<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) June 2, 1997
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (as depositor under the Pooling and
Servicing Agreement, dated as of June 1, 1997 providing for the issuance of
Chase Commercial Mortgage Securities Corp.'s Commercial Mortgage Pass-Through
Certificates, Series 1997-1)
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
--------------------- 10017-2951
(Address of Principal ----------
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 May 29, 1997 and a prospectus supplement, subject to
completion, dated May 29, 1997, the Registrant plans to issue approximately
$477,728,613 in aggregate principal amount of its Chase Commercial Mortgage
Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 1997-1
(the "Certificates") on or about June 30, 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, 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: June 3, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
- ----------- ----------- --------
99 Computational Materials, Structural Term 5
Sheets and Collateral Term Sheets, each
as prepared by the underwriters in
connection with the offering of the
Certificates
<PAGE>
5/30/97
NEW ISSUE - JUNE 1997
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
CCMSC 1997-1
$477.7MM 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/DCR NOTIONAL AMOUNT PRICE RATE LIFE* (YEARS)* MATURITY (BPS)****
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 AAA/AAA $100,600,000 101-11 7.33% 4.66YRS 0.05-7.05 7/2004 50 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
A-2 AAA/AAA $283,717,991 101-12 7.46% 9.30YRS 7.05-9.64 2/2007 65 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
X ---/AAA*** $533,774,986 7-29 VARIABLE** 8.99YRS 0.05-17.80 4/2015 210-230
(INTEREST ONLY) (TO
MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------------
B AA/AA $26,688,749 101-00 7.46% 9.74YRS 9.64-9.80 4/2007 70 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
C A/A $26,688,749 100-14 7.46% 9.80YRS 9.80-9.80 4/2007 78 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
D BBB/BBB $29,357,624 99-20 7.46% 9.87YRS 9.80-9.89 5/2007 90 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
E BBB-/BBB- $10,675,500 97-18 7.46% 10.02YRS 9.89-10.47 12/2007 120 AREA
- ---------------------------------------------------------------------------------------------------------------------------------
F Not Offered $29,357,624 N/A 7.46% 12.66yrs 10.47-14.30 10/2011 -
- ---------------------------------------------------------------------------------------------------------------------------------
G Not Offered $5,337,750 N/A 7.46% 14.38yrs 14.30-14.47 12/2011 -
- ---------------------------------------------------------------------------------------------------------------------------------
H Not Offered $8,006,625 N/A 7.46% 14.84yrs 14.47-14.89 5/2012 -
- ---------------------------------------------------------------------------------------------------------------------------------
I Not Offered $13,344,374 N/A 7.46% 15.19yrs 14.89-17.80 4/2015 -
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* ASSUMING NO PREPAYMENTS, MODIFICATIONS, LOSSES, EXTENSIONS, CLEAN-UP
CALLS AND THAT ALL LOANS BALLOON AT MATURITY.
** 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.
SETTLEMENT DATE: On or about June 30, 1997.
COLLATERAL: 107 Loans: approximately 34.1% Multifamily, 33.3%
Retail, 15.6% Office, 8.7% Hotel, 7.8% Industrial,
0.5% Mobile Home Community.
LOAN SELLERS: The Chase Manhattan Bank (57%), Bear, Stearns
Funding, Inc. (33%) and Paine Webber Real Estate
Securities Inc (10%).
WA DSCR / LTV: 1.46x / 66.05% at the Cut-off Date (51.58% 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: Midland Loan Services, L.P.
UNDERWRITERS: Chase Securities Inc., Bear, Stearns & Co. Inc.
and PaineWebber Incorporated.
CHASE SECURITIES INC. BEAR, STEARNS & CO. INC. PAINEWEBBER INCORPORATED
GREG MURPHY/MICHELLE MACKAY JIM REICHEK/JIM HIGGINS RENNY MENDEZ/JOHN OTIS
(212) 834-3813 (212) 272-5451 (212) 713-4002
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 BY THE DESCRIPTION OF THE MORTGAGE LOANS AND THE OTHER
INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS.
<PAGE>
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
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 9-11
VI SPONSOR CONCENTRATIONS 12
VII PREPAYMENT PREMIUMS & YIELD MAINTENANCE 13-16
VIII INDIVIDUAL LOAN INFORMATION 17-20
IX GEOGRAPHIC OVERVIEW MAP 21
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
SUBORDINATION LEVELS
<TABLE>
<CAPTION>
Initial Initial Initial
Credit WA WA
Support DSCR LTV
------- ---- ---
<S> <C> <C> <C> <C>
---------------------------- --------------------------------
CLASS A-1 CLASS X
28.0% 2.03x 48% $100.6MM1 $533.8MM
AAA/AAA2 (NOTIONAL)
---/AAA3
---------------------------- --------------------------------
-----------------------------------
28.0% 2.03x 48% CLASS A-2
$283.7MM
AAA/AAA
-----------------------------------
-----------------------------------
23.0% 1.90x 51% CLASS B
$26.7MM
AA/AA
-----------------------------------
-----------------------------------
18.0% 1.78x 54% CLASS C
$26.7MM
A/A
-----------------------------------
-----------------------------------
12.5% 1.67x 58% CLASS D
$29.4MM
BBB/BBB
-----------------------------------
-----------------------------------
10.5% 1.63x 59% CLASS E
$10.7MM
BBB-/BBB-
-----------------------------------
-----------------------------------
NON-OFFERED
CERTIFICATES
--- 1.46x 66% $56.0MM
(not offered by the
Prospectus Supplement)
----------------------------------- -------------------------
1-All class sizes are approximate 3-DCR only, not
2-(S&P/DCR) rated by S&P
</TABLE>
CHASE SECURITIES INC. BEAR, STEARNS & CO. INC. PAINEWEBBER INCORPORATED
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 BY THE DESCRIPTION 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 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. 1997-1
-------------------------------------------------
TRANSACTION SUMMARY
DEPOSITOR: Chase Commercial Mortgage Securities Corp.
OFFERED CERTIFICATES: Class A-1, Class A-2 (together the "Class A
Certificates"), Class X, Class B, Class C, Class
D, Class E.
LOAN SELLERS: The Chase Manhattan Bank (57%), Bear, Stearns
Funding,Inc. (33%) and Paine Webber Real Estate
Securities Inc. (10%).
RATING AGENCIES: Standard & Poor (S&P) / Duff & Phelps Credit
Rating Co. (DCR).
LEGAL STRUCTURE: Sequential pay REMIC classes rated AAA through
BBB- offered.
CUT-OFF DATE: June 1, 1997.
SETTLEMENT DATE: On or about June 30, 1997.
DISTRIBUTION DATE: Monthly on the 19th or the next business day. The
1st Distribution Date will occur on Monday, July
21st, 1997.
DELAY DAYS: 18.
SERVICER: The Chase Manhattan Bank.
SPECIAL SERVICER: Midland Loan Services, L.P.
TRUSTEE/FISCAL AGENT: LaSalle National Bank/ABN AMRO Bank N.V.
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.
UNDERWRITERS: Chase Securities Inc., Bear, Stearns & Co. Inc.
and PaineWebber Incorporated.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
CERTIFICATE STRUCTURE SUMMARY
DISTRIBUTION OF PRINCIPAL The Available Distribution Amount will be applied
AND INTEREST: as follows: (i) interest to the Class A and Class
X Certificates, pro rata; (ii) principal to the
Class A Certificates in reduction of their
principal 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; (iii) interest
to the Class B Certificates; (iv) principal to the
Class B Certificates until the Class B Certificate
Balance has been reduced to zero; and, (v)
distributions of interest and then principal
sequentially to the Class C through I Certificates
in the same manner as the Class B Certificates
described above.
See page S-62 of the preliminary Prospectus
Supplement.
ALLOCATION OF LOSSES: Realized losses from any Mortgage Loan will
generally be allocated in reverse alphabetical
order starting with Class I.
See page S-67 of the preliminary Prospectus
Supplement.
REPORTS TO The Paying Agent will furnish each
CERTIFICATEHOLDERS: Certificateholder with: (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.
Each quarter, the Servicer will provide a
financial market publisher, which is anticipated
to initially be Bloomberg, L.P., 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 that it has
received such information from the borrowers.
Certificateholders may obtain the same information
from the Servicer to the extent requested (at the
cost of the requesting party).
See page S-71 of the preliminary Prospectus
Supplement.
SERVICER ADVANCING: The Servicer will be required to make (i) P & I
Advances (excluding principal Balloon Payments)
and (ii) Servicing Advances through liquidation of
a Mortgage Loan, unless such Advances are
determined by the Servicer to be Nonrecoverable
Advances, and subject to the effect of any
Appraisal Reductions that may occur.
See page S-69 of the preliminary Prospectus
Supplement.
SPECIAL SERVICER When a loan is more than 60 days delinquent, or
RESPONSIBILITIES: 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.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
CERTIFICATE STRUCTURE SUMMARY (CONTINUED)
EXTENSION ADVISOR: The Class A, Class B, Class C, Class D and Class E
Certificateholders will be entitled to elect the
Extension Advisor. The initial Extension Advisor
will be the Trustee or its designee. The Special
Servicer will not be permitted to grant any
maturity extensions beyond the third anniversary
of the original maturity date without written
consent from the Extension Advisor.
See page S-81 of the preliminary Prospectus
Supplement.
APPRAISAL REDUCTIONS: An appraisal will be obtained by the Special
Servicer if a 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-70 of the preliminary Prospectus
Supplement.
PREPAYMENT PREMIUMS AND 100% of the Mortgage Loans have voluntary
CHARGES: prepayment protection during their terms. 11.3%
have prepayment protection which extends until
loan maturity, while the remaining 88.7% have
prepayment protection except for an open
prepayment period which is generally not more than
6 months prior to loan maturity (except for 1
Mortgage Loan, representing approximately 2.9% of
the Initial Pool Balance, which is prepayable 36
months prior to loan maturity). Of this 88.7% of
the Mortgage Loans, 6.6% have prepayment
protection which consists of a lock-out period
extending until the open prepayment period. 76.4%
of the Mortgage Loans have prepayment protection
consisting of a lock-out period followed by yield
maintenance until the open prepayment period. The
remaining 5.7% of the Mortgage Loans have either a
lock-out period and/or a yield maintenance period
followed by a prepayment premium period until the
open prepayment period.
See page S-36 of the preliminary Prospectus
Supplement.
DEFEASANCE: Approximately $56,195,806, or 10.5% of the
Mortgage Loans are locked out from prepayment
until a period 6 months or less prior to their
respective maturity dates. These loans provide for
defeasance whereby the related borrower has the
option to obtain the release of the lien of the
Mortgage on the related Mortgaged Property by
substituting U.S. Treasury securities which
provide for payments on or prior to each Monthly
Payment date and the Maturity Date of amounts at
least equal to the amounts otherwise payable on
each such date under the terms of the related
Mortgage Loan (including principal, interest and
Balloon Payments).
See page S-41 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-54 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 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. 1997-1
-------------------------------------------------
MORTGAGE LOAN/COLLATERAL SUMMARY
MORTGAGE POOL: The Mortgage Pool will consist of 59 commercial
and 48 multifamily fixed-rate Mortgage Loans with
an Initial Pool Balance of approximately
$533,774,987. See the following three pages for
more detail on the Mortgage Loans.
CUT-OFF BALANCE: $533,774,987.
AVERAGE LOAN SIZE: $4,988,551.
WA COUPON: 8.85%.
WA DSC: 1.46x.
WA LTV AT CUT-OFF: 66.05%.
WA LTV AT MATURITY: 51.58%.
PROPERTY LOCATIONS: Properties are located in 24 states with the
largest concentrations in New York (22%),
California (12%), and Massachusetts (11%).
LARGEST LOANS: The largest loan represents approximately 4.95% of
the Initial Pool Balance; the three largest loans
represent 11.84%; the ten largest loans represent
28.50%.
SPONSOR CONCENTRATIONS: The only sponsor concentration in excess of 5% of
the Initial Pool Balance consists of four Holiday
Inn loans managed by Fine Hotels, Inc. and owned
by affiliated special purpose entities.
LOAN MATURITIES: Approximately 76% of the mortgage loans have
original maturities of ten years, 12% of the
mortgage loans have original maturities of 15
years, 7% of the mortgage loans have original
maturities of 7 years and the remaining 5% of the
mortgage loans have original maturities ranging
between 5 and 18 years.
WA LOAN MATURITY: 10.1 years.
BALLOON PAYMENTS: Approximately 93.7% of the mortgage loans require
balloon payments at maturity, the remaining 6.3%
are fully amortizing.
AMORTIZATION: Approximately 85% of the Mortgage Loans require
constant monthly payments of principal and
interest based on 25- or 30-year amortization
schedules (of these, 4.73% pay interest only for
36 months from origination, and then pay principal
and interest based on a 25-year amortization
schedule). Approximately 14% of the Mortgage Loans
require constant monthly payments of principal and
interest based on 15- to 20-year amortization
schedules. One mortgage loan, representing
approximately 1% of the initial pool balance,
requires monthly payments of interest only until
maturity.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
<TABLE>
<CAPTION>
PROPERTY TYPE CONCENTRATIONS
----------------------------
AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
PROPERTY TYPE NUMBER OF PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Multifamily 51 $181,817,526 34.06%
Retail, Anchored 26 137,406,326 25.74
Office 13 83,442,341 15.63
Hotel 8 46,641,052 8.74
Industrial 6 41,411,204 7.76
Retail, Unanchored 8 30,604,701 5.73
Retail, Single Tenant 2 9,966,763 1.87
Mobile Home 1 2,485,073 0.47
- --------------------------------------------------------------------------------------------------------
TOTAL 115 $533,774,987 100%
</TABLE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION
-----------------------
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
STATE LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
New York 20 / 25 $115,515,010 21.64%
California 9 / 9 64,807,462 12.14
Massachusetts 8 / 8 58,467,203 10.95
Pennsylvania 5 / 5 50,796,561 9.52
New Jersey 6 / 7 35,727,119 6.69
Texas 10 / 10 34,852,910 6.53
Illinois 4 / 4 26,721,849 5.01
Nevada 2 / 2 25,169,555 4.72
Michigan 7 / 7 24,387,177 4.57
15 Other States 36 / 38 97,330,141 18.23
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
<TABLE>
<CAPTION>
MORTGAGE RATES AS OF THE CUT-OFF DATE
-------------------------------------
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
MORTGAGE RATES LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7.570%-8.249% 5 / 5 $26,165,213 4.90%
8.250%-8.499% 7 / 7 64,572,932 12.10
8.500%-8.749% 21 / 23 101,631,706 19.04
8.750%-8.999% 31 / 32 123,218,880 23.08
9.000%-9.249% 25 / 30 141,282,356 26.47
9.250%-9.499% 11 / 11 47,421,072 8.88
9.500%-9.750% 7 / 7 29,482,827 5.52
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
THE WEIGHTED AVERAGE MORTGAGE RATE AS OF THE CUT-OFF DATE IS 8.85%.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
<TABLE>
<CAPTION>
CUT-OFF DATE BALANCES
---------------------
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
CUT-OFF DATE BALANCES LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<C> <C> <C> <C>
$ 596,962 - $ 2,000,000 26 / 27 $31,533,355 5.91%
$ 2,000,001 - $ 4,000,000 35 / 37 101,555,503 19.03
$ 4,000,001 - $ 6,000,000 12 / 17 57,551,994 10.78
$ 6,000,001 - $ 8,000,000 15 / 15 107,929,705 20.22
$ 8,000,001 - $10,000,000 7 / 7 61,947,641 11.61
$10,000,001 - $15,000,000 7 / 7 79,557,932 14.90
$15,000,001 - $26,416,487 5 / 5 93,698,856 17.55
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
THE AVERAGE CUT-OFF DATE BALANCE IS $4,988,551.
<TABLE>
<CAPTION>
DEBT SERVICE COVERAGE RATIOS AS OF THE CUT-OFF DATE*
----------------------------------------------------
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
RANGE OF DSCRS LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.8677x to 0.9999x 1 / 1 $2,060,824 0.39%
1.0000x to 1.1999x 3 / 3 9,894,871 1.85
1.2000x to 1.2999x 26 / 26 117,926,576 22.09
1.3000x to 1.3999x 30 / 31 143,991,964 26.98
1.4000x to 1.4999x 20 / 25 99,590,220 18.66
1.5000x to 1.5999x 14 / 16 82,655,391 15.49
1.6000x to 3.9705x 13 / 13 77,655,142 14.55
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
*ALL DSCRS ARE CALCULATED TO INCLUDE PRINCIPAL AND INTEREST PAYMENTS AS
DESCRIBED ON PAGE S-45 OF THE PRELIMINARY PROSPECTUS SUPPLEMENT. THE WEIGHTED
AVERAGE DSCR AS OF THE CUT-OFF DATE IS 1.46X.
<TABLE>
<CAPTION>
RANGE OF LOAN TO VALUE RATIOS AS OF THE CUT-OFF DATE
----------------------------------------------------
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
LTV RATIOS LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
26.45% to 59.99% 17 / 17 $113,239,292 21.21%
60.00% to 64.99% 19 / 24 77,267,842 14.48
65.00% to 69.99% 20 / 20 117,071,978 21.93
70.00% to 73.32% 16 / 17 96,296,980 18.04
73.33% to 76.65% 17 / 19 69,194,761 12.96
76.66% to 79.99% 7 / 7 44,275,582 8.29
80.00% to 85.00% 11 / 11 16,428,550 3.08
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
THE WEIGHTED AVERAGE LTV AS OF THE CUT-OFF DATE IS 66.05%.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
MORTGAGE LOAN/COLLATERAL SUMMARY (CONTINUED)
<TABLE>
<CAPTION>
RANGE OF LOAN TO VALUE RATIOS AS OF THE MATURITY DATE
NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
LTV RATIOS LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.00% to 39.99% 13 / 13 $102,657,364 19.23%
40.00% to 49.99% 12 / 12 66,677,206 12.49
50.00% to 54.99% 16 / 19 60,087,059 11.26
55.00% to 59.99% 19 / 22 115,219,356 21.59
60.00% to 64.99% 15 / 17 60,253,561 11.29
65.00% to 69.99% 17 / 17 104,154,790 19.51
70.00% to 75.96% 15 / 15 24,725,651 4.63
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
THE WEIGHTED AVERAGE LTV AS OF THE MATURITY DATE IS 51.58%.
<TABLE>
<CAPTION>
RANGE OF REMAINING TERM TO MATURITY
-----------------------------------
RANGE OF REMAINING NUMBER OF MORTGAGE AGGREGATE CUT-OFF DATE PERCENTAGE OF INITIAL
TERMS (MOS.) LOANS/PROPERTIES BALANCE POOL BALANCE
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
51 to 72 5 / 5 $27,403,451 5.13%
73 to 108 7 / 7 23,620,193 4.43
109 to 112 16 / 16 76,082,893 14.25
113 to 116 49 / 55 219,189,773 41.06
117 to 120 19 / 21 101,491,443 19.01
121 to 180 9 / 9 72,133,056 13.51
181 to 214 2 / 2 13,854,178 2.60
- --------------------------------------------------------------------------------------------------------
TOTAL 107 / 115 $533,774,987 100%
</TABLE>
THE WEIGHTED AVERAGE REMAINING TERM TO MATURITY AS OF THE
CUT-OFF DATE IS 121 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 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. 1997-1
-------------------------------------------------
TEN LARGEST MORTGAGE LOANS
<TABLE>
<CAPTION>
% OF STATED CUT-OFF MATURITY
AGGREGATE REMAINING DATE DATE
AGGREGATE CUT-OFF MORTGAGE TERM LTV LTV
DEAL NAME CUT-OFF DATE DATE RATE (MOS.) DSCR RATIO RATIO
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Chestnut Hill Village $26,416,486 4.95% 8.38% 115 1.31x 77.24% 68.49%
Southtown Plaza 18,471,079 3.46 8.66 179 1.55 46.18 19.72
Harbor Island Apartments 18,289,899 3.43 8.95 119 2.03 42.93 38.38
J. Baker Corporate Facility 15,292,098 2.86 9.00 175 1.33 72.82 0.00
390 Fifth Avenue 15,229,293 2.85 8.88 115 1.29 71.50 59.26
Warner Financial & Medical Plaza 13,974,727 2.62 8.95 118 1.34 68.17 56.44
Cummins Station 12,000,000 2.25 8.44 180 1.62 55.81 43.50
The Puck Building 10,922,208 2.05 9.22 172 1.59 60.68 40.82
Holmdel Plaza 10,788,058 2.02 8.96 118 1.41 70.05 62.67
Foothills Apartments 10,756,999 2.02 8.40 116 1.23 58.15 47.62
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE $152,140,849 28.50% 8.75% 139 1.47X 62.75% 44.19%
</TABLE>
DESCRIPTION:
Chestnut Hill Village (4.95%) Chestnut Hill Village is an 834-unit
multifamily property situated on 31.2 acres of land, consisting of 821
residential & 13 commercial units on the following three non-contiguous
sites constructed in 1965, 1968 and 1972: The Village, 14 three-story
elevatored buildings containing 564 residential units and 13 commercial
units; The Manor, nine two-story buildings containing 140 residential
units; and The Towne Homes, 27 two-story buildings containing 117 townhouse
units with basements. The property contains 820,208 square feet of net
rentable area. The property is located on Stenton Avenue in the Chestnut
Hill neighborhood of suburban Philadelphia, Pennsylvania. Chestnut Hill
Village was 96% occupied as of February 25, 1997.
Southtown Plaza (3.46%) Southtown Plaza is an anchored community shopping
center situated on 44 acres of land. It was built in 1955 and renovated in
1995. The property, which contains 51 tenants, is anchored by Burlington
Coat Factory, The Musicland Group-Media Play, Vix Drug Store, Computer
City, Dunhams Athleisure, Linens & Things, Jo-Anne Fabrics, Office Max and
The Gap. The site consists of three one-story buildings with a total of
497,639 net rentable square feet. The property is located at the southwest
corner of Jefferson Road and West Henrietta Road in Henrietta, New York.
Southtown Plaza was 89.5% occupied as of January 21, 1997.
Harbor Island Apartments (3.43%) Harbor Island Apartments is a 996-unit
multifamily property consisting of 18 three-story buildings situated on
21.19 acres of land. The buildings were constructed in 1988 and have a
total net rentable area of 362,970 square feet. The property is located on
East Harmon Avenue in Las Vegas, Nevada, approximately 3/4 of a mile east
of Las Vegas Boulevard (also known as the "Strip"). Harbor Island
Apartments was 98.5% occupied as of January 31, 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 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. 1997-1
-------------------------------------------------
TEN LARGEST MORTGAGE LOANS (CONTINUED)
J. Baker Corporate Facility (2.86%) J. Baker Corporate Facility is a
two-story industrial building situated on 37.88 acres of land. It was built
in 1962 and renovated in 1993. The building is an owner-occupied facility
which also serves as the corporation's headquarters. It has 755,100 square
feet of net rentable square feet, of which 80% is warehouse/distribution
space, and the remaining 20% is office space. The property is located on
Turnpike Street (Route 109) in Canton, Massachusetts, approximately 10
miles south of downtown Boston. J. Baker, which has an implied Senior Debt
rating from S&P of B+, is a diversified retailer of footwear and apparel.
J. Baker Corporate Facility was 100% owner-occupied as of November 7, 1996.
390 Fifth Avenue (2.85%) 390 Fifth Avenue is a nine-story office building
built in 1906 and most recently renovated in 1993. The property contains
107,497 net rentable square feet of office space leased by 39 tenants, and
14,800 net rentable square feet of retail space leased by 3 tenants, for a
total of 122,297 net rentable square feet. The property is located on Fifth
Avenue at 36th Street in New York City, in an area known as the "garment
center" of Manhattan. 390 Fifth Avenue was 100% occupied as of March 31,
1997.
Warner Financial & Medical Plaza (2.62%) Warner Financial & Medical Plaza
is a two-building office complex situated on five acres of land. It was
built in 1966 and renovated in 1995. The complex consists of the five-story
General Office Building containing 93,428 net rentable square feet occupied
by 43 tenants, and the five-story Medical Office Building containing 64,343
net rentable square feet occupied by 42 tenants, for a total of 157,771 net
rentable square feet occupied by 85 tenants. The property is located on
Topanga Canyon Boulevard, in the district of Woodland Hills in Los Angeles,
California. Warner Financial & Medical Plaza was 86% occupied as of
December 31, 1996.
Cummins Station (2.25%) Cummins Station is a five-story office building
situated on 4.5 acres of land. It was built in 1907 and completely
renovated and converted to office use in 1993. The building contains
400,000 net rentable square feet and is occupied by approximately 150
tenants. The property is located on 10th Avenue South in Nashville,
Tennessee less than two blocks from the Nashville CBD. Cummins Station was
93.5% occupied as of March 1, 1997.
The Puck Building (2.05%) The Puck Building is a nine-story office building
situated on 0.5 acres of land; built in 1886 with an addition in 1892, and
renovated in 1996. It is a national landmark listed on the National
Register of Historic Places. The building contains 175,325 net rentable
square feet of office space and 20,000 net rentable square feet of retail
space leased by 14 tenants, for a total of 195,325 net rentable square
feet. The property encompasses a full city block in the SoHo district of
New York City and is bounded by Lafayette, Houston, Mulberry and Jersey
Streets. The Puck Building was 100% occupied as of March 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 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. 1997-1
-------------------------------------------------
TEN LARGEST MORTGAGE LOANS (CONTINUED)
Holmdel Plaza (2.02%) Holmdel Plaza is a one-story community shopping
center situated on 22.58 acres of land. The property, which was built in
1986, consists of 184,289 square feet of net rentable area, including 24
retail units, one developed pad site and 926 parking spaces and is anchored
by Caldor's and T.J.Maxx. The Caldor lease is guaranteed by The May
Department Stores Company. The property is located at the intersection of
Union Road and Route 35 in Holmdel, New Jersey. Holmdel Plaza was 95.7%
occupied as of February 21, 1997.
Foothills Apartments (2.02%) Foothills Apartments is a 180-unit
garden-style multifamily property consisting of 17 two-story buildings and
situated on approximately 7.3 acres of land. The buildings were constructed
in 1970 and have a total net rentable area of approximately 178,625 square
feet. The property is located on Camino Verde Drive in San Jose,
California. Foothills Apartments was 96% occupied as of February 28, 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 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. 1997-1
-------------------------------------------------
SPONSOR CONCENTRATIONS (greater than)5% OF CUT-OFF BALANCE
DESCRIPTION:
The Mortgage Pool contains only one sponsor concentration in excess of 5%
of the Cut-off Balance. This concentration consists of four Mortgage Loans
with a Stated Principal Balance as of the Cut-Off Date of approximately
$32,973,121, which represents 6.18% of the Initial Pool Balance. All of
these Mortgage Loans are managed by Fine Hotels, Inc. and are secured by
the Holiday Inn hotel properties listed below. Fine Hotels, Inc. manages
over 1,800 full service hotel rooms in the northeastern United States.
<TABLE>
<CAPTION>
% of Initial
Cut-off Pool Months to Cut-Off Maturity
City, State Balance Balance Coupon Maturity DSCR LTV LTV
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Boxborough, MA $7,874,921 1.48% 9.125% 115 1.54x 69.7% 58.1%
Harrisburg, PA 10,453,435 1.96 9.125 115 1.46 67.4 56.2
Mansfield, MA 10,662,504 2.00 9.125 115 1.66 69.7 58.1
Worcester, MA 3,982,261 0.75 9.125 115 1.40 57.7 48.1
-------------------------------------------------------------------------------------------
TOTAL $32,973,121 6.18% 9.125% 115 1.54x 67.5% 56.3%
</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 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. 1997-1
-------------------------------------------------
PREPAYMENT PREMIUMS AND YIELD MAINTENANCE CHARGES
RESTRICTIONS:
ALL OF THE LOANS HAVE PREPAYMENT PROTECTION, TYPICALLY A LOCKOUT PERIOD
FOLLOWED BY A YIELD MAINTENANCE PERIOD AND/OR A FIXED PERCENTAGE PENALTY PERIOD
THEREAFTER. 11.26% of the loans are locked out or require Yield Maintenance
until their stated maturities, 85.88% of the loans become freely prepayable
between 3-6 months prior to their stated maturities and the remaining 2.86% of
the loans become freely prepayable 36 months prior to their stated maturities.
ALLOCATION OF PREMIUMS AND CHARGES:
Prepayment Premiums: 25% of Prepayment Premiums will be allocated on any
distribution date, pro-rata, to the Class A, B, C, D and E Certificate
holders based on principal distributed to such class. 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-66 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-66 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 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
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-1
-------------------------------------------------
PERCENTAGE OF REMAINING POOL BALANCE SUBJECT TO PREPAYMENT RESTRICTIONS
(DOLLAR AMOUNTS EXPRESSED IN MILLIONS)
<TABLE>
<CAPTION>
IPB Outstanding Prepayment Restrictions Applicable to IPB Outstanding on
Each Anniversary of the Cut-off Date
- -----------------------------------------------------------------------------------------------------------------------------------
Yield Prepayable Without
Initial Amount of IPB Outstanding Lockout Maintenance Charges Prepayment Penalty Premium or Charge
Pool IPB -------------------------------------------------------------------------------------------------------
Date Balance Matured Amount % IPB Amount % IPB Amount % IPB Amount % IPB Amount % IPB
- -----------------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
6/1/97 $533.8 $0.0 $533.8 100% $529.0 99.1% $4.7 0.9% $0.0 0.0% $0.0 0.0%
6/1/98 533.8 6.3 527.4 99% 500.5 94.9% 27.0 5.1% 0.0 0.0% 0.0 0.0%
6/1/99 533.8 13.3 520.5 98% 458.6 88.1% 61.9 11.9% 0.0 0.0% 0.0 0.0%
6/1/00 533.8 20.9 512.8 96% 166.2 32.4% 340.1 66.3% 6.5 1.3% 0.0 0.0%
6/1/01 533.8 29.5 504.3 94% 131.8 26.1% 363.1 72.0% 6.4 1.3% 3.0 0.6%
6/1/02 533.8 46.6 487.2 91% 100.7 20.7% 380.2 78.0% 6.3 1.3% 0.0 0.0%
6/1/03 533.8 74.7 459.0 86% 98.2 21.4% 351.0 76.5% 7.8 1.7% 2.0 0.4%
6/1/04 533.8 100.5 433.2 81% 49.7 11.5% 373.9 86.3% 9.7 2.2% 0.0 0.0%
6/1/05 533.8 112.0 421.8 79% 47.9 11.4% 364.6 86.4% 7.8 1.8% 1.6 0.4%
6/1/06 533.8 130.4 403.4 76% 42.7 10.6% 255.2 63.3% 16.4 4.1% 89.1 22.1%
6/1/07 533.8 475.7 58.1 11% 23.6 40.6% 27.6 47.5% 6.9 12.0% 0.0 0.0%
6/1/08 533.8 480.1 53.7 10% 22.5 41.9% 24.7 46.0% 6.5 12.1% 0.0 0.0%
6/1/09 533.8 490.1 43.7 8% 21.3 48.8% 17.2 39.5% 0.8 1.8% 4.3 9.9%
6/1/10 533.8 495.1 38.7 7% 20.0 51.8% 15.4 39.8% 0.5 1.2% 2.8 7.2%
6/1/11 533.8 500.6 33.2 6% 18.6 56.3% 5.8 17.6% 0.0 0.0% 8.7 26.1%
6/1/12 533.8 531.5 2.3 0% 0.0 0.0% 2.3 100.0% 0.0 0.0% 0.0 0.0%
6/1/13 533.8 532.4 1.3 0% 0.0 0.0% 1.3 100.0% 0.0 0.0% 0.0 0.0%
6/1/14 533.8 533.1 0.6 0% 0.0 0.0% 0.6 100.0% 0.0 0.0% 0.0 0.0%
</TABLE>
- --------------
As used above, "IPB" means Initial Pool Balance.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
PREPAYMENT PROTECTION ON THE MORTGAGE LOANS
[GRAPHIC OMITTED]
*6/1/07 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 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. 1997-1
-------------------------------------------------
PREPAYMENT RESTRICTIONS IN EFFECT AS OF THE CUT-OFF DATE
--------------------------------------------------------
<TABLE>
<CAPTION>
ORIGINAL AGGREGATE
TERM TO NUMBER CUT-OFF PERCENTAGE
MATURITY OF DATE OF INITIAL LOCKOUT
(MOS.) LOANS BALANCE POOL BALANCE PERIOD
- ------------------------------------------------------------
<S> <C> <C> <C> <C>
60 2 $7,945,358 1.49% 0/24
84 6 27,277,152 5.11% 23/35
84 1 9,000,000 1.69% 83
120 1 1,740,215 0.33% 0
120 72 325,428,420 60.97% 23/83
120 10 40,860,198 7.65% 35/83
120 2 18,811,684 3.52% 83
120 2 16,724,727 3.13% 113/116
144 2 6,738,162 1.26% 35
180 3 16,510,217 3.09% 47/107
180 1 15,292,098 2.86% 59
180 1 3,121,499 0.58% 83
180 2 30,471,079 5.71% 173/179
192 1 6,879,656 1.29% 119
216 1 6,974,522 1.31% 59
-------------------- ---------
107 $533,774,987 100%
</TABLE>
(TABLE RESTUBED FROM ABOVE)
<TABLE>
<CAPTION>
YIELD MAINTENANCE PREPAYMENT
CHARGES PREMIUMS
ORIGINAL ----------------- ----------------
TERM TO AND/OR
MATURITY BEGIN END BEGIN END FREELY
(MOS.) YIELD MAINTENANCE CHARGE OR PREPAYMENT PREMIUM DESCRIPTION MONTH MONTH MONTH MONTH PREPAYABLE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <S> <C> <C> <C> <C> <C>
60 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 1/25 56 N/A N/A 3 mos.
84 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 24/36 77/83 N/A N/A 0/6 mos.
84 N/A 0 mos.
120 (greater than) of (i) 3% of UPB or (ii) Yield Maintenance Charge 1 84 85 113 6 mos.
for the first 7 years, then fixed at 3% in year 8,
2% in year 9 and 1% in year 10
120 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 24/84 113/119 N/A N/A 0/6 mos.
120 (greater than) of (i) 3% of UPB or (ii) Yield Maintenance Charge 36/84 113/119 N/A N/A 0/6 mos.
120 (greater than) of (i) 3% of UPB or (ii) Yield Maintenance Charge 84 108 109 113 6 mos.
for the first 9 years, then fixed at 1% in year 10
120 N/A 3/6 mos.
144 Fixed at 5% in years 4-6, then 4% in year 7, then 3% N/A N/A 36 140 3 mos.
in year 8, then 2% in year 9 and then 1% in years
10-12
180 (greater than) of (i) 3% of UPB or (ii) Yield Maintenance Charge 48/108 173/176 N/A N/A 3/6 mos.
180 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 60 143 N/A N/A 36 mos.
180 Fixed at 5% in years 8-11, then 4% in year 12, then N/A N/A 84 173 6 mos.
3% in year 13, then 2% in year 14 and 1% in year 15
180 N/A 0/6 mos.
192 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 120 188 N/A N/A 3 mos.
216 (greater than) of (i) 1% of UPB or (ii) Yield Maintenance Charge 60 212 N/A N/A 3 mos.
</TABLE>
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 unpaid principal balance.
- -------------------------------------------------------------------------------
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 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. 1997-1
-------------------------------------------------
INDIVIDUAL LOAN INFORMATION
<TABLE>
<CAPTION>
# of Cut-Off
ID Deal Name City St. Property Type Prop. Occ. Originator Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 11 West 34th Street New York NY Retail, Single 1 100% Chase $2,992,241
Tenant
2 1300 Piccard Drive Rockville MD Office 1 100% BSFI 5,057,210
3 1430 Third Avenue New York NY Multifamily 1 100% BSFI 1,883,560
4 223 Slater Street and 372 Grand Avenue Paterson / NJ Multifamily 2 100% Chase 1,777,842
Leonia
5 225 Underhill Boulevard Syosset NY Industrial 1 100% Chase 2,506,729
6 361 Newbury Street Boston MA Retail, Unanchored 1 99% Chase 6,987,724
7 38-20 Review Avenue Long Island NY Industrial 1 100% Chase 5,961,684
City
8 390 Fifth Avenue New York NY Office 1 100% Chase 15,229,293
9 400 Rugby Road Brooklyn NY Multifamily 1 100% BSFI 2,774,416
10 50 Spring Street Ramsey NJ Industrial 1 100% Chase 3,967,882
11 701 64th Street Brooklyn NY Office 1 100% Chase 7,933,376
12 797 Third Avenue New York NY Retail, Single 1 100% Chase 6,974,522
Tenant
13 Ames Plaza Geneseo Geneseo NY Retail, Anchored 1 100% Chase 1,353,936
14 Ames Plaza Lowville Lowville NY Retail, Anchored 1 100% Chase 1,818,418
15 Ames Plaza Plattsburgh Plattsburgh NY Retail, Anchored 1 98% Chase 2,311,791
16 Annhurst Indianapolis IN Multifamily 1 92% PWREI 1,275,000
17 Applecreek Apartments Round Rock TX Multifamily 1 92% Chase 3,158,845
18 Appletree Apartments Ypsilanti MI Multifamily 1 94% Secore 9,482,116
19 Arbor Glen West Covina CA Multifamily 1 98% Chase 5,600,000
20 Armada/Hoffler Portfolio Multiple VA Retail, Unanchored 3 91% BSFI 4,445,222
21 Ashgrove II Sterling Hts. MI Multifamily 1 93% PWREI 2,301,646
22 Baldwin Plaza Shopping Center Parsippany NJ Retail, Anchored 1 95% BSFI 3,796,733
23 Bedford Hills Shopping Center Bedford NY Retail, Anchored 1 98% Chase 7,456,512
24 Belair Plaza Philadelphia PA Retail, Anchored 1 92% BSFI 2,181,096
25 Bordeaux Apartments Bellmead TX Multifamily 1 98% BSFI 2,575,750
26 Brick Church Plaza East Orange NJ Retail, Anchored 1 96% BSFI 9,185,705
27 Buena Vista Springs North Las Vegas NV Multifamily 1 99% Chase 6,879,656
28 Buffalo Creek Buffalo Grove IL Multifamily 1 100% Chase 3,957,120
29 Bulls Head Plaza Rochester NY Office 1 100% Chase 3,000,094
30 Candlelight I Brooksville FL Multifamily 1 88% PWREI 606,065
31 Candlelight II Brooksville FL Multifamily 1 85% PWREI 600,666
32 Carrollton Park Carrollton TX Retail, Anchored 1 93% BSFI 2,687,243
</TABLE>
(TABLE RESTUBED FROM ABOVE)
<TABLE>
<CAPTION>
% of Maturity Cut-Off Maturity
ID Deal Name Pool Coupon Date DSCR LTV LTV
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 11 West 34th Street 0.56% 9.250% 3/1/07 1.38 66% 55%
2 1300 Piccard Drive 0.95% 9.580% 8/1/06 1.31 67% 57%
3 1430 Third Avenue 0.35% 9.393% 8/1/06 1.39 57% 48%
4 223 Slater Street and 372 Grand Avenue 0.33% 8.750% 12/1/06 1.35 72% 59%
5 225 Underhill Boulevard 0.47% 9.625% 7/1/06 1.51 62% 52%
6 361 Newbury Street 1.31% 9.125% 4/1/07 1.45 70% 58%
7 38-20 Review Avenue 1.12% 9.000% 11/1/06 1.71 48% 40%
8 390 Fifth Avenue 2.85% 8.875% 1/1/07 1.29 71% 59%
9 400 Rugby Road 0.52% 9.060% 8/1/06 1.29 79% 66%
10 50 Spring Street 0.74% 9.000% 4/1/07 1.26 63% 52%
11 701 64th Street 1.49% 9.625% 8/1/06 1.39 71% 60%
12 797 Third Avenue 1.31% 9.250% 4/1/15 1.23 68% 0%
13 Ames Plaza Geneseo 0.25% 9.125% 9/1/06 1.41 64% 54%
14 Ames Plaza Lowville 0.34% 8.625% 12/1/06 1.71 57% 51%
15 Ames Plaza Plattsburgh 0.43% 8.750% 12/1/06 1.36 75% 62%
16 Annhurst 0.24% 8.630% 3/1/07 1.16 71% 63%
17 Applecreek Apartments 0.59% 8.500% 4/1/07 1.35 65% 53%
18 Appletree Apartments 1.78% 7.570% 2/1/03 1.60 70% 65%
19 Arbor Glen 1.05% 9.125% 6/1/07 1.33 73% 65%
20 Armada/Hoffler Portfolio 0.83% 9.101% 4/1/07 1.43 64% 58%
21 Ashgrove II 0.43% 8.810% 1/1/07 1.39 84% 75%
22 Baldwin Plaza Shopping Center 0.71% 9.220% 5/1/07 1.42 58% 49%
23 Bedford Hills Shopping Center 1.40% 8.625% 12/1/06 1.40 67% 55%
24 Belair Plaza 0.41% 9.435% 8/1/03 1.47 61% 55%
25 Bordeaux Apartments 0.48% 9.130% 8/1/06 1.29 80% 73%
26 Brick Church Plaza 1.72% 9.320% 10/1/06 1.37 62% 52%
27 Buena Vista Springs 1.29% 8.750% 11/1/12 1.16 64% 0%
28 Buffalo Creek 0.74% 8.232% 1/1/07 1.30 67% 59%
29 Bulls Head Plaza 0.56% 9.750% 6/1/06 1.70 53% 45%
30 Candlelight I 0.11% 8.810% 1/1/07 1.41 76% 68%
31 Candlelight II 0.11% 8.810% 1/1/07 1.37 71% 63%
32 Carrollton Park 0.50% 8.740% 1/1/07 1.65 62% 51%
</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 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. 1997-1
-------------------------------------------------
INDIVIDUAL LOAN INFORMATION (CONTINUED)
<TABLE>
<CAPTION>
# of Cut-Off
ID Deal Name City St. Property Type Prop. Occ. Originator Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
33 Cedargate I Englewood Clayton OH Multifamily 1 100% PWREI $1,237,463
34 Centerpoint Shopping Center Waco TX Retail, Anchored 1 95% BSFI 2,692,685
35 Cervinka Portfolio Bronx NY Multifamily 3 96% BSFI 3,984,861
36 Charlottesville Shoppers World Charlottesville VA Retail, Anchored 1 100% Chase 4,757,133
37 Chestnut Hill Village Philadelphia PA Multifamily 1 96% Chase 26,416,486
38 Colonial Court Apartments Stoneham MA Multifamily 1 99% Chase 3,378,288
39 Comfort Inn Northborough MA Hotel 1 67% BSFI 2,044,265
40 Comfort Inn Greenville Greenville SC Hotel 1 67% Chase 3,014,704
41 Crossgates Village Shopping Center Brandon MS Retail, Anchored 1 100% Chase 2,492,691
42 Cruz Alta Plaza Shopping Center Taos NM Retail, Anchored 1 81% BSFI 3,150,000
43 Cummins Station Nashville TN Office 1 94% BSFI 12,000,000
44 Falltree Apartments Mesquite TX Multifamily 1 94% Secore 2,172,985
45 Food 4 Less Los Angeles CA Retail, Anchored 1 100% BSFI 9,805,835
46 Foothills Apartments San Jose CA Multifamily 1 96% BSFI 10,756,999
47 Friendly Village of Adrian Mobile Home Adrian MI Mobile Home 1 99% BSFI 2,485,073
Park
48 Golden Nugget Apartments Englewood CO Multifamily 1 96% Chase 4,685,561
49 Grande Shopping Center Irving TX Retail, Unanchored 1 85% BSFI 6,381,887
50 Hampshire II Elyria OH Multifamily 1 93% PWREI 860,000
51 Hampton Inn Columbia Columbia SC Hotel 1 71% Chase 3,723,458
52 Harbor Island Apartments Las Vegas NV Multifamily 1 99% Chase 18,289,899
53 Heart of Florida Shopping Center Haines City FL Retail, Anchored 1 100% Chase 4,401,852
54 Hickory Place Gainesville FL Multifamily 1 96% PWREI 1,338,750
55 Hinsdale Village Hinsdale IL Multifamily 1 94% Chase 8,174,158
56 Holiday Inn Boxborough Woods Boxborough MA Hotel 1 76% Chase 7,874,921
57 Holiday Inn Harrisburg East Harrisburg PA Hotel 1 66% Chase 10,453,435
58 Holiday Inn Mansfield Mansfield MA Hotel 1 78% Chase 10,662,504
59 Holiday Inn Worcester Worcester MA Hotel 1 72% Chase 3,982,261
60 Holmdel Plaza Holmdel NJ Retail, Anchored 1 96% Chase 10,788,058
61 Iris Glen Conyers GA Multifamily 1 93% PWREI 1,785,000
62 J. Baker Corporate Facility Canton MA Industrial 1 100% Chase 15,292,098
63 Katonah Shopping Center Katonah NY Retail, Unanchored 1 100% BSFI 3,121,499
64 L&C Office Tower Nashville TN Office 1 92% PWREI 3,000,000
</TABLE>
(TABLE RESTUBED FROM ABOVE)
<TABLE>
<CAPTION>
% of Maturity Cut-Off Maturity
ID Deal Name Pool Coupon Date DSCR LTV LTV
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
33 Cedargate I Englewood 0.23% 8.810% 1/1/07 1.24 80% 71%
34 Centerpoint Shopping Center 0.50% 8.970% 3/1/07 1.60 72% 60%
35 Cervinka Portfolio 0.75% 8.710% 2/1/07 1.55 77% 63%
36 Charlottesville Shoppers World 0.89% 9.200% 8/1/06 1.27 74% 62%
37 Chestnut Hill Village 4.95% 8.375% 1/1/07 1.31 77% 68%
38 Colonial Court Apartments 0.63% 9.000% 11/1/06 1.37 75% 63%
39 Comfort Inn 0.38% 9.564% 4/1/07 1.73 51% 37%
40 Comfort Inn Greenville 0.56% 9.125% 4/1/09 1.52 63% 49%
41 Crossgates Village Shopping Center 0.47% 8.500% 1/1/07 1.55 66% 54%
42 Cruz Alta Plaza Shopping Center 0.59% 8.650% 6/1/04 1.58 67% 60%
43 Cummins Station 2.25% 8.440% 6/1/12 1.62 56% 43%
44 Falltree Apartments 0.41% 7.570% 2/1/03 1.55 74% 69%
45 Food 4 Less 1.84% 8.704% 11/1/06 1.55 56% 28%
46 Foothills Apartments 2.02% 8.400% 2/1/07 1.23 58% 48%
47 Friendly Village of Adrian Mobile Home 0.47% 8.445% 12/1/06 1.31 62% 51%
Park
48 Golden Nugget Apartments 0.88% 8.500% 1/1/07 1.29 76% 67%
49 Grande Shopping Center 1.20% 8.900% 1/1/07 1.27 74% 66%
50 Hampshire II 0.16% 8.630% 3/1/07 1.21 69% 61%
51 Hampton Inn Columbia 0.70% 9.125% 4/1/09 1.56 62% 48%
52 Harbor Island Apartments 3.43% 8.950% 5/1/07 2.03 43% 38%
53 Heart of Florida Shopping Center 0.82% 9.375% 8/1/06 1.20 78% 71%
54 Hickory Place 0.25% 8.810% 1/1/07 1.49 85% 76%
55 Hinsdale Village 1.53% 8.375% 1/1/07 1.48 74% 66%
56 Holiday Inn Boxborough Woods 1.48% 9.125% 1/1/07 1.54 70% 58%
57 Holiday Inn Harrisburg East 1.96% 9.125% 1/1/07 1.46 67% 56%
58 Holiday Inn Mansfield 2.00% 9.125% 1/1/07 1.66 70% 58%
59 Holiday Inn Worcester 0.75% 9.125% 1/1/07 1.40 58% 48%
60 Holmdel Plaza 2.02% 8.960% 4/1/07 1.41 70% 63%
61 Iris Glen 0.33% 8.810% 1/1/07 1.27 85% 76%
62 J. Baker Corporate Facility 2.86% 9.000% 1/1/12 1.33 73% 0%
63 Katonah Shopping Center 0.58% 8.990% 9/1/11 1.34 62% 0%
64 L&C Office Tower 0.56% 8.340% 9/1/01 3.85 32% 32%
</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 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. 1997-1
-------------------------------------------------
INDIVIDUAL LOAN INFORMATION (CONTINUED)
<TABLE>
<CAPTION>
# of Cut-Off
ID Deal Name City St. Property Type Prop. Occ. Originator Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
65 Laurelwood Bedford IN Multifamily 1 94% PWREI $883,318
66 Le Chateau Apartments Houston TX Multifamily 1 95% Chase 1,131,168
67 McClellan Distribution Center Newark NJ Industrial 1 100% Chase 6,210,899
68 Meadowood Of Jackson Co Jackson MI Multifamily 1 96% PWREI 944,458
69 Mid Five Shopping Center Livonia MI Retail, Anchored 1 96% Chase 3,102,275
70 Monroe Shopping Center Monroe NY Retail, Anchored 1 93% Chase 7,759,196
71 North Pima Center Tucson AZ Retail, Anchored 1 93% BSFI 2,750,000
72 Oak Ridge Clermont FL Multifamily 1 100% PWREI 1,217,944
73 Oakwood Village Apartments Antioch CA Multifamily 1 93% BSFI 8,054,684
74 Old Orchard Apartments Skokie IL Multifamily 1 88% Chase 6,787,579
75 Olivewood II Indianapolis IN Multifamily 1 85% PWREI 1,292,000
76 Orchard Hills Shopping Center Shamokin Dam PA Retail, Anchored 1 100% Chase 2,745,544
77 Oxford Court Berkeley CA Office 1 100% Chase 2,487,963
78 Oxford Mall Oxford MS Retail, Anchored 1 93% Chase 6,481,508
79 Park on Fuqua Houston TX Retail, Anchored 1 100% BSFI 4,181,541
80 Pine Grove Apts. Of Roseville Roseville MI Multifamily 1 96% PWREI 1,126,250
81 Plaza Bank Center Dallas TX Retail, Unanchored 1 93% Chase 7,809,983
82 Puck Building New York NY Office 1 100% BSFI 10,922,208
83 Radisson Hotel Corning Corning NY Hotel 1 66% Chase 4,885,503
84 Rambletree Apartments Glen Ellyn IL Multifamily 1 96% Secore 7,802,992
85 Redwood Square Vallejo CA Retail, Unanchored 1 93% BSFI 2,198,501
86 Regent Plaza Inglewood CA Multifamily 1 99% Chase 4,456,841
87 Ridgewood Russellville KY Multifamily 1 81% PWREI 763,342
88 Sandalwood Of Alexandria Alexandria IN Multifamily 1 93% PWREI 596,962
89 Silver Forest Ocala FL Multifamily 1 78% PWREI 859,440
90 Skypark San Bruno CA Industrial 1 100% BSFI 7,471,911
91 Skyway Plaza St. Petersburg FL Retail, Anchored 1 96% Chase 3,996,578
92 Slate Run Lebanon IN Multifamily 1 100% PWREI 1,232,500
93 Slate Run II Louisville KY Multifamily 1 98% PWREI 1,168,080
94 Southtown Plaza Henrietta NY Retail, Anchored 1 90% BSFI 18,471,079
95 Southview Commons Rochester NY Office 4 100% Chase 4,174,089
96 Spicetree Apartments Ann Arbor MI Multifamily 1 99% Secore 4,945,358
</TABLE>
(TABLE RESTUBED FROM ABOVE)
<TABLE>
<CAPTION>
% of Maturity Cut-Off Maturity
ID Deal Name Pool Coupon Date DSCR LTV LTV
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
65 Laurelwood 0.17% 8.810% 1/1/07 1.37 80% 72%
66 Le Chateau Apartments 0.21% 9.625% 5/1/12 1.35 60% 0%
67 McClellan Distribution Center 1.16% 9.125% 11/1/06 1.44 67% 56%
68 Meadowood Of Jackson Co 0.18% 8.810% 1/1/07 1.35 85% 76%
69 Mid Five Shopping Center 0.58% 9.250% 8/1/06 1.28 63% 53%
70 Monroe Shopping Center 1.45% 9.375% 8/1/06 1.23 75% 68%
71 North Pima Center 0.52% 8.170% 6/1/07 2.01 55% 45%
72 Oak Ridge 0.23% 8.810% 1/1/07 1.24 83% 75%
73 Oakwood Village Apartments 1.51% 8.513% 9/1/06 1.27 73% 65%
74 Old Orchard Apartments 1.27% 8.510% 3/1/07 1.25 77% 68%
75 Olivewood II 0.24% 8.810% 1/1/07 1.21 85% 76%
76 Orchard Hills Shopping Center 0.51% 9.270% 8/1/06 1.32 64% 54%
77 Oxford Court 0.47% 8.625% 1/1/04 1.38 59% 53%
78 Oxford Mall 1.21% 8.875% 1/1/07 1.25 65% 58%
79 Park on Fuqua 0.78% 9.100% 10/1/06 1.43 73% 66%
80 Pine Grove Apts. Of Roseville 0.21% 8.810% 1/1/07 1.49 85% 76%
81 Plaza Bank Center 1.46% 9.500% 8/1/06 1.28 73% 66%
82 Puck Building 2.05% 9.215% 10/1/11 1.59 61% 41%
83 Radisson Hotel Corning 0.92% 9.125% 4/1/07 1.49 65% 47%
84 Rambletree Apartments 1.46% 7.570% 2/1/03 1.64 74% 69%
85 Redwood Square 0.41% 9.386% 5/1/07 1.39 72% 62%
86 Regent Plaza 0.83% 8.625% 12/1/11 1.53 66% 29%
87 Ridgewood 0.14% 8.810% 1/1/07 1.21 73% 66%
88 Sandalwood Of Alexandria 0.11% 8.810% 1/1/07 1.52 79% 70%
89 Silver Forest 0.16% 8.810% 1/1/07 1.27 65% 58%
90 Skypark 1.40% 8.774% 2/1/07 1.43 65% 54%
91 Skyway Plaza 0.75% 9.250% 5/1/07 1.25 70% 59%
92 Slate Run 0.23% 8.810% 1/1/07 1.33 85% 76%
93 Slate Run II 0.22% 8.810% 1/1/07 1.33 72% 64%
94 Southtown Plaza 3.46% 8.659% 5/1/12 1.55 46% 20%
95 Southview Commons 0.78% 9.210% 11/1/06 1.43 64% 54%
96 Spicetree Apartments 0.93% 8.510% 10/1/01 3.97 26% 25%
</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 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. 1997-1
-------------------------------------------------
INDIVIDUAL LOAN INFORMATION (CONTINUED)
<TABLE>
<CAPTION>
# of Cut-Off
ID Deal Name City St. Property Type Prop. Occ. Originator Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
97 Strand Lofts, The Galveston TX Multifamily 1 92% Chase $2,060,824
98 Sugarmill Village Coral Springs FL Multifamily 1 90% Hanover 1,740,215
99 Thymewood I Hialeah FL Multifamily 1 91% PWREI 2,398,019
100 Village at Painters Crossing Chadds Ford PA Retail, Anchored 1 100% BSFI 9,000,000
101 Wall Street Office Park Bellevue NE Office 1 89% BSFI 7,117,039
102 Warner Financial & Medical Plaza Woodland Hills CA Office 1 86% BSFI 13,974,727
103 Watertown Mall Watertown MA Retail, Anchored 1 93% Chase 8,245,142
104 Wenatchee Manorhouse Apartments Wenatchee WA Multifamily 1 90% BSFI 1,293,777
105 Wenatchee Quad Apartments Wenatchee WA Multifamily 1 100% BSFI 2,361,441
106 Willow Run Of Dekalb Co Stone Mountain GA Multifamily 1 91% PWREI 1,730,934
107 Willowood Frank Frankfort KY Multifamily 1 97% PWREI 1,016,267
</TABLE>
(TABLE RESTUBED FROM ABOVE)
<TABLE>
<CAPTION>
% of Maturity Cut-Off Maturity
ID Deal Name Pool Coupon Date DSCR LTV LTV
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
97 Strand Lofts, The 0.39% 9.000% 6/1/06 0.87 79% 71%
98 Sugarmill Village 0.33% 8.350% 11/1/05 1.18 74% 66%
99 Thymewood I 0.45% 8.650% 1/1/07 1.24 73% 65%
100 Village at Painters Crossing 1.69% 8.720% 6/1/04 1.37 69% 62%
101 Wall Street Office Park 1.33% 8.890% 1/1/07 1.38 73% 61%
102 Warner Financial & Medical Plaza 2.62% 8.951% 4/1/07 1.34 68% 56%
103 Watertown Mall 1.54% 9.000% 2/1/07 1.44 48% 40%
104 Wenatchee Manorhouse Apartments 0.24% 8.620% 12/1/06 1.32 70% 60%
105 Wenatchee Quad Apartments 0.44% 8.720% 12/1/06 1.37 74% 61%
106 Willow Run Of Dekalb Co 0.32% 8.810% 1/1/07 1.46 82% 74%
107 Willowood Frank 0.19% 8.810% 1/1/07 1.27 76% 68%
</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 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>
21
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. 1997-1
-------------------------------------------------
Commercial Mortgage Pass-Through Certificates, Series 1997-1
[MAP & GRAPHIC OMMITED]
COLORADO
1 loan
$4.7 million
0.88% of total
NEVADA
2 loans
$25.2 million
4.72% of total
CALIFORNIA
9 loans
$64.8 million
12.14% of total
ARIZONA
1 loan
$2.8 million
0.52% of total
NEW MEXICO
1 loan
$3.2 million
0.59% of total
TEXAS
10 loans
$34.9 million
6.53% of total
MISSISSIPPI
2 loans
$9.0 million
1.68% of total
KENTUCKY
3 loans
$2.9 million
0.55% of total
TENNESSEE
2 loans
$15 million
2.81% of total
FLORIDA
9 loans
$17.2 million
3.21% of total
GEORGIA
2 loans
$3.5 million
0.66% of total
SOUTH CAROLINA
2 loans
$6.7 million
1.26% of total
VIRGINIA
2 loans
$9.2 million
1.72% of total
MARYLAND
1 loan
$5.1 million
0.95% of total
NEW JERSEY
6 loans
$35.7 million
6.69% of total
MASSACHUSETTS
8 loans
$58.5 million
10.95% of total
NEW YORK
20 loans
$115.5 million
21.64% of total
PENNSYLVANIA
5 loans
$50.8 million
9.52% of total
<PAGE>
OHIO
2 loans
$2.1 million
0.39% of total
MICHIGAN
7 loans
$24.4 million
4.57% of total
INDIANA
5 loans
$5.3 million
0.99% of total
ILLINOIS
4 loans
$26.7 million
5.01% of total
NEBRASKA
1 loan
$7.1 million
1.33% of total
WASHINGTON
2 loans
$3.7 million
0.68% of total
GEOGRAPHIC OVERVIEW OF MORTGAGE POOL
- -------------------------------------------------------------------------------
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 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.
