<PAGE>
================================================================================
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) August 2, 1999
---------------------
GMAC Commercial Mortgage Securities, Inc.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware
- --------------------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
333-64963 23-2811925
- --------------------------------- --------------------------------------
(Commission File Number) (I.R.S. Employer Identification No.)
650 Dresher Road, Horsham, Pennsylvania 19044
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(215) 328-3164
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
================================================================================
<PAGE>
ITEM 5. OTHER EVENTS.
In August 1999, the Registrant will cause the issuance and sale of
approximately $1,170,000,000 initial principal amount of various classes of
Mortgage Pass-Through Certificates, Series 1999-C3 (the "Certificates") pursuant
to a Pooling and Servicing Agreement to be dated as of August 1, 1999, among the
Registrant, GMAC Commercial Mortgage Corporation, as Servicer, and Norwest Bank
Minnesota, National Association, as Trustee. In connection with the sale of
certain classes of the Certificates to the public (the "Publicly Offered
Certificates"), the Registrant has been advised by Deutsche Bank Securities Inc.
and Goldman, Sachs & Co. (together, the "Underwriters"), that the Underwriters
have furnished to prospective investors certain descriptive information
regarding the mortgage loans (the "Mortgage Loans") underlying the Certificates
that set forth the number of Mortgage Loans, the principal balance of the
Mortgage Loans, information regarding the mortgage rates thereon and
miscellaneous similar items (the "Collateral Term Sheets") following the
effective date of Registration Statement No. 333-64963 but prior to the
availability of a final Prospectus relating to the Publicly Offered
Certificates. The Collateral Term Sheets are being filed as an exhibit to this
report.
The Collateral Term Sheets attached hereto have been provided by the
Underwriters. The information in the Collateral Term Sheets is preliminary and
may be superseded by the Prospectus Supplement relating to the Publicly Offered
Certificates and by any other information subsequently filed with the Securities
and Exchange Commission.
-2-
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
List below the financial statements, pro forma financial information
and exhibits, if any, filed as part of this report.
(a) Financial Statements of Business Acquired
Not applicable
(b) Pro Forma Financial Information
Not applicable
(c) Exhibits.
99.1 Collateral Term Sheets prepared by the Underwriters in
connection with the sale of the Publicly Offered
Certificates of the Registrant.
-3-
<PAGE>
SIGNATURES
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.
GMAC COMMERCIAL MORTGAGE SECURITIES, INC.
(Registrant)
Dated: August 4, 1999 By:/s/ DAVID LAZARUS
______________________________________
Name: David Lazarus
Title: Vice President
-4-
<PAGE>
INDEX TO EXHIBITS
Exhibit
No. Document Description
- ------- --------------------
99.1 Collateral Term Sheets prepared by the Underwriters in connection
with the sale of the Publicly Offered Certificates of the Registrant.
-5-
<PAGE>
This material is for your private information and we are not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do not represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may be
based on assumptions regarding market conditions and other matters as reflected
therein. We make no representations regarding the reasonableness of such
assumptions or the likelihood that any of such assumptions will coincide with
actual market conditions or events, and this material should not be relied upon
for such purposes. We and our affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including in cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. All information in this spreadsheet, whether regarding the assets
backing any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you.
This material is furnished to you by Deutsche Bank Securities and Goldman, Sachs
& Co. and not by the issuer of the securities. Deutsche Bank Securities, Inc.
and Goldman, Sachs & Co. are acting as the lead managers and neither of these
parties are acting as agent for the issuer or its affiliates in connection with
the proposed transaction. Neither the issuer nor any of its affiliates has
prepared or taken part in the preparation of these materials and neither makes
any representation as to the accuracy of these materials.
<PAGE>
GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1999-C3
<TABLE>
<CAPTION>
LOAN
NUMBER PROPERTY NAME CITY COUNTY
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
21584 Texas Development Investors Apartment Portfolio
21584A Willow Creek Apartments Houston Harris
21584B Bellfort Southwest IV and V Apartments Houston Harris
21584C Southwest Village Apartments Houston Harris
21584D Bellfort Southwest III Houston Harris
- --------------------------------------------------------------------------------------------------------------------------------
GA5851 Alliance TP Portfolio
GA5851-A Alliance TP - Mulberry Lane Apartments Midland Midland
GA5851-B Rambletree Apartments Glen Ellyn DuPage
GA5851-C Robin Oaks Apartments Midland Midland
GA5614 Sherwood Lakes Apartments Schererville Lake County
- --------------------------------------------------------------------------------------------------------------------------------
22748 Laurel Apartment Portfolio
22748A Laurel Walk Apartments Charlotte Mecklenburg
22748B Laurel Oaks Apartments Raleigh Wake
22748C Laurel Springs Apartments Raleigh Wake
TA1103 Village Square Apartments Indianapolis Marion
- --------------------------------------------------------------------------------------------------------------------------------
23908 Tivoli Lakes Club Apartments Deerfield Beach Broward
23650 Columbus Park Apartments Bedford Cuyahoga
09-0001248 Plantation Oaks College Station Brazos
22396 Riverbend and Cedar Lake Apartments
22396A Riverbend Apartments Norman Cleveland
22396B Cedar Lake Apartments Norman Cleveland
- --------------------------------------------------------------------------------------------------------------------------------
22471 Austin Lights Apartments Austin Travis
19169 St. Augustine Hills Apartments Tallahassee Leon
22603 The Bridgeport Apartments Huntington Beach Orange
09-0001260 Chimney Apartments El Paso El Paso
- --------------------------------------------------------------------------------------------------------------------------------
TA5740 Jackson Heights Portfolio
TA5740-A 35-18 95th Street Jackson Heights Queens
TA5740-B 35-24 95th Street Jackson Heights Queens
TA5740-C 35-38 95th Street Jackson Heights Queens
TA5740-D 35-44 95th Street Jackson Heights Queens
TA5740-E 93-35 Lamont Avenue Elmhurst Queens
- --------------------------------------------------------------------------------------------------------------------------------
911660589 1110-1120 Beacon Street Brookline Norfolk
22788 Plaza Apartments Tallahassee Leon County
22124 Chase Hill Apartments San Antonio Bexar
22252 Villa Mirage Apartments Lancaster Los Angeles
20670 Summerchase Apartments Prattville Autauga
- --------------------------------------------------------------------------------------------------------------------------------
TA2352 Satcoms Apartments
TA2352-A Satcoms - French Quarter Apartments Lincoln Lancaster
TA2352-B Crescent Plaza Apartments Lincoln Lancaster
TA2352-C 2101 D Street Apartments Lincoln Lancaster
TA2352-D Willow Wood Apartments Lincoln Lancaster
TA2352-F Arapahoe Village Apartments Lincoln Lancaster
- --------------------------------------------------------------------------------------------------------------------------------
09-0001242 Sharpstown Garden Apartments Houston Harris
902803901 15 Dutch Street New York New York
901851850 Summer Pointe & Windrock Apartments Norman Cleveland
TA4664 St. James Garden Apartments Chester Delaware
907120356 Community Manor Apartments Henrietta Monroe
- --------------------------------------------------------------------------------------------------------------------------------
09-0001257 Courts of McCallum Apartments Dallas Collin
TA7792 Mallard Creek Apartments Statesville Iredell
TA6788 106 South Harrison Street Apartments East Orange Essex
21702 Remond Cliff Plaza Apartments Dallas Dallas
23193 Rivercrest Apartments Albany Dougherty/Lee Counties
- --------------------------------------------------------------------------------------------------------------------------------
21956 Canden-Damada Apartments Portage Porter
09-0001245 Citadel Apartments Kansas City Jackson
21857 Los Olivos Apartments Phoenix Maricopa
21775 Wickham Gardens Condominiums East Hartford Hartford
21159 The Commodore Apartments Vicksburg Warren
- --------------------------------------------------------------------------------------------------------------------------------
18842 South Park Apartments Manchester Hartford
23338 Logan Point Apartments Riverside Riverside
18035 Canyon Hills Apartments El Paso El Paso
22494 Oak Forest Apartments Bryan-College Station Brazos
23294 Park West I Apartments Atlanta Fulton
- --------------------------------------------------------------------------------------------------------------------------------
TA4080 120 South Harrison Street East Orange Essex
TA5681 Park Villa Apartments Oxford Oakland
21856 13400 Victory Apartments Valley Glen Los Angeles
09-0001259 Hideaway Apartments Tulsa Tulsa
<PAGE>
<CAPTION>
GMAC COMMERCIAL MORTGAGE SECURITIES 1999-C3
INITIAL
LOAN INITIAL POOL POOL BALANCE
NUMBER STATE ZIP CODE BALANCE ($) PER UNIT ($) UTILITIES PAID BY TENANT
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
21584 26,943,812 11,634 -
21584A Texas 77012 - - Electricity/Cable
21584B Texas 77071 - - Electricity/Cable
21584C Texas 77477 - - Electricity/Cable
21584D Texas 77035 - - Electricity/Cable
- -------------------------------------------------------------------------------------------------------------------------------
GA5851 24,905,460 37,736 -
GA5851-A Michigan 48642 - - Electricity
GA5851-B Illinois 60137 - - Electricity
GA5851-C Michigan 48642 - - Electricity
GA5614 Indiana 46375 20,181,152 35,037 None
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22748 17,961,949 46,776 -
22748A North Carolina 28270 - - Gas/Electricity/Cable
22748B North Carolina 27613 - - Gas/Electricity/Cable
22748C North Carolina 27609 - - Gas/Electricity/Cable
TA1103 Indiana 46224 15,004,509 24,437 Electricity
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23908 Florida 33441 13,600,000 48,921 Gas/Electricity/Cable
23650 Ohio 44146 12,250,000 19,600 Electricity/Cable
09-0001248 Texas 77840 9,445,587 21,084 Electricity
22396 9,237,180 25,101 -
22396A Oklahoma 73071 - - Gas/Electricity/Cable
22396B Oklahoma 73072 - - Gas/Electricity/Cable
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22471 Texas 78723 7,346,276 25,686 Water/Electricity/Cable
19169 Florida 32301 6,993,350 39,735 Water/Gas/Electricity/Cable
22603 California 92649 6,031,716 91,390 Gas/Electricity/Cable
09-0001260 Texas 79912 5,800,000 25,893 Electricity
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TA5740 5,722,696 33,663 -
TA5740-A New York 11372 - - Gas/Electricity
TA5740-B New York 11372 - - Gas/Electricity
TA5740-C New York 11372 - - Gas/Electricity
TA5740-D New York 11372 - - Gas/Electricity
TA5740-E New York 11372 - - Gas/Electricity
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911660589 Massachusetts 02146 5,700,000 142,500 Electricity
22788 Florida 32304 5,200,000 17,993 Gas/Electricity
22124 Texas 78256 4,989,311 24,947 Electricity/Cable
22252 California 93534 4,919,467 15,373 Gas/Electricity/Cable
20670 Alabama 36066 4,897,430 32,220 Gas/Electricity/Cable
- -------------------------------------------------------------------------------------------------------------------------------
TA2352 4,676,894 18,058 -
TA2352-A Nebraska 68503 - - Unavailable
TA2352-B Nebraska 68504 - - Unavailable
TA2352-C Nebraska 68502 - - Unavailable
TA2352-D Nebraska 68502 - - Unavailable
TA2352-F Nebraska 68502 - - Unavailable
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09-0001242 Texas 77074 4,494,595 11,379 108 Tenants pay Electricity
902803901 New York 10038 4,440,000 341,538 Electricity
901851850 Oklahoma 73072 4,059,000 21,141 Electricity
TA4664 Pennsylvania 19013 3,959,525 17,366 Electricity
907120356 New York 14623 3,740,000 28,333 Electricity
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09-0001257 Texas 75252 3,483,582 24,192 Electricity
TA7792 North Carolina 28677 3,345,594 21,175 Electricity
TA6788 New Jersey 07019 3,265,023 27,209 Gas/Electricity
21702 Texas 75211 3,196,011 29,055 None
23193 Georgia 31705 2,746,460 22,887 Water/Gas/Electricity/Cable
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21956 Indiana 46368 2,596,494 25,965 Electricity/Cable
09-0001245 Missouri 64110 2,556,754 15,590 Electricity
21857 Arizona 85021 2,255,360 35,240 Gas/Electricity/Cable
21775 Connecticut 06108 2,078,934 25,047 Electricity/Cable
21159 Mississippi 39180 2,078,804 20,788 Electricity/Cable
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18842 Connecticut 06040 2,047,235 34,699 Electricity/Cable
23338 California 92501 1,960,000 33,793 Gas/Electricity/Cable
18035 Texas 79904 1,796,627 16,333 Gas/Electricity/Cable
22494 Texas 77801 1,670,000 23,194 Electricity/Cable
23294 Georgia 30331 1,325,000 13,250 Gas/Electricity/Cable
- -------------------------------------------------------------------------------------------------------------------------------
TA4080 New Jersey 07018 1,235,151 27,448 Gas/Electricity
TA5681 Michigan 48371 1,090,010 30,278 Gas/Electricity
21856 California 91401 869,571 31,056 Gas/Electricity/Cable
09-0001259 Oklahoma 74105 799,426 19,498 None
<PAGE>
<CAPTION>
GMAC COMMERCIAL MORTGAGE SECURITIES 1999-C3
STUDIOS 1 BEDROOM 2 BEDROOM 3 BEDROOM
------- --------- --------- ---------
LOAN AVG RENT AVG RENT AVG RENT AVG RENT
NUMBER # UNITS PER MO. ($) # UNITS PER MO. ($) # UNITS PER MO. ($) # UNITS PER MO. ($)
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
21584
21584A 0 0 1,401 374 276 518 0 0
21584B 3 275 166 345 168 469 8 585
21584C 0 0 118 394 80 536 0 0
21584D 4 315 32 375 60 479 0 0
- ------------------------------------------------------------------------------------------------------------------
GA5851
GA5851-A 0 0 22 535 198 595 44 705
GA5851-B 0 0 152 654 100 852 12 1,000
GA5851-C 0 0 36 540 96 550 0 0
GA5614 0 0 252 550 324 653 0 0
- ------------------------------------------------------------------------------------------------------------------
22748
22748A 0 0 48 650 50 836 0 0
22748B 0 0 106 635 58 846 0 0
22748C 0 0 50 660 72 851 0 0
TA1103 0 0 184 453 340 543 90 672
- ------------------------------------------------------------------------------------------------------------------
23908 0 0 134 762 144 890 0 0
23650 0 0 208 465 393 600 24 725
09-0001248 0 0 272 410 150 572 24 805
22396
22396A 0 0 108 372 108 478 0 0
22396B 0 0 76 384 76 501 0 0
- ------------------------------------------------------------------------------------------------------------------
22471 0 0 65 495 220 642 1 641
19169 0 0 132 569 44 670 0 0
22603 0 0 15 765 33 1,217 18 1,427
09-0001260 0 0 144 432 80 575 0 0
- ------------------------------------------------------------------------------------------------------------------
TA5740
TA5740-A 0 0 1 676 19 667 0 0
TA5740-B 0 0 0 0 20 569 0 0
TA5740-C 0 0 0 0 20 583 0 0
TA5740-D 0 0 0 0 20 652 0 0
TA5740-E 38 540 51 570 1 0 0 0
- ------------------------------------------------------------------------------------------------------------------
911660589 0 0 3 1,533 31 1,662 6 1,865
22788 68 405 162 380 48 560 11 677
22124 32 379 60 457 107 551 1 935
22252 0 0 64 475 232 500 24 650
20670 0 0 64 475 64 565 24 675
- ------------------------------------------------------------------------------------------------------------------
TA2352
TA2352-A 0 0 11 350 36 431 0 0
TA2352-B 0 0 21 395 33 480 0 0
TA2352-C 0 0 14 370 0 0 0 0
TA2352-D 0 0 23 350 73 409 0 0
TA2352-F 0 0 36 380 12 497 0 0
- ------------------------------------------------------------------------------------------------------------------
09-0001242 0 0 232 366 125 484 38 592
902803901 13 3481 0 0 0 0 0 0
901851850 0 0 88 396 90 509 8 558
TA4664 0 0 144 457 84 550 0 0
907120356 0 0 66 568 66 653 0 0
- ------------------------------------------------------------------------------------------------------------------
09-0001257 0 0 125 459 19 627 0 0
TA7792 0 0 63 365 95 456 0 0
TA6788 0 0 83 600 37 700 0 0
21702 0 0 20 485 50 575 30 650
23193 0 0 0 0 0 0 120 523
- ------------------------------------------------------------------------------------------------------------------
21956 0 0 19 464 81 552 0 0
09-0001245 0 0 68 418 96 496 0 0
21857 0 0 0 0 49 619 15 778
21775 0 0 48 555 35 638 0 0
21159 0 0 48 442 36 0 16 0
- ------------------------------------------------------------------------------------------------------------------
18842 0 0 33 595 26 695 0 0
23338 0 0 24 495 29 601 5 725
18035 0 0 32 412 72 496 6 625
22494 0 0 0 0 72 432 0 0
23294 0 0 0 0 88 450 12 495
- ------------------------------------------------------------------------------------------------------------------
TA4080 7 425 13 602 16 912 9 967
TA5681 0 0 25 475 10 565 1 685
21856 3 450 21 550 4 700 0 0
09-0001259 0 0 31 526 10 625 0 0
<PAGE>
<CAPTION>
GMAC COMMERCIAL MORTGAGE SECURITIES 1999-C3
4 BEDROOM 5 BEDROOM
--------------------- --------------------- NUMBER
LOAN AVG RENT AVG RENT OF
NUMBER # UNITS PER MO. ($) #UNITS PER MO. ($) ELEVATORS
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
21584
21584A 0 0 0 0 0
21584B 0 0 0 0 0
21584C 0 0 0 0 0
21584D 0 0 0 0 0
- -------------------------------------------------------------------------------
GA5851
GA5851-A 0 0 0 0 0
GA5851-B 0 0 0 0 0
GA5851-C 0 0 0 0 0
GA5614 0 0 0 0 0
- -------------------------------------------------------------------------------
22748
22748A 0 0 0 0 0
22748B 0 0 0 0 0
22748C 0 0 0 0 0
TA1103 0 0 0 0 0
- -------------------------------------------------------------------------------
23908 0 0 0 0 0
23650 0 0 0 0 10
09-0001248 1 1,150 1 1,450 0
22396
22396A 0 0 0 0 0
22396B 0 0 0 0 0
- -------------------------------------------------------------------------------
22471 0 0 0 0 0
19169 0 0 0 0 0
22603 0 0 0 0 0
09-0001260 0 0 0 0 0
- -------------------------------------------------------------------------------
TA5740
TA5740-A 0 0 0 0 0
TA5740-B 0 0 0 0 0
TA5740-C 0 0 0 0 0
TA5740-D 0 0 0 0 0
TA5740-E 0 0 0 0 2
- -------------------------------------------------------------------------------
911660589 0 0 0 0 2
22788 0 0 0 0 0
22124 0 0 0 0 0
22252 0 0 0 0 0
20670 0 0 0 0 0
- -------------------------------------------------------------------------------
TA2352
TA2352-A 0 0 0 0 0
TA2352-B 0 0 0 0 0
TA2352-C 0 0 0 0 0
TA2352-D 0 0 0 0 0
TA2352-F 0 0 0 0 0
- -------------------------------------------------------------------------------
09-0001242 0 0 0 0 0
902803901 0 0 0 0 2
901851850 6 800 0 0 0
TA4664 0 0 0 0 0
907120356 0 0 0 0 0
- -------------------------------------------------------------------------------
09-0001257 0 0 0 0 0
TA7792 0 0 0 0 0
TA6788 0 0 0 0 2
21702 10 715 0 0 0
23193 0 0 0 0 0
- -------------------------------------------------------------------------------
21956 0 0 0 0 0
09-0001245 0 0 0 0 0
21857 0 0 0 0 0
21775 0 0 0 0 0
21159 0 0 0 0 0
- -------------------------------------------------------------------------------
18842 0 0 0 0 0
23338 0 0 0 0 0
18035 0 0 0 0 0
22494 0 0 0 0 0
23294 0 0 0 0 0
- -------------------------------------------------------------------------------
TA4080 0 0 0 0 1
TA5681 0 0 0 0 0
21856 0 0 0 0 0
09-0001259 0 0 0 0 0
</TABLE>
