SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report: March 23, 1999
- ---------------------------------
(Date of earliest event reported)
Asset Securitization Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-53859 13-3672337
- --------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Two World Financial Center, Building B, New York, New York 10281
- --------------------------------------------------------------------------------
Address of Principal Executive Office
Registrant's telephone number, including area code: (212) 667-9300
<PAGE>
ITEM 5. OTHER EVENTS.
Attached as Exhibit 99.1 to this Current Report are certain materials
(the "Computational Materials") furnished to the Registrant by Goldman, Sachs &
Co. (the "Underwriters"), one of the underwriters in respect of the Registrant's
Commercial Mortgage Asset Trust, Commercial Mortgage Pass-Through Certificates,
Series 1999-C1 (the "Certificates"). The Certificates are being offered pursuant
to a Prospectus and related Prospectus Supplement (together, the "Prospectus"),
which will be filed with the Commission pursuant to Rule 424(b)(5) under the
Securities Act of 1933, as amended (the "Act"). The Certificates have been
registered pursuant to the Act under a Registration Statement on Form S-3 (No.
333-53859) (the "Registration Statement"). The Registrant hereby incorporates
the Computational Materials by reference in the Registration Statement.
The Computational Materials were prepared solely by the Underwriter,
and the Registrant did not prepare or participate in the preparation of the
Computational Materials.
Any statement or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit No. Description
----------- -----------
99.1 Computational Materials
<PAGE>
Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
ASSET SECURITIZATION CORPORATION
By: /s/ Marlyn Marincas
------------------------------
Name: Marlyn Marincas
Title:
Date: March 23, 1999
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Paper (P) or Electronic (E)
- ----------- ----------- ---------------------------
99.1 Computational Materials E
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 1
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
INTEREST RATE
- --------------------
- --------------------
6.250-6.499 4 4.94 13,135,162.32 1.55 6.4152 117.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
6.500-6.749 5 6.17 157,214,324.31 18.54 6.6297 119.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
6.750-6.999 13 16.05 73,452,425.95 8.66 6.8815 117.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
7.000-7.249 19 23.46 144,802,093.70 17.08 7.0534 115.7
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
7.250-7.499 12 14.81 141,596,842.75 16.7 7.3832 124.9
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
7.500-7.749 4 4.94 19,082,691.28 2.25 7.5939 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
7.750-7.799 5 6.17 47,642,367.86 5.62 7.8618 117.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
8.000-8.249 3 3.7 18,530,435.17 2.19 8.0747 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
8.250-8.499 7 8.64 183,269,922.07 21.62 8.389 114.8
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
8.500-8.749 6 7.41 41,867,518.91 4.94 8.5 114.3
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
8.750-8.999 1 1.23 5,064,078.92 0.6 8.92 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
10.500-10.749 2 2.47 2,098,158.28 0.25 10.63 129
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 2
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
STATED REMAINING TERM
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
108 - 119 Months 1 1.23 3,475,401.40 0.41 7.24 114
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
120 - 131 Months 1 1.23 124,000,000.00 14.63 6.65 120
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
228 - 239 Months 1 1.23 2,184,828.68 0.26 7.95 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
240 - 251 Months 1 1.23 5,046,568.64 0.6 7.55 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
263 - 275 Months 1 1.23 29,822,676.36 3.52 7 116
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
275 - 287 Months 2 2.47 84,696,869.57 9.99 7.444 130.9
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
287 - 299 Months 11 13.58 45,642,192.91 5.38 7.5731 116.1
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
299 - 311 Months 10 12.35 95,128,552.67 11.22 7.1166 117.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
311 - 323 Months 1 1.23 2,291,119.69 0.27 7.5 119
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
323 - 335 Months 1 1.23 6,729,968.62 0.79 6.88 119
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
335 - 347 Months 1 1.23 30,343,508.46 3.58 7.07 114
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
347 - 359 Months 50 61.73 418,394,334.52 49.35 7.848 115.7
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 3
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Anticipated Remaining Term
- ------------------------------------------------------------------------------------------------------------------------------------
108 - 119 Months 76 93.83 636,960,993.67 75.13 7.6163 115.9
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
120 - 131 Months 5 6.17 210,795,027.85 24.87 7.0087 124.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 4
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
AMORTISATION TYPE
- ------------------------------------------------------------------------------------------------------------------------------------
1 2 2.47 127,475,401.40 15.04 6.6661 119.8
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
2 79 97.53 720,280,620.12 84.96 7.6066 117.7
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 5
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
INTTYPE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
2 79 97.53 845,657,863.24 99.75 7.4574 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
3 2 2.47 2,098,158.28 0.25 10.63 129
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 6
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Year of Maturity
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
2008 40 49.38 406,680,920.15 47.97 7.6945 114.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
2009 40 49.38 360,304,803.67 42.5 7.221 119
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
2010 1 1.23 80,770,297.70 9.53 7.4 131
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 7
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Principal Balance
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 0.00-$
2,500,000 21 25.93 34,207,502.69 4.04 7.4795 118.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 2,500,000-$
4,999,999 26 32.1 97,595,546.61 11.51 7.1521 117.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 5,000,000-$
7,499,999 15 18.52 97,736,229.84 11.53 7.7181 116.3
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 7,500,000-$
9,999,999 3 3.7 27,407,175.73 3.23 7.5792 116
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 10,000,000-$
19,999,999 6 7.41 87,046,244.82 10.27 7.6087 115.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 20,000,000-$
39,999,999 6 7.41 151,552,115.35 17.88 7.1898 116.1
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 65,000,000-$
89,999,999 3 3.7 228,211,206.48 26.92 8.0461 120.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$ 122,500,000-$
156,000,000 1 1.23 124,000,000.00 14.63 6.65 120
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 8
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
BUYUP
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
0 68 83.95 675,017,419.18 79.62 7.2312 119.2
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
1 13 16.05 172,738,602.34 20.38 8.3798 113.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 9
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PTYPE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Industrial 6 7.41 44,836,418.14 5.29 7.0236 115.2
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Lodging 6 7.41 114,650,127.24 13.52 7.5163 126.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Mobile Home Park 2 2.47 7,458,592.44 0.88 6.9516 116.1
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Multifamily 18 22.22 77,579,517.17 9.15 7.1907 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Office 20 24.69 181,492,330.58 21.41 7.4872 116.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Other 1 1.23 29,822,676.36 3.52 7 116
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Retail 28 34.57 391,916,359.59 46.23 7.5901 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 10
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
- ------------------------------------------------------------------------------------------------------------------------------------
INTEREST Anticipated
PRINCIPAL BALANCE RATE Remaining Term
-----------------------------------------------------------------------------------
-------------------------------------------------
# OF % BY WEIGHTED WEIGHTED
LOANS % TOTAL DOLLARS AVERAGE AVERAGE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
STATE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
AL 1 1.23 4,980,154.72 0.59 6.97 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
AZ 2 2.47 6,175,980.80 0.73 7.3391 116.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CA 15 18.52 115,580,912.59 13.63 7.2127 117.5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DE 1 1.23 7,295,905.68 0.86 8 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FL 4 4.94 16,172,358.16 1.91 7.1065 116.8
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
GA 1 1.23 80,770,297.70 9.53 7.4 131
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
HI 1 1.23 30,343,508.46 3.58 7.07 114
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
IA 2 2.47 70,939,687.29 8.37 8.4371 117.9
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
IL 8 9.88 88,400,775.43 10.43 7.3782 116.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
LA 2 2.47 4,480,126.08 0.53 6.464 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
MD 2 2.47 5,026,420.49 0.59 7.0647 117.4
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
MI 3 3.7 39,605,370.72 4.67 7.3976 117
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
MN 5 6.17 17,987,353.30 2.12 7.9223 117.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
MO 1 1.23 1,993,546.74 0.24 7.12 116
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NC 1 1.23 5,046,568.64 0.6 7.55 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NM 5 6.17 24,052,645.12 2.84 8.0994 114.9
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
NY 4 4.94 145,494,271.29 17.16 6.8012 119.3
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
OH 2 2.47 10,825,128.57 1.28 8.0146 116.7
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
PA 1 1.23 2,291,119.69 0.27 7.5 119
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
SC 3 3.7 4,940,311.45 0.58 7.3404 118.6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TX 8 9.88 35,528,888.53 4.19 7.1474 116.8
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
VA 4 4.94 8,504,228.05 1 7.1218 116.7
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
VR 2 2.47 97,878,360.49 11.55 8.4 112
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
WA 1 1.23 4,351,942.67 0.51 6.78 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
WI 1 1.23 7,477,333.05 0.88 7.45 118
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
WV 1 1.23 11,612,825.81 1.37 6.89 114
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL 81 100 847,756,021.52 100 7.4652 118
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 11
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
OBS ANUM ANUM2 PROPNM PBAL RATE MDATE PDATE
<S> <C> <C> <C> <C> <C> <C> <C>
1 4 -1115914368 1430 N. Dearborn [Perm] 2189050.19 7 1/11/09 3/1/99
2 5 -593530450 1504 N. Dearborn [Perm] 2039796.77 7 1/11/09 3/1/99
3 12 4461 650 Academy 3654786.57 7.43 7/11/08 3/1/99
4 15 -1851216911 Airport Apts. 1354368.49 6.77 12/11/08 3/1/99
5 16 -5066332 Airport Industrial - B Piece 30343508.46 7.07 9/11/08 3/1/99
6 20 -5066265 Arlington Arms 2168160.14 7.25 2/11/09 3/1/99
7 21 1164 Atlanta Marriott - D8 80770297.7 7.4 2/11/10 3/1/99
8 23 2146051704 Back Bay Center 4630212.31 6.64 1/11/09 3/1/99
9 25 -1161042896 Baton Rouge Multi Family Portfolio 3285116.04 6.36 1/11/09 3/1/99
10 33 2146051855 BGK - Archway 60 3580576.02 7.03 10/11/08 3/1/99
11 34 2146051857 BGK - Broadmoor 2741126.76 7.12 11/11/08 3/1/99
12 35 2146052022 BGK - College Park South 4036932.15 7.12 11/11/08 3/1/99
13 36 2146052011 BGK - Hobbs Plaza 1127093.57 8.25 11/11/08 3/1/99
14 37 2146051603 BGK - Loretto Towne Centre 6828136.33 8.5 10/11/08 3/1/99
15 38 2146051603 BGK-Playhouse Square 4643132.38 8.5 10/11/08 3/1/99
16 39 2146051600 BGK - Lumber Exchange 6943833.45 8.5 9/11/08 3/1/99
17 40 2146052021 BGK - Medi-Park 3688061.46 7.12 11/11/08 3/1/99
18 41 2146051599 BGK - Paseo Verde 2192789.76 8.5 9/11/08 3/1/99
19 42 2146051854 BGK - Red Oak 6076096.67 7.03 10/11/08 3/1/99
20 43 2146052010 BGK-Ward Parkway 1993546.74 7.12 11/11/08 3/1/99
21 44 2146051602 BGK - Western Marquette 9319356.31 8.5 9/11/08 3/1/99
22 45 -5066215 Blacksburg Square 1742252.47 6.45 1/11/09 3/1/99
23 47 2146051729 Brewery Park II 25775402.1 7.78 12/11/08 3/1/99
24 52 -5066236 Casitas MHP 3475401.4 7.24 9/1/08 3/1/99
25 53 2146051679 Castlepark 20917181.13 7 10/11/08 3/1/99
26 54 890347660 Cathedral Village 3738207.12 7.25 2/11/09 3/1/99
27 68 -5067037 Community Shopping Center - Landov 1839311.85 7.35 1/11/09 3/1/99
28 70 2146051846 Corporate Park I 1095156.12 7.77 1/11/09 3/1/99
29 71 2146051847 Corporate Park III 856213 7.77 1/11/09 3/1/99
30 75 -740121862 Crabtree Fairfield Inn 5046568.64 7.55 1/11/09 3/1/99
31 77 1713 Crenshaw Plaza 3926571.87 8.35 11/11/09 3/1/99
32 79 2146051648 Crossroads Shopping Center 3809261.22 6.8 12/11/08 3/1/99
33 94 -5067047 Eagle Ridge Townhomes 6181996.19 7.65 1/11/09 3/1/99
34 95 -5066898 Eagle View Apartments 4980154.72 6.97 12/11/08 3/1/99
35 102 2146051817 Fairfield Park 2988942.33 7.06 2/11/09 3/1/99
36 103 2146051651 First Hill Apartments and Hill Hou 4351942.67 6.78 1/11/09 3/1/99
37 104 894465961 Flatbush Building--3701 14th Ave. 6371724.85 6.46 12/11/08 3/1/99
38 110 894469575 Glade Points Shopping Center 3389307.8 7.25 2/11/09 3/1/99
39 112 4196 Green Bay Plaza** 7477333.05 7.45 1/11/09 3/1/99
40 113 -5066069 Green Oaks Park Hotel 5563006.76 7.61 9/11/08 3/1/99
41 115 -1957078801 Greenway Allen Phase II 1619889.77 7.25 2/11/09 3/1/99
42 124 -5067030 Hilltop Center 996570.88 6.81 1/11/09 3/1/99
43 125 -5066081 HK Market 3182210.38 6.85 12/11/08 3/1/99
44 126 -5066244 Holiday Inn - Boulevard 2184828.68 7.95 1/11/09 3/1/99
45 128 809634094 Holiday Inn Shoreline-Corpus 9145154.78 7.08 1/11/09 3/1/99
46 132 4754 Iowa Malls 65875608.37 8.4 1/11/09 3/1/99
47 136 -5066089 Kenora Park Apartments 1736068.96 6.32 1/11/09 3/1/99
48 138 -5066812 Lafayette Square Apartments 1195010.04 6.75 1/11/09 3/1/99
49 139 893252423 Lakeshore Athletic Club 29822676.36 7 11/11/08 3/1/99
50 141 -5066264 Lexington Plaza SC 4560469.6 7.2 1/11/09 3/1/99
51 142 2146051701 Liberty Park Center 7065211.07 8.26 9/11/08 3/1/99
52 144 2146051655 List Industries 3483254.13 7.25 1/11/09 3/1/99
53 154 2146051587 Morgantown Mall and Commons - New 11612825.81 6.89 9/11/08 3/1/99
54 158 2711 Nationwide Housing - Blue Heron 1494708.93 10.63 12/11/09 3/1/99
55 161 2720 Nationwide Housing - Meadow Lane 603449.35 10.63 12/11/09 3/1/99
56 163 2146051716 Oakbrook Business Center/CLTV 11948399.33 7.38 11/11/08 3/1/99
57 164 -5067027 Oaks of Flagridge Apartments 4951324.9 6.75 1/11/09 3/1/99
58 165 2146051705 Olympic Plaza Office Building 24281498.4 6.95 2/11/09 3/1/99
59 166 2146051703 One Congressional Place 6595292.91 8.21 12/11/08 3/1/99
60 171 2146051728 Park Shelton Apartments 7100000 6.5 10/11/08 3/1/99
61 176 2344 Peru Mall 17730767.96 7.98 1/11/09 3/1/99
62 179 2146051659 Pine Crest Square 2392070.9 7 1/11/09 3/1/99
63 180 1721 Pine Tree Plaza 5064078.92 8.92 12/11/08 3/1/99
64 181 -5066789 Palm Center 8942664.64 7.13 11/11/08 3/1/99
65 183 -5066360 Plumtree Apartments 4639236.58 8 12/11/08 3/1/99
66 187 4743 Prime Retail - Note B 81565300.41 8.4 7/11/08 3/1/99
67 188 4743 Prime Retail - Note C 16313060.08 8.4 7/11/08 3/1/99
68 191 894471595 Puente Hills Business Park 2686561.58 7 1/11/09 3/1/99
69 198 -5066809 Riviera Mobile Home Park 3983191.04 6.7 1/11/09 3/1/99
70 202 2146051662 Sea Cliff Office Park 7397076.7 8.31 12/11/08 3/1/99
71 206 -5066904 SL Larchmont 3182275.76 7 10/11/08 3/1/99
72 208 -5066784 Soho Grand Hotel - New Note 11940270.68 8.5 9/11/08 3/1/99
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NOMURA DEAL - PROPERTY LEVEL 11:11 Tuesday, March 16, 1999 12
PROSPECTUS TABLE
PREPARED BY GOLDMAN SACHS & CO.
OBS ANUM ANUM2 PROPNM PBAL RATE MDATE PDATE
<S> <C> <C> <C> <C> <C> <C> <C>
73 210 2146051837 South Robert Plaza 2820181.18 6.75 2/11/09 3/1/99
74 219 -5066213 Strawberry Square. 2291119.69 7.5 2/11/09 3/1/99
75 222 2146051714 The Source 124000000 6.65 3/1/09 3/1/99
76 223 -5067022 The Woods Condominiums 1096046.39 7.43 1/11/09 3/1/99
77 224 2146051717 Two Century Center 20411848.9 7.38 11/11/08 3/1/99
78 225 -5066211 UCLA Medical Office. 17500920.96 6.52 1/11/09 3/1/99
79 226 2146051838 University Place Ctr. 3187108.64 6.9 12/11/08 3/1/99
80 230 -5066079 Washington Square Plaza 6729968.62 6.88 2/11/09 3/1/99
81 239 -5066352 Woodmill Apartments 7295905.68 8 12/11/08 3/1/99
============
847756021.52
</TABLE>
