<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 18, 1997
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (as depositor under the Pooling
and Servicing Agreement, dated as of December 1, 1997 providing for the
issuance of Chase Commercial Mortgage Securities Corp.'s Commercial
Mortgage Pass-Through Certificates, Series 1997-2)
Chase Commercial Mortgage Securities Corp.
(Exact name of registrant as specified in its charter)
New York 333-18961 13-3728743
---------------------------- ----------- -------------------
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File No.) Identification No.)
380 Madison Avenue
New York, New York
---------------------
(Address of Principal 10017-2951
Executive Offices) ----------
(Zip Code)
Registrant's telephone number, including area code (212) 622-3510
<PAGE>
Item 5. Other Events
The Registrant registered issuances of Commercial Mortgage
Pass-Through Certificates on a delayed or continuous basis pursuant to Rule
415 under the Securities Act of 1933, as amended (the "Act"), by a
Registration Statement on Form S-3 (Registration File No. 333- 18961).
Pursuant to a base prospectus, dated November 17, 1997 and a prospectus
supplement, subject to completion, dated November 17, 1997, the Registrant
plans to issue approximately $724,453,212 in aggregate principal amount of its
Commercial Mortgage Pass-Through Certificates, Series 1997-2 (the
"Certificates") on or about December 18, 1997. This Current Report on Form 8-K
discloses the use of Computational Materials (as defined in the Kidder Peabody
Acceptance Corporation I, SEC No-Action Letter, available May 24, 1994),
Structural Term Sheets (as defined in the Public Securities Association, SEC
No-Action Letter, available February 17, 1995 (the "PSA Letter")) and
Collateral Term Sheets (as defined in the PSA Letter) by the underwriters in
connection with the offering of the Certificates. A copy of such Computational
Materials, Structural Term Sheets and Collateral Term Sheets is attached
hereto as Exhibit 99.
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
CHASE COMMERCIAL MORTGAGE
SECURITIES CORP.
By: /s/ Jacqueline R. Slater
--------------------------------
Name: Jacqueline R. Slater
Title: President
Dated: November 18, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
- ----------- ----------- --------
99 Computational Materials, Structural Term Sheets and
Collateral Term Sheets, each as prepared by the
underwriters in connection with the offering of the
Certificates
<PAGE>
11/17/97
NEW ISSUE - DECEMBER 1997
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
1997-2
$724.5MM PUBLICLY OFFERED CERTIFICATES
SEQUENTIAL PAY REMIC CLASSES
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
INITIAL AGGREGATE APPROX. APPROX.
CERTIFICATE APPROX. APPROX. WEIGHTED PRINCIPAL EXPECTED
RATINGS BALANCE OR DOLLAR PASS-THROUGH AVERAGE WINDOW FINAL PRICE TALK
CLASS S&P/FITCH NOTIONAL AMOUNT PRICE RATE LIFE* (YRS.)* MATURITY (BPS)****
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 AAA/AAA $196,000,000 100-00 6.46% 5.0 YRS 0.09-7.00 12/2004 65-70
- -----------------------------------------------------------------------------------------------------------------------------------
A-2 AAA/AAA 390,074,509 100-00 6.63% 9.5 YRS 7.00-9.92 11/2007 80-85
- -----------------------------------------------------------------------------------------------------------------------------------
X --***/AAA 813,992,373 9-09 VARIABLE** 8.9 YRS 0.09-15.67 08/2013 210-225
(INTEREST ONLY)
- -----------------------------------------------------------------------------------------------------------------------------------
B AA/AA 32,559,695 99-08 6.63% 9.9 YRS 9.92-9.92 11/2007 90-95
- -----------------------------------------------------------------------------------------------------------------------------------
C A/A 48,839,542 98-18 6.63% 10.0 YRS 9.92-10.00 12/2007 100-105
- -----------------------------------------------------------------------------------------------------------------------------------
D BBB/BBB 44,769,581 97-05 6.63% 10.0 YRS 10.00-10.00 12/2007 120-125
- -----------------------------------------------------------------------------------------------------------------------------------
E BBB-/BBB- 12,209,885 95-26 6.63% 10.0 YRS 10.00-10.00 12/2007 140-150
- -----------------------------------------------------------------------------------------------------------------------------------
F Not Offered 48,839,542 N/A 6.63% 11.8 yrs 10.00-14.67 8/2012 -
- -----------------------------------------------------------------------------------------------------------------------------------
G Not Offered 6,104,943 N/A 6.63% 14.7 yrs 14.67-14.75 9/2012 -
- -----------------------------------------------------------------------------------------------------------------------------------
H Not Offered 12,209,886 N/A 6.63% 14.8 yrs 14.75-14.92 11/2012 -
- -----------------------------------------------------------------------------------------------------------------------------------
I Not Offered 8,139,924 N/A 6.63% 14.9 yrs 14.92-14.92 11/2012 -
- -----------------------------------------------------------------------------------------------------------------------------------
J Not Offered 14,244,866 N/A 6.63% 15.0 yrs 14.92-15.67 8/2013 -
- -----------------------------------------------------------------------------------------------------------------------------------
<FN>
* ASSUMING NO PREPAYMENTS (OTHER THAN ON THE ANTICIPATED REPAYMENT DATE, IF
ANY), MODIFICATIONS, LOSSES, EXTENSIONS, CLEAN-UP CALLS AND THAT ALL
LOANS BALLOON AT MATURITY OR ANTICIPATED REPAYMENT DATE.
** THE PASS-THROUGH RATE ON THE CLASS X IS EQUAL TO THE EXCESS, IF ANY, OF
(I) THE WEIGHTED AVERAGE OF THE NET MORTGAGE RATES ON THE MORTGAGE LOANS
OVER (II) THE WEIGHTED AVERAGE OF THE PASS-THROUGH RATES OF THE OTHER
CLASSES (OTHER THAN THE RESIDUAL CLASS).
*** NOT RATED BY S&P.
**** WILL BE PRICED OFF OF THE INTERPOLATED TREASURY CURVE.
</TABLE>
SETTLEMENT DATE: On or about December 18, 1997.
COLLATERAL: 167 Loans: approximately 34.86% retail, 28.92%
multifamily, 18.02% office, 9.66% hotel, 7.45%
industrial, 0.64% mobile home community, 0.46%
congregate care facility.
LOAN SELLERS: The Chase Manhattan Bank (37.87%), Bear, Stearns
Funding, Inc. (35.25%), Residential Funding
Mortgage Securities I, Inc. (14.47%) and Paine
Webber Real Estate Securities Inc. (12.42%).
WA DSCR / LTV: 1.44x / 68.57% at the Cut-off Date (56.63% at
Maturity).
CALL PROTECTION: 100% of the mortgages are protected by Lockout,
Yield Maintenance, and/or Prepayment Premiums to
the extent described herein.
SERVICER: The Chase Manhattan Bank.
SPECIAL SERVICER: Lennar Partners, Inc.
UNDERWRITERS: Chase Securities Inc., Bear, Stearns & Co. Inc.,
PaineWebber Incorporated. Residential Funding
Securities Corporation ("RFSC") is a member of the
Bear, Stearns & Co. Inc. selling group.
<TABLE>
<S> <C> <C> <C>
CHASE SECURITIES INC. BEAR, STEARNS & CO. INC. PAINEWEBBER INCORPORATED RFSC
GREG MURPHY JIM REICHEK RENNY MENDEZ DAVID SOLTAU
MICHELLE MACKAY JIM HIGGINS JOHN OTIS
(212) 834-3813 (212) 272-5451 (212) 713-4002 (612) 832-7459
</TABLE>
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS LISTED ABOVE
AND NOT BY CHASE COMMERCIAL MORTGAGE SECURITIES CORP. ("CHASE") OR ANY OF ITS
AFFILIATES (OTHER THAN CHASE SECURITIES INC.). THE INFORMATION CONTAINED
HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE DESCRIPTIONS OF THE MORTGAGE
LOANS AND THE OTHER INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT
AND PROSPECTUS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
TABLE OF CONTENTS
PAGE
I SUBORDINATION LEVELS 1
II TRANSACTION SUMMARY 2
III CERTIFICATE STRUCTURE SUMMARY 3-4
IV MORTGAGE LOAN/COLLATERAL SUMMARY 5-8
V TEN LARGEST LOANS 9-10
VI PREPAYMENT PREMIUMS & YIELD MAINTENANCE 11-14
VII INDIVIDUAL MORTGAGE LOAN INFORMATION 15-19
VIII GEOGRAPHIC OVERVIEW MAP 20
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
1
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
SUBORDINATION LEVELS
<TABLE>
<CAPTION>
Initial Initial Initial
Credit Support(1) WA WA
DSCR(1) LTV(1)
<S> <C> <C> <C> <C>
CLASS A-1 CLASS X
28.00% 2.00x 49% $196.0MM(1) $814.0MM
AAA/AAA(2) (NOTIONAL)
---/AAA(3)
28.00% 2.00x 49% CLASS
A-2
$390.1MM(1)
AAA/AAA(2)
24.00% 1.89x 52% CLASS
B
$32.6MM(1)
AA/AA(2)
18.00% 1.76x 56% CLASS
C
$48.8MM(1)
A/A(2)
12.50% 1.65x 60% CLASS
D
$44.8MM(1)
BBB/BBB(2)
11.00% 1.62 61% CLASS
E
$12.2MM(1)
BBB-/BBB-(2)
- 1.44x 69% NON-OFFERED
CERTIFICATES
$89.5MM(1)
(not offered by
the Prospectus)
<FN>
1 - All percentages, ratios and class sizes are approximate.
2 - (S&P/Fitch)
3 - Fitch only, not rated by S&P
</TABLE>
CHASE SECURITIES INC. BEAR, STEARNS & CO. INC. PAINEWEBBER INCORPORATED
Residential Funding Securities
Corporation
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS LISTED ABOVE,
AND NOT BY CHASE COMMERCIAL MORTGAGE SECURITIES CORP. ("CHASE") OR ANY OF ITS
AFFILIATES (OTHER THAN CHASE SECURITIES INC.). THE INFORMATION CONTAINED
HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE DESCRIPTIONS OF THE MORTGAGE
LOANS AND THE OTHER INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT
AND PROSPECTUS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
2
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
TRANSACTION SUMMARY
DEPOSITOR: Chase Commercial Mortgage Securities Corp.
OFFERED CERTIFICATES: Class A-1 and Class A-2 (together the "Class A
Certificates"), Class X, Class B, Class C, Class D,
Class E.
LOAN SELLERS: The Chase Manhattan Bank (37.87%), Bear, Stearns
Funding, Inc. (35.25%), Residential Funding
Mortgage Securities I, Inc. (14.47%) and Paine
Webber Real Estate Securities Inc. (12.42%).
RATING AGENCIES: Standard & Poor's Ratings Services ("S&P") / Fitch
Investors Service, L.P. ("Fitch").
LEGAL STRUCTURE: Sequential pay REMIC classes rated AAA through BBB-
offered.
CUT-OFF DATE: December 1, 1997 (or with respect to 1 Mortgage
Loan, December 10, 1997).
SETTLEMENT DATE: On or about December 18, 1997.
DISTRIBUTION DATE: Monthly on the 19th or the next business day. The
first Distribution Date will occur in January 1998.
DELAY DAYS: 18.
SERVICER: The Chase Manhattan Bank.
SPECIAL SERVICER: Lennar Partners, Inc.
TRUSTEE: State Street Bank and Trust Company.
ERISA: Classes A-1, A-2, and X may qualify for certain
exemptions from the plan asset rules of ERISA.
SMMEA ELIGIBILITY: The Certificates are not SMMEA eligible.
OPTIONAL TERMINATION: 4% Clean-Up Call.
CERTIFICATE
REGISTRATION: Each Class of Offered Certificates will be
represented by one or more global Certificates
registered in the name of Cede & Co., as nominee of
the DTC.
PRICING SPEED: 0% CPR (assuming each Anticipated Repayment Date
("ARD") Loan prepays on its Anticipated Repayment
Date).
UNDERWRITERS: Chase Securities Inc., Bear, Stearns & Co. Inc.,
PaineWebber Incorporated. Residential Funding
Securities Corporation ("RFSC") is a member of the
Bear, Stearns & Co. Inc. selling group.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
3
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
CERTIFICATE STRUCTURE SUMMARY
DISTRIBUTION OF The Available Distribution Amount will be
PRINCIPAL AND applied as follows: (i) accrued and unpaid
INTEREST: interest to the Class A-1, A-2 and Class X
Certificates, pro rata; (ii) principal to the
Class A Certificates in reduction of their
Certificate Balances: first to the Class A-1
Certificates, then to the Class A-2
Certificates in each case until their
respective principal balances have been reduced
to zero (provided that the Class B Certificates
remain outstanding, otherwise, pro rata); (iii)
Collateral Support Deficit payments to the
class A certificates, pro rata, until all
unreimbursed amounts thereof allocated to such
certificates have been reimbursed in full; (iv)
accrued and unpaid interest to the Class B
Certificates; (v) principal to the Class B
Certificates until the Class B Certificate
Balance has been reduced to zero; (vi)
Collateral Support Deficit to the Class B
certificates, pro rata, until all unreimbursed
amounts thereof allocated to such certificates
have been reimbursed in full; and (vii)
distributions of interest and then principal
sequentially to the Class C through J
Certificates in the same manner as the Class B
Certificates described above. See page S-71 of
the preliminary Prospectus Supplement.
ALLOCATION OF LOSSES: Losses from any Mortgage Loan will generally
be allocated in reverse alphabetical
order starting with Class J. Any losses
allocable to the Class A Certificates will be
allocated pro rata. See page S-78 of the
preliminary Prospectus Supplement.
REPORTS TO The Paying Agent will furnish each
CERTIFICATEHOLDERS: Certificateholder, Bloomberg, L.P., the Trepp
Group and Charter Research Corporation with
information regarding: (i) distributions of
principal, interest and prepayment premiums on
each Class of Certificates; (ii) the amount of
P & I Advances, (iii) outstanding Mortgage Loan
and Certificate Balances; (iv) delinquency and
prepayment data; (v) and the amount of any
Appraisal Reductions.
The Servicer will provide a financial market
publisher, which is initially anticipated to be
Bloomberg, L.P., quarterly with certain current
information with respect to the Mortgaged
Properties, including current and original net
operating income, debt service coverage ratios
based upon borrowers' annual operating
statements and occupancy rates, to the extent
the Servicer has received such information from
the borrowers pursuant to the related Mortgage
Loan documents. Certificateholders may, at
their own expense, obtain the same information
from the Servicer by request. See page S-83 of
the preliminary Prospectus Supplement.
REPRESENTATIONS AND Each Mortgage Loan Seller will make certain
WARRANTIES: representations and warranties with respect to
each Mortgage Loan.
See page S-63 of the preliminary Prospectus
Supplement.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
4
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
CERTIFICATE STRUCTURE SUMMARY (CONTINUED)
SERVICER ADVANCING: The Servicer will be required to make
(i) P & I Advances (excluding principal Balloon
Payments and any excess interest from ARD Loans)
and (ii) Servicing Advances through liquidation
of a Mortgage Loan, unless such Advances are
determined by the Servicer to be Nonrecoverable
Advances, and, in the case of P & I Advances,
subject to the effect of any Appraisal Reductions
that may occur.
See page S-80 of the preliminary Prospectus
Supplement.
SPECIAL SERVICER When a Mortgage Loan is more than 60 days
RESPONSIBILITIES: delinquent, or upon the occurrence of certain
other events, the Servicer will transfer its
servicing responsibilities to the Special
Servicer. Material loan extensions and
modifications will be carried out by the Special
Servicer prior to servicing transfer. The Special
Servicer has the flexibility to modify Loans,
subject to the Servicing Standards set forth in
the Pooling and Servicing Agreement and subject
to certain other limitations described therein.
See page S-89 of the preliminary Prospectus
Supplement.
APPRAISAL An appraisal will be obtained by the Special
REDUCTIONS: Servicer if a Mortgage Loan becomes 120 days
delinquent, or upon the occurrence of certain
other events. An Appraisal Reduction may result,
which would have the effect of reducing the
amount of P & I Advances made by the Servicer and
the voting rights of the most subordinate Class
of Certificates then outstanding.
See page S-81 of the preliminary Prospectus
Supplement.
PREPAYMENT PREMIUMS AND 100% of the Mortgage Loans generally have
CHARGES: protection against voluntary prepayment during
their terms. 30.50% are locked out until their
respective maturity dates (or, with respect to
ARD Loans, Anticipated Repayment Date), 7.09%
require the payment of Yield Maintenance Charges
until maturity (or, with respect to ARD Loans,
Anticipated Repayment Date). The remaining 62.41%
have varying periods of Lockout, Yield
Maintenance and/or Prepayment Premiums until a
specified period of time (generally between three
and nine months) immediately prior to their
respective maturity dates during which there are
no restrictions on voluntary prepayment (or, with
respect to ARD Loans, Anticipated Repayment
Date).
See page S-40 of the preliminary Prospectus
Supplement.
DEFEASANCE: The terms of 33.94% of the Mortgage Loans grant
the related borrower the option at any time after
four years after origination (and with respect to
0.87% of the Mortgage Loans, three years after
origination) to obtain the release of the lien of
the Mortgage on the related Mortgaged Property by
substituting for such Mortgaged Property, as
collateral for the related Mortgage Note, U.S.
Treasury securities which provide for payments on
or prior to each Due date and the maturity date
or Anticipated Repayment Date, as the case may
be, of amounts at least equal to the amounts
which would have been payable on each such date
under the terms of the related Mortgage Loan. No
Yield Maintenance Charge or Prepayment Premium
will be payable in connection with the release of
a Mortgaged Property as described above. The
terms of 2.66% of the Mortgage Loans grant the
related borrower the option at any time after two
years after the Closing Date to obtain the
release of the lien of the Mortgage on the
related Mortgaged Property under similar terms as
described above, except that these Mortgage Loans
do not prohibit prepayment of such Mortgage Loans
during the period of time in which substitution
is permitted.
See page S-46 of the preliminary Prospectus
Supplement.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
5
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
MORTGAGE LOAN/COLLATERAL SUMMARY
MORTGAGE POOL: The Mortgage Pool will consist of 100 commercial,
65 multifamily and 2 mobile-home community
fixed-rate Mortgage Loans with an Initial Pool
Balance of approximately $813,992,373. See pages
6 through 8 for more information on the Mortgage
Loans. All statistics presented below and on the
following pages are approximate and are based on
the assumed composition of the Mortgage Pool.
CUT-OFF BALANCE: $813,992,373.
AVERAGE LOAN SIZE: $4,874,206.
WA COUPON: 8.16%.
WA DSC: 1.44x.
WA LTV AT CUT-OFF: 68.57%.
WA LTV AT MATURITY: 56.63%.
PROPERTY LOCATIONS: Properties are located in 29 states with the
largest concentrations in California (14.43%),
New York (11.91%), and Massachusetts (11.18%).
LARGEST LOANS: The largest Mortgage Loan represents
approximately 3.16% of the Initial Pool Balance;
the three largest Mortgage Loans represent 8.31%;
the ten largest Mortgage Loans represent 22.74%.
SPONSOR CONCENTRATIONS: There are no sponsor concentrations in excess of
5% of the Initial Pool Balance.
REMAINING TERMS TO MATURITY: Approximately 21.41% of the Mortgage Loans have
remaining terms to maturity/ARD varying between
28-112 months, 66.08% of the Mortgage Loans have
remaining terms to maturity/ARD varying between
113-120 months, 10.74% of the mortgage Loans have
remaining terms to maturity/ARD varying between
121-180 months, and the remaining 1.77% of the
Mortgage Loans have remaining terms to
maturity/ARD varying between 181-188 months.
WA LOAN MATURITY: Approximately 116.5 months.
BALLOON PAYMENTS: Approximately 96.1% of the Mortgage Loans require
balloon payments at maturity or Anticipated
Repayment Date; the remaining 3.9% of the Mortgage
Loans are fully amortizing.
INTEREST ACCRUAL PERIOD: Approximately 63.24% of the Mortgage Loans accrue
interest on a 30/360 basis; 36.15% of the
Mortgage Loans accrue interest on an Actual/360
basis; 1 Mortgage Loan, representing 0.61% of the
Mortgage Loans accrues interest on an Actual/365
basis.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
6
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
TYPE OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
PROPERTY NUMBER OF PROPERTIES AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
TYPE BALANCE POOL BALANCE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Multifamily 65 $235,391,817 28.92%
Anchored Retail 33 217,531,068 26.72
Office 19 146,711,689 18.02
Hotel 10 78,597,357 9.66
Industrial 17 60,627,193 7.45
Unanchored Retail 18 41,599,767 5.11
Single Tenant Retail 7 24,632,243 3.03
Mobile Home 2 5,180,000 0.64
Congregate Care 2 3,721,239 0.46
- ---------------------------------------------------------------------------------------------------
TOTAL 173 $813,992,373 100%
</TABLE>
<TABLE>
<CAPTION>
MORTGAGE LOANS BY STATE
NUMBER OF AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
STATE LOANS / PROPERTIES BALANCE POOL BALANCE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
California 20 / 21 $117,479,078 14.43%
New York 14 / 14 96,924,144 11.91
Massachusetts 11 / 11 91,004,746 11.18
Texas 16 / 16 73,870,064 9.08
Florida 17 / 17 54,919,949 6.75
Pennsylvania 10 / 10 47,522,653 5.84
Ohio 10 / 11 36,213,744 4.45
New Jersey 5 / 5 34,348,990 4.22
Georgia 12 / 12 33,764,342 4.15
20 Other States 52 / 56 227,944,662 28.00
- ---------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
</TABLE>
<TABLE>
<CAPTION>
RANGE OF MORTGAGE RATES AS OF THE CUT-OFF DATE
RANGE OF NUMBER OF AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
MORTGAGE RATES LOANS / PROPERTIES BALANCE POOL BALANCE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.745% to 6.999% 2 / 2 $9,970,000 1.22%
7.000% to 7.499% 12 / 13 65,406,139 8.04
7.500% to 7.999% 45 / 45 225,515,168 27.70
8.000% to 8.499% 60 / 65 288,899,731 35.49
8.500% to 8.999% 28 / 28 119,346,893 14.66
9.000% to 9.249% 17 / 17 94,213,892 11.57
9.250% to 9.280% 3 / 3 10,640,551 1.31
- ---------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
</TABLE>
THE WEIGHTED AVERAGE MORTGAGE RATE AS OF THE CUT-OFF DATE IS 8.16%.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
7
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
<TABLE>
<CAPTION>
RANGE OF CUT-OFF DATE BALANCES
RANGE OF NUMBER AGGREGATE PERCENTAGE OF
CUT-OFF DATE OF LOANS/ CUT-OFF DATE BALANCE INITIAL POOL BALANCE
BALANCES PROPERTIES
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
$ 530,000 to $2,000,000 51 / 51 $65,975,236 8.11%
2,000,001 to 4,000,000 42 / 42 127,158,092 15.62
4,000,001 to 6,000,000 30 / 31 146,779,219 18.03
6,000,001 to 8,000,000 16 / 16 107,605,085 13.22
8,000,001 to 15,000,000 20 / 21 209,259,610 25.71
15,000,001 to 20,000,000 4 / 4 68,620,455 8.43
20,000,001 to 25,685,110 4 / 8 88,594,677 10.88
- ---------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
</TABLE>
THE AVERAGE CUT-OFF DATE BALANCE IS $4,874,206.
<TABLE>
<CAPTION>
RANGE OF DEBT SERVICE COVERAGE RATIOS AS OF THE CUT-OFF DATE
RANGE OF NUMBER OF LOANS/ AGGREGATE CUT-OFF DATE PERCENTAGE OF
DSCRS PROPERTIES BALANCE INITIAL POOL BALANCE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.9301x to 0.9999x* 3 / 3 $13,508,569 1.66%
1.0000x to 1.1999x 4 / 4 9,114,436 1.12
1.2000x to 1.2999x 39 / 43 248,431,715 30.52
1.3000x to 1.3999x 42 / 42 150,147,017 18.45
1.4000x to 1.4999x 31 / 31 146,176,797 17.96
1.5000x to 1.7499x 30 / 32 179,313,531 22.03
1.7500x to 2.1711x 18 / 18 67,300,308 8.27
- ---------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813.992,373 100%
* 2 of such Mortgage Loans are Credit Lease loans.
</TABLE>
THE WEIGHTED AVERAGE DSCR AS OF THE CUT-OFF DATE IS 1.44X.
<TABLE>
<CAPTION>
RANGE OF LTV RATIOS AS OF THE CUT-OFF DATE
RANGE OF NUMBER OF LOANS/ AGGREGATE CUT-OFF DATE PERCENTAGE OF
LTV RATIOS PROPERTIES BALANCE INITIAL POOL BALANCE
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
41.63% to 49.99% 8 / 8 $46,239,471 5.69%
50.00% to 59.99% 21 / 21 105,432,287 12.95
60.00% to 69.99% 54 / 60 247,054,800 30.35
70.00% to 74.99% 45 / 45 273,653,377 33.62
75.00% to 79.99% 28 / 28 121,406,024 14.91
80.00% to 84.99% 7 / 7 8,361,506 1.03
85.00% to 87.07% 4 / 4 11,754,907 1.44
- ---------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
THE WEIGHTED AVERAGE LTV AS OF THE CUT-OFF DATE IS 68.57%.
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
8
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
<TABLE>
<CAPTION>
RANGE OF LTV RATIOS AS OF THE MORTGAGE LOAN MATURITY DATES
RANGE OF MATURITY NUMBER OF LOANS/ AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
LTV RATIOS PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.00% to 39.99% 14 / 15 $72,517,099 8.91%
40.00% to 49.99% 19 / 20 111,510,706 13.70
50.00% to 59.99% 47 / 51 202,289,056 24.85
60.00% to 64.99% 39 / 39 207,264,049 25.46
65.00% to 69.99% 25 / 25 132,473,233 16.27
70.00% to 74.99% 18 / 18 68,474,406 8.41
75.00% to 75.96% 5 / 5 19,463,825 2.39
- --------------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
</TABLE>
THE WEIGHTED AVERAGE LTV AS OF THE MATURITY DATE IS 56.63%.
<TABLE>
<CAPTION>
RANGE OF REMAINING TERM IN MONTHS*
RANGE OF REMAINING NUMBER OF MORTGAGE LOANS AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
TERMS (MOS.) / PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
28 to 72 7 / 7 $50,638,194 6.22%
73 to 108 19 / 19 75,118,551 9.23
109 to 112 13 / 13 48,500,028 5.96
113 to 116 38 / 38 205,156,705 25.20
117 to 120 72 / 77 332,784,703 40.88
121 to 180 15 / 16 87,392,188 10.74
181 to 188 3 / 3 14,402,005 1.77
- --------------------------------------------------------------------------------------------------------
TOTAL 167 / 173 $813,992,373 100%
* Calculated with respect to the Anticipated Repayment Date for the ARD Loans.
</TABLE>
THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY AS OF THE CUT-OFF
DATE IS 116.5 MONTHS.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
9
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
TEN LARGEST MORTGAGE LOANS
WEIGHTED AVERAGES
--------------------------------------------------------------------
AGGREGATE PERCENTAGE OF STATED CUT-OFF
CUT-OFF DATE INITIAL POOL MORTGAGE REMAINING DATE LTV LTV RATIO AT
PROPERTY NAME BALANCE BALANCE RATE TERM (MO.)* DSCR RATIO MATURITY*
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
200 Varick Street $25,685,110 3.16% 9.10% 115 1.29x 73.39% 61.13%
Warehousing of WI Package 20,986,263 2.58 8.13 119 1.27 66.62 58.63
Norwalk Town Square 20,986,193 2.58 8.10 179 1.39 74.95 60.18
Colonial Park 20,937,111 2.57 8.63 115 1.26 69.10 61.55
Monarch Place 18,980,890 2.33 8.23 116 1.72 55.83 46.49
Hotel Vintage Park 18,231,193 2.24 8.75 116 1.42 70.12 57.90
Sturbridge Host 16,285,780 2.00 9.13 109 1.58 69.30 58.08
6000 Stevenson Retail Center 15,122,593 1.86 8.28 115 1.46 58.16 47.55
Signature Pointe 14,379,608 1.77 7.75 58 1.21 79.89 75.88
Caldor Plaza 13,481,823 1.66 8.00 118 1.36 74.08 65.07
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE $185,076,563 22.74% 8.45% 118 1.39X 69.14% 59.02%
* Calculated with respect to the Anticipated Repayment Date for the ARD Loans.
</TABLE>
DESCRIPTION:
200 Varick Street (3.16%) 200 Varick Street is a 12-story office building
originally constructed for industrial use in 1924, and renovated for office
use in 1988. The property contains an above-grade net rentable area of 401,155
square feet, including 23,450 square feet of ground floor retail space. The
property is situated on a 35,538-square foot lot located at 200 Varick Street
in the Hudson Square submarket of New York City. Three of the largest office
tenants (Cox & Company, Doremus & Company, and Designtex, Inc.) comprise over
50% of the building's gross rentable area, have lease terms that extend at
least two years beyond loan maturity, and are leased to credit tenants. 200
Varick Street was 99.0% occupied as of April 8, 1997.
Warehousing of Wisconsin (2.58%) The Warehousing of Wisconsin portfolio
consists of five warehouse properties all built in 1995 or after. The
portfolio contains 1,157,462 net rentable square feet: 730,000 square feet
(63%) is leased to third party tenants, and 427,462 square feet (37%) is
operated by Warehousing of Wisconsin as public warehousing, the business of
providing warehousing space and services on short-term contracts. The
properties have the following locations in the Appleton/Oshkosh, Wisconsin
area: 923 Valley Road (442,500 square feet), 2690 Badger Avenue (162,500
square feet), 1840 West Spencer (247,462 square feet), 2225 Bohm Drive
(200,000 square feet), and 3600 Moser Street (105,000 square feet).
Warehousing of Wisconsin was 100% occupied as of July 30, 1997.
Norwalk Town Square (2.58%) Norwalk Town Square is a community shopping center
located at the northwest corner of Pioneer Boulevard and Rosecrans Avenue in
Norwalk, California. It consists of an "L"-shaped grouping of multi-tenant
retail/commercial buildings and four freestanding pad buildings, all totaling
239,179 net rentable square feet. Tenants include Pic N Save, 99 Cent Only
Store, Family Bargain Center, and Super Saver Cinema. Norwalk Town Square was
91.7% occupied as of September 22, 1997.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
10
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
TEN LARGEST MORTGAGE LOANS (CONTINUED)
Colonial Park (2.57%) Colonial Park is a 493,360 net rentable square foot,
office/industrial building located at 550 Rustcraft Road in Dedham,
Massachusetts, on 56.5 acres. The property was originally constructed in 1954,
and was renovated in 1982, 1985, 1995, and 1996. There are three tenants: Bank
of Boston, occupying 202,756 square feet (41.1%); American Red Cross (whose
northeast regional headquarters is located at the property), occupying 184,015
square feet (37.3%); and Copley Pharmaceuticals, occupying 67,920 square feet
(13.8%). Colonial Park was 92.2% occupied as of March 1, 1997.
Monarch Place (2.33%) Monarch Place is an office property consisting of two
adjoining buildings, one of which contains a hotel, totaling approximately
886,000 net rentable square feet. The complex was developed in 1988, and is
located in downtown Springfield, Massachusetts. The 26-story office tower
includes approximately 386,000 square feet. The first two levels contain
retail space. The office tower was 96.4% occupied as of October 1, 1997;
tenants include Merrill Lynch, occupying 53,342 square feet (16.7%); Health
New England, occupying 51,396 square feet (13.3%); Fleet Bank, occupying
47,849 square feet (12.4%); and Monarch Life Insurance, occupying 47,345
square feet (12.3%). There is also a Sheraton Hotel on the property which
consists of a 12-story atrium complex comprising 304 guest rooms, two
restaurants, a lounge, 20,000 square feet of function space, a full-service
health club, and a 176-space underground parking garage.
Hotel Vintage Park (2.24%) Hotel Vintage Park is a full-service hotel with 129
guest rooms and 79 parking spaces located on 2.2 acres of land in Seattle,
Washington. The property also contains a 110-seat restaurant, and a
four-story, adjacent parking garage. The facility was developed in 1949, and
renovated in 1992. The subject is located in downtown Seattle.
Sturbridge Host (2.00%) The Sturbridge Host Hotel & Conference Center is a
full-service hotel with 241 guest rooms; 25,000 square feet of meeting space
consisting of 15 function rooms including a 6,120-square foot ballroom,
12,744-square foot exhibit hall, and a 2,400-square foot tent; and 750 parking
spaces. Hotel amenities include an indoor pool and whirlpool, miniature golf,
tennis court, and a health and fitness center. Additionally, 75 rooms have
working fireplaces. The property is located on 15 acres of land in Sturbridge,
Massachusetts.
6000 Stevenson Retail Center (1.86%) 6000 Stevenson Retail Center consists of
four retail buildings (totaling 390,189 square feet) situated in Fremont,
California in the Silicon Valley. It is located on Stevenson Boulevard near
Interstate 880. The center includes an 80,000-square foot Home Depot, which
reported sales of $481 per square foot in 1996. The property was converted
from its original industrial use and also includes space leased to a
self-storage company and to a health club. 6000 Stevenson Retail Center was
100% occupied as of September 26, 1997.
Signature Pointe (1.77%) Signature Pointe is a 332-unit multifamily property
which consists of 37 buildings and situated on approximately 12.9 acres. The
buildings were constructed in 1973, and were renovated in 1996. The property
is located at 5936 East Lovers Lane in Dallas, Texas. Signature Pointe was 95%
occupied as of August 1, 1997.
Caldor Plaza (1.66%) Caldor Plaza is an anchored community shopping center
containing 187,743 net rentable square feet situated on an estimated 12-acre
site. The property contains 18 tenants and is anchored by Caldor, Kids `R' Us,
and Old Navy. The Caldor lease is guaranteed by The May Company. The property
is located in Levittown, New York. Caldor Plaza was 97.8% occupied as of April
1, 1997.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
11
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
PREPAYMENT PREMIUMS AND YIELD MAINTENANCE CHARGES
RESTRICTIONS:
100% of the Mortgage Loans generally have protection against voluntary
prepayment during their terms. 30.50% are locked out until their respective
maturity dates (or, with respect to ARD Loans, Anticipated Repayment Date),
7.09% require the payment of Yield Maintenance Charges until maturity (or,
with respect to ARD Loans, Anticipated Repayment Date). The remaining 62.41%
have varying periods of Lockout, Yield Maintenance and/or Prepayment Premiums
until a specified period of time (generally between three and nine months)
immediately prior to their respective maturity dates during which there are no
restrictions on voluntary prepayment (or, with respect to ARD Loans,
Anticipated Repayment Date).
ALLOCATION OF PREMIUMS AND CHARGES:
Prepayment Premiums: 25% of Prepayment Premiums will be allocated on
any distribution date, to the Class A, B, C, D and E Certificate
holders based on principal distributed to such Class on such
distribution date. Only Classes A, B, C, D and E will receive this
distribution. All remaining amounts of Prepayment Premiums will be
distributed to Class X. Please see page S-77 of the Prospectus
Supplement for a description of the allocation of Prepayment
Premiums.
Yield Maintenance Charges: Substantially all Yield Maintenance
Charges are calculated flat to Treasuries. The fraction of Yield
Maintenance Charges distributed to each eligible principal paying
bond class (Classes A, B, C, D and E) is defined by:
(a) - The principal distributed to each such class divided
by the total principal distributed to all classes
of Certificates
multiplied by
(b) - (Bond Coupon - Treasury Rate)/(Mortgage Rate-Treasury Rate),
where (b) is not to exceed 1.0, and where the Treasury Rate is the
appropriate Treasury yield used to calculate the Yield Maintenance
Charge.
This fraction is multiplied by the Yield Maintenance Charge, to
determine the amount allocated among Classes A, B, C, D, and E,
whichever are currently receiving principal on the distribution date.
Class X will receive the remainder of any Yield Maintenance Charges.
Please see page S-77 of the Prospectus Supplement for a description
of the allocation of Yield Maintenance Charges.
The following table and graph summarizes the amounts and percentages of the
Pool Balance which are subject to a Lockout Period, Yield Maintenance Charge
or Prepayment Premium on an annual basis over the life of the Trust (assuming
no loan prepayments, modifications, defaults or extensions).
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
12
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
PERCENTAGE OF REMAINING POOL BALANCE SUBJECT TO PREPAYMENT RESTRICTIONS
(DOLLAR AMOUNTS EXPRESSED IN MILLIONS)
IPB Outstanding
---------------------------------------------------------
IPB Outstanding
Initial Amount of ----------------------
Pool IPB
Date Balance Matured Amount % IPB
---------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C>
12/18/97 $814.0 $0.0 $814.0 100%
12/19/98 814.0 8.9 805.1 99%
12/19/99 814.0 18.6 795.4 98%
12/19/00 814.0 33.5 780.5 96%
12/19/01 814.0 55.1 758.9 93%
12/19/02 814.0 86.0 728.0 89%
12/19/03 814.0 113.9 700.1 86%
12/19/04 814.0 196.4 617.6 76%
12/19/05 814.0 210.3 603.7 74%
12/19/06 814.0 225.3 588.7 72%
12/19/07 814.0 736.4 77.6 10%
12/19/08 814.0 740.2 73.7 9%
12/19/09 814.0 757.1 56.9 7%
12/19/10 814.0 761.1 52.9 7%
12/19/11 814.0 765.4 48.6 6%
12/19/12 814.0 813.0 1.0 0%
<CAPTION>
Prepayment Restrictions Applicable to UPB Outstanding on Each Anniversary of the Prepayable Without
Cut-off Date Premium or Charge
- ---------------------------------------------------------------------------------- ---------------------
Yield Maintenance
Lockout Charges Prepayment Premiums
- ------------------------- --------------------------- ---------------------------- ---------------------
Amount % UPB Amount % UPB Amount % UPB Amount % UPB
- ------------- ----------- ----------- --------------- ------------ --------------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
$798.0 98.0% $16.0 2.0% $0.0 0.0% $0.0 0.0%
733.3 91.1% 71.8 8.9% 0.0 0.0% 0.0 0.0%
667.4 83.9% 108.3 13.6% 19.7 2.5% 0.0 0.0%
300.5 38.5% 435.6 55.8% 44.3 5.7% 0.0 0.0%
285.9 37.7% 428.3 56.4% 43.7 5.8% 1.1 0.1%
261.2 35.9% 422.4 58.0% 29.5 4.0% 15.0 2.1%
255.8 36.5% 413.6 59.1% 29.0 4.1% 1.8 0.3%
238.6 38.6% 351.1 56.9% 27.9 4.5% 0.0 0.0%
232.8 38.6% 343.9 57.0% 27.1 4.5% 0.0 0.0%
226.6 38.5% 307.4 52.2% 26.1 4.4% 28.5 4.8%
46.9 60.5% 16.7 21.6% 13.9 17.9% 0.0 0.0%
45.2 61.2% 15.5 21.1% 13.0 17.7% 0.0 0.0%
43.3 76.0% 11.3 19.9% 2.3 4.1% 0.0 0.0%
41.2 77.8% 10.0 18.8% 1.8 3.3% 0.0 0.0%
39.0 80.2% 8.5 17.5% 1.1 2.3% 0.0 0.0%
0.0 0.00% 0.6 56.8% 0.4 43.2% 0.0 0.0%
</TABLE>
As used above, "IPB" means Initial Pool Balance.
As used above, "UPB" means aggregate unpaid principal balance of all Mortgage
Loans.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
13
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
PREPAYMENT PROTECTION ON THE MORTGAGE LOANS
(DOLLAR AMOUNTS EXPRESSED IN MILLIONS)
[THE GRAPHIC OR IMAGE MATERIAL OMITTED FOR THE PURPOSE OF EDGAR FILING
DEPICTS A BAR GRAPH REPRESENTING PREPAYMENT PROTECTION ON THE MORTGAGE LOANS.]
*12/2007 represents the approximate close of the principal window for the
Class E Certificates.
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
14
<TABLE>
<CAPTION>
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
PREPAYMENT RESTRICTIONS IN EFFECT AS OF THE CUT-OFF DATE
YIELD
MAINTENANCE
CHARGES
-----------------
PERCENTAGE
ORIGINAL TERM NUMBER AGGREGATE OF
TO OF CUT-OFF INITIAL LOCKOUT YIELD MAINTENANCE CHARGE OR
MATURITY/ARD LOANS DATE POOL PERIOD PREPAYMENT PREMIUM DESCRIPTION BEGIN END
(MOS.) BALANCE BALANCE (MOS.) MONTH MONTH
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
48 1 $4,536,225 0.56% 24 > of specified percentage or YM 25 44
60 2 11,577,850 1.42 24-35 > of specified percentage or YM 25-36 54-56
60 1 14,379,608 1.77 23 Declining fixed penalties
84 18 81,660,158 10.03 10-47 > of specified percentage or YM 11-48 77-82
84 1 5,675,240 0.70 23 Declining fixed penalties
84 3 7,927,664 0.97 83 N/A
120 77 363,052,999 44.60 0-59 > of specified percentage or YM 1-60 110-119
120 1 12,796,599 1.57 35 Declining fixed penalties
120(2) 45 210,591,838 25.87 113-119 N/A
144 1 3,490,607 0.43 35 > of specified percentage or YM 36 140
144 2 12,906,695 1.59 35 Declining fixed penalties
180 4 13,304,734 1.63 23-35 > of specified percentage or YM 24-36 176-177
180 8 57,690,153 7.09 173-179 N/A
229 1 8,010,690 0.98 - > of specified percentage or YM 1 223
232(3) 2 6,391,315 0.79 119 Declining fixed penalties
--------------------- -----------
167 $813,992,373 100%
<PAGE>
<CAPTION>
PREPAYMENT
PREMIUMS
----------------
AND/OR FREELY
BEGIN END PREPAYABLE
MONTH MONTH DURING LAST(1)
- -------------------------------------
<S> <C> <C>
3
3-6
24 56 3
1-6
24 80 3
0-9
36 113 6
0-6
3
36 140 3
3
0-6
6
120 227-228 4-6
As used above, "Lockout Period", "Begin Month" and "End Month" are measured in monthly payments.
As used above, "N/A" means not applicable.
As used above, "UPB" means aggregate unpaid principal balance of all Mortgage Loans.
As used above, "ARD" means Anticipated Repayment Date.
(1) Number of months prior to maturity date or Anticipated Repayment Date, as applicable.
(2) One Mortgage Loan has an original term of 119 months.
(3) One Mortgage Loan has an original term of 235 months.
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
15
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
INDIVIDUAL MORTGAGE LOAN INFORMATION
<TABLE>
<CAPTION>
# of
ID Deal Name City St. Property Type Prop Occ. Originator
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 137 Newbury Street Boston MA Office 1 100% Chase
2 1430 Mass Avenue Cambridge MA Anchored Retail 1 100% Bear Stearns
3 200 Varick Street New York NY Office 1 99% Chase
4 2053 Central Avenue Albany NY Industrial 1 100% RFMSI
5 210 West Washington Square Philadelphia PA Office 1 90% Chase
6 25 Industrial Park Road Albany NY Industrial 1 100% RFMSI
7 270 Lafayette Street New York NY Office 1 93% Bear Stearns
8 6000 Stevenson Retail Center Fremont CA Anchored Retail 1 100% Bear Stearns
9 623 Broadway New York NY Anchored Retail 1 100% Bear Stearns
10 66 Newtown Lane East Hampton NY Unanchored Retail 1 100% Bear Stearns
11 68 Moulton Street Cambridge MA Office 1 98% PWRES
12 690 Kinderkamack Road/ United Way Bldg Oradell NJ Office 1 92% RFMSI
13 80 Field Point Road Greenwich CT Office 1 100% Chase
14 Acme/Reiser Various OH Anchored Retail 2 100% Bear Stearns
15 All Pak Container Renton WA Industrial 1 100% Bear Stearns
16 Alvarado Medical Plaza III San Diego CA Office 1 94% Chase
17 Anchor Down Mobile Home Park El Cajon CA Mobile Home 1 100% PWRES
18 Applegate II Chillicothe OH Multifamily 1 93% PWRES
19 Arbors Apartments Smyrna GA Multifamily 1 98% RFMSI
20 Ashford Hill Reynoldsburg OH Multifamily 1 90% PWRES
21 Ashford Place Apartments Griffin GA Multifamily 1 99% RFMSI
22 Ashgrove Calhoun Marshall Township MI Multifamily 1 92% PWRES
23 Ashgrove Franklin Franklin OH Multifamily 1 97% PWRES
24 Asian Mall Houston TX Unanchored Retail 1 86% PWRES
25 Banana Republic New York NY Single Tenant 1 100% Chase
Retail
26 Baywood Apartments Friendswood TX Multifamily 1 96% Chase
27 Bearss Shopping Center Tampa FL Anchored Retail 1 100% Bear Stearns
28 Best Western MacArthur Hotel Holtsville NY Hotel 1 75% Chase
29 Blossom Centre Willard OH Anchored Retail 1 96% RFMSI
30 Blossom Corners Apartments II Orlando FL Multifamily 1 88% RFMSI
31 Borders Apartments Brownsville TX Multifamily 1 99% Bear Stearns
32 Brookview Apartments Mesa AZ Multifamily 1 98% PWRES
33 Brownsville Square Shopping Center Douglasville GA Unanchored Retail 1 100% RFMSI
34 Caldor Plaza Levittown NY Anchored Retail 1 98% Chase
<PAGE>
<CAPTION>
Cut-Off Maturity Cut-Off Maturity
Balance % of Pool Coupon Date DSCR LTV LTV
- ------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$6,978,217 0.86% 8.125% 9/1/07 1.34 68% 56%
6,575,000 0.81% 7.800% 9/1/12 2.13 44% 39%
25,685,110 3.16% 9.100% 7/1/07 1.29 73% 61%
984,712 0.12% 9.130% 6/1/04 1.27 74% 67%
4,491,764 0.55% 8.500% 9/1/07 1.31 68% 60%
1,223,287 0.15% 9.000% 6/1/04 1.31 68% 61%
9,331,269 1.15% 7.690% 10/1/07 1.80 55% 45%
15,122,593 1.86% 8.280% 7/1/07 1.46 58% 48%
2,935,000 0.36% 7.910% 12/1/04 1.37 67% 57%
3,139,036 0.39% 8.440% 8/1/07 1.25 63% 53%
1,866,000 0.23% 7.620% 12/1/07 1.11 78% 37%
3,800,000 0.47% 8.010% 12/1/07 1.46 75% 65%
3,486,840 0.43% 8.750% 8/1/12 1.31 50% 33%
10,985,561 1.35% 7.441% 11/1/07 1.56 70% 48%
5,100,000 0.63% 7.340% 12/1/07 1.45 63% 51%
6,400,000 0.79% 7.750% 12/1/07 1.29 76% 66%
2,180,000 0.27% 7.870% 12/1/07 1.20 80% 71%
530,000 0.07% 8.630% 3/1/07 0.93 65% 58%
4,246,952 0.52% 7.670% 11/1/04 1.25 80% 74%
1,400,000 0.17% 8.200% 7/1/07 1.41 69% 61%
3,647,382 0.45% 7.670% 11/1/04 1.55 78% 71%
839,775 0.10% 8.810% 1/1/07 1.31 77% 69%
1,262,250 0.16% 8.810% 1/1/07 1.21 85% 76%
5,000,000 0.61% 8.400% 12/1/07 1.47 59% 49%
3,490,607 0.43% 8.050% 8/1/09 1.40 74% 63%
2,631,249 0.32% 8.126% 7/1/07 1.36 80% 70%
1,497,393 0.18% 8.150% 9/1/12 1.92 52% 42%
5,675,240 0.70% 9.250% 7/1/04 1.64 68% 62%
3,541,875 0.44% 9.280% 5/1/07 1.35 75% 67%
1,119,429 0.14% 8.240% 3/1/02 1.23 56% 52%
6,100,000 0.75% 7.180% 12/1/07 1.61 75% 66%
2,838,077 0.35% 8.080% 10/1/07 1.36 79% 64%
698,536 0.09% 8.060% 10/1/07 1.80 52% 42%
13,481,823 1.66% 8.000% 10/1/07 1.36 74% 65%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
16
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
INDIVIDUAL MORTGAGE LOAN INFORMATION (CONTINUED)
# of
ID Deal Name City St. Property Type Prop Occ. Originator
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
35 Carbon Plaza Lehighton PA Anchored Retail 1 99% RFMSI
36 Carlyle Place Apartments Houston TX Multifamily 1 88% Chase
37 Castlebrook Apartments Trotwood (Dayton) OH Multifamily 1 95% Chase
38 Cedargate II Bowling Green KY Multifamily 1 93% PWRES
39 Central Bergen Properties Garfield NJ Industrial 1 92% Bear Stearns
40 Cerritos South Cerritos Center Cerritos CA Unanchored Retail 1 95% Bear Stearns
41 Cherryvale Plaza Shopping Center Reisterstown MD Anchored Retail 1 100% Bear Stearns
42 Chevy Chase Downs Apartments Austin TX Multifamily 1 91% Chase
43 Colonial Park Dedham MA Office 1 92% Chase
44 Comfort Suites Atlanta Atlanta GA Hotel 1 73% Chase
45 Como West Apartments St. Paul MN Multifamily 1 98% Chase
46 Cottages at White Bear White Bear Lake MN Multifamily 1 100% PWRES
47 Coulter Forum Shopping Center Amarillo TX Unanchored Retail 1 91% Bear Stearns
48 Courtyard Business Center Sunrise FL Office 1 98% Bear Stearns
49 Courtyard Distribution Cntr. Sunrise FL Industrial 1 94% Bear Stearns
50 Dacra Washington Miami Beach FL Unanchored Retail 1 100% Chase
51 Daniel Court Union Township OH Multifamily 1 97% PWRES
52 Davie Square Shopping Center Davie FL Unanchored Retail 1 94% RFMSI
53 Days Inn - Jacksonville Jacksonville NC Hotel 1 57% PWRES
54 Days Inn Bloomington West Bloomington MN Hotel 1 73% Bear Stearns
55 De La Guerra Court Offices Santa Barbara CA Office 1 100% RFMSI
56 Deer Creek Village Apartments Phoenix AZ Multifamily 1 94% Bear Stearns
57 Deer Valley Industrial Park Phoenix AZ Industrial 1 100% RFMSI
58 Dela Park Easton MA Multifamily 1 94% Bear Stearns
59 Dela Plaza Shopping Center Dedham MA Anchored Retail 1 83% Bear Stearns
60 Eastpointe Apartments Oswego County NY Multifamily 1 91% Bear Stearns
61 Ellsberry Court Apartments Tampa Bay FL Multifamily 1 96% Bear Stearns
62 Esquire Apartments Peabody MA Multifamily 1 99% Bear Stearns
63 Fiesta Village Mesa AZ Mobile Home 1 97% PWRES
64 Fontana Auto Center Fontana CA Unanchored Retail 1 95% RFMSI
65 Food Lion Stanford KY Single Tenant 1 100% PWRES
Retail
66 Founders Square Shopping Center Roswell GA Unanchored Retail 1 82% RFMSI
67 Grain Exchange Building Boston MA Office 1 100% PWRES
68 Graphic Arts Building Jackson County MO Office 1 80% Bear Stearns
69 Green Valley Mall Green Valley AZ Anchored Retail 1 89% Bear Stearns
<PAGE>
<CAPTION>
Cut-Off Maturity Cut-Off Maturity
Balance % of Pool Coupon Date DSCR LTV LTV
- ------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
6,138,579 0.75% 8.430% 9/1/04 1.31 74% 69%
3,747,537 0.46% 8.126% 7/1/07 1.28 80% 70%
10,969,389 1.35% 7.870% 8/1/07 1.28 75% 65%
1,160,000 0.14% 8.200% 7/1/07 1.38 81% 71%
9,983,684 1.23% 8.720% 10/1/07 1.97 44% 37%
3,992,291 0.49% 7.890% 10/1/07 1.86 61% 51%
4,381,126 0.54% 7.940% 8/1/07 1.74 58% 47%
6,059,847 0.74% 8.126% 7/1/07 1.23 79% 69%
20,937,111 2.57% 8.625% 7/1/07 1.26 69% 62%
6,110,824 0.75% 9.125% 4/1/09 1.46 60% 47%
5,096,309 0.63% 7.625% 11/1/07 1.48 71% 62%
2,398,286 0.29% 7.690% 11/1/12 1.27 73% 57%
1,499,065 0.18% 8.360% 11/1/07 1.62 69% 62%
3,021,000 0.37% 7.110% 12/1/07 2.03 56% 45%
2,400,000 0.29% 7.200% 12/1/12 1.97 69% 53%
4,139,836 0.51% 8.500% 8/1/07 1.31 74% 66%
2,342,000 0.29% 8.200% 7/1/07 1.27 79% 70%
3,593,571 0.44% 8.620% 9/1/07 1.37 67% 59%
1,950,000 0.24% 8.670% 12/1/07 1.49 75% 54%
4,640,000 0.57% 8.280% 12/1/07 1.60 73% 52%
3,900,000 0.48% 7.650% 12/1/07 1.54 60% 53%
10,025,224 1.23% 7.670% 8/1/07 1.57 72% 64%
1,236,363 0.15% 8.090% 10/1/12 1.51 67% 52%
1,950,000 0.24% 7.080% 12/1/07 1.47 75% 60%
2,990,972 0.37% 7.895% 9/1/07 1.47 56% 47%
2,398,187 0.29% 7.410% 11/1/07 1.35 76% 67%
783,435 0.10% 7.580% 9/1/07 1.96 54% 48%
3,005,256 0.37% 7.500% 9/1/07 1.54 68% 56%
3,000,000 0.37% 7.670% 12/1/07 1.30 77% 68%
1,659,680 0.20% 9.200% 5/1/07 1.34 69% 58%
1,423,436 0.17% 9.250% 6/1/13 1.05 71% 0%
979,609 0.12% 9.170% 5/1/07 1.22 73% 52%
8,094,214 0.99% 7.690% 11/1/07 1.29 71% 63%
1,997,601 0.25% 7.750% 10/1/04 1.96 67% 62%
5,392,963 0.66% 8.250% 10/1/07 1.31 73% 64%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
17
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
INDIVIDUAL MORTGAGE LOAN INFORMATION (CONTINUED)
# of
ID Deal Name City St. Property Type Prop Occ. Originator
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
70 Greentrail Shopping Center Lisle IL Anchored Retail 1 100% Bear Stearns
71 Hampton Inn Orlando Orlando FL Hotel 1 91% Chase
72 Heather Green Apartments Columbus OH Multifamily 1 99% Bear Stearns
73 Heatherway Apartments Fort Pierce FL Multifamily 1 98% Bear Stearns
74 Hickory Grove Shopping Center Woodstock GA Unanchored Retail 1 100% RFMSI
75 Hillsboro Shopping Center Coconut Creek FL Anchored Retail 1 96% Chase
76 Holiday Inn Lancaster Lancaster PA Hotel 1 63% Chase
77 Hollywood Video Riverdale GA Single Tenant 1 100% RFMSI
Retail
78 Homewood Suites - Dallas Lewisville TX Hotel 1 77% Bear Stearns
79 Hotel Vintage Park Seattle WA Hotel 1 82% Chase
80 Hunterdon Shopping Center Flemington NJ Anchored Retail 1 96% Bear Stearns
81 Huntington Apartments College Station TX Multifamily 1 95% Chase
82 Kedzie Plaza East Shopping Center Chicago IL Unanchored Retail 1 100% RFMSI
83 Laguna Del Rey Apartments Playa Del Rey CA Multifamily 1 100% RFMSI
84 Lantana Industrial Park Lantana FL Industrial 1 100% RFMSI
85 Lindham Court Apts. Upper Allen Twp PA Multifamily 1 99% Bear Stearns
86 Lorna Lane Industrial Park Hoover AL Industrial 1 100% RFMSI
87 Maiden Choice Apartments Arbutus, MD Multifamily 1 98% Bear Stearns
88 Manchester Jacksonville FL Multifamily 1 100% PWRES
89 McKee Business Park - #1 Dover DE Industrial 1 97% Bear Stearns
90 Meadowood Temperance MI Multifamily 1 98% PWRES
91 Midtree/Phoenix Square Albuquerque NM Multifamily 1 89% PWRES
92 Military Crossing Norfolk VA Anchored Retail 1 79% Bear Stearns
93 Monarch Place Springfield MA Office 1 96% Bear Stearns
94 Monte Vista Apartments Phoenix AZ Multifamily 1 100% RFMSI
95 Montgomery Towne Square Montgomery NY Anchored Retail 1 96% RFMSI
96 Mosswood II Winter Springs FL Multifamily 1 100% PWRES
97 Murray Business Center Portland OR Office 1 100% Chase
98 National Freight Headquarters Waxahachie TX Industrial 1 100% Chase
99 National Wholesale Liquidators Middletown NY Single Tenant 1 100% Bear Stearns
Retail
100 Normandy Square Belmont CA Multifamily 1 98% Bear Stearns
101 Norriton Office Center Norristown PA Office 1 98% Chase
102 Northrup Court I Moon Township PA Multifamily 1 97% PWRES
103 Northwest Plaza Shoppnig Center Grapevine TX Anchored Retail 1 100% Bear Stearns
104 Northwinds Apartments Ferguson MO Multifamily 1 97% Chase
<PAGE>
<CAPTION>
Cut-Off Maturity Cut-Off Maturity
Balance % of Pool Coupon Date DSCR LTV LTV
- ----------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
5,843,625 0.72% 7.780% 10/1/07 1.65 62% 51%
6,795,871 0.83% 9.125% 4/1/09 1.65 73% 57%
2,052,669 0.25% 7.530% 11/1/07 1.46 65% 53%
1,242,519 0.15% 7.580% 9/1/07 1.87 62% 55%
698,536 0.09% 8.060% 10/1/07 1.80 52% 42%
7,065,000 0.87% 7.625% 12/1/07 1.22 68% 59%
11,192,142 1.37% 9.125% 1/1/07 1.48 50% 42%
747,826 0.09% 8.560% 9/1/07 1.52 62% 51%
4,375,000 0.54% 8.280% 12/1/07 1.75 67% 55%
18,231,193 2.24% 8.750% 8/1/07 1.42 70% 58%
5,995,875 0.74% 7.880% 11/1/07 1.68 59% 53%
6,227,674 0.77% 8.126% 9/1/07 1.26 80% 70%
2,144,690 0.26% 8.460% 8/1/07 1.33 72% 64%
5,100,000 0.63% 7.030% 12/1/07 2.13 42% 36%
1,198,732 0.15% 7.970% 11/1/07 1.33 74% 59%
3,570,823 0.44% 7.850% 10/1/07 1.36 79% 71%
1,325,000 0.16% 8.240% 12/1/07 1.19 75% 61%
1,444,017 0.18% 8.180% 8/1/07 1.53 66% 53%
1,294,430 0.16% 8.810% 1/1/07 1.33 81% 72%
7,178,006 0.88% 7.370% 11/1/12 1.64 61% 1%
1,340,000 0.16% 8.200% 7/1/07 1.32 85% 75%
4,125,073 0.51% 8.100% 11/1/02 1.23 65% 61%
6,587,961 0.81% 8.170% 10/1/07 1.43 51% 42%
18,980,890 2.33% 8.233% 8/1/07 1.72 56% 46%
1,146,542 0.14% 8.610% 7/1/07 1.48 68% 60%
8,400,000 1.03% 7.600% 12/1/07 1.45 69% 60%
1,534,000 0.19% 8.030% 8/1/07 1.47 75% 66%
12,796,599 1.57% 8.200% 8/1/07 1.27 75% 66%
3,377,387 0.41% 8.250% 8/1/07 1.28 75% 52%
2,996,742 0.37% 7.800% 11/1/07 1.56 46% 38%
5,300,000 0.65% 7.270% 12/1/07 1.50 55% 48%
5,668,100 0.70% 8.500% 10/1/07 1.29 77% 68%
1,376,967 0.17% 8.810% 1/1/07 1.45 85% 76%
3,797,323 0.47% 7.760% 11/1/07 1.63 67% 59%
8,473,385 1.04% 7.250% 11/1/07 1.27 80% 69%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
18
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
INDIVIDUAL MORTGAGE LOAN INFORMATION (CONTINUED)
# of
ID Deal Name City St. Property Type Prop Occ. Originator
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
105 Norwalk Town Square Norwalk CA Anchored Retail 1 92% Bear Stearns
106 Oak Knoll Apartments Atlanta GA Multifamily 1 96% RFMSI
107 Oakwood Village Apartments Atlanta/ Chamblee GA Multifamily 1 97% RFMSI
108 Old Orchard Shopping Center Santa Clarita CA Anchored Retail 1 94% Bear Stearns
109 One Munsey Court Munsey Park NY Anchored Retail 1 100% Chase
110 Orange Grove Shopping Center Lake Wales FL Anchored Retail 1 92% Chase
111 Palace Court Building Santa Fe NM Unanchored Retail 1 98% Bear Stearns
112 Paradise Plaza Sarasota FL Anchored Retail 1 96% RFMSI
113 Paragon Business Center Saugus CA Unanchored Retail 1 100% RFMSI
114 Park Apartments Dallas TX Multifamily 1 95% PWRES
115 Parkway Circle Apartments College Station TX Multifamily 1 99% Chase
116 Pfeiffer House Ltd. Philadelphia PA Multifamily 1 94% RFMSI
117 Printings House Apartments Philadelphia PA Multifamily 1 100% RFMSI
118 Prospect Park Apts. Bloomfield CT Multifamily 1 99% Bear Stearns
119 Ramada Rolling Green Andover MA Hotel 1 62% Chase
120 Redlands Park West Plaza Redlands CA Unanchored Retail 1 92% RFMSI
121 Ridgewood Westland Westland MI Multifamily 1 95% PWRES
122 Rio Del Oro Nacogdoches TX Multifamily 1 93% Chase
123 Riverside Shopping Plaza Cortland NY Anchored Retail 1 61% Bear Stearns
124 Route 6 Mall Honesdale PA Anchored Retail 1 92% RFMSI
125 Ruskin Place Apartments Kansas City MO Multifamily 1 90% Chase
126 Sandalwood Apts Toledo OH Multifamily 1 96% PWRES
127 Sawatch Range Apartments Leadville CO Multifamily 1 98% Chase
128 Scandia Knolls Poulsbo WA Multifamily 1 94% Chase
129 Scenictree Apartments Palos Hills IL Multifamily 1 97% PWRES
130 Seatree Apartments Seabrook TX Multifamily 1 91% PWRES
131 Second Street Plaza Hayward CA Office 1 89% PWRES
132 Shoprite Center Passaic NJ Anchored Retail 1 100% RFMSI
133 Signature Pointe Dallas TX Multifamily 1 95% Chase
134 Simpson Ridge Kissimmee FL Multifamily 1 98% Bear Stearns
135 Smoky Hill Village Arapahoe County CO Anchored Retail 1 100% Chase
136 Southfield Retail Center West Windsor NJ Anchored Retail 1 100% Bear Stearns
137 Southway Shopping Center Jonesboro GA Unanchored Retail 1 98% RFMSI
138 Spinghill Shopping Center Vallejo CA Anchored Retail 1 88% Bear Stearns
139 Springfield Apartments Durham NC Multifamily 1 91% RFMSI
<PAGE>
<CAPTION>
Cut-Off Maturity Cut-Off Maturity
Balance % of Pool Coupon Date DSCR LTV LTV
- ------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
20,986,193 2.58% 8.100% 11/1/12 1.39 75% 60%
1,356,110 0.17% 8.880% 5/1/07 1.39 71% 59%
7,418,675 0.91% 7.670% 11/1/04 1.30 80% 74%
8,429,458 1.04% 8.125% 10/1/07 1.27 75% 62%
12,833,132 1.58% 8.125% 10/1/07 1.34 73% 65%
3,441,973 0.42% 8.750% 8/1/04 1.24 64% 60%
1,683,243 0.21% 8.050% 11/1/07 1.53 67% 56%
8,697,248 1.07% 8.330% 7/1/04 1.22 74% 69%
895,806 0.11% 8.830% 7/1/07 1.29 71% 58%
1,149,153 0.14% 7.540% 11/1/07 1.49 82% 73%
4,809,007 0.59% 8.126% 7/1/07 1.25 79% 70%
1,188,509 0.15% 8.360% 10/1/04 1.37 74% 69%
878,898 0.11% 8.360% 10/1/04 1.44 72% 67%
2,170,000 0.27% 6.745% 12/1/07 2.17 60% 52%
3,341,307 0.41% 9.125% 1/1/07 1.30 57% 47%
1,487,159 0.18% 8.790% 3/1/07 1.43 52% 43%
1,200,000 0.15% 8.200% 7/1/07 1.49 69% 61%
3,764,026 0.46% 8.126% 8/1/07 1.25 78% 69%
4,350,000 0.53% 7.840% 12/1/07 1.34 67% 60%
5,006,181 0.62% 9.210% 5/1/04 1.32 69% 65%
1,988,637 0.24% 8.750% 6/1/04 1.32 64% 58%
1,105,000 0.14% 8.810% 1/1/07 1.32 85% 76%
2,560,534 0.31% 8.875% 8/1/07 1.32 73% 61%
2,095,914 0.26% 8.200% 9/1/07 1.24 74% 65%
10,458,421 1.28% 8.350% 4/1/01 1.43 73% 70%
4,536,225 0.56% 8.160% 4/1/00 1.64 63% 62%
1,447,091 0.18% 8.050% 9/1/07 1.30 68% 60%
6,769,431 0.83% 8.990% 4/1/07 1.40 71% 64%
14,379,608 1.77% 7.750% 10/1/02 1.21 80% 76%
3,013,981 0.37% 7.580% 9/1/07 1.82 59% 52%
1,886,363 0.23% 9.125% 4/1/07 1.28 73% 61%
7,800,000 0.96% 6.950% 12/1/07 1.87 55% 37%
1,672,427 0.21% 9.030% 7/1/04 1.38 68% 61%
4,134,219 0.51% 9.136% 5/1/07 1.29 69% 62%
10,492,469 1.29% 7.670% 11/1/04 1.28 79% 73%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
19
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
<TABLE>
<CAPTION>
INDIVIDUAL MORTGAGE LOAN INFORMATION (CONTINUED)
# of
ID Deal Name City St. Property Type Prop Occ. Originator
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
140 St. Mary's Physician Center Long Beach CA Office 1 65% Bear Stearns
141 Sterik II San Bernardino CA Single Tenant 1 100% Bear Stearns
Retail
142 Stonehenge Glasgow KY Multifamily 1 98% PWRES
143 Strathmore Regency Apartments Los Angeles CA Multifamily 1 98% RFMSI
144 Sturbridge Host Sturbridge MA Hotel 1 66% Chase
145 Sudie Crossing Shopping Center Dallas GA Unanchored Retail 1 100% RFMSI
146 Sunhill Properties Various CA Industrial 2 100% Bear Stearns
147 Sunshine Shopping Center Lehigh Acres FL Anchored Retail 1 90% RFMSI
148 Timber Ridge Townhomes New Castle County DE Multifamily 1 97% Bear Stearns
149 Town & Country Shopping Center Searcy AR Anchored Retail 1 96% Bear Stearns
150 University Club Apartments Huntsville TX Multifamily 1 98% Chase
151 UTC Computer Newington CT Office 1 100% Bear Stearns
152 Valley Plaza Hagerstown MD Anchored Retail 1 100% Chase
153 Venice Renaissance Venice CA Unanchored Retail 1 95% Bear Stearns
154 Village Shops of Crumpler Place Olive Branch MS Unanchored Retail 1 100% RFMSI
155 Wal-Mart Raleigh NC Single Tenant 1 100% PWRES
Retail
156 Wal-Mart Altoona PA Single Tenant 1 100% PWRES
Retail
157 Ward Plaza Los Angeles CA Anchored Retail 1 91% Bear Stearns
158 Warehousing of WI Package Various WI Industrial 5 100% Chase
159 West Of Eastland Columbus OH Multifamily 1 98% PWRES
160 Willow Run Madisonville KY Multifamily 1 92% PWRES
161 Willowood I Columbus IN Multifamily 1 92% PWRES
162 Willowood II Columbus IN Multifamily 1 97% PWRES
163 Willowtree Apartments Ann Arbor MI Multifamily 1 89% PWRES
164 Willowtree Towers Ann Arbor MI Multifamily 1 87% PWRES
165 Woodhill Apartments Augusta GA Multifamily 1 97% Bear Stearns
166 Woodway Inn-Bothell Bothell WA Congregate Care 1 100% Chase
167 Woodway Inn-Edmonds Edmonds WA Congregate Care 1 93% Chase
<PAGE>
<CAPTION>
Cut-Off Maturity Cut-Off Maturity
Balance % of Pool Coupon Date DSCR LTV LTV
- -------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
4,000,000 0.49% 7.520% 12/1/07 1.86 48% 42%
2,995,063 0.37% 8.250% 11/1/04 2.03 48% 39%
790,000 0.10% 8.200% 7/1/07 1.43 79% 70%
7,400,000 0.91% 7.080% 12/1/07 1.50 62% 54%
16,285,780 2.00% 9.125% 1/1/07 1.58 69% 58%
698,536 0.09% 8.060% 10/1/07 1.36 67% 54%
5,633,759 0.69% 8.060% 11/1/12 1.69 61% 1%
4,081,531 0.50% 8.980% 4/1/12 1.27 70% 56%
4,489,718 0.55% 7.960% 8/1/04 1.49 77% 73%
2,861,153 0.35% 8.125% 10/1/07 1.33 70% 61%
2,416,962 0.30% 8.126% 7/1/07 1.24 73% 65%
3,829,885 0.47% 8.630% 10/1/07 1.64 70% 56%
4,500,000 0.55% 7.600% 12/1/12 1.19 71% 0%
5,394,249 0.66% 8.195% 10/1/07 1.67 69% 62%
2,223,495 0.27% 7.960% 11/1/07 1.29 73% 64%
4,967,879 0.61% 9.000% 8/1/13 0.98 73% 0%
8,010,690 0.98% 7.750% 8/10/13 0.95 87% 0%
11,021,516 1.35% 8.522% 9/1/12 1.63 66% 54%
20,986,263 2.58% 8.125% 11/1/07 1.27 67% 59%
2,025,000 0.25% 8.200% 7/1/07 1.37 70% 62%
1,129,423 0.14% 8.810% 1/1/07 1.39 82% 74%
1,140,000 0.14% 9.030% 6/1/07 1.36 83% 74%
1,148,500 0.14% 9.030% 6/1/07 1.35 81% 73%
11,203,779 1.38% 7.570% 2/1/03 1.56 72% 67%
4,815,659 0.59% 7.570% 2/1/03 1.72 73% 68%
5,488,929 0.67% 7.665% 10/1/07 1.57 69% 57%
1,873,092 0.23% 8.200% 11/1/07 1.45 69% 56%
1,848,148 0.23% 8.300% 11/1/07 1.46 75% 61%
</TABLE>
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
<PAGE>
20
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-2
[THE NARRATIVE AND/OR TABULAR INFORMATION BELOW IS A FAIR AND ACCURATE
DESCRIPTION OF GRAPHIC OR IMAGE MATERIAL OMITTED FOR THE PURPOSE OF EDGAR
FILING.]
[GRAPHIC: MAP]
Geographic Overview of Mortgage Pool
Missouri Minnesota Illinois
3 loans 3 loans 3 loans
$12,459,623 $12,134,594 $18,446,737
1.53% of total 1.49% of total 2.27% of total
Wisconsin Michigan Indiana
1 loan 5 loans 2 loans
$20,986,263 $19,399,213 $2,288,500
2.58% of total 2.38% of total 0.28% of total
Ohio Pennsylvania New York
10 loans 10 loans 14 loans
$36,213,744 $47,522,653 $96,924,144
4.45% of total 5.84% of total 11.91% of total
Massachusetts Connecticut New Jersey
11 loans 3 loans 5 loans
$91,004,746 $9,486,725 $34,348,990
11.18% of total 1.17% of total 4.22% of total
Delaware Maryland Virginia
2 loans 3 loans 1 loan
$11,667,724 $10,325,143 $6,587,961
1.43% of total 1.27% of total 2.14%
North Carolina Georgia Florida
3 loans 12 loans 17 loans
$17,410,348 $33,764,342 $54,919,949
2.14% of total 4.15% of total 6.75% of total
Kentucky Alabama Mississippi
4 loans 1 loan 1 loan
$4,502,859 $1,325,000 $2,223,495
0.55% of total 0.16% of total 0.27% of total
Arkansas Texas Colorado
1 loan 16 loans 2 loans
$2,861,153 $73,870,064 $4,446,897
0.35% of total 9.08% of total 0.55% of total
New Mexico Arizona California
2 loans 6 loans 20 loans
$5,808,315 $23,639,168 $117,479,078
0.71% of total 2.90% of total 14.43% of total
Oregon Washington
1 loan 5 loans
$12,796,599 $29,148,346
1.57% of total 3.58% of total
- -------------------------------------------------------------------------------
The Underwriters make no representations as to the accuracy or completeness of
the information contained herein. The information contained herein is
qualified in its entirety by the information in the Prospectus and Prospectus
Supplement for this transaction. The information contained herein is
preliminary as of the date hereof and will be superseded by the applicable
final Prospectus and Prospectus Supplement and any other information
subsequently filed with the Securities and Exchange Commission. These
materials are subject to change, completion, or amendment from time to time
without notice, and the Underwriters are under no obligation to keep you
advised of such changes. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. Any
investment decision with respect to the securities should be made by you based
upon the information contained in the final Prospectus Supplement and
Prospectus relating to the securities. You should consult your own counsel,
accountant, and other advisors as to the legal, tax, business, financial and
related aspects of a purchase of these securities.
