<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 13, 2000
CHASE COMMERCIAL MORTGAGE SECURITIES CORP. (as depositor under the Pooling and
Servicing Agreement, dated as of June 10, 2000, providing for the issuance of
Chase Commercial Mortgage Securities Corp.'s Commercial Mortgage Pass-Through
Certificates, Series 2000-2).
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
New York 333-30082 13-3728743
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification Number)
270 Park Avenue
New York, New York 10017-2070
(Address of principal executive offices) (Zip Code)
(212) 270-5723
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS
Filing of Collateral Term Sheets
On or about June 28, 2000, the Registrant will cause the sale of
approximately $657,472,768 principal amount of Commercial Mortgage Pass-Through
Certificates, Series 2000-2, in several classes (collectively, the
"Certificates") pursuant to a Pooling and Servicing Agreement to be dated as of
June 10, 2000 among the Registrant, GE Capital Loan Services, Inc., as master
servicer, Lend Lease Asset Management, L.P., as special servicer and Norwest
Bank Minnesota, National Association, as trustee (the "Pooling and Servicing
Agreement").
In connection with the sale of certain classes of the Certificates
(collectively, the "Underwritten Certificates") pursuant to a Prospectus
Supplement relating to the Underwritten Certificates, the Registrant has
been advised by Chase Securities Inc. (as lead manager and bookrunner) and
Salomon Smith Barney Inc. (collectively, the "Underwriters") that the
Underwriters have, following the effective date of Registration Statement No.
333-30082, furnished to one or more prospective investors on June 13, 2000 and
June 14, 2000 one of three Collateral Term Sheets (collectively, the "Term
Sheets") one dated as of June 12, 2000 and the other two dated June 14, 2000.
The term "Collateral Term Sheet" shall mean those materials which constitute
"collateral term sheets" within the meaning of the no-action letter dated
February 17, 1995 issued by the Division of Corporation Finance to the Public
Securities Association. The Term Sheets are being filed as exhibits to this
report.
The Term Sheets have been provided by the Underwriters. The information in
the Term Sheets is preliminary and will be superseded by the Prospectus
Supplement relating to the Underwritten Certificates and by any other
information subsequently filed with the Securities and Exchange Commission.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements: Not applicable.
(b) Pro Forma Financial Information: Not applicable.
(c) Exhibit:
--------------------------------------------------------------------------------
EXHIBIT NO. DOCUMENT
----------- --------
--------------------------------------------------------------------------------
99.1 Term Sheets dated as of June 12, 2000 and June 14, 2000
--------------------------------------------------------------------------------
-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/ Wendy Schwartzberg
Name: Wendy Schwartzberg
Title: Assistant Vice President
Dated: June 15, 2000
-3-
<PAGE>
EXHIBIT INDEX
--------------------------------------------------------------------------------
EXHIBIT NO. DOCUMENT PAGE
----------- -------- ----
--------------------------------------------------------------------------------
99.1 Term Sheets dated as of June 12, 2000
and June 14, 2000 5
--------------------------------------------------------------------------------
-4-
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
NEW ISSUE TERM SHEET
-------------------------------
$657,472,768
(APPROXIMATE)
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-2
-------------------------------
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.--DEPOSITOR
GE CAPITAL LOAN SERVICES, INC.--MASTER SERVICER
LEND LEASE ASSET MANAGEMENT L.P.--SPECIAL SERVICER
GENERAL ELECTRIC CAPITAL CORPORATION--MORTGAGE LOAN SELLER
THE CHASE MANHATTAN BANK--MORTGAGE LOAN SELLER
-------------------------------
FOR FURTHER INFORMATION CONTACT:
Scott Davidson
Managing Director
Chase Securities Inc.
212-834-3813
CHASE SECURITIES INC. SALOMON SMITH BARNEY
Book Running Manager
The analyses in this report are based upon information provided by The Chase
Manhattan Bank and General Electric Capital Corporation (the "Sellers"). Chase
Securities Inc. and Salomon Smith Barney (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 the securities
referred to herein (the "Securities"). The information contained herein is
preliminary as of the date hereof, supersedes any previous information delivered
to you by the Underwriters 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 the Securities.
The attached information contains certain tables and other statistical analyses
(the "Computational Materials") which have been prepared in reliance upon
information furnished by the Sellers. They may not be provided to any third
party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material. Numerous assumptions were
used in preparing the Computational Materials which may or may not be reflected
therein. As such, no assurance can be given as to the Computational Materials'
accuracy, appropriateness or completeness in any particular context; nor as to
whether the Computational Materials and/or the assumptions upon which they are
based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or
predictions or as legal, tax, financial or accounting advice. Any weighted
average lives, yields and principal payment periods shown in the Computational
Materials are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the
underlying assets will occur at rates slower or faster than the rates shown in
the attached Computational Materials. Furthermore, unless otherwise provided,
the Computational Materials assume no losses on the underlying assets and no
interest shortfalls. The specific characteristics of the Securities may differ
from those shown in the Computational Materials due to differences between the
actual underlying assets and the hypothetical underlying assets used in
preparing the Computational Materials. The principal amount and designation of
any Security described in the Computational Materials are subject to change
prior to issuance. Neither the Underwriters nor any of their affiliates make any
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. THIS
INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS AND NOT BY THE ISSUER
OF THE SECURITIES OR ANY OF ITS AFFILIATES (OTHER THAN CHASE SECURITIES INC.).
THE UNDERWRITERS ARE NOT ACTING AS AGENTS FOR THE ISSUER OR ITS AFFILIATES IN
CONNECTION WITH THE PROPOSED TRANSACTION.
JUNE 12, 2000
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
COLLATERAL OVERVIEW:
--------------------
Aggregate Principal Balance: $738,733,448
Number of Mortgage Loans: 81
Number of Mortgaged Properties: 81
Average Cut-Off Date Balance: $9,120,166
Weighted Average Current Mortgage Rate: 8.362%
Weighted Average Underwritten DSCR (1): 1.34x
Weighted Average Loan to Value Ratio (1): 69.69%
Weighted Average Original Term to Maturity (months): 119
Weighted Average Remaining Term to Maturity (months): 117
Weighted Average Remaining Amortization Term (months): 351
Balloon Loans as a % of Total: 99.73%
Single Largest Loan as a % of Total: 5.89%
Three Largest Loans as a % of Total: 16.48%
Ten Largest Loans as a % of Total: 41.20%
(1) Excludes 1 credit tenant lease loan, representing approximately 0.27% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
<TABLE>
<CAPTION>
AGGREGATE
CUT-OFF LOAN
TEN LARGEST DATE % OF PER SF CUT-OFF PROPERTY
LOAN SUMMARY BALANCE IPB /UNIT LTV DSCR TYPE
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
111 Livingston Street $43,500,000 5.89% 107.22 63.97% 1.52x Office
32-42 Broadway 40,000,000 5.41 75.98 53.40% 1.29x Office
Embassy Suites 38,223,900 5.17 120,580.13 63.18% 1.47x Hotel
Atlanta (Buckhead)
Cross Country Plaza 32,595,924 4.41 92.78 76.52% 1.23x Retail
Eastern Beltway Center 28,229,039 3.82 72.59 77.34% 1.21x Retail
Embassy Suites San 26,250,076 3.55 84,134.86 68.72% 1.39x Hotel
Francisco
Pacific Place 26,000,000 3.52 94.23 72.22% 1.43x Office
Mansions by the Lake 24,973,588 3.38 79,281.23 76.84% 1.25x Multifamily
AEC II Windsor Pines 22,553,406 3.05 61,286.43 66.33% 1.20x Multifamily
Apartments
Civic Center Plaza 22,050,000 2.98 151.84 75.06% 1.29x Retail
---------- ---- ----- ----
TOTAL/WEIGHTED
AVERAGE $304,375,93 41.20% 68.21% 1.34X
----------------------------------------------------------------------------------------
</TABLE>
NUMBER OF AGGREGATE
MORTGAGED PRINCIPAL % OF INITIAL
CURRENT USE PROPERTIES BALANCE POOL BALANCE
--------------------------------------------------------------------------------
Multifamily 31 $221,878,473 30.03%
Office 16 197,401,602 26.72
Anchored Retail 17 184,193,006 24.93
Hotel 2 64,473,976 8.73
Unanchored Retail 9 34,547,018 4.68
Industrial 5 34,279,494 4.64
Credit Tenant Lease 1 1,959,878 0.27
- --------- ----
TOTAL 81 $738,733,448 100.00%
--------------------------------------------------------------------------------
NUMBER OF AGGREGATE
MORTGAGED PRINCIPAL % OF INITIAL
STATE PROPERTIES BALANCE POOL BALANCE
--------------------------------------------------------------------------------
California 18 $166,854,436 22.59%
New York 6 125,432,253 16.98
Texas 12 71,162,099 9.63
Florida 4 66,687,208 9.03
Nevada 6 64,988,313 8.80
Georgia 4 57,776,838 7.82
Ohio 9 55,216,772 7.47
Other States 22 130,615,529 17.68
-- ----------- -----
TOTAL 81 $738,733,448 100.00%
--------------------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL % OF INITIAL
RANGE OF DSCR(1) MORTGAGE LOANS BALANCE POOL BALANCE
--------------------------------------------------------------------------------
1.169x to 1.199x 1 $7,931,712 1.07%
1.200x to 1.229x 16 150,526,086 20.38
1.230x to 1.259x 13 110,024,747 14.89
1.260x to 1.299x 14 140,191,940 18.98
1.300x to 1.369x 14 96,029,915 13.00
1.370x to 1.499x 13 157,485,459 21.32
1.500x to 2.999x 7 65,983,711 8.93
Over 3.000x 2 8,600,000 1.16
- --------- ----
TOTAL 80 $736,773,569 99.73%
--------------------------------------------------------------------------------
(1) Excludes 1 credit tenant lease loan, representing approximately 0.27% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
AGGREGATE
RANGE OF LTV AS OF THE NUMBER OF PRINCIPAL % OF INITIAL
CUT-OFF DATE (1) MORTGAGE LOANS BALANCE POOL BALANCE
--------------------------------------------------------------------------------
24.36% to 59.99% 8 $70,249,359 9.51%
60.00% to 64.99% 12 149,402,354 20.22
65.00% to 68.99% 9 76,915,991 10.41
69.00% to 72.99% 19 135,535,037 18.35
73.00% to 76.99% 15 171,160,846 23.17
77.00% to 79.99% 14 110,101,146 14.90
80.00% to 81.74% 3 23,408,836 3.17
- ---------- ----
TOTAL 80 $736,773,569 99.73%
--------------------------------------------------------------------------------
(1) Excludes 1 credit tenant lease loan, representing approximately 0.27% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date.
KEY CHARACTERISTICS:
Lead Manager: Chase Securities Inc.
Co-Manager: Salomon Smith Barney
Master Servicer: GE Capital Loan Services, Inc.
Special Servicer: Lend Lease Asset Management, L.P.
Trustee: Norwest Bank Minnesota, National Association
Paying Agent: The Chase Manhattan Bank
Mortgage Loan Sellers: General Electric Capital Corporation (53.06%)
The Chase Manhattan Bank (46.94%)
Closing: On or about June 28, 2000
Cut-Off Date: June 10, 2000
Distribution Date: 15th day of each month or following business day
Payment Delay: 14 days only on loans sold by GECC
ERISA Eligible: Classes A1, A2 and X are expected to be ERISA eligible
SMMEA Eligible: No classes are eligible
Structure: Sequential Pay
Day Count: 30/360, payable monthly
Tax Treatment: REMIC
Rated Final
Distribution Date: July 15, 2032
Minimum Denominations: $10,000 initial principal amount for the publicly
offered certificates and $1,000,000 initial notional
amount for the Class X certificates. Each certificate
will be offered in multiples of $1 in excess of the
minimum denomination.
Delivery: DTC, Clearstream Banking, Euroclear
% OF
AGGREGATE INITIAL
RANGE OF PRINCIPAL NUMBER OF PRINCIPAL POOL
CUT-OFF DATE BALANCES MORTGAGE LOANS BALANCE BALANCE
-------------------------------------------------------------------------
$654,615 to $3,000,000 20 $39,710,444 5.38%
$3,000,001 to $5,000,000 21 80,158,997 10.85
$5,000,001 to $9,000,000 14 95,176,086 12.88
$9,000,001 to $15,000,000 10 109,781,068 14.86
$15,000,001 to $30,000,000 12 259,587,030 35.14
$30,000,001 to $42,000,000 3 110,819,823 15.00
$42,000,001 to $43,500,000 1 43,500,000 5.89
- ---------- ----
TOTAL 81 $738,733,448 100.00%
-------------------------------------------------------------------------
% OF
AGGREGATE INITIAL
NUMBER OF PRINCIPAL POOL
RATES OF MORTGAGE RATES MORTGAGE LOANS BALANCE BALANCE
-------------------------------------------------------------------------
7.090% to 7.499% 1 $2,633,701 0.36%
7.500% to 7.899% 18 153,874,146 20.83
7.900% to 8.199% 19 112,330,441 15.21
8.200% to 8.499% 21 218,780,987 29.62
8.500% to 8.749% 12 69,173,437 9.36
8.750% to 8.999% 8 105,844,812 14.33
9.000% to 9.000% 2 76,095,924 10.30
- ---------- -----
TOTAL 81 $738,733,448 100.00%
-------------------------------------------------------------------------
% OF
RANGE OF REMAINING TERM AGGREGATE INITIAL
TO MATURITY OR APD NUMBER OF PRINCIPAL POOL
(MONTHS) MORTGAGE LOANS BALANCE BALANCE
------------------------------------------------------------------------
57 to 79 2 $28,061,382 3.80%
80 to 99 6 26,994,818 3.65
100 to 116 9 77,857,386 10.54
117 to 118 13 105,423,649 14.27
119 to 120 48 457,216,804 61.89
121 to 235 3 43,179,409 5.85
- ---------- ----
TOTAL 81 $738,733,448 100.00%
------------------------------------------------------------------------
% OF
AGGREGATE INITIAL
NUMBER OF PRINCIPAL POOL
AMORTIZATION TYPES MORTGAGE LOANS BALANCE BALANCE
----------------------------------------------------------------------
Balloon Loans (1) 76 $652,343,944 88.31%
APD Loans 3 78,729,625 10.66
Interest-only Loans 1 5,700,000 0.77
Fully Amortizing Loans 1 1,959,878 0.27
- --------- ----
TOTAL 81 $738,733,448 100.00%
----------------------------------------------------------------------
(1) Excludes APD and Interest-only Loans.
% OF
AGGREGATE INITIAL
BASIS FOR ACCRUAL OF NUMBER OF PRINCIPAL POOL
INTEREST MORTGAGE LOANS BALANCE BALANCE
----------------------------------------------------------------------
Actual/360 81 $738,733,448 100.00%
-- ------------ -------
TOTAL 81 $738,733,448 100.00%
----------------------------------------------------------------------
% OF
AGGREGATE INITIAL
NUMBER OF PRINCIPAL POOL
PREPAYMENT PROVISIONS MORTGAGE LOANS BALANCE BALANCE
----------------------------------------------------------------------
Lockout/Defeasance/Open 81 $738,733,448 100.00%
-- ------------ -------
TOTAL 81 $738,733,448 100.00%
----------------------------------------------------------------------
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 2 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
SUMMARY OF CERTIFICATES
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
INITIAL CLASS PASS- ASSUMED WEIGHTED PRINCIPAL OR
CERTIFICATE THROUGH FINAL AVERAGE EXPECTED NOTIONAL
BALANCE OR APPROXIMATE RATE DISTRIBUTION LIFE RATINGS PRINCIPAL
CLASS NOTIONAL AMOUNT(1) CREDIT SUPPORT DESCRIPTION DATE(5) (YEARS)(6) (MOODY'S/FITCH) WINDOW(6)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $118,980,000 24.000% Fixed 10/15/09 5.70 Aaa/AAA 7/00-10/09
A-2 $442,457,420 24.000% Fixed 6/15/10 9.83 Aaa/AAA 10/09-6/10
X $738,733,448 N/A WAC (I/O) (2) 1/15/20 9.31 Aaa/AAA 7/00-1/20
B $26,779,086 20.375% Fixed (3) 6/15/10 9.96 Aa2/AA 6/10-6/10
C $34,166,423 15.750% Fixed (3) 6/15/10 9.96 A2/A 6/10-6/10
D $12,004,419 14.125% Fixed (3) 7/15/10 9.99 A3/A- 6/10-7/10
E $23,085,420 11.000% Variable (4) 7/15/10 10.05 Baa2/BBB 7/10-7/10
F $12,927,835 N/A Variable (4) N/A N/A N/A N/A
G $12,927,834 N/A Fixed (3) N/A N/A N/A N/A
H $18,468,338 N/A Fixed (3) N/A N/A N/A N/A
I $5,540,501 N/A Fixed (3) N/A N/A N/A N/A
J $7,387,334 N/A Fixed (3) N/A N/A N/A N/A
K $9,234,168 N/A Fixed (3) N/A N/A N/A N/A
L $3,693,667 N/A Fixed (3) N/A N/A N/A N/A
M $11,081,002 N/A Fixed (3) N/A N/A N/A N/A
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Approximate, subject to a permitted variance of plus or minus 10%.
(2) The pass-through rate on the Class X certificates will be equal to the
excess, if any, of (1) the weighted average of the net interest rates on
the mortgage loans (in each case adjusted to accrue on the basis of a
360-day year consisting of twelve 30-day months), over (2) the weighted
average of the pass-through rates of the other certificates (other than the
residual certificates and the Class S certificate) as described in the
prospectus supplement.
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans (in each case adjusted to accrue on the basis
of a 360-day year consisting of twelve 30-day months) as of the first day
of the related due period is less than the rate specified for the Class B,
Class C, Class D, Class G, Class H, Class I, Class J, Class K, Class L or
Class M certificates with respect to the distribution date, then the
pass-through rate for that class of certificates on that distribution date
will equal the weighted average net mortgage interest rate.
(4) The pass-through rate applicable to the Class E and Class F certificates on
each distribution date will be equal to the weighted average of the net
interest rates on the mortgage loans (in each case adjusted to accrue on
the basis of a 360-day year consisting of twelve 30-day months) minus % per
annum.
(5) The assumed final distribution dates set forth in the prospectus supplement
have been determined on the basis of the assumptions described in
"Description of the Certificates--Assumed Final Distribution Date; Rated
Final Distribution Date" in the prospectus supplement. The rated final
distribution date for each class of certificates is July 15, 2032. See
"Description of the Certificates--Assumed Final Distribution Date; Rated
Final Distribution Date" in the prospectus supplement.
(6) The weighted average life and period during which distributions of
principal would be received (or applied in the case of the notional amount
of Class X certificates) set forth in the foregoing table with respect to
each class of certificates is based on the assumptions set forth under
"Yield and Maturity Considerations--Weighted Average Life" in the
prospectus supplement and on the assumptions that there are no prepayments
(other than on each anticipated prepayment date, if any), or losses on the
mortgage loans and that there are no extensions of maturity dates of
mortgage loans.
The Class S, Class R and Class LR certificates are not offered by the
prospectus supplement or represented in this table.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 3 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
SUMMARY OF ISSUE
ISSUE TYPE: Sequential pay multi-class commercial mortgage
REMIC
OFFERED SECURITIES: Classes A-1, A-2, X, B, C, D and E
COLLATERAL: Approximately $738,733,448 pool of 81 fixed-rate
commercial and multifamily mortgage loans
LOAN SELLERS: General Electric Capital Corporation and The Chase
Manhattan Bank
DEPOSITOR: Chase Commercial Mortgage Securities Corp.
UNDERWRITERS: Chase Securities Inc.--Book Running Manager
Salomon Smith Barney--Co-Manager
MASTER SERVICER: GE Capital Loan Services, Inc.
PRIMARY SERVICERS: The Chase Manhattan Bank and GE Capital Loan
Services, Inc.
SPECIAL SERVICER: Lend Lease Asset Management, L.P.
TRUSTEE: Norwest Bank Minnesota, National Association
RATING AGENCIES: Moody's Investors Service, Inc. and Fitch
CUT-OFF DATE: June 10, 2000
CLOSING DATE: On or about June 28, 2000
DISTRIBUTION DATE: The 15th day of the month or, if that day is not a
business day, the next business day, beginning in
July 2000, provided that the distribution date
will be no earlier than the fourth business day
after the related determination date
DETERMINATION DATE: The 11th day of the month or the next business day
DENOMINATIONS: The offered certificates (other than the Class X
certificates) will be offered in minimum
denominations of $10,000 initial principal amount;
the Class X certificates will be offered in
minimum denominations of $1,000,000 initial
notional amount
ERISA CONSIDERATIONS: Class A-1, Class A-2 and Class X certificates are
expected to be ERISA eligible, subject to certain
conditions
SMMEA ELIGIBILITY: No certificates are eligible
CERTIFICATE REGISTRATION: Certificate owners may hold their certificates
through DTC (in the United States) or Clearstream
Banking, societe anonym or The Euroclear System
(in Europe) if they are participants of that
system, or indirectly through organizations that
are participants in those systems
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 4 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
STRUCTURAL CHARACTERISTICS
INTEREST ACCRUAL PERIOD: Interest will accrue on the offered certificates
during the calendar month prior to the related
distribution date and will be calculated assuming
that each month has 30 days and each year has 360
days.
PASS-THROUGH RATES: Certificates will accrue interest at an annual
rate called a pass-through rate which is set forth
below for each class other than the Class E and
Class X certificates:
Class A-1 [__]%
Class A-2 [__]%
Class B [__]% (1)
Class C [__]% (1)
Class D [__]% (1)
(1) For any distribution date, if the weighted
average of the net interest rates on the
mortgage loans (in each case adjusted to
accrue on the basis of a 360-day year
consisting of twelve 30-day months and net
of all servicing and trustee fees) as of
the first day of the related due period is
less than the rate specified for the Class
B, Class C or Class D certificates with
respect to the distribution date, then the
pass-through rate for that class of
certificates on that distribution date
will equal the weighted average net
mortgage interest rate.
If you invest in the Class E certificates, your
pass-through rate will be equal to the weighted
average interest rate of the mortgage loans (in
each case adjusted to accrue on the basis of a
360-day year consisting of twelve 30-day months
and net of all servicing and trustee fees), less %
per annum.
If you invest in the Class X certificates, your
pass-through rate will be equal to the excess, if
any, of (1) the weighted average interest rate of
the mortgage loans (in each case adjusted to
accrue on the basis of a 360-day year consisting
of twelve 30-day months and net of all servicing
and trustee fees) over (2) the weighted average of
the pass-through rates of the other certificates
(other than the Class S, Class R and Class LR
certificates) as described in the prospectus
supplement.
PRINCIPAL DISTRIBUTIONS: On each distribution date, funds available for
distribution from the mortgage loans, net of
specified trust expenses, will be distributed to
the class of certificates outstanding, with the
earliest alphabetical/numerical Class designation,
until its certificate balance is reduced to zero.
If the principal amount of each class of
certificates other than Class A-1 and Class A-2
has been reduced to zero, funds available for
principal will be distributed to Class A-1 and
Class A-2, pro rata, rather than sequentially.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 5 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
STRUCTURAL CHARACTERISTICS (continued)
INTEREST DISTRIBUTIONS: Each class of offered certificates (other than the
Class X certificates) will be entitled on each
distribution date to interest accrued at its
pass-through rate on the outstanding certificate
balance of such class during the prior calendar
month. The Class X certificates will be entitled
on each distribution date to the interest accrued
at the related pass-through rate on its notional
amount during the prior calendar month.
PREPAYMENT Each mortgage loan prohibits any prepayments
PROVISIONS: (including defeasance) for a specified period of
only defeasance after the expiration of the
Lock-out Period.
REPRESENTATIONS The applicable Mortgage Loan Seller will make
AND WARRANTIES: certain representations and warranties with
respect to each mortgage loan sold by the Mortgage
Loan Seller.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 6 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
COLLATERAL CHARACTERISTICS
<TABLE>
<CAPTION>
<S> <C>
AGGREGATE PRINCIPAL BALANCE(1) $738,733,448
NUMBER OF MORTGAGE LOANS 81
NUMBER OF MORTGAGED PROPERTIES 81
NUMBER OF BALLOON MORTGAGE LOANS(2)...... 80
NUMBER OF FULLY AMORTIZING MORTGAGE LOANS 1
NUMBER OF MORTGAGE LOANS WITH ANTICIPATED PREPAYMENT DATES 3
RANGE OF MORTGAGE LOAN PRINCIPAL BALANCES $654,615 TO $43,500,000
AVERAGE MORTGAGE LOAN PRINCIPAL BALANCE.. $9,120,166
RANGE OF MORTGAGE RATES 7.090% TO 9.000%
WEIGHTED AVERAGE MORTGAGE RATE 8.362%
RANGE OF ORIGINAL TERMS TO MATURITY DATE(3) 60 MONTHS TO 235 MONTHS
WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY DATE(3) 119 MONTHS
RANGE OF REMAINING TERMS TO MATURITY DATE(3) 57 MONTHS TO 235 MONTHS
WEIGHTED AVERAGE REMAINING TERM TO MATURITY DATE(3) 117 MONTHS
RANGE OF ORIGINAL AMORTIZATION TERMS(4) 235 MONTHS TO 360 MONTHS
WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM(4) 353 MONTHS
RANGE OF REMAINING AMORTIZATION TERMS(4) 235 MONTHS TO 360 MONTHS
WEIGHTED AVERAGE REMAINING AMORTIZATION TERM(4) 351 MONTHS
RANGE OF LOAN TO VALUE RATIOS (5) 24.36% TO 81.74%
WEIGHTED AVERAGE LOAN TO VALUE RATIO (5). 69.69%
RANGE OF LOAN TO VALUE RATIOS AS OF THE MATURITY DATE(3) (5) 24.36% TO 79.07%
WEIGHTED AVERAGE LOAN TO VALUE RATIO AS OF THE MATURITY DATE(3) (5) 62.53%
RANGE OF OCCUPANCY RATES(6) 76.3% TO 100.0%
WEIGHTED AVERAGE OCCUPANCY RATE(6) 94.41%
RANGE OF DEBT SERVICE COVERAGE RATIOS(5) 1.17X TO 3.29X
WEIGHTED AVERAGE DEBT SERVICE COVERAGE RATIO(5) 1.34X
</TABLE>
(1) Subject to a permitted variance of plus or minus 10%.
(2) Includes 3 mortgage loans with anticipated prepayment dates.
(3) In the case of 3 mortgage loans, the anticipated prepayment date.
(4) Excludes the mortgage loan that pays interest-only for the life of its
term.
(5) Excludes 1 credit tenant lease loan, representing approximately 0.27% of
the aggregate principal balance of all mortgage loans as of the cut-off
date.
(6) Includes 2 hotel properties, representing approximately 8.73% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date, which have occupancy rates that generally range from 76.3% to 77.4%;
if the mortgage loans secured by hotel properties are excluded, the range
of occupancy rates of all other mortgaged properties is 78.8% to 100.0% and
the weighted average occupancy rate of all other mortgaged properties is
96.1%.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 7 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
TEN LARGEST LOANS
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
% OF
NUMBER OF CUT-OFF INITIAL
MORTGAGED DATE POOL PROPERTY
PROPERTY NAME PROPERTIES BALANCE BALANCE TYPE
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
111 Livingston Street 1 $43,500,000 5.89% Office
32-42 Broadway 1 40,000,000 5.41 Office
Embassy Suites Atlanta (Buckhead) 1 38,223,900 5.17 Hotel
Cross County Plaza 1 32,595,924 4.41 Retail
Eastern Beltway Center 1 28,229,039 3.82 Retail
Embassy Suites San Francisco 1 26,250,076 3.55 Hotel
Pacific Place 1 26,000,000 3.52 Office
Mansions by the Lake 1 24,973,588 3.38 Multifamily
AEC II Windsor Pines Apartments 1 22,553,406 3.05 Multifamily
Civic Center Plaza 1 22,050,000 2.98 Retail
- ---------- ----
TOTAL/WEIGHTED AVERAGE 10 $304,375,932 41.20%
--------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------------------------------------------------------------
STATED CUT-OFF
REMAINING DATE LTV
MORTGAGE TERM UNDERWRITTEN LTV RATIO AT
PROPERTY NAME RATE (MONTHS) DSCR RATIO MATURITY
---------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
111 Livingston Street 9.00% 120 1.52x 63.97% 58.57%
32-42 Broadway 8.48% 120 1.29x 53.40% 48.35%
Embassy Suites Atlanta (Buckhead) 8.77% 119 1.47x 63.18% 53.39%
Cross County Plaza 9.00% 115 1.23x 76.52% 70.16%
Eastern Beltway Center 8.38% 119 1.21x 77.34% 69.92%
Embassy Suites San Francisco 8.77% 119 1.39x 68.72% 58.07%
Pacific Place 8.47% 120 1.43x 72.22% 65.37%
Mansions by the Lake 8.23% 118 1.25x 76.84% 69.25%
AEC II Windsor Pines Apartments 7.89% 144 1.20x 66.33% 56.60%
Civic Center Plaza 8.42% 118 1.29x 75.06% 67.89%
----- --- ----- ------ ------
TOTAL/WEIGHTED AVERAGE 8.59% 121 1.34X 68.21% 60.81%
---------------------------------------------------------------------------------------------------
</TABLE>
111 LIVINGSTON STREET: The 111 Livingston Street loan (identified as Loan No. 1
on Annex A to the prospectus supplement) is secured by a first lien on a
23-story multi-tenant office building located in downtown Brooklyn, New York.
The building contains approximately 405,712 square feet of net leasable area and
a 166-space parking garage. The building was built in 1969 and renovated in
1999. As of May 2000, the mortgaged property was approximately 96.1% occupied.
Abraham Leser, the owner of 100% of the stock of the managing member of the
managing member of the borrower, owns, or has ownership interests in, over 30
commercial properties in the New York metropolitan area.
32-42 BROADWAY: The 32-42 Broadway loan (identified as Loan No. 6 on Annex A to
the prospectus supplement) is secured by a first lien on a 21-story multi-tenant
office building and an adjacent 18-story multi-tenant office building, each
located in Manhattan, New York. The buildings contain approximately 526,481
square feet of net leasable area. The buildings were constructed in 1904 and
1898, respectively, and renovated in 1999. As of May 2000, the mortgaged
property was approximately 96.7% occupied. The sponsor of the borrower is Rubin
Schron.
EMBASSY SUITES ATLANTA (BUCKHEAD): The Embassy Suites Atlanta (Buckhead) loan
(identified as Loan No. 38 on Annex A to the prospectus supplement) is secured
by a first lien on a full service hotel located in the "Buckhead" section of the
City of Atlanta. The hotel contains approximately 317 suites. The hotel was
built in 1988. As of December 1999, the occupancy rate of the mortgaged property
for the prior 12 months was approximately 76.3%. The sponsor of the borrower is
FelCor Lodging Trust Incorporated, a publicly traded, Dallas-based, real estate
investment trust. At 1999 year end FelCor Lodging Trust Incorporated's portfolio
consisted of approximately 188 hotels with nearly 50,000 rooms.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 8 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
TEN LARGEST LOANS (continued)
CROSS COUNTY PLAZA: The Cross County Plaza loan (identified as Loan No. 32 on
Annex A to the prospectus supplement) is secured by a first lien on an anchored
community shopping center in West Palm Beach, Florida. Cross County Plaza
contains approximately 351,343 square feet of net leasable area and is anchored
by K-Mart, Winn-Dixie, Ross Dress for Less, and Linens and Things. The center
contains additional outparcels, including Chili's, which are owned by third
parties and are not part of the collateral. The center was constructed in 1998
and as of March 2000, the mortgaged property was approximately 96.3% occupied.
The sponsor of the borrower is Swerdlow Real Estate Group, Inc, a private REIT.
The REIT owns 11 commercial properties in various stages of developments
containing over 3,400,000 square feet of net leasable area, primarily in South
Florida.
EASTERN BELTWAY CENTER: The Eastern Beltway Center loan (identified as Loan No.
35 on Annex A to the prospectus supplement) is secured by a first lien on an
anchored multi-tenant retail destination center located in Las Vegas, Nevada.
The center contains approximately 388,862 square feet of net leasable area and
is anchored by Home Depot, Sam's Club, Wal-Mart Supercenter, Office Max, Ross
Dress For Less and PetCo. The center was constructed in 1999. As of February
2000, the mortgaged property was approximately 97.9% occupied. The sponsor of
the borrower is Olympia Land Corporation.
EMBASSY SUITES SOUTH SAN FRANCISCO: The Embassy Suites South San Francisco loan
(identified as Loan No. 39 on Annex A to the prospectus supplement) is secured
by a first lien on a full service hotel located in the City of South San
Francisco. The hotel contains approximately 312 suites. The hotel was built in
1986 and most recently renovated in 1996. As of December 1999, the occupancy
rate of the mortgaged property for the prior 12 months was approximately 77.4%.
The sponsor of the borrower is FelCor Lodging Trust Incorporated, a publicly
traded, Dallas-based, real estate investment trust. At 1999 year end FelCor
Lodging Trust Incorporated's portfolio consisted of approximately 188 hotels
with nearly 50,000 rooms.
PACIFIC PLACE: The Pacific Place loan (identified as Loan No. 53 on Annex A to
the prospectus supplement) is secured by a first lien on an 11-story office
building located in San Pedro, California. The building contains a total of
approximately 275,920 square feet of net leasable area of office, 14,609 square
feet of ground level retail space and a free standing 7 level parking garage.
The building was constructed in 1990. As of May 2000, the mortgaged property was
approximately 89.2% occupied. The sponsor of the borrower is Tutor-Saliba
Corporation which is 100% owned by Ron Tutor.
MANSIONS BY THE LAKE: The Mansions by the Lake loan (identified as Loan No. 47
on Annex A to the prospectus supplement) is secured by a first lien on a
315-unit apartment complex consisting of 45 two story buildings located in
Coppell, Texas, a suburb of Dallas. The complex contains 90 one-bedroom units,
135 two-bedroom units, 45 three-bedroom units and 45 four-bedroom units.
Amenities include tennis courts, a full-court basketball court, volleyball
court, adult swimming pool, children's swimming pool and play area, mini-golf
driving range, 2 on-site lakes with jogging trails and a clubhouse. The complex
was constructed between 1998 and 1999. As of February 2000, the mortgaged
property was approximately 97.8% occupied. The sponsor of the borrower is Marcus
Hiles. Mr. Hiles owns or has ownership interests in 16 apartment complexes
comprising over 3,800 units.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 9 of 10
<PAGE>
CHASE [LOGO]
THE RIGHT RELATIONSHIP EVERYTHING(Registered Trademark)
TEN LARGEST LOANS (continued)
AEC II WINDSOR PINES APARTMENTS: The Windsor Pines Apartments loan (identified
as Loan No. 20 on Annex A to the prospectus supplement) is secured by a first
lien on a 368-unit, luxury garden apartment complex consisting of 11 three-story
buildings located in Pembroke Pines, Broward County, Florida. The complex
contains 84 one-bedroom units, 210 two-bedroom units and 74 three-bedroom units.
Amenities available to residents include two community pools, a whirlpool spa,
clubhouse with business center, billiards room, two lane bowling alley, indoor
racquetball court, fitness complex, sauna, steam room, tennis courts, car wash
and 62 garages. The complex was constructed in 1998. As of December 1999, the
mortgaged property was approximately 94.3% occupied. The sponsor of the borrower
is Associated Estates Realty Corporation, a NYSE listed company that manages 139
multifamily properties in the United States.
CIVIC CENTER PLAZA: The Civic Center Plaza loan (identified as Loan No. 29 on
Annex A to this prospectus supplement) is secured by a first lien on an anchored
multi-tenant retail destination center located in Simi Valley, California. The
center contains approximately 145,217 square feet of net leasable area and is
anchored by Bed, Bath & Beyond and Regal Cinemas. The center was constructed in
1999. As of March 2000, the mortgaged property was approximately 97.4% occupied.
The sponsors of the borrower are CNA Enterprises, Inc. and Overland Capital
Corporation.
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
Page 10 of 10
<PAGE>
CHASE SECURITIES INC.
NEW ISSUE TERMS
CHASE COMMERCIAL MORTGAGE SECURITIES CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2000-2
$657,472,768
General Electric Capital Corporation - Mortgage Loan Seller
The Chase Manhattan Bank - Mortgage Loan Seller
Chase Commercial Mortgage Securities Corp. - Depositor
GE Capital Loan Services, Inc. - Master Servicer
Lend Lease Asset Management, L.P. - Special Servicer
Norwest Bank Minnesota, National Association - Trustee
--------------------------------------------------------------------------------
SUMMARY OF TRANCHES
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
INITIAL CLASS ASSUMED WEIGHTED PRINCIPAL OR
CERTIFICATE PASS-THROUGH FINAL AVERAGE NOTIONAL RATINGS
BALANCE OR APPROX. CREDIT RATE DISTRIBUTION LIFE PRINCIPAL (MOODY'S/
CLASS NOTIONAL AMOUNT(1) SUPPORT DESCRIPTION DATE(5) (APPROX.)(6) WINDOW(6) FITCH)
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $118,980,000 24.000% Fixed 10/15/09 5.70 7/00-10/09 Aaa/AAA
A-2 $442,457,420 24.000% Fixed 6/15/10 9.83 10/09-6/10 Aaa/AAA
X $738,733,448 N/A WAC (IO)(2) 1/15/20 9.31 7/00-1/20 Aaa/AAA
B $26,779,086 20.375% Fixed (WAC CAP)(3) 6/15/10 9.96 6/10-6/10 Aa2/AA
C $34,166,423 15.750% Fixed (WAC CAP)(3) 6/15/10 9.96 6/10-6/10 A2/A
D $12,004,419 14.125% Fixed (WAC CAP)(3) 7/15/10 9.99 6/10-7/10 A3/A-
E $23,085,420 11.000% Variable(4) 7/15/10 10.05 7/10-7/10 Baa2/BBB
-------------------------------------------------------------------------------------------------------------------------------
F $12,927,835 N/A Variable(4) N/A N/A N/A N/A
G $12,927,834 N/A Fixed(3) N/A N/A N/A N/A
H $18,468,338 N/A Fixed(3) N/A N/A N/A N/A
I $5,540,501 N/A Fixed(3) N/A N/A N/A N/A
J $7,387,334 N/A Fixed(3) N/A N/A N/A N/A
K $9,234,168 N/A Fixed(3) N/A N/A N/A N/A
L $3,693,667 N/A Fixed(3) N/A N/A N/A N/A
M $11,081,002 N/A Fixed(3) N/A - - N/A N/A N/A
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Shaded rows are tranches not part of this offering, and are shown for
informational purposes only.
The Class S, Class R and Class LR certificates are not offered by the prospectus
supplement or represented in this table.
(1) Approximate, subject to a permitted variance of plus or minus 10%.
1
<PAGE>
(2) The pass-through rate on the Class X certificates will be equal to the
excess, if any, of (1) the weighted average of the net interest rates on
the mortgage loans (in each case adjusted to accrue on the basis of a
360-day year consisting of twelve 30-day months), over (2) the weighted
average of the pass-through rates of the other certificates (other than the
residual certificates and the Class S certificate) as described in the
prospectus supplement.
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans (in each case adjusted to accrue on the basis
of a 360-day year consisting of twelve 30-day months) as of the first day
of the related due period is less than the rate specified for the Class B,
Class C, Class D, Class G, Class H, Class I, Class J, class K, Class L or
Class M certificates with respect to the distribution date, then the pass
through rate for that class of certificates on that distribution date will
equal the weighted average net mortgage interest rate.
(4) The pass-through rate applicable to the Class E and Class F certificates on
each distribution date will be equal to the weighted average of the net
interest rates on the mortgage loans (in each case adjusted to accrue on
the basis of a 360-day year consisting of twelve 30-day months) minus __%
per annum.
(5) The assumed final distribution dates set forth in the prospectus supplement
have been determined on the basis of the assumptions described in
"Description of the Certificates--Assumed Final Distribution Date; Rated
Final Distribution Date" in the prospectus supplement. The rated final
distribution date for each class of certificates is July 15, 2032. See
"Description of the Certificates--Assumed Final Distribution Date; Rated
Final Distribution Date" in the prospectus supplement.
(6) The weighted average life and period during which distributions of
principal would be received (or applied in the case of the notional amount
of Class X certificates) set forth in the foregoing table with respect to
each class of certificates is based on the assumptions set forth under
"Yield and Maturity Considerations--Weighted Average Life" in the
prospectus supplement and on the assumptions that there are no prepayments
(other than on each anticipated prepayment date, if any), or losses on the
mortgage loans and that there are no extensions of maturity dates of
mortgage loans.
COLLATERAL CHARACTERISTICS*
<TABLE>
<CAPTION>
<S> <C>
AGGREGATE PRINCIPAL BALANCE(1) $738,733,448
NO. OF MORTGAGE LOANS 81
NO. OF MORTGAGED PROPERTIES 81
NO. OF "BALLOON" MORTGAGE LOANS(2) 80
NO. OF INTEREST-ONLY LOANS(3) 1
NO. OF FULLY AMORTIZING MORTGAGE LOANS 1
NO. OF MORTGAGE LOANS WITH ANTICIPATED PREPAYMENT DATES 3
RANGE OF MORTGAGE LOAN PRINCIPAL BALANCES $654,615 TO $43,500,000
AVERAGE MORTGAGE LOAN PRINCIPAL BALANCE $9,120,166
RANGE OF MORTGAGE RATES 7.09% - 9.00%
WEIGHTED AVERAGE MORTGAGE RATE 8.36%
WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY DATE (4) 119 MONTHS
RANGE OF REMAINING TERMS TO MATURITY DATE (4) 57-235 MONTHS
WEIGHTED AVERAGE REMAINING TERM TO MATURITY DATE (4) 117 MONTHS
WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM (5) 353 MONTHS
WEIGHTED AVERAGE REMAINING AMORTIZATION TERM (5) 351 MONTHS
WEIGHTED AVERAGE LOAN TO VALUE RATIO (LTV) (6) 69.69%
WEIGHTED AVERAGE LTV AS OF THE MATURITY DATE (4) (6) 62.53%
WEIGHTED AVERAGE OCCUPANCY RATE(7) 94.41%
WEIGHTED AVERAGE DEBT SERVICE COVERAGE RATIO (6) 1.34X
</TABLE>
2
<PAGE>
*The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
(1) Subject to a permitted variance of plus or minus 10%.
(2) Includes 3 mortgage loans with an anticipated prepayment dates.
(3) In addition, 5 mortgage loans, representing approximately 7.59% of the
aggregate principal balance of all mortgage loans as of the cut-off
date, pay interest-only for the first 24 months of their term.
(4) In the case of 3 mortgage loans the anticipated prepayment date.
(5) Excludes the mortgage loan that pays interest-only for the life of the
loan.
(6) Excludes 1 credit tenant lease loan, representing approximately 0.27%
of the aggregate principal balance of all mortgage loans as of the
cut-off date.
(7) Includes 2 hotel properties, representing approximately 8.73% of the
aggregate principal balance of the pool of mortgage loans as of the
cut-off date, which have occupancy rates that generally range from
76.3%-77.4%; if the mortgage loans secured by hotel properties are
excluded, the weighted average occupancy rate of all other mortgaged
properties is 78.8% to 100% and the weighted average occupancy rate of
all other mortgage properties is 96.1%.
Investors in the United States and Latin America may obtain a prospectus by
contacting Chase Securities Inc., 270 Park Avenue, 8th Floor, New York, New York
10017, Attention: Syndicate Desk, Telephone No.: 1 212 834 3813. Investors in
the European Economic Area may obtain a prospectus from Chase Manhattan
International Limited, 125 London Wall, London EC2Y 5AJ, United Kingdom,
Attention: Syndicate Desk, Telephone No.: 44 207 777 3334
Investors in the Untied States and Latin America who want to submit an order,
please call your salesperson at Chase Securities Inc. Investors in the European
Economic Area who want to place an order, please call your salesperson at Chase
Manhattan International Limited.
3
<PAGE>
CCMSC 2000-2
CHANGES FROM PRELIMINARY PROSPECTUS SUPPLEMENT ANNEX A
Annex A Loan ID: 1
Loan Name: 111 Livingston Street
OLD TERMS
Mortgage Rate: 9.00%
Monthly Debt Service: 350,010.84
NEW TERMS
Mortgage Rate: 8.60%
Monthly Debt Service: 337,565.10
REASON FOR CHANGE
Loan rate-locked after printing of preliminary prospectus supplement
