 0.00 0
27,610.13 0.00 1011998 0.00 0
26,315.45 0.00 1011998 0.00 0
27,576.07 0.00 1011998 0.00 0
20,840.86 0.00 1011998 0.00 0
20,995.06 0.00 1011998 0.00 0
19,236.40 0.00 1011998 0.00 0
20,224.47 0.00 1011998 0.00 0
75,790.61 0.00 1011998 0.00 0
51,227.03 0.00 1011998 0.00 0
49,257.65 0.00 1011998 0.00 0
49,599.72 0.00 1011998 0.00 0
120,979.15 0.00 1011998 0.00 0
39,175.59 0.00 1011998 0.00 0
38,422.21 0.00 1011998 0.00 0
38,571.39 0.00 1011998 0.00 0
31,897.51 0.00 12011997 0.00 B
25,712.65 0.00 1011998 0.00 0
27,371.05 0.00 1011998 0.00 0
34,302.07 0.00 1011998 0.00 0
30,957.50 0.00 12011997 0.00 B
148,212.84 0.00 1011998 0.00 0
23,595.08 0.00 1011998 0.00 0
56,190.54 0.00 1011998 0.00 0
47,076.76 0.00 1011998 0.00 0
42,416.39 0.00 1011998 0.00 0
40,074.50 0.00 1011998 0.00 0
29,603.17 0.00 1011998 0.00 0
24,634.24 0.00 1011998 0.00 0
23,378.84 0.00 1011998 0.00 0
19,334.69 0.00 1011998 0.00 0
17,887.50 0.00 1011998 0.00 0
15,852.37 0.00 1011998 0.00 0
10,884.40 0.00 1011998 0.00 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
266 Office AZ 20031101 N 895,400 9.075
20 Retail CO 20070401 N 11,139,072 8.050
48 Retail AZ 20040401 N 6,719,153 8.910
44 Retail AZ 20040401 N 7,067,018 8.830
31 Multifamily MO 20070301 N 8,202,874 8.410
36 Retail AZ 20040101 N 7,661,905 8.610
43 Retail CO 20061201 N 7,148,457 8.770
58 Retail AZ 20031101 N 6,071,661 8.905
73 Retail AZ 20120401 N 5,573,665 8.770
80 Retail AZ 20120401 N 5,256,205 8.978
94 Retail CO 20070401 N 4,830,098 8.970
100 Retail CA 20160301 N 4,560,449 8.442
107 Retail MO 20070401 N 4,218,936 9.014
114 Office AZ 20070401 N 3,982,165 9.030
140 Multifamily MO 20111201 N 3,472,431 8.295
6 Retail GA 20070201 N 21,002,667 8.840
127 Multifamily VA 20061101 N 3,694,933 8.590
126 Multifamily NC 20061101 N 3,720,692 8.750
224 Multifamily WI 20211101 N 1,608,644 9.285
252 Multifamily TN 20061101 N 1,175,090 8.800
201 Multifamily TN 20061101 N 2,157,409 8.580
186 Multifamily UT 20261101 N 2,494,740 8.600
159 Multifamily UT 20261101 N 3,129,585 8.600
259 Health Care OH 20061101 N 997,011 10.125
192 Multifamily UT 20261101 N 2,256,674 8.600
208 Retail GA 20111201 N 2,029,029 8.740
49 Retail IL 20070101 N 6,650,944 8.800
30 Multifamily TX 20061101 N 8,481,126 8.600
223 Multifamily GA 20031201 N 1,631,961 9.125
130 Retail GA 20111201 N 3,587,034 8.740
167 Multifamily MN 20220101 N 3,032,470 9.400
129 Multifamily AZ 20061101 N 3,671,083 8.750
280 Multifamily NY 20070101 N 540,549 9.125
282 Multifamily NY 20070101 N 424,717 9.125
279 Multifamily NY 20070101 N 563,320 9.125
255 Multifamily NY 20070101 N 1,042,488 9.125
277 Multifamily NY 20070101 N 615,791 9.125
240 Retail CT 20061101 N 1,348,771 9.125
110 Multifamily FL 20061101 N 4,116,738 8.625
271 Self Storage AL 20070101 N 851,925 9.500
142 Hotel FL 20070201 N 3,431,446 9.680
283 Self Storage AL 20070101 N 396,244 9.500
214 Retail GA 20070101 N 1,830,374 8.750
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
7,306.43 0.00 1011998 0.00 0
82,572.35 0.00 1011998 0.00 0
53,875.48 0.00 1011998 0.00 0
56,261.89 0.00 1011998 0.00 0
62,909.90 0.00 1011998 0.00 0
59,916.39 0.00 1011998 0.00 0
56,745.31 0.00 1011998 0.00 0
48,809.19 0.00 1011998 0.00 0
44,135.24 0.00 1011998 0.00 0
42,400.52 0.00 1011998 0.00 0
38,935.60 0.00 1011998 0.00 0
40,890.45 0.00 1011998 0.00 0
35,706.60 0.00 1011998 0.00 0
32,271.29 0.00 1011998 0.00 0
26,405.14 0.00 1011998 0.00 0
167,558.14 0.00 1011998 0.00 0
28,879.96 0.00 1011998 0.00 0
29,501.27 0.00 1011998 0.00 0
13,368.45 0.00 1011998 0.00 0
9,823.97 0.00 1011998 0.00 0
16,847.34 0.00 1011998 0.00 0
19,516.70 0.00 1011998 0.00 0
24,483.17 0.00 1011998 0.00 0
9,879.18 0.00 1011998 0.00 0
17,654.27 0.00 1011998 0.00 0
20,976.02 0.00 1011998 0.00 0
54,856.21 0.00 1011998 0.00 0
66,349.00 0.00 1011998 0.00 0
13,988.25 0.00 1011998 0.00 0
37,082.61 0.00 1011998 0.00 0
25,423.82 0.00 12011997 0.00 B
29,107.92 0.00 1011998 0.00 0
4,628.84 0.00 1011998 0.00 0
3,636.95 0.00 1011998 0.00 0
4,823.83 0.00 1011998 0.00 0
8,927.05 0.00 12011997 0.00 B
5,273.15 0.00 12011997 0.00 B
11,572.10 0.00 1011998 0.00 0
32,278.27 0.00 1011998 0.00 0
7,513.79 0.00 1011998 0.00 0
30,663.96 0.00 1011998 0.00 0
3,494.79 0.00 1011998 0.00 0
15,209.66 0.00 1011998 0.00 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
270 Self Storage AL 20070101 N 851,925 9.500
244 Multifamily FL 20070101 N 1,274,002 8.600
229 Multifamily FL 20070101 N 1,540,079 8.600
248 Multifamily IN 20061201 N 1,189,729 8.205
257 Multifamily FL 20070101 N 1,011,882 8.600
239 Multifamily TN 20061201 N 1,359,549 8.205
243 Multifamily MD 20070101 N 1,288,420 8.375
250 Multifamily TX 20061101 N 1,191,211 9.070
233 Multifamily TX 20041015 N 1,406,709 9.400
251 Multifamily TX 20010901 N 1,182,662 8.850
284 Multifamily UT 20060801 N 394,650 9.330
254 Multifamily NY 20060901 N 1,063,198 8.980
246 Multifamily GA 20061001 N 1,243,870 9.150
32 Multifamily FL 20070101 N 7,874,622 8.625
3 Retail MD 20070101 N 28,588,883 8.750
212 Retail FL 20070301 N 1,945,941 8.875
146 Office SC 20070101 N 3,316,082 9.250
188 Multifamily TX 20070101 N 2,439,585 8.370
206 Retail VA 20070101 N 2,119,905 8.875
92 Retail FL 20040101 N 4,913,714 8.750
213 Retail GA 20070101 N 1,856,968 8.750
121 Retail AL 20070101 N 3,801,136 8.625
24 Multifamily TN 20061201 N 9,423,736 8.200
269 Multifamily TX 20070301 N 854,447 9.000
262 Multifamily TX 20070301 N 955,788 9.000
75 Retail NJ 20070401 N 5,450,589 9.030
91 Hotel NJ 20070201 N 4,937,327 9.000
278 Multifamily MN 20270101 N 596,085 8.780
155 Mobile Home VA 20061201 N 3,160,434 8.360
276 Multifamily FL 20070301 N 785,574 8.670
273 Multifamily FL 20070101 N 836,846 8.650
26 Multifamily FL 20070101 N 9,233,817 8.350
34 Multifamily FL 20070101 N 7,744,492 8.350
258 Multifamily MD 20070101 N 1,014,160 8.650
217 Industrial AZ 20120201 N 1,725,308 9.750
52 Retail LA 20120201 N 6,379,272 8.910
105 Retail TX 20120101 N 4,263,610 8.690
261 Multifamily OH 20220401 N 970,626 9.000
61 Retail WA 20040101 N 6,036,582 8.875
109 Retail CA 20070101 N 4,157,211 9.000
82 Retail NC 20070101 N 5,181,797 8.875
131 Retail NC 20070101 N 3,602,736 8.650
145 Office NJ 20070301 N 3,337,804 9.125
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
7,513.79 0.00 1011998 0.00 0
10,458.27 0.00 1011998 0.00 0
12,642.48 0.00 1011998 0.00 0
9,464.62 0.00 1011998 0.00 0
8,306.53 0.00 1011998 0.00 0
10,815.58 0.00 1011998 0.00 0
10,089.41 0.00 1011998 0.00 0
9,715.97 0.00 1011998 0.00 0
11,819.99 0.00 1011998 0.00 0
9,947.38 0.00 1011998 0.00 0
3,447.63 0.00 1011998 0.00 0
8,614.15 0.00 1011998 0.00 0
10,703.60 0.00 1011998 0.00 0
61,663.17 0.00 12011997 0.00 B
231,008.68 0.00 1011998 0.00 0
16,280.80 0.00 1011998 0.00 0
30,883.03 0.00 1011998 0.00 0
18,666.30 0.00 1011998 0.00 0
17,775.98 0.00 1011998 0.00 0
39,704.62 0.00 1011998 0.00 0
15,415.19 0.00 1011998 0.00 0
30,387.62 0.00 1011998 0.00 0
71,036.67 0.00 1011998 0.00 0
7,048.75 0.00 1011998 0.00 0
7,884.76 0.00 1011998 0.00 0
44,171.32 0.00 12011997 0.00 B
43,558.72 0.00 1011998 0.00 0
4,733.06 0.00 1011998 0.00 0
25,466.07 0.00 1011998 0.00 0
6,300.63 0.00 1011998 0.00 0
6,711.05 0.00 1011998 0.00 0
70,522.67 0.00 1011998 0.00 0
59,148.04 0.00 1011998 0.00 0
7,959.40 0.00 1011998 0.00 0
16,599.04 0.00 1011998 0.00 0
66,185.13 0.00 1011998 0.00 0
43,819.97 0.00 1011998 0.00 0
7,845.07 0.00 1011998 0.00 0
50,669.85 0.00 1011998 0.00 0
35,246.25 0.00 1011998 0.00 0
42,318.30 0.00 1011998 0.00 0
29,695.43 0.00 1011998 0.00 0
27,826.83 0.00 1011998 0.00 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
124 Multifamily MA 20070401 N 3,756,359 8.530
65 Retail SC 20070101 N 5,886,879 8.750
153 Hotel LA 20070201 N 3,254,811 9.375
218 Multifamily WI 20220301 N 1,704,369 9.620
221 Multifamily GA 20070201 N 1,672,875 8.790
265 Multifamily IN 20070301 N 913,991 8.700
45 Retail AZ 20070201 N 6,947,050 9.000
103 Hotel GA 20061101 N 4,334,645 9.750
72 Hotel KY 20010801 N 5,577,972 9.625
200 Multifamily TX 20070201 N 2,183,415 8.750
211 Multifamily AZ 20220201 N 1,987,741 8.600
63 Multifamily AZ 20220201 N 5,953,516 8.600
136 Multifamily CA 20070301 N 3,531,073 8.750
173 Multifamily NJ 20070201 N 2,830,756 9.350
209 Retail IN 20070401 N 2,054,523 8.875
176 Multifamily GA 20220301 N 2,773,850 8.250
171 Multifamily NY 20070301 N 2,879,944 8.625
119 Hotel FL 20070401 N 3,858,386 9.375
179 Retail MD 20170401 N 2,604,905 9.375
135 Multifamily CT 20040401 N 3,534,478 9.125
234 Retail TX 20070401 N 1,405,436 9.220
183 Retail TX 20070401 N 2,578,500 9.220
263 Retail AZ 20070301 N 937,340 9.125
138 Hotel PA 20070401 N 3,478,514 9.125
112 Multifamily TX 20070101 N 4,071,804 8.520
260 Multifamily VA 20061101 N 987,671 8.900
215 Multifamily MA 20070201 N 1,782,954 8.840
133 Hotel MA 20070401 N 3,579,047 9.375
178 Multifamily TX 20070101 N 2,681,581 8.560
194 Multifamily TX 20070401 N 2,246,612 8.875
219 Office NY 20070301 N 1,686,221 9.125
12 Multifamily MD 20070301 N 13,916,575 8.200
237 Retail TX 20070401 N 1,386,607 9.220
227 Multifamily TX 20070401 N 1,594,038 8.750
76 Retail NC 20070401 N 5,365,073 8.875
4 Retail PA 20070401 N 23,876,526 8.625
134 Health Care CA 20070301 N 3,567,019 8.370
147 Retail MA 20070301 N 3,321,136 8.750
1 Retail CA 20170401 N 33,277,173 8.550
184 Health Care GA 20070401 N 2,509,087 9.000
102 Retail GA 20070401 N 4,482,143 8.530
132 Hotel DE 20070401 N 3,585,597 9.250
104 Hotel TN 20070401 N 4,343,571 9.375
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
29,106.78 0.00 1011998 0.00 0
48,917.55 0.00 1011998 0.00 0
29,100.04 0.00 1011998 0.00 0
14,545.55 0.00 1011998 0.00 0
13,931.94 0.00 1011998 0.00 0
7,548.87 0.00 1011998 0.00 0
57,618.78 0.00 1011998 0.00 0
40,536.88 0.00 1011998 0.00 0
49,855.69 0.00 1011998 0.00 0
17,646.50 0.00 1011998 0.00 0
15,520.23 0.00 1011998 0.00 0
47,500.43 0.00 1011998 0.00 0
27,927.86 0.00 1011998 0.00 0
24,064.13 0.00 1011998 0.00 0
17,194.52 0.00 1011998 0.00 0
22,076.60 0.00 1011998 0.00 0
23,008.90 0.00 1011998 0.00 0
36,035.36 0.00 1011998 0.00 0
24,328.49 0.00 1011998 0.00 0
28,883.97 0.00 1011998 0.00 0
11,569.08 0.00 1011998 0.00 0
21,630.00 0.00 1011998 0.00 0
8,011.45 0.00 1011998 0.00 0
29,672.05 0.00 1011998 0.00 0
31,583.59 0.00 1011998 0.00 0
8,323.59 0.00 1011998 0.00 0
14,908.81 0.00 1011998 0.00 0
31,140.84 0.00 1011998 0.00 0
20,875.58 0.00 1011998 0.00 0
17,957.71 0.00 1011998 0.00 0
14,412.14 0.00 1011998 0.00 0
104,685.62 0.00 1011998 0.00 0
11,917.66 0.00 1011998 0.00 0
12,587.21 0.00 1011998 0.00 0
44,855.27 0.00 11011997 0.00 1
190,418.48 0.00 12011997 0.00 B
28,673.48 0.00 1011998 0.00 0
27,541.81 0.00 1011998 0.00 0
258,071.10 0.00 1011998 0.00 0
21,189.71 0.00 12011997 0.00 B
34,696.83 0.00 1011998 0.00 0
33,200.17 0.00 1011998 0.00 0
37,792.87 0.00 1011998 0.00 0
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-04
</TABLE>
<TABLE>
<CAPTION>
LOAN LEVEL DETAIL
Offer Property Transfer Maturity Neg Am Beg Note
Control# Type Date State Date (Y/N) Sched Bal Rate
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
137 Hotel GA 20070401 N 3,479,629 9.375
78 Hotel FL 20070401 N 5,323,833 9.375
125 Hotel GA 20070401 N 3,723,203 9.375
37 Health Care MT 20070401 N 7,661,667 8.490
5 Multifamily IN 20070401 N 22,133,726 8.250
46 Retail FL 20070401 N 6,806,831 9.000
69 Retail FL 20070401 N 5,673,246 9.000
87 Hotel VA 20170401 N 5,044,565 9.250
2 Multifamily NJ 20270401 N 29,848,516 8.420
68 Hotel NJ 20070401 N 5,741,388 9.375
235 Office AZ 20070401 N 1,395,606 9.250
232 Multifamily TX 20070401 N 1,466,012 9.160
207 Multifamily TX 20070401 N 2,087,203 9.160
174 Multifamily TX 20040401 N 2,826,004 8.540
191 Retail IL 20070401 N 2,263,393 8.810
27 Multifamily TX 20040401 N 9,053,864 8.400
166 Industrial FL 20040401 N 3,035,838 8.832
170 Retail FL 20070401 N 2,886,936 8.980
216 Hotel OK 20170401 N 1,730,893 10.000
62 Office TX 20040401 N 5,957,323 9.180
175 Retail MD 20111101 N 2,780,749 8.938
195 Retail NY 20111101 N 2,202,430 8.938
- --------------------------------------------------------------------------------------------------------------------
totals 1,298,089,752
<CAPTION>
Sched Prepay/ Prepay Paid Thru Prepmt Loan
P&I Liquid Date Date Premium Status
- ----------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C>
30,275.82 0.00 1011998 0.00 0
46,322.00 0.00 1011998 0.00 0
32,395.12 0.00 1011998 0.00 0
59,151.78 0.00 1011998 0.00 0
167,156.82 0.00 1011998 0.00 0
57,484.95 0.00 1011998 0.00 0
46,718.44 0.00 1011998 0.00 0
46,709.21 0.00 12011997 0.00 B
228,975.31 0.00 12011997 0.00 B
49,955.10 0.00 1011998 0.00 0
12,023.60 0.00 12011997 0.00 B
12,540.16 0.00 1011998 0.00 0
17,853.78 0.00 1011998 0.00 0
21,917.70 0.00 1011998 0.00 0
17,987.10 0.00 1011998 0.00 0
69,327.23 0.00 1011998 0.00 0
24,173.21 0.00 1011998 0.00 0
23,292.34 0.00 1011998 0.00 0
16,887.88 0.00 1011998 0.00 0
51,093.40 0.00 1011998 0.00 0
29,154.42 0.00 1011998 0.00 0
23,091.11 0.00 1011998 0.00 0
- -------------------------------------------------------------------------------------------------------
totals 10,537,989 - 0.00
</TABLE>
If state field is blank loan has properties in multiple states.
Loan Status:
A = Payment not rec'd. but still in grace period, B= Late payment, but less
than 1mo., 0= Current, 1= 1 mo. delinquent, 2= 2mo. delinquent, 3= Three or
more mo. delinquent
4 = Assumed scheduled payment (performing matured balloon), 7= Foreclosure,
9=REO
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: January 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-05
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY/PREPAYMENT REPORTING HISTORY: ROLLING 24 MONTHS
Dist Delinq 1 Month Delinq 2 Months Delinq 3+ Months Foreclosure/Bank REO Modifications Prepayments
Date # Bal # Bal # Bal # Bal # Bal # Bal # Bal
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
198 1 5,370,211.42 0 - 0 - 0 - 0 - 0 - 0 -
1297 0 - 0 - 0 - 0 - 0 - 0 - 0 -
1197 0 - 0 - 0 - 0 - 0 - 0 - 0 -
1097 0 - 0 - 0 - 0 - 0 - 0 - 0 -
997 0 - 0 - 0 - 0 - 0 - 0 - 0 -
897 0 - 0 - 0 - 0 - 0 - 0 - 0 -
797 0 - 0 - 0 - 0 - 0 - 0 - 0 -
697 0 - 0 - 0 - 0 - 0 - 0 - 0 -
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES Web: corporatetrust.statestreet.com
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-07
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY LOAN DETAIL
Offer Paid Thru Current Outstand Adv Loan Spec Ser Foreclosure Bankruptcy REO
Control# Period Date P&I Adv P&I Adv Desc(1) Status (2) Trans Date Date Date Date
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
76 1181998 11011997 44,885.27 44,885.27 1 n/a n/a n/a n/a n/a
</TABLE>
No delinquent loans for 12/18/97
No delinquent loans for 11/18/97
No delinquent loans for 10/18/97
No delinquent loans for 9/18/97
No delinquent loans for 8/18/97
No delinquent loans for 7/18/97
No delinquent loans for 6/18/97
<TABLE>
<CAPTION>
(1) ADVANCE DESCRIPTION (2)LOAN STATUS:
- ------------------------- -----------------
<S> <C> <C>
0 = Late Payment but < one month delinquent 1= Spec Serviced 6= DPO
1 = P& I Advance - Loan delinquent 1 month 2 = Foreclosure 7=Foreclosure Sale
2 = P& I Advance - Loan delinquent 2 months 3= Bankruptcy 8= Bankruptcy Sale
3 = P& I Advance - Loan delinquent 3 months or more 4=REO 9= REO Disposition
4 = P& I Advance - Loan in Grace Period 5= Prepay in Full 10 = Mod/Workout
5 = P& I Advance - Assumed Scheduled Payment
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-08
</TABLE>
<TABLE>
<CAPTION>
SPECIALLY SERVICED LOAN SUMMARY
<S> <C>
Number of Loans as of the Closing Date 283*
Principal Balance as of the Closing Date 1,305,448,224.47
Current Number of Loans 280
Current Outstanding Principal Balance 1,297,027,210.16
Current Number of Specially Serviced Loans 0
Current Outstanding Principal Balance of Specially Serviced Loans 0.00
Percent of Specially Serviced Loans (per Current Number of Loans) 0.00000%
Percent of Specially Serviced Loans (per Current Outstanding Principal Balance) 0.00000%
</TABLE>
<TABLE>
<CAPTION>
Curr Bal Curr Bal
as % of as % of
Number of Initial Current Spec Total Pool
Specially Serviced Loan Status Loans Prin Bal Prin Bal Serv Loans Balance
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 = Request for waiver of Prepayment Penalty
2 = Payment Default
3 = Request for Loan Modification or Workout
4 = Loans with Borrower Bankruptcy
5 = Loans in Process of Foreclosure
6 = Loans now REO Property
7 = Loan Paid Off
8 = Loans Returned to Master Servicer
*Original Loan count includes four loans which have subsequently been combined into one
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES Web: corporatetrust.statestreet.com
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-09
</TABLE>
<TABLE>
<CAPTION>
SPECIALLY SERVICED LOAN DETAIL
Offer Transfer Sched Maturity Prop Spec Serv
Control# Date Prin Bal Date Type State NOI NOI Date DSCR Status Code *
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
No specially serviced loans
<TABLE>
<CAPTION>
* LEGEND
- ---------
<S> <C> <C>
1 = Request for waiver of Prepayment Penalty 4 = Loans with Borrower Bankruptcy 7 = Loan Paid Off
2 = Payment Default 5 = Loans in Process of Foreclosure 8 = Loans Returned to Master Servicer
3 = Request for Loan Modification or Workout 6 = Loans now REO Property
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-10
</TABLE>
<TABLE>
<CAPTION>
MODIFIED LOAN DETAIL
Distribution Control Modfication Modification
Date # Date Description
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C>
</TABLE>
No modified loans.
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES Web: corporatetrust.statestreet.com
SERIES 1997-C1 PAYMENT DATE: JANUARY 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-11
</TABLE>
<TABLE>
<CAPTION>
REALIZED LOSS DETAIL
Distribution Control Appraisal App Val/ Sched Gross GP as Agg Liq Net Liq NP as Current
Date # Date Broker Est Prin Bal Proceeds % of bal Expenses Proceeds % of bal Realized Loss
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
No realized losses
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Current Tot 0 0 0% 0 0 0
Cumulative 0 0 0% 0 0 0
</TABLE>
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