
                       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, as amended


                          Date of Report: May 2324, 2005
                                                  ---------------------------------
                        (date of earliest event reported)



                    GMAC COMMERCIAL MORTGAGE SECURITIES, INC.
                                   --------------------------------------------------
               (Exact name of Registrant as Specified in Charter)

<TABLE>
               

           Delaware                                            333-123974                                    23-2811925
                          --------                                            ----------                                    ----------
                    (State or Other                                    (Commission                            (I.R.S. Employer
    Jurisdiction of Incorporation)                     File Number)                      Identification Number)
</TABLE>


                                 200 Witmer Road
                                 ---------------
                           Horsham, Pennsylvania 19044
                           ---------------------------
                    (Address of Principal Executive Offices)
                                   (Zip Code)


       Registrant's telephone number, including area code: (215) 328-3164
                                                           --------------

                                 Not Applicable
                                 --------------
          (Former Name or Former Address, if Changed Since Last Report)







Items 1 through 7 are not included because they are not applicable.

Item 8.01.        Other Events
------------------------------

Filing of ComputationalStructural MaterialsTerm Sheets

                  In connection with the proposed offering of the GMAC
Commercial Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series
2005-C1 Class A-1, Class A-1A, Class A-2, Class A-3, Class-A-4, Class A-J, Class
B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class
L, Class M, Class N, Class O, Class P, Class X-1, Class X-2, Class R-I, Class
R-II and Class R-III (the "CertificatesNotes"; the Class A-1, Class A-1A, Class A-2,
Class A-3, Class A-4, Class X-2, Class A-J, Class B, Class C, and Class D
Certificates being the "Publicly Offered Certificates"), the Registrant has been
advised by Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc. and
GMAC GMAC
Commercial Holding Capital Markets Corp. as underwriters (collectively, the
"Underwriters"), that, in connection with the sale of the Publicly Offered
Certificates, the Underwriters have furnishedprepared to prospective investors certain
written descriptionsmaterials of (the securities"Structural toTerm be offered that set forth the name ofSheets")
thefor issuer,distribution theto size of the potential offering (einvestors.g. theAlthough numberGMAC ofCommercial classes,Mortgage
senioritySecurities, interestInc. rate) and miscellaneous similar items (the "Computational
MaterialsCompany") withprovided respect to the PubliclyUnderwriter Offeredwith Certificates following the
effective date of Registration Statement No. 333-123974 but prior to the
availability of a final Prospectus relating to the Publicly Offered
Certificates. The Computational Materials are being filed as an exhibit to this
report.

                  The Computational Materials were prepared by the Underwriters
at the request of certain prospective investors, based on assumptions provided
by, and satisfying the special requirements of, such prospective investors. The
Computational Materials may be based on assumptions that differ from the
assumptions set forth in the Prospectus Supplement. The Computational Materials
may not include, and do not purport to include, information basedregarding on assumptions
representing a complete set of possible scenarios. Accordingly, the
Computational Materials may not be relevant to or appropriate for investors
other than those specifically requesting them.

                  In addition, the actual characteristics and performance of the
 mortgage loans underlying the Certificates (the "Mortgage 
Loans") may differ
from the assumptions used in the Computationalrelated Materialsportfolio, which are hypothetical
in nature and which were provided to certain investors only to give a general
sense of how the yield,Company averagedid life,not duration,participate expectedin maturity, interest ratethe
sensitivitypreparation and cash flow characteristics of a particular class of Certificates
might vary under varying prepayment and other scenarios. Any difference between
such assumptions and the actualStructural characteristicsTerm and performance of the Mortgage
Loans will affect the actual yield, average life, duration, expected maturity,
interest rate sensitivity and cash flow characteristics of the CertificatesSheets.

                  For purposes of this Form 8-K, "ComputationalStructural MaterialsTerm Sheets" shall
mean computer generated tables and/or charts displaying, with respect to the
Notes, any of the following: yield; average life; duration, expected maturity;
interest rate sensitivity; loss sensitivity; cash flow characteristics;
background information regarding the Mortgage Loans; the proposed structure;
decrement tables; or similar information (tabular or otherwise) of a
statistical, mathematical, tabular or computational nature. The ComputationalStructural Term
MaterialsSheets listed as ExhibitExhibits 99.1 hereto are filed herewith.








                                                                             -2-





Item 9.01.   Financial Statements, Pro Forma Financial Information and Exhibits
-----------------------------------------------------------------------------

(a)    Not applicable.

(b)    Not applicable.

(c)    Exhibits:

          99.1        Computational Materials prepared by the Underwriters in
               connection connection
           with the sale of the Publicly Offered Certificates
                of the Registrant.































                                      -3-






                                   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



                                                                                   By:   /s/ DavidVictor LazarusDiaso
                                                                                            ---------------------------------------
                                                                                            Name:   DavidVictor LazarusDiaso
                                                                                            Title:  Vice President




Date:    May 2324, 2005






















EXHIBIT INDEX

Exhibit No.          Description of Exhibit
-----------          ----------------------

99.1                        Computational Materials prepared by the Underwriters in connection
                  connection with the sale of the Publicly Offered 
                  Certificates of the Registrant.
Filing Compare · CAPMARK MORTGAGE SECURITIES INC
