8-K 1 msc03iq4.txt JANUARY 8K 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 : January 15,2004 (Date of earliest event reported) Commission File No.: 333-104283-01 Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-IQ4 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-2116922 54-2116923 54-2116924 54-2116925 54-2116926 54-2116927 54-6553619 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) ITEM 5. Other Events On January 15,2004 a distribution was made to holders of Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-IQ4 ITEM 7. Financial Statements and Exhibits (c) Exhibits Item 601(a) of Regulation S-K Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2003-IQ4 relating to the January 15, 2004 distribution. 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. Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-IQ4 By: Wells Fargo Bank Minnesota, N.A., as Paying Agent By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 16, 2004 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates Series 2003-IQ4, relating to the January 15, 2004 distribution. EX-99.1 Wells Fargo Bank MN, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-IQ4 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: 01/15/2004 Record Date: 12/31/2003 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 14 Principal Prepayment Detail 15 Historical Detail 16 Delinquency Loan Detail 17 Specially Serviced Loan Detail 18 - 19 Modified Loan Detail 20 Liquidated Loan Detail 21 Depositor Morgan Stanley Capital I Inc. 1585 Broadway New York, NY 10036 Contact: General Information Number Phone Number: (212) 761-4700 Master Servicer GMAC Commercial Mortgage Corporation 200 Witmer Road Horsham, PA 19044-8015 Contact: Darri Cunningham Phone Number: (215) 328-1784 Special Servicer Midland Loan Services, Inc. 10851 Mastin Street, Bldg. 82 Suite 700 Overland Park, KS 66210 Contact: Brad Hauger Phone Number: (913) 253-9000 This report has been compiled from information provided to Wells Fargo Bank MN, N.A. by various third parties, which may include the Master Servicer, Special Servicer and others. Wells Fargo Bank MN, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2003, Wells Fargo Bank Minnesota, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Rate Balance Balance Distribution A-1 61745MQL0 3.270000% 178,879,000.00 ~~175~~174,~~748~~157,~~517~~548.2049 ~~772~~781,~~732~~506.4540 A-2 61745MQM8 4.070000% 449,730,000.00 449,730,000.00 0.00 B 61745MQN6 4.180000% 18,194,000.00 18,194,000.00 0.00 C 61745MQP1 4.270000% 23,652,000.00 23,652,000.00 0.00 D 61745MQQ9 4.340000% 4,549,000.00 4,549,000.00 0.00 E 61745MPY3 4.710000% 7,278,000.00 7,278,000.00 0.00 F 61745MPZ0 4.820000% 7,277,000.00 7,277,000.00 0.00 G 61745MQA4 5.490000% 8,188,000.00 8,188,000.00 0.00 H 61745MQB2 5.500000% 8,187,000.00 8,187,000.00 0.00 J 61745MQC0 5.500000% 3,639,000.00 3,639,000.00 0.00 K 61745MQD8 5.500000% 1,819,000.00 1,819,000.00 0.00 L 61745MQE6 5.500000% 5,459,000.00 5,459,000.00 0.00 M 61745MQF3 5.500000% 1,819,000.00 1,819,000.00 0.00 N 61745MQH9 5.500000% 1,819,000.00 1,819,000.00 0.00 O 61745MQJ5 5.500000% 7,278,609.00 7,278,609.00 0.00 R-1 N/A 0.000000% 0.00 0.00 0.00 R-2 N/A 0.000000% 0.00 0.00 0.00 R-3 N/A 0.000000% 0.00 0.00 0.00 EI N/A 0.000000% 0.00 0.00 0.00 Totals 727,767,609.00 ~~724~~723,~~637~~046,~~126~~157.2049 ~~772~~781,~~732~~506.4540

Class CUSIP Interest Prepayment Realized Loss/ Total Current Distribution Penalties Additional Trust Distribution Ending Balance Subordination Fund Expenses Level(1) A-1 61745MQL0 ~~478~~474,~~914~~579.7132 0.00 0.00 1,~~251~~256,~~647~~085.1672 ~~174~~173,~~975~~376,~~784~~042.7509 13.7073% A-2 61745MQM8 1,525,334.25 0.00 0.00 1,525,334.25 449,730,000.00 13.7073% B 61745MQN6 63,375.77 0.00 0.00 63,375.77 18,194,000.00 11.1921% C 61745MQP1 84,161.70 0.00 0.00 84,161.70 23,652,000.00 7.9294% D 61745MQQ9 16,452.22 0.00 0.00 16,452.22 4,549,000.00 7.2931% E 61745MPY3 28,566.15 0.00 0.00 28,566.15 7,278,000.00 6.2830% F 61745MPZ0 29,229.28 0.00 0.00 29,229.28 7,277,000.00 5.2829% G 61745MQA4 37,460.10 0.00 0.00 37,460.10 8,188,000.00 4.1516% H 61745MQB2 37,523.75 0.00 0.00 37,523.75 8,187,000.00 3.02% J 61745MQC0 16,678.75 0.00 0.00 16,678.75 3,639,000.00 2.5152% K 61745MQD8 8,337.08 0.00 0.00 8,337.08 1,819,000.00 2.2627% L 61745MQE6 25,020.42 0.00 0.00 25,020.42 5,459,000.00 1.51% M 61745MQF3 8,337.08 0.00 0.00 8,337.08 1,819,000.00 1.26% N 61745MQH9 8,337.08 0.00 0.00 8,337.08 1,819,000.00 1.01% O 61745MQJ5 33,360.29 0.00 0.00 33,360.29 7,278,609.00 0.00% R-1 N/A 0.00 0.00 0.00 0.00 0.00 0.00% R-2 N/A 0.00 0.00 0.00 0.00 0.00 0.00% R-3 N/A 0.00 0.00 0.00 0.00 0.00 0.00% EI N/A 0.00 0.00 0.00 0.00 0.00 0.00% Totals 2,~~401~~396,~~088~~753.6324 0.00 0.00 3,~~173~~178,~~821~~259.0864 ~~723~~722,~~864~~264,~~393~~651.7509

Original Beginning Pass-Through Notional Notional Class CUSIP Rate Amount Amount X-1 61745MPW7 0.~~207284~~201293% 727,767,609.00 ~~724~~723,~~637~~046,~~126~~157.2049 X-2 61745MPX5 2.~~162634~~161944% 667,249,000.00 667,249,000.00

Ending Interest Prepayment Total Notional Class CUSIP Distribution Penalties Distribution Amount X-1 61745MPW7 ~~125~~121,~~171~~286.6552 0.00 ~~125~~121,~~171~~286.6552 ~~723~~722,~~864~~264,~~393~~651.7509 X-2 61745MPX5 1,202,~~512~~129.8620 0.00 1,202,~~512~~129.8620 667,249,000.00 (1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).

Certificate Factor Detail Prepayment Realized Loss/ Ending Beginning Principal Interest Penalties Additional Trust Balance Class CUSIP Balance Distribution Distribution Fund Expenses A-1 61745MQL0 ~~982~~973.~~49943929~~60533372 4.~~31986119~~36891083 2.~~67731098~~65307454 0.00000000 0.00000000 ~~978~~969.~~17957809~~23642289 A-2 61745MQM8 1,000.00000000 0.00000000 3.39166667 0.00000000 0.00000000 1,000.00000000 B 61745MQN6 1,000.00000000 0.00000000 3.48333352 0.00000000 0.00000000 1,000.00000000 C 61745MQP1 1,000.00000000 0.00000000 3.55833333 0.00000000 0.00000000 1,000.00000000 D 61745MQQ9 1,000.00000000 0.00000000 3.61666740 0.00000000 0.00000000 1,000.00000000 E 61745MPY3 1,000.00000000 0.00000000 3.92500000 0.00000000 0.00000000 1,000.00000000 F 61745MPZ0 1,000.00000000 0.00000000 4.01666621 0.00000000 0.00000000 1,000.00000000 G 61745MQA4 1,000.00000000 0.00000000 4.57500000 0.00000000 0.00000000 1,000.00000000 H 61745MQB2 1,000.00000000 0.00000000 4.58333333 0.00000000 0.00000000 1,000.00000000 J 61745MQC0 1,000.00000000 0.00000000 4.58333333 0.00000000 0.00000000 1,000.00000000 K 61745MQD8 1,000.00000000 0.00000000 4.58333150 0.00000000 0.00000000 1,000.00000000 L 61745MQE6 1,000.00000000 0.00000000 4.58333394 0.00000000 0.00000000 1,000.00000000 M 61745MQF3 1,000.00000000 0.00000000 4.58333150 0.00000000 0.00000000 1,000.00000000 N 61745MQH9 1,000.00000000 0.00000000 4.58333150 0.00000000 0.00000000 1,000.00000000 O 61745MQJ5 1,000.00000000 0.00000000 4.58333316 0.00000000 0.00000000 1,000.00000000 R-1 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 EI N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000

Beginnning Ending Notional Interest Prepayment Notional Class CUSIP Amount Distribution Penalties Amount X-1 61745MPW7 ~~995~~993.~~69851315~~51241873 0.~~17199398~~16665556 0.00000000 ~~994~~992.~~63672854~~43857814 X-2 61745MPX5 1,000.00000000 1.~~80219507~~80162008 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding 0.00 Servicing Advances Outstanding 0.00 Reimbursement for Interest on Advances 0.00 paid from general collections Current Period Accrued Servicing Fees 48,~~809~~643.4427 Less Delinquent Servicing Fees 1012,~~282~~039.4245 Less Reductions to Servicing Fees 0.00 Plus Servicing Fees for Delinquent Payments Received 3234,~~113~~922.4653 Plus Adjustments for Prior Servicing Calculation 0.00 Total Servicing Fees Collected 7071,~~640~~526.4835

Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Additional Interest Remaining Unpaid Certificate Prepayment Certificate Certificate Interest Trust Fund Distribution Distributable Interest Interest Shortfall Interest Adjustment Expenses Certificate Interest A-1 ~~478~~474,~~914~~579.7132 0.00 ~~478~~474,~~914~~579.7132 0.00 0.00 ~~478~~474,~~914~~579.7132 0.00 A-2 1,525,334.25 0.00 1,525,334.25 0.00 0.00 1,525,334.25 0.00 B 63,375.77 0.00 63,375.77 0.00 0.00 63,375.77 0.00 C 84,161.70 0.00 84,161.70 0.00 0.00 84,161.70 0.00 D 16,452.22 0.00 16,452.22 0.00 0.00 16,452.22 0.00 E 28,566.15 0.00 28,566.15 0.00 0.00 28,566.15 0.00 F 29,229.28 0.00 29,229.28 0.00 0.00 29,229.28 0.00 G 37,460.10 0.00 37,460.10 0.00 0.00 37,460.10 0.00 H 37,523.75 0.00 37,523.75 0.00 0.00 37,523.75 0.00 J 16,678.75 0.00 16,678.75 0.00 0.00 16,678.75 0.00 K 8,337.08 0.00 8,337.08 0.00 0.00 8,337.08 0.00 L 25,020.42 0.00 25,020.42 0.00 0.00 25,020.42 0.00 M 8,337.08 0.00 8,337.08 0.00 0.00 8,337.08 0.00 N 8,337.08 0.00 8,337.08 0.00 0.00 8,337.08 0.00 O 33,360.29 0.00 33,360.29 0.00 0.00 33,360.29 0.00 X-1 ~~125~~121,~~171~~286.6552 0.00 ~~125~~121,~~171~~286.6552 0.00 0.00 ~~125~~121,~~171~~286.6552 0.00 X-2 1,202,~~512~~129.8620 0.00 1,202,~~512~~129.8620 0.00 0.00 1,202,~~512~~129.8620 0.00 Total 3,~~728~~720,~~773~~168.1496 0.00 3,~~728~~720,~~773~~168.1496 0.00 0.00 3,~~728~~720,~~773~~168.1496 0.00

Other Required Information Available Distribution Amount (1) 4,501,~~505~~675.5936 Aggregate Number of Outstanding Loans 119 Aggregate Unpaid Principal Balance of Loans ~~723~~722,~~981~~415,~~695~~557.8714 Aggregate Stated Principal Balance of Loans ~~723~~722,~~864~~264,~~394~~651.0135 Aggregate Amount of Servicing Fee 7071,~~640~~526.4835 Aggregate Amount of Special Servicing Fee 0.00 Aggregate Amount of Trustee Fee 1,~~723~~720.9923 Aggregate Trust Fund Expenses 0.00 Interest Reserve Deposit 0.00 Interest Reserve Withdrawal 0.00 Specially Serviced Loans not Delinquent Number of Outstanding Loans 0 Aggregate Unpaid Principal Balance 0.00 (1) The Available Distribution Amount includes any Prepayment Premiums.

Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 3,~~779~~770,~~306~~532.4550 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 3,~~779~~770,~~306~~532.4550 Principal: Scheduled Principal ~~772~~781,~~732~~506.4540 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected ~~772~~781,~~732~~506.4540 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 4,552,038.90 Total Funds Distributed Fees: Master Servicing Fee 48,~~809~~643.4427 Trustee Fee 1,~~723~~720.9923 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 50,~~533~~363.4350 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 0.00 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 0.00 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 3,~~728~~720,~~773~~168.1496 Principal Distribution ~~772~~781,~~732~~506.4540 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 4,501,~~505~~675.5936 Total Funds Distributed 4,552,~~039~~038.0286

NR - Designates that the class was not rated by the above agency at the time of original issuance. X - Designates that the above rating agency did not rate any classes in this transaction at the time of original issuance. N/A - Data not available this period. 1) For any class not rated at the time of original issuance by any particular rating agency, no request has been made subsequent to issuance to obtain rating information, if any, from such rating agency. The current ratings were obtained directly from the applicable rating agency within 30 days of the payment date listed above. The ratings may have changed since they were obtained. Because the ratings may have changed, you may want to obtain current ratings directly from the rating agencies. Fitch, Inc. One State Street Plaza New York, New York 10004 (212) 908-0500 Moody's Investors Service 99 Church Street New York, New York 10007 (212) 553-0300 Standard & Poor's Rating Services 55 Water Street New York, New York 10041 (212) 438-2430

Current Mortgage Loan and Property Stratification Tables Scheduled Balance % Of Scheduled # of Scheduled Agg. WAM Weighted Balance Loans Balance Bal. (2) WAC Avg DSCR(1) Below 2,500,000 54 78,~~774~~222,~~252~~049.9334 10.8883 ~~145~~143 6.~~5084~~5085 1.~~399112~~399476 2,500,001 to 5,000,000 36 123,~~753~~344,~~689~~066.2378 17.1008 ~~121~~119 6.~~5360~~5348 1.~~611052~~625376 5,000,001 to 7,500,000 6 38,~~595~~455,~~984~~506.2573 5.3332 ~~106~~104 6.~~2691~~2679 1.~~339769~~416080 7,500,001 to 10,000,000 7 58,~~317~~170,~~722~~505.3000 8.0605 ~~118~~116 6.~~4515~~4507 1.~~394492~~348717 10,000,001 to 12,500,000 7 77,~~992~~835,~~099~~138.1381 10.7778 ~~109~~107 6.~~2710~~2709 1.~~603236~~603773 12,500,001 to 15,000,000 1 13,~~710~~691,~~672~~111.1559 1.8990 ~~111~~109 7.3300 1.029800 15,000,001 to 17,500,000 1 16,~~361~~333,~~681~~036.4128 2.26 ~~110~~108 7.0200 1.~~315300~~214100 17,500,001 to 20,000,000 1 19,~~388~~350,~~950~~161.7147 2.68 ~~114~~112 5.7500 1.370000 20,000,001 to 30,000,000 2 45,~~969~~863,~~341~~075.9035 6.35 ~~109~~107 5.~~3566~~3567 1.~~688851~~688804 30,000,001 to 50,000,000 0 0.00 0.00 0 0.0000 0.000000 50,000,001 to 60,000,000 2 113,500,000.00 15.6871 ~~110~~108 5.9003 2.494053 60,000,001 and greater 2 137,500,000.00 19.0004 ~~113~~111 5.6276 2.134000 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

State(3) # of Scheduled % of Weighted State Props. Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Alabama 1 1,~~931~~916,~~099~~962.2666 0.27 ~~170~~168 6.0200 2.140000 Arizona 2 2,~~685~~673,~~697~~598.9061 0.37 ~~109~~107 6.3750 1.432364 Arkansas 1 4,~~076~~067,~~113~~781.0102 0.56 ~~114~~112 5.6500 1.400000 California 10 73,~~659~~490,~~235~~771.2275 10.18 ~~111~~109 6.~~5239~~5241 1.~~329555~~350195 Colorado 1 8,~~201~~182,~~393~~387.0362 1.13 8583 7.9500 1.310000 Connecticut 2 10,~~835~~814,~~423~~671.6487 1.50 ~~114~~112 5.9661 1.~~436740~~436736 Florida 12 136,~~423~~280,~~880~~694.84 18.8587 ~~116~~114 5.~~8371~~8367 1.~~788484~~773667 Georgia 5 15,~~693~~554,~~831~~380.0891 2.1715 ~~140~~138 7.~~4710~~4722 1.~~106223~~106479 Illinois 3 85,~~873~~794,~~143~~179.8777 11.8688 ~~108~~106 5.~~2037~~2034 2.~~793878~~794850 Indiana 2 2,~~550~~535,~~514~~915.3316 0.35 ~~145~~143 6.~~2691~~2702 1.~~608104~~607805 Kentucky 1 ~~881~~877,~~287~~747.8394 0.12 ~~169~~167 7.3800 1.480000 Maryland 3 6,~~402~~374,~~416~~639.7043 0.88 ~~133~~131 6.~~1786~~1776 1.~~329629~~329768 Michigan 4 13,~~179~~110,~~435~~440.4951 1.82 ~~184~~182 7.~~6662~~6654 1.~~242354~~242485 Minnesota 1 7,~~902~~887,~~681~~094.5248 1.09 ~~107~~105 6.4900 1.260000 Nebraska 2 7,~~240~~219,~~319~~807.1724 1.00 ~~109~~107 6.2000 1.366531 Nevada 2 4,~~815~~778,~~547~~649.5054 0.6766 4845 7.~~1027~~1035 1.~~354586~~355002 New Jersey 5 22,~~910~~805,~~179~~363.2050 3.16 9997 6.~~6534~~6513 1.~~490653~~520901 New Mexico 5 6,~~570~~480,~~127~~689.4379 0.9190 ~~113~~111 6.~~1192~~1188 1.~~364909~~364654 New York 5 14,~~822~~758,~~626~~335.8023 2.0504 ~~156~~154 6.7001 1.~~292356~~385813 North Carolina 1 10,~~500~~473,~~400~~531.9008 1.45 ~~110~~108 7.2500 1.160000 North Dakota 1 1,~~384~~374,~~850~~538.1766 0.19 ~~171~~169 6.0000 1.180000 Ohio 17 43,~~611~~551,~~589~~043.8825 6.0203 ~~121~~119 5.~~9315~~9308 2.~~507344~~509047 Oregon 1 3,~~036~~025,~~709~~456.0257 0.42 5351 7.0000 1.850000 Pennsylvania 3 34,~~367~~296,~~226~~862.9631 4.75 ~~113~~111 5.6682 1.~~449858~~371958 Puerto Rico 1 2,~~212~~203,~~063~~461.0588 0.31 ~~112~~110 7.0000 1.420000 South Carolina 1 ~~782~~776,~~695~~975.1656 0.11 ~~172~~170 6.1250 1.600000 Tennessee 3 5,~~683~~635,~~016~~780.2619 0.7978 ~~161~~159 6.~~9555~~9619 1.~~130268~~130279 Texas 9 81,~~644~~522,~~528~~398.3351 11.2829 ~~122~~120 6.~~5799~~5801 1.~~565819~~566230 Utah 3 5,~~465~~433,~~189~~815.6028 0.7675 ~~141~~139 7.~~0759~~0756 1.~~201103~~201353 Virginia 5 98,~~047~~998,~~371~~422.1474 1.25 ~~146~~144 6.~~8259~~8257 1.~~322036~~321479 Washington 3 19,~~147~~086,~~305~~259.4730 2.6564 ~~112~~110 5.~~8947~~8948 1.~~340094~~413532 Washington,DC 1 67,500,000.00 9.3235 ~~112~~110 5.7600 2.190000 Wisconsin 3 12,~~826~~781,~~494~~994.2515 1.77 9492 6.~~1673~~1664 1.~~292458~~292500 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

Debt Service Coverage Ratio(1) Debt Service # of Scheduled % of Weighted Coverage Ratio Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 1.15 or less 17 5756,~~173~~825,~~886~~954.4315 7.9087 ~~143~~141 7.~~2749~~2757 1.~~056760~~056710 1.16 to 1.25 2021 4465,~~367~~416,~~010~~373.5502 69.1306 ~~145~~132 6.~~7981~~7322 1.~~190359~~194138 1.26 to 1.35 1311 7451,~~925~~200,~~660~~707.3080 107.3509 ~~113~~112 6.~~5908~~5566 1.~~294934~~291943 1.36 to 1.50 3637 ~~179~~178,~~681~~706,~~816~~476.2953 24.8274 ~~111~~109 6.~~1222~~1036 1.~~416704~~418068 1.51 to 1.75 1514 ~~101~~100,~~611~~205,~~510~~173.7871 1413.0487 ~~118~~116 6.~~4221~~4516 1.~~643655~~643494 1.76 to 2.00 56 3539,~~284~~126,~~932~~102.2118 45.8742 9998 5.~~6321~~7686 1.~~863042~~863172 2.01 or greater 13 230,~~819~~783,~~577~~863.4596 31.8995 ~~112~~110 5.~~5572~~5569 2.~~540667~~542501 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

Property Type (3) Property # of Scheduled % of Weighted Type Props Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Industrial 27 7069,~~211~~777,~~754~~574.9652 9.7066 ~~120~~119 7.~~1226~~1221 1.~~280875~~312780 Lodging 1 3,~~947~~938,~~932~~169.0207 0.55 ~~109~~107 6.9900 1.~~515200~~864200 Mixed Use 7 34,~~903~~814,~~494~~312.8984 4.82 ~~117~~115 6.~~3520~~3516 1.~~401795~~401875 Multi-Family 19 92,~~317~~159,~~166~~928.8196 12.7576 ~~115~~113 6.~~3627~~3626 1.~~905455~~899188 Office 20 194,~~810~~581,~~281~~729.9465 26.9194 ~~109~~107 5.~~7943~~7935 2.~~210010~~211007 Retail 44 324,~~692~~018,~~041~~779.4894 44.86 ~~121~~119 6.~~0370~~0367 1.~~627922~~620123 Self Storage 1 2,~~981~~974,~~721~~156.9137 0.41 ~~115~~113 6.6000 1.390000 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

Note Rate Note # of Scheduled % of Weighted Rate Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 5.000% or less 1 1,~~922~~896,~~634~~323.6895 0.2726 ~~114~~112 4.9100 1.120000 5.001% to 5.500% 5 165,~~343~~263,~~929~~346.7802 22.8488 ~~111~~109 5.~~3149~~3150 2.~~466019~~466329 5.501% to 6.000% 30 ~~240~~239,~~110~~709,~~844~~503.5540 33.1719 ~~112~~110 5.7711 1.~~804345~~796279 6.001% to 6.500% 35 9190,~~302~~935,~~823~~232.8205 12.6159 ~~138~~136 6.~~2280~~2279 1.~~359024~~366680 6.501% to 7.000% 27 116,~~280~~000,~~749~~041.3936 16.06 ~~115~~113 6.~~7776~~7773 1.~~537108~~562630 7.001% to 7.500% 13 7776,~~138~~863,~~578~~284.8428 10.6664 ~~119~~117 7.~~1989~~1987 1.~~240611~~224607 7.501% to 8.000% 4 16,~~205~~124,~~923~~220.9024 2.2423 6866 7.~~8776~~8780 1.~~549826~~549101 8.001% to 8.500% 2 1211,~~053~~986,~~871~~298.3010 1.6766 ~~181~~179 8.2857 1.~~106482~~106480 8.501% to 9.000% 1 2,~~787~~773,~~804~~915.7716 0.3938 ~~190~~188 8.6124 1.120000 9.001% to 10.500% 0 0.00 0.00 0 0.0000 0.000000 10.501% or greater 1 ~~717~~712,~~232~~486.9879 0.10 ~~146~~144 10.9700 1.070000 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

Seasoning # of Scheduled % of Weighted Seasoning Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 0 months 0 0.00 0.00 0 0.0000 0.000000 1 to 12 months 9467 ~~621~~522,~~718~~063,~~234~~533.5754 8572.8928 ~~117~~115 5.~~9374~~9183 1.~~854001~~916275 13 to 24 months 734 39137,~~489~~933,~~647~~231.2324 519.4610 ~~113~~115 76.~~0235~~3182 1.~~226106~~441552 25 to 36 months 32 168,~~574~~326,~~989~~134.3248 21.2915 ~~132~~177 8.~~2054~~4553 1.~~188753~~070000 37 to 48 months 12 412,~~397~~555,~~507~~038.9903 01.6174 ~~179~~116 8.~~4000~~1067 1.~~170000~~261241 49 to 60 months 87 2522,~~302~~240,~~592~~949.8523 3.5008 9395 7.~~1141~~1433 1.~~377612~~407383 61 to 72 months 4 1110,~~039~~588,~~944~~657.5487 1.5347 ~~125~~92 7.~~4829~~3707 1.~~353206~~433439 73 to 84 months 12 36,~~459~~690,~~442~~699.0624 0.4893 45103 7.~~9000~~6192 1.~~770000~~416547 85 months or greater 1 1,~~882~~866,~~035~~407.4572 0.26 ~~149~~147 7.3100 1.140000 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090

Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of Weighted Remaining Term(2) Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 60 months or less 57 1420,~~721~~227,~~907~~711.0568 2.0380 4548 7.~~4994~~3452 1.~~715390~~584180 61 to 120 months 6462 ~~612~~606,~~665~~261,~~795~~043.8882 8483.6494 ~~110~~108 5.~~9879~~9788 1.~~853382~~859375 121 to 180 months 34 58,~~588~~784,~~120~~171.6849 01.7722 ~~168~~171 7.~~0464~~1394 1.~~857894~~598207 181 months and greater 10 ~~3,233,098~~0.3100 0.4500 ~~181~~0 70.~~3000~~0000 10.~~020000~~000000 Totals 73 ~~636~~635,~~208~~272,~~921~~926.9299 87.8996 ~~109~~107 6.~~0389~~0384 1.~~845993~~847002

Remaining Stated Term (Fully Amortizing Loans) Remaining # of Scheduled % of Weighted Stated Term Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) 60 months or less 0 0.00 0.00 0 0.0000 0.000000 61 to 120 months 6 8 13,~~938~~069,~~100~~109.2892 1.2381 ~~108~~111 56.~~9695~~3049 1.~~353804~~241726 121 to 180 months 2928 4851,~~158~~128,~~414~~864.2111 67.6508 ~~158~~163 67.~~9428~~1285 1.~~220379~~215622 181 to 240 months 1110 3022,~~558~~793,~~957~~750.6033 43.2216 ~~210~~217 76.~~0586~~6701 1.~~266056~~331621 241 months or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 46 8786,~~655~~991,~~472~~724.0936 12.1104 ~~171~~169 6.~~8839~~8847 1.~~249908~~249938

Remaining Amortization Term (ARD and Balloon Loans) Remaining # of Scheduled % of Weighted Amortization Term Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Interest Only 7 28,760,000.00 3.9798 ~~110~~108 5.7289 3.115591 120 months or less 0 0.00 0.00 0 0.0000 0.000000 121 to 180 months 3 6,~~070~~000,~~360~~544.6771 0.8483 6866 7.~~2325~~2318 1.~~710723~~710574 181 to 240 months 17 34,~~719~~556,~~234~~917.4642 4.8078 ~~110~~108 6.~~8531~~8529 1.~~354036~~374419 241 to 300 months 17 ~~200~~199,~~076~~830,~~406~~356.5800 27.6467 ~~106~~104 6.~~1597~~1593 2.~~009515~~024770 301 to 360 months 29 366,~~582~~125,~~920~~108.2186 50.6469 ~~111~~109 5.~~9004~~9003 1.~~705973~~697166 361 months or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 73 ~~636~~635,~~208~~272,~~921~~926.9299 87.8996 ~~109~~107 6.~~0389~~0384 1.~~845993~~847002

Age of Most Recent NOI Age of Most # of Scheduled % of Weighted Recent NOI Loans Balance Agg. WAM WAC Avg DSCR(1) Bal. (2) Underwriter's Information ~~107~~104 ~~629~~604,~~035~~908,~~435~~746.8925 8683.9075 ~~117~~116 6.~~1017~~1032 1.~~835682~~853678 1 year or less 1215 94117,~~828~~355,~~958~~905.1210 1316.1025 ~~113~~110 6.~~4037~~3317 1.~~363399~~370007 1 to 2 years 0 0.00 0.00 0 0.0000 0.000000 2 years and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 119 ~~723~~722,~~864~~264,~~394~~651.0135 100.00 ~~117~~115 6.~~1412~~1403 1.~~773811~~775090 (1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrower on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is used. The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation. (2)Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity date. (3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date balance of each property as disclosed in the offering document. Note: (i) An ARD Loan constitutes a "Hyper-Amortization Loan" as defined in the offering document.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type(1) City State Payment Payment Coupon 991087710 1 RT Orlando FL 331,527.78 0.00 5.500% 991087691 2 OF Washington DC 324,000.00 0.00 5.760% 991087690 3 OF Chicago IL 259,683.13 0.00 5.155% 991087711 4 RT Katy TX 316,987.92 0.00 6.693% 991087692 5 RT Oak Brook IL ~~105~~104,~~258~~994.0678 3031,~~786~~050.7806 5.120% 991087663 6 RT Tredyffrin PA 103,~~508~~295.8815 20,~~325~~538.1386 5.630% 991087664 7 RT Encino CA 9695,~~089~~898.9179 17,~~706~~897.8092 5.750% 991087734 8 MF Gainesville FL 95,~~798~~632.8929 14,~~197~~364.7434 7.020% 991087665 9 MF Rocklin CA 86,~~593~~470.3768 8,~~296~~419.9362 7.330% 991087714 10 RT Sunset Valley TX 61,~~531~~345.8478 17,~~560~~746.3238 5.810% 991087666 11 IN Dayton NJ 2322,~~020~~931.6180 67,~~975~~064.2809 7.000% 991087666 12 IN Cleveland OH 13,~~801~~748.8560 4,~~181~~235.9722 7.000% 991087666 13 IN Cidra PR 13,~~358~~306.2269 4,~~047~~099.5609 7.000% 991087666 14 IN Bryan TX 8,~~904~~870.5722 2,~~698~~732.0944 7.000% 991087666 15 IN Valparaiso IN 7,~~124~~096.3990 2,~~158~~186.6918 7.000% 991087666 16 IN Toccoa GA 6,~~679~~653.1134 2,~~023~~049.7855 7.000% 991087672 17 OF Boca Raton FL 62,~~796~~679.8766 10,~~173~~290.3859 6.070% 991087712 18 MU Cranford NJ 59,~~914~~803.6637 9,~~348~~459.2453 6.250% 991087715 19 MF Cincinnati OH 52,832.42 0.00 5.686% 991087735 20 RT Fontana CA 61,~~773~~660.9277 9,~~629~~742.1631 7.030% 991087736 21 OF Charlotte NC 63,~~520~~359.3600 13,~~314~~475.0137 7.250% 991087716 22 RT Bellevue WA 53,~~259~~106.1369 14,~~007~~160.9337 5.940% 991087673 23 RT Apopka FL 45,~~877~~788.4113 8,~~102~~191.1947 5.850% 991087674 24 RT Naples FL 4140,~~051~~965.8606 8,~~582~~669.8060 5.440% 991087693 25 IN Saline MI 52,~~590~~300.9029 21,~~140~~430.1071 8.220% 991087694 26 IN Saline MI 6,~~578~~535.1011 2,~~340~~383.9089 10.970% 991087675 27 RT Philadelphia PA 40,~~199~~116.2980 7,~~917~~999.4695 5.580% 991087676 28 RT Santa Ana CA 42,~~507~~425.2608 7,~~369~~452.9715 5.910% 991087695 29 RT Littleton CO 56,~~203~~074.5836 8,~~503~~632.4264 7.950% 991087737 30 MU Minneapolis MN 42,~~782~~698.1530 7,~~730~~814.6954 6.490% 991087717 31 OF Wauwatosa WI 38,~~130~~017.7148 10,~~465~~578.2144 5.920% 991087738 32 MF Seattle WA 35,~~313~~237.8146 7,~~798~~874.4984 5.860% 991087739 33 IN El Cajon CA 40,~~344~~231.1768 10,~~000~~112.2271 6.730% 991087696 34 IN Marietta GA 35,~~535~~167.2886 30,~~484~~852.7214 7.210% 991087677 35 OF Meriden CT 29,~~759~~704.3441 4,~~745~~800.5548 6.090% 991087718 36 MU Milford CT 25,~~955~~904.2014 4,~~655~~706.3743 5.830% 991087719 37 RT Smyrna TN 2019,~~057~~958.2729 6,~~870~~969.6664 8.612% 991087720 38 RT Gallatin TN 8,~~183~~072.7295 1213,~~941~~052.5128 4.910% 991087678 39 OF Philadelphia PA 24,~~194~~148.0574 34,~~984~~030.8213 6.000% 991087679 40 MF Tallahassee FL 22,~~130~~085.4794 4,~~130~~174.3184 5.750% 991087697 41 IN Acworth GA 30,~~868~~695.6586 12,~~299~~472.3514 8.400% 991087680 42 MF Tampa FL 21,~~355~~302.0236 5,~~104~~157.4006 5.600% 991087698 43 IN Duluth GA 14,~~318~~157.2897 13,~~701~~862.6900 7.000% 991087698 44 IN Duluth GA 10,~~943~~821.6612 10,~~472~~594.3791 7.000% 991087681 45 IN Baltimore MD 21,~~187~~125.0972 5,~~755~~817.7815 5.830% 991087682 46 MF Searcy AR 19,~~849~~809.9965 3,~~816~~857.6802 5.650% 991087713 47 LO Syosset NY 23,~~790~~731.0867 4,~~455~~513.5899 6.990% 991087721 48 OF Beverly Hills CA 19,~~886~~829.3306 5,~~217~~274.5986 5.990% 991087740 49 IN Gahanna OH 10,~~834~~756.7959 7,~~198~~276.4868 6.500% 991087740 50 IN Reynoldsburg OH 1,~~820~~806.0793 1,~~209~~222.2337 6.500% 991087740 51 IN Gahanna OH 1,~~476~~465.4276 ~~980~~991.9157 6.500% 991087743 52 OF Grove City OH 3,~~691~~664.0744 2,~~452~~478.3093 6.500% 991087743 53 OF Reynoldsburg OH 2,~~458~~440.6590 1,~~633~~651.4924 6.500% 991087700 54 IN Las Vegas NV 22,~~303~~171.1716 1011,~~892~~024.8384 7.250% 991087722 55 OF Omaha NE 19,~~748~~692.0952 4,~~873~~929.7431 6.200% 991087723 56 OF Omaha NE 18,~~958~~904.1781 4,~~678~~732.7915 6.200% 991087683 57 MU Alexandria VA 20,~~350~~317.1945 2,~~480~~513.4620 6.750% 991087684 58 RT Madison WI 18,~~209~~175.3222 2,~~955~~989.3040 6.080% 991087685 59 OF Cincinnati OH 17,~~965~~931.3772 2,~~958~~992.9459 6.000% 991087701 60 MF Los Angeles CA 22,~~801~~747.5956 4,~~090~~144.2124 7.900% 991087686 61 IN Clifton NJ 18,~~200~~123.8708 7,~~033~~110.0180 6.150% 991087724 62 MF Cincinnati OH 15,366.88 0.00 5.345% 991087745 63 RT Plainview NY 17,~~157~~079.1113 7,~~650~~728.8785 6.100% 991087725 64 MF Cincinnati OH 18,253.17 0.00 6.519% 991087702 65 RT Huntington Station NY 19,~~963~~829.9310 11,~~018~~153.4124 7.320% 991087703 66 RT Rowlett TX 19,~~727~~608.5511 9,~~787~~906.2468 7.300% 991087704 67 IN Clifton NJ 20,~~616~~372.2739 1819,~~869~~113.7361 7.730% 991087746 68 RT Brighton MI 16,~~893~~817.3082 7,~~227~~302.3381 6.250% 991087705 69 OF Portland OR 17,~~746~~681.6741 5,~~577~~642.3359 7.000% 991087726 70 MF Cincinnati OH 14,591.71 0.00 5.741% 991087747 71 MU St. George UT 18,~~266~~140.2886 10,~~207~~332.5092 7.350% 991087687 72 SS Hastings on Hudson NY 16,~~965~~923.8913 3,~~478~~520.1894 6.600% 991087706 73 IN Anaheim CA 16,~~659~~595.0705 5,~~558~~622.9395 6.890% 991087748 74 MF Yuba City CA 14,~~692~~625.3785 6,~~420~~486.1264 6.200% 991087727 75 MF Cincinnati OH 13,112.38 0.00 5.521% 991087728 76 MF Cincinnati OH 13,582.63 0.00 5.719% 991087729 77 MU Naples FL 1413,~~011~~984.6606 2,~~506~~534.6929 5.850% 991087688 78 MF Orlando FL 17,~~586~~553.1401 2,~~315~~348.1225 7.380% 991087707 79 OF Buffalo Grove IL 15,~~997~~899.9034 8,~~424~~522.1066 7.000% 991087749 80 RT Boynton Beach FL 12,~~438~~382.4912 5,~~508~~564.3067 6.125% 991087730 81 RT Lakeland FL 12,~~674~~639.1415 3,~~069~~104.0302 6.190% 991087689 82 RT Lorain OH 11,~~592~~568.3860 2,~~247~~271.5634 5.660% 991087750 83 RT Houston TX 12,~~669~~600.3457 56,~~984~~053.7552 6.875% 991087751 84 RT Pearland TX 11,~~465~~415.2807 4,~~534~~585.9213 6.625% 991087752 85 RT Alexandria VA 11,~~759~~677.9847 7,~~206~~289.8839 6.850% 991087753 86 IN Katy TX 10,~~690~~603.4736 8,~~209~~296.3445 6.350% 991087731 87 MF Cincinnati OH 9,563.25 0.00 5.598% 991087754 88 MF Albuquerque NM 9,~~490~~372.6697 12,~~250~~368.8857 5.750% 991087755 89 OF Albuquerque NM 10,~~256~~078.8959 16,~~542~~720.1545 6.450% 991087732 90 RT Birmingham AL 109,~~046~~973.1322 6,~~852~~925.6253 6.020% 991087756 91 RT Fairfield Township OH 10,~~411~~366.5123 4,~~220~~265.6997 6.420% 991087757 92 RT Houston TX 10,~~935~~874.1224 5,~~298~~358.0997 6.875% 991087708 93 RT Kenosha WI 11,~~511~~417.9028 7,~~742~~837.9759 7.310% 991087758 94 IN Albuquerque NM 6,~~824~~752.4889 6,~~855~~926.1170 6.250% 991087758 95 IN Albuquerque NM 2,~~055~~033.1256 2,~~064~~085.3591 6.250% 991087760 96 OF Phoenix AZ 8,~~839~~800.7926 3,~~710~~749.1669 6.375% 991087761 97 IN Salt Lake City UT 9,~~701~~660.0534 3,~~479~~519.0374 7.000% 991087762 98 RT Plymouth MI 8,~~356~~319.6180 3,~~455~~491.1192 6.375% 991087763 99 RT Bremerton WA 7,~~345~~271.1884 7,~~634~~707.5892 5.750% 991087764 100 RT Waldorf MD 8,~~668~~607.1634 5,~~312~~372.1193 6.850% 991087765 101 OF Annandale VA 8,~~918~~857.7703 5,~~093~~155.6842 7.250% 991087766 102 MU Dallas TX 7,~~584~~528.3881 5,~~364~~419.3390 6.200% 991087767 103 RT Los Angeles CA 7,~~444~~389.1171 5,~~315~~369.2666 6.125% 991087768 104 MF Grand Forks ND 6,~~949~~898.8454 5,~~117~~168.3161 6.000% 991087709 105 IN Clifton NJ 8,~~835~~730.3279 8,~~087~~192.6821 7.730% 991087733 106 RT Ft. Wayne IN 6,~~680~~632.8849 4,~~862~~910.5695 5.640% 991087769 107 IN Westbury NY 6,~~373~~326.2875 4,~~617~~664.9447 6.030% 991087770 108 RT Elko NV 6,~~306~~224.3243 7,~~395~~477.8877 6.625% 991087771 109 RT Cleves OH 5,~~771~~746.0213 2,~~247~~272.9079 6.625% 991087772 110 RT Rio Rancho NM 5,~~103~~036.5170 6,~~664~~731.6647 6.000% 991087773 111 RT Woodbridge VA 5,~~700~~621.1192 67,~~930~~008.5473 6.750% 991087774 112 OF Phoenix AZ 5,~~459~~435.8746 2,~~291~~315.5798 6.375% 991087775 113 RT Chester VA 5,~~527~~503.6850 2,~~226~~250.2846 6.500% 991087776 114 OF Bartlett TN 5,~~083~~047.6823 3,~~490~~527.5500 6.250% 991087777 115 RT Oakland Park FL 5,~~047~~010.2339 3,~~527~~563.0084 6.250% 991087778 116 MF Cold Spring KY 5,~~430~~409.7107 1,~~753~~775.7337 7.380% 991087779 117 RT Salt Lake City UT 4,~~351~~331.3086 1,~~861~~881.5903 6.250% 991087780 118 RT Mount Pleasant SC 43,~~009~~980.4945 2,~~838~~867.0408 6.125% 991087781 119 RT Annapolis MD 3,~~864~~837.7867 2,~~368~~395.4657 6.850% Totals 3,~~779~~770,~~306~~532.4550 ~~772~~781,~~732~~506.4540

Loan Anticipated Neg Beginning Ending Paid Number Repayment Maturity Amort Scheduled Scheduled Thru Date Date (Y/N) Balance Balance Date 991087710 N/A 04/09/2013 N 70,000,000.00 70,000,000.00 1101/09/~~2003~~2004 991087691 N/A 03/01/2013 N 67,500,000.00 67,500,000.00 1012/01/2003 991087690 N/A 01/01/2013 N 58,500,000.00 58,500,000.00 1101/01/~~2003~~2004 991087711 N/A 01/09/2013 N 55,000,000.00 55,000,000.00 1012/09/2003 991087692 N/A 10/01/2012 N 24,~~669~~608,~~857~~152.0210 24,~~639~~577,~~070~~102.2404 1012/01/2003 991087663 03/01/2013 04/01/2033 N 21,~~350~~306,~~596~~512.7917 21,~~330~~285,~~271~~973.6631 1101/01/~~2003~~2004 991087664 05/01/2013 06/01/2033 N 19,~~406~~368,~~657~~059.5139 19,~~388~~350,~~950~~161.7147 1101/01/~~2003~~2004 991087734 N/A 01/10/2013 N 16,~~375~~347,~~879~~400.1562 16,~~361~~333,~~681~~036.4128 1012/10/2003 991087665 02/01/2013 03/01/2033 N 13,~~718~~699,~~969~~531.0821 13,~~710~~691,~~672~~111.1559 1101/01/~~2003~~2004 991087714 N/A 11/05/2012 N 12,~~298~~261,~~852~~661.3882 12,~~281~~243,~~292~~915.0644 1112/05/2003 991087666 03/01/2013 04/01/2023 N 3,~~819~~804,~~087~~354.9712 3,~~812~~797,~~112~~290.6903 1101/01/~~2003~~2004 991087666 03/01/2013 04/01/2023 N 2,~~289~~280,~~707~~874.6307 2,~~285~~276,~~525~~638.6685 1101/01/~~2003~~2004 991087666 03/01/2013 04/01/2023 N 2,~~216~~207,~~110~~560.6197 2,~~212~~203,~~063~~461.0588 1101/01/~~2003~~2004 991087666 03/01/2013 04/01/2023 N 1,~~477~~471,~~255~~556.5741 1,~~474~~468,~~557~~823.4897 1101/01/~~2003~~2004 991087666 03/01/2013 04/01/2023 N 1,~~181~~177,~~925~~365.7494 1,~~179~~175,~~767~~179.0576 1101/01/~~2003~~2004 991087666 03/01/2013 04/01/2023 N 1,~~108~~103,~~054~~779.8098 1,~~106~~101,~~031~~730.0243 1101/01/~~2003~~2004 991087672 04/01/2013 05/01/2033 N 1211,~~014~~991,~~067~~643.8794 1211,~~003~~981,~~894~~353.4935 1101/01/~~2003~~2004 991087712 N/A 11/01/2012 N 11,~~132~~111,~~529~~852.9404 11,~~123~~102,~~181~~392.7051 1101/01/~~2003~~2004 991087715 N/A 01/05/2013 N 11,150,000.00 11,150,000.00 1101/05/~~2003~~2004 991087735 N/A 05/10/2012 N 10,~~544~~525,~~624~~309.1138 10,~~534~~515,~~994~~567.9507 1101/10/~~2003~~2004 991087736 N/A 01/10/2013 N 10,~~513~~487,~~714~~006.9145 10,~~500~~473,~~400~~531.9008 1101/10/~~2003~~2004 991087716 N/A 04/01/2013 N 10,~~412~~382,~~342~~539.9673 10,~~398~~368,~~335~~379.0336 1101/01/~~2003~~2004 991087673 N/A 05/01/2013 N 9,~~107~~089,~~178~~454.7091 9,~~099~~081,~~076~~263.5144 1101/01/~~2003~~2004 991087674 06/01/2013 07/01/2033 N 8,~~763~~744,~~442~~913.3458 8,~~754~~736,~~859~~243.5498 1101/01/~~2003~~2004 991087693 N/A 01/01/2019 N 7,~~677~~635,~~503~~078.4140 7,~~656~~613,~~363~~647.3169 1112/01/2003 991087694 N/A 01/01/2016 N ~~719~~714,~~573~~870.8868 ~~717~~712,~~232~~486.9879 1112/01/2003 991087675 06/01/2013 07/01/2033 N 8,~~366~~348,~~137~~969.6819 8,~~358~~340,~~220~~969.2224 1101/01/~~2003~~2004 991087676 04/01/2013 05/01/2033 N 8,~~352~~336,~~498~~350.1470 8,~~345~~328,~~128~~898.1755 1101/01/~~2003~~2004 991087695 N/A 12/01/2010 N 8,~~209~~191,~~896~~020.4526 8,~~201~~182,~~393~~387.0362 1101/01/~~2003~~2004 991087737 N/A 10/10/2012 N 7,~~910~~894,~~412~~909.2102 7,~~902~~887,~~681~~094.5248 1101/10/~~2003~~2004 991087717 N/A 11/05/2009 N 7,~~479~~457,~~868~~656.6760 7,~~469~~447,~~403~~078.4616 1101/05/~~2003~~2004 991087738 N/A 01/10/2013 N 7,~~231~~215,~~497~~862.0701 7,~~223~~207,~~698~~987.5817 1012/10/2003 991087739 N/A 11/10/2012 N 7,~~193~~173,~~610~~554.9239 7,~~183~~163,~~610~~441.7068 1101/10/~~2003~~2004 991087696 N/A 07/01/2014 N 5,~~914~~853,~~332~~179.5999 5,~~883~~822,~~847~~327.8785 1101/01/~~2003~~2004 991087677 05/01/2013 06/01/2033 N 5,~~674~~664,~~751~~276.4630 5,~~670~~659,~~005~~475.9182 1101/01/~~2003~~2004 991087718 N/A 04/01/2013 N 5,~~170~~159,~~073~~902.1048 5,~~165~~155,~~417~~196.7305 1101/01/~~2003~~2004 991087719 N/A 09/15/2019 N 2,~~794~~780,~~675~~884.4380 2,~~787~~773,~~804~~915.7716 1012/15/2003 991087720 N/A 05/15/2013 N 1,~~935~~909,~~576~~376.1923 1,~~922~~896,~~634~~323.6895 1012/15/2003 991087678 N/A 06/01/2013 N 4,~~682~~673,~~719~~949.9089 4,~~678~~669,~~735~~919.0876 1001/01/~~2003~~2004 991087679 N/A 03/01/2013 N 4,~~469~~460,~~547~~553.9464 4,~~465~~456,~~417~~378.6380 1101/01/~~2003~~2004 991087697 N/A 10/01/2018 N 4,~~409~~385,~~807~~122.3455 4,~~397~~372,~~507~~650.9941 1101/01/~~2003~~2004 991087680 N/A 06/01/2013 N 4,~~428~~417,~~460~~539.6819 4,~~423~~412,~~356~~382.2813 1101/01/~~2003~~2004 991087698 N/A 01/01/2014 N 2,~~454~~427,~~563~~079.0979 2,~~440~~413,~~861~~217.4079 1101/01/~~2003~~2004 991087698 N/A 01/01/2014 N 1,~~876~~855,~~055~~049.1734 1,~~865~~844,~~582~~454.8043 1101/01/~~2003~~2004 991087681 N/A 05/01/2013 N 4,~~220~~208,~~301~~078.4143 4,~~214~~202,~~545~~261.6328 1101/01/~~2003~~2004 991087682 N/A 05/01/2013 N 4,~~079~~071,~~929~~638.6904 4,~~076~~067,~~113~~781.0102 1001/01/~~2003~~2004 991087713 N/A 12/01/2012 N 3,~~952~~942,~~387~~683.6006 3,~~947~~938,~~932~~169.0207 1101/01/~~2003~~2004 991087721 N/A 02/05/2013 N 3,~~855~~844,~~392~~289.6290 3,~~850~~839,~~175~~015.0304 1101/05/~~2003~~2004 991087740 N/A 12/01/2017 N 21,~~000~~985,~~268~~832.5459 1,~~993~~978,~~070~~555.0691 1101/01/~~2003~~2004 991087740 N/A 12/01/2017 N ~~336~~333,~~012~~587.8281 ~~334~~332,~~803~~365.5944 1101/01/~~2003~~2004 991087740 N/A 12/01/2017 N ~~272~~270,~~569~~602.8774 ~~271~~269,~~588~~611.9617 1101/01/~~2003~~2004 991087743 N/A 12/01/2017 N ~~681~~676,~~429~~511.0113 ~~678~~674,~~976~~032.7120 1101/01/~~2003~~2004 991087743 N/A 12/01/2017 N ~~453~~450,~~904~~628.4360 ~~452~~448,~~270~~977.9436 1101/01/~~2003~~2004 991087700 N/A 03/01/2006 N 3,~~691~~669,~~559~~708.9952 3,~~680~~658,~~667~~683.1668 1101/01/~~2003~~2004 991087722 N/A 12/01/2012 N 3,~~698~~688,~~914~~504.1546 3,~~694~~683,~~040~~575.4115 1001/01/~~2003~~2004 991087723 N/A 12/01/2012 N 3,~~550~~540,~~957~~964.5524 3,~~546~~536,~~278~~232.7609 1001/01/~~2003~~2004 991087683 N/A 03/01/2013 N 3,~~501~~495,~~107~~475.1986 3,~~498~~492,~~626~~962.7366 1101/01/~~2003~~2004 991087684 03/01/2013 04/01/2033 N 3,~~478~~471,~~010~~497.6467 3,~~475~~468,~~055~~508.3427 1101/01/~~2003~~2004 991087685 N/A 06/01/2013 N 3,~~477~~470,~~168~~656.6141 3,~~474~~467,~~209~~663.6782 1101/01/~~2003~~2004 991087701 N/A 08/01/2007 N 3,~~463~~455,~~532~~324.2792 3,~~459~~451,~~442~~180.0668 1101/01/~~2003~~2004 991087686 N/A 04/01/2013 N 3,~~436~~422,~~829~~139.0182 3,~~429~~415,~~796~~029.0002 1101/01/~~2003~~2004 991087724 N/A 01/05/2013 N 3,450,000.00 3,450,000.00 1101/05/~~2003~~2004 991087745 N/A 02/01/2023 N 3,~~375~~359,~~169~~829.7714 3,~~367~~352,~~518~~100.9029 1001/01/~~2003~~2004 991087725 N/A 01/05/2013 N 3,360,000.00 3,360,000.00 1101/05/~~2003~~2004 991087702 N/A 12/01/2017 N 3,~~272~~250,~~775~~671.8380 3,~~261~~239,~~757~~518.4256 1101/01/~~2003~~2004 991087703 N/A 12/01/2018 N 3,~~242~~223,~~885~~251.5553 3,~~233~~213,~~098~~344.3185 1101/01/~~2003~~2004 991087704 N/A 05/01/2008 N 3,~~200~~162,~~456~~595.4443 3,~~181~~143,~~586~~481.7182 1101/01/~~2003~~2004 991087746 N/A 02/01/2023 N 3,~~243~~229,~~513~~020.2898 3,~~236~~221,~~285~~718.9517 1112/01/2003 991087705 N/A 04/01/2008 N 3,~~042~~031,~~286~~099.3516 3,~~036~~025,~~709~~456.0257 1101/01/~~2003~~2004 991087726 N/A 01/05/2013 N 3,050,000.00 3,050,000.00 1101/05/~~2003~~2004 991087747 N/A 10/01/2017 N 2,~~982~~961,~~250~~772.4391 2,~~972~~951,~~042~~439.9399 1101/01/~~2003~~2004 991087687 N/A 06/01/2013 N 2,~~985~~977,~~200~~677.0931 2,~~981~~974,~~721~~156.9137 1101/01/~~2003~~2004 991087706 N/A 12/01/2008 N 2,~~901~~890,~~433~~284.8103 2,~~895~~884,~~874~~661.8808 1101/01/~~2003~~2004 991087748 N/A 01/01/2023 N 2,~~843~~830,~~683~~810.7332 2,~~837~~824,~~263~~323.6168 1101/01/~~2003~~2004 991087727 N/A 01/05/2013 N 2,850,000.00 2,850,000.00 1101/05/~~2003~~2004 991087728 N/A 01/05/2013 N 2,850,000.00 2,850,000.00 1101/05/~~2003~~2004 991087729 N/A 03/01/2013 N 2,~~781~~775,~~470~~992.3071 2,~~778~~773,~~963~~458.6142 1101/01/~~2003~~2004 991087688 N/A 08/01/2017 N 2,~~767~~762,~~291~~079.2143 2,~~764~~759,~~976~~731.0918 1101/01/~~2003~~2004 991087707 N/A 01/01/2009 N 2,~~742~~725,~~497~~600.7339 2,~~734~~717,~~073~~077.6373 1101/01/~~2003~~2004 991087749 N/A 02/01/2023 N 2,~~436~~425,~~928~~884.7605 2,~~431,~~420,319.4638 1101/01/~~2003~~2004 991087730 N/A 03/01/2013 N 2,~~377~~371,~~762~~200.7703 2,~~374~~368,~~693~~096.7401 1101/01/~~2003~~2004 991087689 03/01/2013 04/01/2033 N 2,~~378~~373,~~466~~587.7811 2,~~376~~371,~~219~~315.2277 1101/01/~~2003~~2004 991087750 N/A 05/01/2020 N 2,~~211~~199,~~375~~371.6586 2,~~205~~193,~~390~~318.9034 1101/01/~~2003~~2004 991087751 N/A 11/01/2022 N 2,~~076~~067,~~729~~634.5062 2,~~072~~063,~~194~~049.5849 1101/01/~~2003~~2004 991087752 N/A 12/01/2017 N 2,~~060~~045,~~143~~688.1727 2,~~052~~038,~~936~~398.2988 1101/01/~~2003~~2004 991087753 N/A 12/01/2016 N 2,~~020~~003,~~246~~784.1503 21,~~012~~995,~~036~~487.8158 1101/01/~~2003~~2004 991087731 N/A 01/05/2013 N 2,050,000.00 2,050,000.00 1101/05/~~2003~~2004 991087754 N/A 10/01/2013 N 1,~~980~~956,~~658~~098.8740 1,~~968~~943,~~407~~729.9983 1101/01/~~2003~~2004 991087755 N/A 04/01/2011 N 1,~~908~~875,~~259~~085.0079 1,~~891~~858,~~716~~365.8534 1101/01/~~2003~~2004 991087732 N/A 01/01/2018 N 1,~~937~~923,~~951~~888.8819 1,~~931~~916,~~099~~962.2666 1101/01/~~2003~~2004 991087756 N/A 03/01/2018 N 1,~~946~~937,~~077~~613.4549 1,~~941~~933,~~856~~347.7652 1101/01/~~2003~~2004 991087757 N/A 02/01/2020 N 1,~~908~~898,~~675~~049.6108 1,~~903~~892,~~377~~690.52 11 01/01/~~2003~~2004 991087708 N/A 04/01/2016 N 1,~~889~~874,~~778~~245.4231 1,~~882~~866,~~035~~407.4572 1101/01/~~2003~~2004 991087758 N/A 11/01/2014 N 1,~~310~~296,~~300~~554.2634 1,~~303~~289,~~445~~627.1564 1101/01/~~2003~~2004 991087758 N/A 11/01/2014 N ~~394~~390,~~583~~444.8338 ~~392~~388,~~519~~358.4847 1101/01/~~2003~~2004 991087760 N/A 12/01/2012 N 1,~~663~~656,~~959~~519.7774 1,~~660~~652,~~249~~770.6105 1101/01/~~2003~~2004 991087761 N/A 11/01/2012 N 1,~~663~~656,~~036~~058.9155 1,~~659~~652,~~557~~538.8881 1101/01/~~2003~~2004 991087762 N/A 02/01/2013 N 1,~~573~~566,~~008~~079.3678 1,~~569~~562,~~553~~587.2586 1112/01/2003 991087763 N/A 01/01/2013 N 1,~~532~~517,~~906~~600.4469 1,~~525~~509,~~271~~892.8677 1112/01/2003 991087764 N/A 12/01/2017 N 1,~~518~~507,~~509~~854.2873 1,~~513~~502,~~197~~481.1780 1101/01/~~2003~~2004 991087765 N/A 10/01/2017 N 1,~~476~~465,~~210~~991.0591 1,~~471~~460,~~116~~836.3749 1101/01/~~2003~~2004 991087766 N/A 01/01/2018 N 1,~~467~~457,~~945~~188.0063 1,~~462~~451,~~580~~768.6773 1101/01/~~2003~~2004 991087767 N/A 02/01/2018 N 1,~~458~~447,~~438~~780.2257 1,~~453~~442,~~122~~410.9691 1001/01/~~2003~~2004 991087768 N/A 02/01/2018 N 1,~~389~~379,~~967~~707.4827 1,~~384~~374,~~850~~538.1766 1101/01/~~2003~~2004 991087709 N/A 05/01/2008 N 1,~~371~~355,~~589~~362.7833 1,~~363~~347,~~502~~170.1012 1101/01/~~2003~~2004 991087733 N/A 05/05/2018 N 1,~~375~~365,~~609~~646.8435 1,~~370~~360,~~747~~735.2840 1101/05/~~2003~~2004 991087769 N/A 03/01/2018 N 1,~~268~~259,~~314~~055.4941 1,~~263~~254,~~696~~390.5594 1001/01/~~2003~~2004 991087770 N/A 02/01/2013 N 1,~~142~~127,~~276~~443.2263 1,~~134~~119,~~880~~965.3486 1101/01/~~2003~~2004 991087771 N/A 01/01/2023 N 1,~~045~~040,~~316~~808.2100 1,~~043~~038,~~068~~535.3121 1101/01/~~2003~~2004 991087772 N/A 04/01/2013 N 1,~~020~~007,~~702~~339.6298 1,~~014~~000,~~037~~608.9651 1101/01/~~2003~~2004 991087773 N/A 09/10/2012 N 1999,~~013,353~~452.0094 1992,~~006,422~~444.4621 1012/10/2003 991087774 N/A 12/01/2012 N 1,~~027~~023,~~739~~144.8654 1,~~025~~020,~~448~~828.2956 1112/01/2003 991087775 N/A 01/01/2023 N 1,~~020~~016,~~495~~030.5796 1,~~018~~013,~~269~~780.2950 1101/01/~~2003~~2004 991087776 N/A 03/01/2018 N ~~976~~969,~~067~~068.3608 ~~972~~965,~~576~~541.8108 1101/01/~~2003~~2004 991087777 N/A 01/01/2018 N ~~969~~961,~~068~~995.0871 ~~965~~958,~~541~~431.0887 1101/01/~~2003~~2004 991087778 N/A 12/01/2017 N ~~883~~879,~~041~~523.5631 ~~881~~877,~~287~~747.8394 1112/01/2003 991087779 N/A 02/01/2013 N ~~835~~831,~~450~~717.3851 ~~833~~829,~~588~~836.7948 1101/01/~~2003~~2004 991087780 N/A 03/01/2018 N ~~785~~779,~~533~~842.2064 ~~782~~776,~~695~~975.1656 1012/01/2003 991087781 N/A 12/01/2017 N ~~677~~672,~~042~~291.3692 ~~674~~669,~~673~~896.9035 1101/01/~~2003~~2004 Totals ~~724~~723,~~637~~046,~~126~~157.4675 ~~723~~722,~~864~~264,~~394~~651.0135 Appraisal Appraisal Res Mod Reduction Reduction Strat. Code Date Amount (2) (3) Totals 0.00 (1) Property Type Code MF- Multi-Family RT- Retail HC- Health Care IN- Industrial WH- Warehouse MH- Mobile Home Park OF- Office MU- Mixed Use LO- Lodging SS- Self Storage OT- Other (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10- Deed In Lieu of Foreclosure 11- Full Payoff 12- Reps and Warranties 13- Other or TBD (3) Modification Code 1- Maturity Date Extension 2- Amortization Change 3- Principal Write-Off 4- Combination

Principal Prepayment Detail No Principal Prepayments this Period

Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Foreclosure REO Modifications Date # Balance # Balance # Balance # Balance # Balance # Balance 01/15/2004 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 12/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 11/17/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 10/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 09/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 08/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 07/15/2003 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00 0 $0.00

Prepayments Distribution Curtailments Payoff Date # Amount # Amount 01/15/2004 0 $0.00 0 $0.00 12/15/2003 0 $0.00 0 $0.00 11/17/2003 0 $0.00 0 $0.00 10/15/2003 0 $0.00 0 $0.00 09/15/2003 0 $0.00 0 $0.00 08/15/2003 0 $0.00 0 $0.00 07/15/2003 0 $0.00 0 $0.00

Rate and Maturities Distribution Next Weighted Avg. WAM Date Coupon Remit 01/15/2004 6.140326% 6.057882% 115 12/15/2003 6.140772% 6.058277% 116 11/17/2003 6.141215% 6.058672% 117 10/15/2003 6.141653% 6.059060% 118 09/15/2003 6.142089% 6.059448% 119 08/15/2003 6.142518% 6.059829% 120 07/15/2003 6.142944% 6.060206% 121 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Delinquency Loan Detail Offering # of Current Outstanding Status of Loan Number Document Months Paid Through P & I P & I Mortgage Cross-Reference Delinq. Date Advances Advances** Loan (1) 991087691 2 0 12/01/2003 0.00 0.00 B 991087692 5 0 12/01/2003 0.00 0.00 B 991087714 10 0 12/05/2003 0.00 0.00 B 991087693 25 0 12/01/2003 0.00 0.00 B 991087694 26 0 12/01/2003 0.00 0.00 B 991087746 68 0 12/01/2003 0.00 0.00 B 991087762 98 0 12/01/2003 0.00 0.00 B 991087763 99 0 12/01/2003 0.00 0.00 B 991087774 112 0 12/01/2003 0.00 0.00 B 991087777 115 0 01/01/2004 0.00 0.00 B 991087778 116 0 12/01/2003 0.00 0.00 B 991087780 118 0 12/01/2003 0.00 0.00 B Totals 12 0.00 0.00

Resolution Actual Outstanding Loan Number Strategy Servicing Foreclosure Principal Servicing Bankruptcy REO Code (2) Transfer Date Date Balance Advances 991087691 67,500,000.00 0.00 991087692 24,608,152.10 0.00 991087714 12,261,661.82 0.00 991087693 7,635,078.40 0.00 991087694 714,870.68 0.00 991087746 3,229,020.98 0.00 991087762 1,566,079.78 0.00 991087763 1,517,600.69 0.00 991087774 1,023,144.54 0.00 991087777 961,995.71 0.00 991087778 879,523.31 0.00 991087780 779,842.64 0.00 Totals 122,676,970.65 0.00

Totals by Delinquency Code: Current Outstanding Actual Outstanding P&I P & I Principal Servicing Advances Advances Balance Advances ~~Total for Status Code = B (12 Loans) 0.00 0.00 122,676,970.65 0.00~~

(1) Status of Mortgage Loan A- Payment Not Received But Still in Grace Period B- Late Payment But Less Than 1 Month Delinquent 0- Current 1- One Month Delinquent 2- Two Months Delinquent 3- Three Or More Months Delinquent 4- Assumed Scheduled Payment (Performing Matured Balloon) 7- Foreclosure 9- REO (2) Resolution Strategy Code 1- Modification 2- Foreclosure 3- Bankruptcy 4- Extension 5- Note Sale 6- DPO 7- REO 8- Resolved 9- Pending Return to Master Servicer 10- Deed In Lieu Of Foreclosure 11- Full Payoff 12- Reps and Warranties 13- Other or TBD ** Outstanding P & I Advances include the current period advance. Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially Serviced Loans this Period Modified Loan Detail No Modified Loans Liquidated Loan Detail No Liquidated Loans this Period

Filing Compare · MORGAN STANLEY CAPITAL I TRUST 2003-IQ4