8-K 1 gmc04c01_10501.txt 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: January 10, 2005 (Date of earliest event reported) Commission File No.: 333-107510-02 GMAC Commercial Mortgage Securities, Inc. Mortgage Pass-Through Certificates Series 2004-C1 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-2151885 54-2151886 54-2151887 54-2151888 54-2151889 54-6642477 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On January 10, 2005, a distribution was made to holders of GMAC Commercial Mortgage Securities, Inc., Mortgage Pass-Through Certificates, Series 2004-C1. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-C1, relating to the January 10, 2005 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. GMAC Commercial Mortgage Securities, Inc. Mortgage Pass-Through Certificates Series 2004-C1 (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 10, 2005 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-C1, relating to the January 10, 2005 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 GMAC Commercial Mortgage Securities, Inc. Mortgage Pass-Through Certificates Series 2004-C1 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: January 10, 2005 Record Date: December 31, 2004 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 - 13 Principal Prepayment Detail 14 Historical Detail 15 Delinquency Loan Detail 16 - 17 Specially Serviced Loan Detail 18 - 19 Modified Loan Detail 20 Liquidated Loan Detail 21 Depositor GMAC Commercial Mortgage Securities, Inc. 200 Witmer Road Horsham, PA 19044 Contact: Karen Repeckyj Phone Number: (215) 328-1259 Master Servicer GMAC Commercial Mortgage Corporation 200 Witmer Road Horsham, PA 19044-8015 Contact: Darri Cunningham Phone Number: (215) 328-1784 Special Servicer Lennar Partners, Inc. 760 N.W. 107th Avenue Miami, FL 33172 Contact: Steve Bruha Phone Number: (305) 229-6614 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, 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, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2005, Wells Fargo Bank, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Interest Rate Balance Balance Distribution Distribution A-1 361849C59 3.118000% 52,000,000.00 44,~~587~~011,~~921~~825.8571 ~~576~~500,~~096~~103.1422 ~~115~~114,~~854~~357.2839 A-2 361849C67 4.100000% 55,000,000.00 55,000,000.00 0.00 187,916.67 A-3 361849C75 4.776000% 50,000,000.00 50,000,000.00 0.00 199,000.00 A-4 361849D41 4.908000% 343,755,000.00 343,755,000.00 0.00 1,405,957.95 A-1A 361849D74 4.481000% 102,519,000.00 101,~~804~~692,~~973~~874.8761 ~~112~~98,~~099~~207.2637 ~~380~~379,~~156~~738.7414 B 361849C83 4.991000% 20,740,000.00 20,740,000.00 0.00 86,261.12 C 361849C91 5.041000% 8,116,000.00 8,116,000.00 0.00 34,093.96 D 361849D25 5.070000% 15,330,000.00 15,330,000.00 0.00 64,769.25 E 361849D33 5.169000% 8,116,000.00 8,116,000.00 0.00 34,959.67 F 361849D82 5.347000% 12,624,000.00 12,624,000.00 0.00 56,250.44 G 361849D90 5.455000% 8,116,000.00 8,116,000.00 0.00 36,893.98 H 361849E24 5.~~702351~~686711% 10,821,000.00 10,821,000.00 0.00 51,~~420~~416.9583 J 361849E32 5.173000% 4,509,000.00 4,509,000.00 0.00 19,437.55 K 361849E40 5.173000% 4,509,000.00 4,509,000.00 0.00 19,437.55 L 361849E57 5.173000% 4,508,000.00 4,508,000.00 0.00 19,433.24 M 361849E65 5.173000% 2,706,000.00 2,706,000.00 0.00 11,665.11 N 361849E73 5.173000% 2,705,000.00 2,705,000.00 0.00 11,660.80 O 361849E81 5.173000% 2,705,000.00 2,705,000.00 0.00 11,660.80 P 361849E99 5.173000% 12,625,189.65 12,625,189.65 0.00 5354,~~851~~425.3609 R-I N/A 0.000000% 0.00 0.00 0.00 0.00 R-II N/A 0.000000% 0.00 0.00 0.00 0.00 R-III N/A 0.000000% 0.00 0.00 0.00 0.00 Totals 721,404,189.65 ~~713~~712,~~278~~589,~~085~~889.3797 ~~688~~598,~~195~~310.4059 2,~~800~~799,~~681~~335.4254

Class CUSIP Prepayment Realized Loss/ Total Ending Current Premium Additional Trust Distribution Balance Subordination Fund Expenses Level (1) A-1 361849C59 0.00 0.00 ~~691~~614,~~950~~460.4261 4443,~~011~~511,~~825~~722.7149 16.5859% A-2 361849C67 0.00 0.00 187,916.67 55,000,000.00 16.5859% A-3 361849C75 0.00 0.00 199,000.00 50,000,000.00 16.5859% A-4 361849D41 0.00 0.00 1,405,957.95 343,755,000.00 16.5859% A-1A 361849D74 0.00 0.00 ~~492~~477,~~256~~945.0051 101,~~692~~594,~~874~~667.6124 16.5859% B 361849C83 0.00 0.00 86,261.12 20,740,000.00 13.6768% C 361849C91 0.00 0.00 34,093.96 8,116,000.00 12.5354% D 361849D25 0.00 0.00 64,769.25 15,330,000.00 10.3839% E 361849D33 0.00 0.00 34,959.67 8,116,000.00 9.2425% F 361849D82 0.00 0.00 56,250.44 12,624,000.00 7.47% G 361849D90 0.00 0.00 36,893.98 8,116,000.00 6.33% H 361849E24 0.00 0.00 51,~~420~~416.9583 10,821,000.00 4.81% J 361849E32 0.00 0.00 19,437.55 4,509,000.00 4.18% K 361849E40 0.00 0.00 19,437.55 4,509,000.00 3.5455% L 361849E57 0.00 0.00 19,433.24 4,508,000.00 2.91% M 361849E65 0.00 0.00 11,665.11 2,706,000.00 2.53% N 361849E73 0.00 0.00 11,660.80 2,705,000.00 2.15% O 361849E81 0.00 0.00 11,660.80 2,705,000.00 1.77% P 361849E99 0.00 0.00 5354,~~851~~425.3609 12,625,189.65 0.00% R-I N/A 0.00 0.00 0.00 0.00 0.00% R-II N/A 0.00 0.00 0.00 0.00 0.00% R-III N/A 0.00 0.00 0.00 0.00 0.00% Totals 0.00 0.00 3,~~488~~397,~~876~~646.8213 ~~712~~711,~~589~~991,~~889~~579.9738

Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount X-1 361849D58 0.~~049699~~047112% 721,404,189.65 ~~713~~712,~~278~~589,~~085~~889.3797 2927,~~540~~976.9804 X-2 361849D66 0.~~970101~~970002% 691,069,000.00 691,069,000.00 558,~~672~~615.0738

Class CUSIP Prepayment Total Ending Premium Distribution Notional Amount X-1 361849D58 0.00 2927,~~540~~976.9804 ~~712~~711,~~589~~991,~~889~~579.9738 X-2 361849D66 0.00 558,~~672~~615.0738 691,~~069~~008,~~000~~722.0049 (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 Class CUSIP Beginning Principal Interest Prepayment Realized Loss/ Ending Balance Distribution Distribution Premium Additional Balance Trust Fund Expenses A-1 361849C59 ~~857~~846.~~46003558~~38126365 119.~~07877192~~61736962 2.~~22796692~~19918058 0.00000000 0.00000000 ~~846~~836.~~38126365~~76389404 A-2 361849C67 1,000.00000000 0.00000000 3.41666673 0.00000000 0.00000000 1,000.00000000 A-3 361849C75 1,000.00000000 0.00000000 3.98000000 0.00000000 0.00000000 1,000.00000000 A-4 361849D41 1,000.00000000 0.00000000 4.09000000 0.00000000 0.00000000 1,000.00000000 A-1A 361849D74 ~~993~~991.~~03518245~~94173382 10.~~09344863~~95794311 3.~~70815888~~70407573 0.00000000 0.00000000 ~~991~~990.~~94173382~~98379071 B 361849C83 1,000.00000000 0.00000000 4.15916683 0.00000000 0.00000000 1,000.00000000 C 361849C91 1,000.00000000 0.00000000 4.20083292 0.00000000 0.00000000 1,000.00000000 D 361849D25 1,000.00000000 0.00000000 4.22500000 0.00000000 0.00000000 1,000.00000000 E 361849D33 1,000.00000000 0.00000000 4.30750000 0.00000000 0.00000000 1,000.00000000 F 361849D82 1,000.00000000 0.00000000 4.45583333 0.00000000 0.00000000 1,000.00000000 G 361849D90 1,000.00000000 0.00000000 4.54583292 0.00000000 0.00000000 1,000.00000000 H 361849E24 1,000.00000000 0.00000000 4.~~75195915~~75157841 0.00000000 0.00000000 1,000.00000000 J 361849E32 1,000.00000000 0.00000000 4.31083389 0.00000000 0.00000000 1,000.00000000 K 361849E40 1,000.00000000 0.00000000 4.31083389 0.00000000 0.00000000 1,000.00000000 L 361849E57 1,000.00000000 0.00000000 4.31083407 0.00000000 0.00000000 1,000.00000000 M 361849E65 1,000.00000000 0.00000000 4.31083149 0.00000000 0.00000000 1,000.00000000 N 361849E73 1,000.00000000 0.00000000 4.31083179 0.00000000 0.00000000 1,000.00000000 O 361849E81 1,000.00000000 0.00000000 4.31083179 0.00000000 0.00000000 1,000.00000000 P 361849E99 1,000.00000000 0.00000000 4.~~26539018~~31083346 0.00000000 0.00000000 1,000.00000000 R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000

Class CUSIP Beginning Interest Prepayment Ending Notional Distribution Premium Notional Amount Amount X-1 361849D58 ~~988~~987.~~73571238~~78174592 0.~~04094928~~03877998 0.00000000 ~~987~~986.~~78174592~~95237648 X-2 361849D66 1,000.00000000 0.~~80841721~~80833517 0.00000000 ~~1,000~~999.~~00000000~~91277642

Reconciliation Detail Advance Summary P & I Advances Outstanding 0.00 Servicing Advances Outstanding 216,~~393~~784.6051 Reimbursement for Interest on P & I Advances ~~573~~0.7300 paid from general collections Reimbursement for Interest on Servicing 0.00 Advances paid from general collections

Servicing Fee Summary Current Period Accrued Master Servicing Fees 4546,~~148~~579.4015 Less Master Servicing Fees on Delinquent Payments ~~423~~23,358.0733 Less Reductions to Master Servicing Fees 0.00 Plus Master Servicing Fees for Delinquent Payments Received ~~30,997~~423.8207 Plus Adjustments for Prior Master Servicing Calculation 0.00 Total Master Servicing Fees Collected 7523,~~723~~643.1589

Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Certificate Prepayment Certificate Certificate Interest Interest Interest Shortfall Interest Adjustment A-1 ~~115~~114,~~854~~357.2839 0.00 ~~115~~114,~~854~~357.2839 0.00 A-2 187,916.67 0.00 187,916.67 0.00 A-3 199,000.00 0.00 199,000.00 0.00 A-4 1,405,957.95 0.00 1,405,957.95 0.00 A-1A ~~380~~379,~~156~~738.7414 0.00 ~~380~~379,~~156~~738.7414 0.00 X-1 2927,~~540~~976.9804 0.00 2927,~~540~~976.9804 0.00 X-2 558,~~672~~615.0738 0.00 558,~~672~~615.0738 0.00 B 86,261.12 0.00 86,261.12 0.00 C 34,093.96 0.00 34,093.96 0.00 D 64,769.25 0.00 64,769.25 0.00 E 34,959.67 0.00 34,959.67 0.00 F 56,250.44 0.00 56,250.44 0.00 G 36,893.98 0.00 36,893.98 0.00 H 51,~~420~~416.9583 0.00 51,~~420~~416.9583 0.00 J 19,437.55 0.00 19,437.55 0.00 K 19,437.55 0.00 19,437.55 0.00 L 19,433.24 0.00 19,433.24 0.00 M 11,665.12 0.00 11,665.12 0.00 N 11,660.80 0.00 11,660.80 0.00 O 11,660.80 0.00 11,660.80 0.00 P 54,425.09 0.00 54,425.09 0.00 Total 3,~~389~~385,~~468~~926.2197 0.00 3,~~389~~385,~~468~~926.2197 0.00

Certificate Interest Reconciliation Class Additional Interest Total Unpaid Trust Fund Distribution Interest Distributable Expenses Distribution Certificate Int. A-1 0.00 ~~115~~114,~~854~~357.2839 ~~115~~114,~~854~~357.2839 0.00 A-2 0.00 187,916.67 187,916.67 0.00 A-3 0.00 199,000.00 199,000.00 0.00 A-4 0.00 1,405,957.95 1,405,957.95 0.00 A-1A 0.00 ~~380~~379,~~156~~738.7414 ~~380~~379,~~156~~738.7414 0.00 X-1 0.00 2927,~~540~~976.9804 2927,~~540~~976.9804 0.00 X-2 0.00 558,~~672~~615.0738 558,~~672~~615.0738 0.00 B 0.00 86,261.12 86,261.12 0.00 C 0.00 34,093.96 34,093.96 0.00 D 0.00 64,769.25 64,769.25 0.00 E 0.00 34,959.67 34,959.67 0.00 F 0.00 56,250.44 56,250.44 0.00 G 0.00 36,893.98 36,893.98 0.00 H 0.00 51,~~420~~416.9583 51,~~420~~416.9583 0.00 J 0.00 19,437.55 19,437.55 0.00 K 0.00 19,437.55 19,437.55 0.00 L 0.00 19,433.24 19,433.24 0.00 M 0.00 11,665.11 11,665.11 0.00 N 0.00 11,660.80 11,660.80 0.00 O 0.00 11,660.80 11,660.80 0.00 P ~~573~~0.7300 5354,~~851~~425.3609 5354,~~851~~425.3609 1,998.32 Total ~~573~~0.7300 3,~~388~~385,~~894~~926.4796 3,~~388~~385,~~894~~926.4796 1,998.32

Other Required Information Available Distribution Amount (1) 43,~~077~~984,~~089~~237.8755 Aggregate Number of Outstanding Loans 64 Aggregate Stated Principal Balance of Loans before Distributions ~~713~~712,~~278~~589,~~085~~889.3797 Aggregate Stated Principal Balance of Loans after Distributions ~~712~~711,~~589~~991,~~889~~579.9738 Percentage of Cut-off Date Principal Balance after Distributions 98.7870% Aggregate Amount of Servicing Fee 7523,~~723~~643.1589 Aggregate Amount of Special Servicing Fee 0.00 Aggregate Amount of Trustee Fee 2,~~020~~083.9500 Aggregate Additional Trust Fund Expenses ~~573~~0.7300 Specially Serviced Loans not Delinquent Number of Outstanding Loans 0 Aggregate Unpaid Principal Balance 0.00 Interest Reserve Account Deposits 098,500.0089 Withdrawals 0.00 (1) The Available Distribution Amount includes any Prepayment Premiums.

Appraisal Reductions None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 3,533,090.04 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 3,533,090.04 Principal: Scheduled Principal 598,310.59 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 598,310.59 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 4,131,400.63 Total Funds Distributed Fees: Master Servicing Fee 46,579.15 Trustee Fee 2,083.00 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 48,662.15 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 98,500.89 Payments to Certificateholders & Others: Interest Distribution 3,385,926.96 Principal Distribution 598,310.59 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 3,984,237.55 Total Funds Distributed 4,131,400.59

Current Mortgage Loan and Property Stratification Tables Scheduled Balance Scheduled # of Scheduled % of WAM WAC Weighted Balance Loans Balance Agg. (2) Avg DSCR (1) Bal. Below 1,466,685 2 2,~~910~~907,~~835~~800.8796 0.41 ~~107~~106 6.~~4445~~4444 1.~~091964~~092022 1,466,685 to 1,999,999 5 8,~~848~~839,~~853~~155.8566 1.24 ~~102~~101 5.8662 1.~~304048~~281489 2,000,000 to 2,999,999 4 9,~~821~~813,~~925~~974.9644 1.38 ~~111~~110 5.8305 1.~~335802~~357156 3,000,000 to 3,999,999 7 24,~~842~~819,~~802~~650.4896 3.49 ~~102~~101 5.7935 1.~~548871~~548850 4,000,000 to 5,999,999 12 59,~~979~~918,~~261~~543.3523 8.42 9695 5.6531 1.~~266804~~245863 6,000,000 to 7,999,999 3 20,~~218~~204,~~025~~568.14 2.84 9190 5.~~5474~~5472 1.~~362399~~362357 8,000,000 to 9,999,999 6 52,~~170~~113,~~831~~881.1473 7.32 ~~100~~99 5.~~8419~~8418 1.~~559065~~598409 10,000,000 to 14,999,999 8 101,~~562~~453,~~763~~785.2908 14.25 ~~119~~118 6.~~0058~~0057 1.~~356063~~399186 15,000,000 to 29,999,999 10 175,~~924~~812,~~040~~867.4204 24.69 ~~103~~102 5.~~7698~~7697 1.~~313286~~305628 30,000,000 to 49,956,233 7 256,~~310~~107,~~550~~352.4714 35.97 ~~106~~105 5.~~7047~~7046 1.~~399921~~434340 49,956,234 and Above 0 0.00 0.00 0 0.0000 0.000000 Totals 64 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Arizona 10 30,~~187~~161,~~680~~716.8173 4.24 7170 5.4506 0.~~976302~~934806 Arkansas 1 47,802.72 0.01 ~~108~~107 5.4891 1.916800 California 56 84,~~609~~553,~~576~~588.6115 11.8788 ~~101~~100 5.7287 1.~~381234~~433048 Connecticut 2 9,~~552~~541,~~191~~064.4942 1.34 ~~109~~108 6.8520 1.~~642982~~642994 Delaware 1 4,~~761~~757,~~439~~402.3021 0.67 ~~111~~110 6.1400 0.587800 Florida 32 34,~~477~~454,~~214~~947.79 4.84 ~~102~~101 5.7474 1.~~615885~~615953 Georgia 6 406,323.12 0.06 ~~108~~107 5.4891 1.916800 Idaho 1 69,439.74 0.01 ~~108~~107 5.4891 1.916800 Illinois 4 26,~~155~~123,~~677~~934.1907 3.67 ~~162~~161 6.~~3979~~3977 1.~~471511~~471619 Kansas 2 119,506.80 0.02 ~~108~~107 5.4891 1.916800 Maryland 4 35,~~906~~868,~~097~~718.2343 5.04 7877 5.2634 1.~~078074~~080531 Michigan 5 32,~~731~~719,~~513~~538.7360 4.5960 ~~111~~110 5.~~6938~~6937 1.~~413760~~413720 Minnesota 1 4,~~010~~007,~~914~~296.7622 0.56 ~~110~~109 5.9300 1.416700 Missouri 14 17,763,082.37 2.49 ~~111~~110 5.7388 1.288215 Nebraska 1 13,~~071~~055,~~402~~949.7579 1.83 ~~109~~108 6.7900 1.537000 Nevada 4 18,~~874~~870,~~017~~650.6919 2.65 ~~109~~108 5.8705 1.~~255526~~255506 New Jersey 6 86,~~404~~321,~~404~~223.6573 12.1312 ~~111~~110 5.6363 1.~~355539~~355538 New Mexico 2 231,465.80 0.03 ~~108~~107 5.4891 1.916800 New York 3 40,~~205~~164,~~458~~434.8778 5.64 ~~112~~111 5.3733 1.~~511367~~511366 North Carolina 3 9,~~663~~655,~~859~~854.6434 1.36 9291 5.3410 1.~~404902~~426713 Ohio 4 60,~~133~~070,~~458~~168.6970 8.44 ~~103~~102 5.~~9395~~9394 1.~~080659~~226753 Oklahoma 2 114,474.94 0.02 ~~108~~107 5.4891 1.916800 Oregon 2 17,~~213~~196,~~017~~670.8800 2.42 ~~109~~108 5.7407 1.356910 Pennsylvania 6 111,~~731~~606,~~857~~373.3708 15.68 ~~106~~105 6.~~0692~~0691 1.~~409994~~395377 South Carolina 1 76,987.54 0.01 ~~108~~107 5.4891 1.916800 Tennessee 1 75,477.98 0.01 ~~108~~107 5.4891 1.916800 Texas 16 5,~~204~~198,~~520~~616.0758 0.73 ~~110~~109 5.6936 1.~~526151~~526277 Virginia 12 65,~~150~~118,~~470~~316.8901 9.1415 ~~102~~101 5.~~5311~~5309 1.~~656714~~688330 Washington 15 3,640,554.54 0.51 ~~108~~107 5.4891 1.916800 Totals 217 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

Debt Service Coverage Ratio (1) Debt Service # of Scheduled % of WAM WAC Weighted Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1) Bal. Below 1.20 89 ~~103~~119,~~417~~881,~~215~~916.7632 1416.5184 8288 5.~~6167~~8252 01.~~918196~~018036 1.20 to 1.29 1615 ~~137~~115,~~828~~924,~~188~~054.2060 1916.3428 ~~104~~98 5.~~9534~~7703 1.~~240353~~245840 1.30 to 1.39 2221 ~~273~~267,~~264~~281,~~300~~978.0192 3837.3554 ~~109~~108 5.~~7102~~7201 1.~~351572~~352254 1.40 to 1.49 7 56,~~975~~911,~~077~~933.1690 87.0099 ~~126~~125 6.~~0364~~0363 1.~~414783~~414785 1.50 to 1.59 2 20,~~984~~962,~~901~~048.0152 2.94 ~~109~~108 6.4204 1.~~545673~~545675 1.60 to 1.69 1 910,~~793~~962,~~075~~691.0780 1.3754 ~~104~~110 65.~~5200~~7500 1.~~631000~~649200 1.70 to 1.79 34 1221,~~104~~871,~~437~~252.2609 13.7007 ~~110~~106 6.~~6445~~5888 1.~~773284~~770027 1.80 to 1.89 1 35,000,000.00 4.9192 ~~111~~110 5.2240 1.879647 1.90 to 1.92 1 36,126,528.48 5.07 ~~108~~107 5.4891 1.916800 1.93 or Above 3 27,~~096~~069,~~167~~174.0275 3.80 ~~103~~102 5.~~5048~~5049 2.~~140345~~140340 Totals 64 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Industrial 3 38,~~049~~000,~~204~~944.6880 5.34 ~~109~~108 6.1235 01.~~931641~~162509 Lodging 4 50,~~395~~333,~~104~~804.4249 7.07 ~~107~~106 6.7382 1.~~468153~~467631 Mixed Use 38 5,~~346~~343,~~606~~555.7183 0.75 ~~110~~109 5.~~8208~~8207 1.~~581297~~581401 Mobile Home Park 3 35,~~151~~114,~~467~~837.8596 4.93 5150 5.3175 1.~~154606~~154590 Multi-Family 10 86,~~355~~274,~~660~~181.2269 12.12 9089 5.~~4490~~4489 1.~~196647~~183135 Office 130 ~~241~~240,~~074~~910,~~343~~671.7054 33.8384 ~~106~~105 5.6652 1.~~492242~~513478 Other 2 6,~~142~~133,~~689~~165.1673 0.86 5251 5.3502 1.~~276046~~229234 Retail 24 245,~~929~~740,~~249~~756.2181 34.51 ~~117~~116 5.~~8206~~8205 1.~~396552~~397452 Self Storage 3 4,~~145~~139,~~564~~660.0253 0.58 ~~111~~110 5.~~7458~~7459 1.~~426363~~426379 Totals 217 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

Note Rate Note Rate # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 5.01% or Less 0 0.00 0.00 0 0.0000 0.000000 5.0200% to 5.2499% 7 123,~~295~~207,~~366~~427.1350 17.30 8786 5.1848 1.~~407096~~413156 5.2500% to 5.4999% 11 111,~~814~~734,~~705~~425.7180 15.69 9493 5.4324 1.~~522369~~508709 5.5000% to 5.7499% 8 95,~~280~~205,~~630~~956.7214 13.37 ~~111~~110 5.5987 1.~~464605~~464583 5.7500% to 5.9999% 20 193,~~800~~667,~~215~~019.5749 27.20 ~~108~~107 5.8171 1.~~334015~~358137 6.0000% to 6.4999% 12 122,~~610~~472,~~430~~845.6898 17.2120 ~~109~~108 6.~~1866~~1865 1.~~160210~~231851 6.5000% to 7.1600% 6 65,~~788~~703,~~541~~904.1647 9.23 ~~132~~131 6.8254 1.~~439661~~439264 7.1700% or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 64 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 12 months or less 5753 ~~640~~584,~~600~~452,~~728~~671.0271 8982.9009 ~~106~~104 5.~~7273~~7327 1.~~378972~~364825 13 to 24 months 711 71127,~~989~~538,~~161~~907.9567 1017.1091 ~~101~~103 65.~~1971~~9674 1.~~325050~~512539 25 to 36 months 0 0.00 0.00 0 0.0000 0.000000 37 to 48 months 0 0.00 0.00 0 0.0000 0.000000 49 months or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 64 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285

Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of WAM WAC Weighted Remaining Term (2) Loans Balance Agg. (2) Avg DSCR (1) Bal. 46 Months or Less 1 5,~~363~~358,~~950~~530.8305 0.75 3938 5.7500 1.220000 47 to 51 Months 56 4554,~~894~~412,~~580~~002.5093 67.4464 50 5.~~2895~~2471 1.~~178761~~183710 52 to 80 Months 43 4839,~~610~~996,~~243~~185.4169 65.8262 7174 5.~~1786~~2126 1.~~099747~~087161 81 to 100 Months 0 0.00 0.00 0 0.0000 0.000000 101 to 120 Months 53 598,~~779~~304,~~223~~498.1549 84.03 ~~110~~109 5.~~8283~~8282 1.~~411371~~431758 121 to 180 Months 0 0.00 0.00 0 0.0000 0.000000 181 to 237 Months 0 0.00 0.00 0 0.0000 0.000000 238 Months or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 63 698,~~647~~071,~~997~~217.8916 98.04 ~~103~~102 5.7471 1.~~372939~~391054

Remaining Stated Term (Fully Amortizing Loans) Remaining Stated # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. 46 Months or Less 0 0.00 0.00 0 0.0000 0.000000 47 to 51 Months 0 0.00 0.00 0 0.0000 0.000000 52 to 80 Months 0 0.00 0.00 0 0.0000 0.000000 81 to 100 Months 0 0.00 0.00 0 0.0000 0.000000 101 to 120 Months 0 0.00 0.00 0 0.0000 0.000000 121 to 180 Months 0 0.00 0.00 0 0.0000 0.000000 181 to 237 Months 1 13,~~941~~920,~~892~~362.0822 1.96 ~~228~~227 7.1600 1.402843 238 Months or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 1 13,~~941~~920,~~892~~362.0822 1.96 ~~228~~227 7.1600 1.402843

Remaining Amortization Term (ARD and Balloon Loans) Remaining Amortization # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. 46 Months or Less 0 0.00 0.00 0 0.0000 0.000000 47 to 51 Months 0 0.00 0.00 0 0.0000 0.000000 52 to 80 Months 0 0.00 0.00 0 0.0000 0.000000 81 to 100 Months 0 0.00 0.00 0 0.0000 0.000000 101 to 120 Months 0 0.00 0.00 0 0.0000 0.000000 121 to 180 Months 0 0.00 0.00 0 0.0000 0.000000 181 to 237 Months 0 0.00 0.00 0 0.0000 0.000000 238 to 280 Months 0 0.00 0.00 0 0.0000 0.000000 281 to 320 Months 13 182,~~699~~531,~~660~~468.7122 25.64 ~~106~~105 6.~~1659~~1657 1.~~396620~~443100 321 to 340 Months 2 24,~~863~~858,~~950~~530.8305 3.49 9695 5.5696 1.~~314112~~314133 341 to 360 Months 48 ~~491~~490,~~084~~681,~~386~~218.3589 68.92 ~~102~~101 5.6003 1.~~367108~~375590 361 Months or Greater 0 0.00 0.00 0 0.0000 0.000000 Totals 63 698,~~647~~071,~~997~~217.8916 98.04 ~~103~~102 5.7471 1.~~372939~~391054

Age of Most Recent NOI Age of Most # of Scheduled % of WAM WAC Weighted Recent NOI Loans Balance Agg. (2) Avg DSCR (1) Bal. Underwriter's Information 3431 ~~360~~341,~~027~~112,~~275~~769.3656 5047.5291 ~~112~~111 5.~~6609~~6638 1.~~445009~~454570 1 year or less 3033 ~~352~~370,~~562~~878,~~614~~809.6182 4952.4809 98 5.~~8911~~8767 1.~~300526~~333079 1 to 2 years 0 0.00 0.00 0 0.0000 0.000000 2 years or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 64 ~~712~~711,~~589~~991,~~889~~579.9738 100.00 ~~105~~104 5.~~7748~~7747 1.~~373524~~391285 (1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers 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.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type (1) City State Payment Payment Coupon 11041837 1 OF Newark NJ ~~239~~247,~~412~~125.6560 5345,~~645~~932.5459 5.790% 991089450 2 OF Ft. Washington PA 7275,~~684~~023.4008 1715,~~446~~107.0032 5.600% 991089451 3 OF Ft. Washington PA ~~154~~159,~~165~~125.0040 3732,~~003~~042.3090 5.600% 991088341 4 Various Various Various ~~165~~170,~~252~~760.3071 0.00 5.489% 991089455 5 RT Richland Township PA ~~197~~203,~~121~~399.5476 5346,~~073~~795.9472 6.400% 991089307 6 RT McLean VA 152,366.67 0.00 5.224% 991089448 7 MF Lanham MD ~~147~~151,~~003~~722.3613 4035,~~282~~564.8710 5.228% 991089445 8 IN Columbus OH ~~164~~169,~~302~~525.8901 4842,~~085~~863.1402 6.150% 991089447 9 RT New York NY ~~100~~104,~~921~~161.2429 2724,~~584~~344.7974 5.220% 11044050 10 MH Peoria AZ 9093,~~254~~155.0733 2219,~~802~~901.3105 5.460% 11041844 11 LO Wayne PA ~~109~~112,~~447~~936.5076 2723,~~352~~863.9973 6.750% 11042429 12 OF Farmington Hills MI 90,945.84 0.00 5.520% 11043883 13 RT Overland MO 82,589.70 0.00 5.750% 991089446 14 OF Columbus OH 7881,~~514~~044.3085 1614,~~900~~369.0550 5.950% 991089458 15 OF Various CA 7476,~~366~~845.6756 0.00 5.750% 11042650 16 OF Boca Raton FL 7578,~~894~~341.3302 1613,~~033~~587.7304 6.020% 11043068 17 RT Henderson NV 74,369.10 0.00 5.860% 991089464 18 RT Randolph NJ 6567,~~733~~846.9845 1614,~~853~~741.9750 5.420% 991089454 19 RT Lombard IL 8385,~~339~~959.1951 2521,~~569~~529.8186 7.160% 11043356 20 RT Newbury Park CA 6668,~~323~~462.7194 1311,~~758~~619.8663 6.040% 11042612 21 LO Omaha NE 7476,~~063~~427.1777 1715,~~817~~452.5696 6.790% 991089460 22 MF Los Angeles CA 5961,~~104~~009.9832 1311,~~023~~119.6531 5.870% 11042829 23 MH San Jose CA 5052,~~688~~313.6253 1413,~~736~~111.8392 5.100% 11043262 24 RT Seaside OR 5758,~~058~~895.1183 1211,~~970~~132.6391 5.750% 11043916 25 OF Los Angeles CA 5254,~~636~~331.1140 1110,~~965~~270.4112 5.750% 11041662 26 LO Vienna VA 5354,~~287~~982.0668 1412,~~358~~663.6907 6.520% 11042864 27 MF Poughkeepsie NY 4243,~~568~~938.0884 98,~~782~~411.0832 5.720% 991089461 28 RT Blairstown NJ 3940,~~220~~481.9033 108,~~056~~795.1168 5.420% 991089453 29 OF Newport News VA 3537,~~899~~049.0972 109,~~641~~491.7714 5.020% 11042803 30 OF New York NY 3637,~~750~~931.3417 98,~~448~~268.8603 5.430% 11043647 31 LO Stonington CT 4648,~~573~~061.2759 109,~~808~~320.4917 6.890% 11043452 32 RT Mount Clemens MI 3839,~~356~~591.3367 87,~~634~~399.8753 5.810% 11043422 33 MF Batavia OH 2930,~~363~~308.6638 76,~~002~~057.1947 5.650% 11043618 34 MF Brunswick OH 26,213.21 0.00 5.100% 11041805 35 RT Vista CA 2930,~~581~~536.6631 65,~~019~~065.7308 6.060% 991089465 36 MF Casa Grande AZ 25,~~157~~964.2678 6,~~870~~063.5503 5.250% 991089462 37 RT North Wildwood NJ 2425,~~761~~557.6742 65,~~348~~553.8005 5.420% 11043788 38 RT Kissimmee FL 2627,~~501~~355.2507 5,~~916~~063.8604 5.800% 11040026 39 OF Ivyland PA 2526,~~732~~559.2001 65,~~247~~420.5978 5.750% 991089457 40 MF Oregon City OR 2526,~~378~~195.8713 65,~~031~~214.2397 5.720% 991089449 41 MF Kinston NC 2021,~~450~~105.0330 65,~~082~~426.0073 5.040% 991089459 42 RT Wilmington DE 2425,~~387~~174.3879 4,~~824~~037.5009 6.140% 11043699 43 OT Franklin Park IL 2021,~~749~~405.9224 7,~~924~~269.9159 5.325% 11043896 44 OF Franklin Township NJ 20,~~136~~783.2078 4,~~988~~340.4688 5.500% 11040405 45 IN Virginia Beach VA 20,~~205~~857.7721 43,~~296~~645.7834 5.970% 11042632 46 RT Inver Grove Heights MN 1920,~~841~~481.6529 43,~~258~~618.1854 5.930% 11042836 47 RT Oak Hall VA 1920,~~867~~508.2262 3,~~951~~309.1171 6.125% 991089463 48 RT Paterson NJ 17,~~021~~568.4142 43,~~364~~817.2322 5.420% 11042405 49 OF Las Vegas NV 18,~~355~~947.5316 3,~~959~~367.1350 5.930% 11038533 50 MU Davis CA 17,~~372~~933.9539 3,~~611~~050.3288 6.000% 11044049 51 MH Arcadia FL 15,~~007~~489.6133 43,~~098~~616.6492 5.250% 11041565 52 RT Mathews VA 1617,~~670~~208.7613 3,~~582~~045.9962 5.940% 11043511 53 RT Rockford IL 1516,~~773~~281.0131 32,~~451~~943.9767 5.875% 11043655 54 RT Littleton NC 13,~~349~~779.2126 32,~~008~~578.6257 5.760% 11044038 55 RT Phoenix AZ 12,026.84 0.00 5.810% 11044012 56 SS Round Rock TX 1011,~~949~~295.1577 3,~~846~~499.3472 5.540% 11042888 57 RT Troy MI 11,~~605~~980.6541 21,~~247~~873.9923 6.250% 991089452 58 MF Baltimore MD 9,~~660~~971.0435 21,~~126~~814.0170 5.840% 11042957 59 IN Placentia CA 910,~~932~~252.0035 21,~~071~~751.8752 6.010% 991042932 60 SS Various TX 89,~~931~~215.8867 2,~~687~~403.5677 6.020% 11041544 61 OF Chelsea MI 8,~~104~~365.0125 1,~~735~~474.6036 5.950% 11042897 62 OT Philadelphia PA 6,~~683~~894.6187 2,~~465~~253.1084 5.430% 11042887 63 RT Troy MI 7,~~608~~853.1582 1,~~473~~228.6801 6.250% 991089456 64 MF Hartford CT 8,~~043~~299.3061 21,~~063~~806.2190 6.640% Totals 3,~~436~~533,~~637~~090.5604 ~~688~~598,~~195~~310.4059

Loan Anticipated Maturity Neg. Beginning Ending Paid Thru Number Repayment Date Amort Scheduled Scheduled Date Date (Y/N) Balance Balance 11041837 N/A 03/01/2014 N 49,~~619~~565,~~202~~556.1460 49,~~565~~519,~~556~~624.6001 12/01/2004 991089450 N/A 03/01/2014 N 15,~~575~~557,~~228~~782.43 15,~~557~~542,~~782~~675.4311 12/01/2004 991089451 N/A 03/01/2014 N 3332,~~035~~998,~~357~~353.1383 32,~~998~~966,~~353~~310.8393 12/01/2004 991088341 N/A 12/01/2013 N 36,126,528.48 36,126,528.48 1201/01/~~2004~~2005 991089455 N/A 02/01/2014 N 36,~~960~~907,~~287~~214.9400 36,~~907~~860,~~214~~418.0028 1201/01/~~2004~~2005 991089307 N/A 03/01/2014 N 35,000,000.00 35,000,000.00 1201/01/~~2004~~2005 991089448 N/A 04/01/2011 N 33,~~742~~701,~~164~~881.4659 33,~~701~~666,~~881~~317.5949 12/01/2004 991089445 N/A 01/01/2014 N 32,~~059~~011,~~101~~015.1197 3231,~~011~~968,~~015~~152.9795 1201/01/~~2004~~2005 991089447 N/A 05/01/2014 N 23,~~200~~172,~~285~~701.8506 23,~~172~~148,~~701~~356.0632 1201/01/~~2004~~2005 11044050 N/A 03/01/2009 N 19,~~836~~813,~~060~~257.1584 19,~~813~~793,~~257~~356.8479 1201/01/~~2004~~2005 11041844 N/A 09/01/2013 N 19,~~457~~429,~~332~~979.7677 19,~~429~~406,~~979~~116.7704 1201/01/~~2004~~2005 11042429 N/A 04/01/2014 N 19,500,000.00 19,500,000.00 12/01/2004 11043883 N/A 03/01/2014 N 17,000,000.00 17,000,000.00 12/01/2004 991089446 N/A 12/01/2013 N 15,~~834~~817,~~815~~915.8984 15,~~817~~803,~~915~~546.8434 1201/01/~~2004~~2005 991089458 N/A 11/01/2013 N 15,520,000.00 15,520,000.00 1201/01/~~2004~~2005 11042650 N/A 11/01/2013 N 15,~~128~~112,~~437~~403.2148 15,~~112~~098,~~403~~816.4844 1201/01/~~2004~~2005 11043068 N/A 01/01/2014 N 15,000,000.00 15,000,000.00 1201/01/~~2004~~2005 991089464 N/A 03/01/2014 N 14,~~553~~536,~~648~~794.8487 14,~~536~~522,~~794~~053.8737 1201/01/~~2004~~2005 991089454 N/A 12/01/2023 N 13,~~967~~941,~~461~~892.8908 13,~~941~~920,~~892~~362.0822 1201/01/~~2004~~2005 11043356 N/A 01/01/2014 N 13,~~176~~163,~~895~~136.5266 13,~~163~~151,~~136~~517.6603 1201/01/~~2004~~2005 11042612 N/A 01/01/2014 N 13,~~089~~071,~~220~~402.3175 13,~~071~~055,~~402~~949.7579 1201/01/~~2004~~2005 991089460 N/A 01/08/2014 N 12,~~082~~069,~~790~~767.7510 12,~~069~~058,~~767~~647.1079 12/08/2004 11042829 N/A 02/01/2009 N 11,~~926~~911,~~735~~998.0017 11,~~911~~898,~~998~~886.1725 12/01/2004 11043262 N/A 03/01/2014 N 11,~~907~~894,~~780~~809.3774 11,~~894~~883,~~809~~676.7483 1201/01/~~2004~~2005 11043916 N/A 03/01/2014 N 10,~~984~~972,~~927~~961.3392 10,~~972~~962,~~961~~691.9280 1201/01/~~2004~~2005 11041662 N/A 08/01/2013 N 9,~~807~~793,~~433~~075.7607 9,~~793~~780,~~075~~412.0700 12/01/2004 11042864 N/A 03/01/2014 N 8,~~930~~920,~~367~~585.1406 8,~~920~~912,~~585~~173.0674 12/01/2004 991089461 N/A 03/01/2014 N 8,~~683~~673,~~594~~538.4938 8,~~673~~664,~~538~~742.3870 1201/01/~~2004~~2005 991089453 N/A 04/01/2009 N 8,~~581~~570,~~454~~813.8205 8,~~570~~561,~~813~~321.0591 1201/01/~~2004~~2005 11042803 N/A 02/01/2014 N 8,~~121~~112,~~621~~172.6175 8,~~112~~103,~~172~~904.7572 1201/01/~~2004~~2005 11043647 N/A 02/01/2014 N 8,~~111~~100,~~455~~646.3283 8,~~100~~091,~~646~~326.8366 12/01/2004 11043452 N/A 01/01/2014 N 7,~~922~~913,~~133~~498.1326 7,~~913~~906,~~498~~098.2673 12/01/2004 11043422 N/A 01/01/2014 N 6,~~236~~229,~~529~~526.0788 6,~~229~~223,~~526~~469.8841 12/01/2004 11043618 N/A 01/01/2009 N 6,075,000.00 6,075,000.00 12/01/2004 11041805 N/A 03/01/2014 N 5,~~857~~851,~~755~~735.2653 5,~~851~~846,~~735~~670.5345 12/01/2004 991089465 N/A 03/01/2014 N 5,~~750~~743,~~231~~360.5196 5,~~743~~737,~~360~~297.9693 12/01/2004 991089462 N/A 03/01/2014 N 5,~~482~~475,~~287~~938.6383 5,~~475~~470,~~938~~385.8378 1201/01/~~2004~~2005 11043788 N/A 03/01/2014 N 5,~~483~~477,~~016~~099.7993 5,~~477~~472,~~099~~036.9389 1201/01/~~2004~~2005 11040026 N/A 03/01/2008 N 5,~~370~~363,~~198~~950.4283 5,~~363~~358,~~950~~530.8305 1201/01/~~2004~~2005 991089457 N/A 09/01/2013 N 5,~~324~~318,~~239~~208.3714 5,~~318~~312,~~208~~993.1417 12/01/2004 991089449 N/A 02/01/2011 N 4,~~869~~862,~~054~~972.26 4,~~862~~857,~~972~~545.2653 12/01/2004 991089459 N/A 03/01/2014 N 4,~~766~~761,~~263~~439.8030 4,~~761~~757,~~439~~402.3021 1201/01/~~2004~~2005 11043699 N/A 01/01/2009 N 4,~~676~~668,~~037~~112.5665 4,~~668~~660,~~112~~843.6506 12/01/2004 11043896 N/A 04/01/2014 N 4,~~393~~388,~~351~~363.8337 4,~~388~~384,~~363~~022.3749 1201/01/~~2004~~2005 11040405 N/A 01/01/2014 N 4,~~061~~057,~~461~~164.5779 4,~~057~~053,~~164~~519.7945 1112/01/2004 11042632 N/A 02/01/2014 N 4,~~015~~010,~~172~~914.9476 4,~~010~~007,~~914~~296.7622 1201/01/~~2004~~2005 11042836 N/A 03/01/2014 N 3,~~892~~888,~~352~~401.3726 3,~~888~~885,~~401~~091.2655 12/01/2004 991089463 N/A 03/01/2014 N 3,~~768~~764,~~576~~212.8360 3,~~764~~760,~~212~~395.6038 1201/01/~~2004~~2005 11042405 N/A 01/01/2014 N 3,~~714~~710,~~441~~482.2007 3,~~710~~707,~~482~~114.0757 12/01/2004 11038533 N/A 03/01/2014 N 3,~~474~~470,~~590~~978.2492 3,~~470~~467,~~978~~928.9204 1201/01/~~2004~~2005 11044049 N/A 03/01/2009 N 3,~~430~~426,~~310~~211.4884 3,~~426~~422,~~211~~594.8492 12/01/2004 11041565 N/A 01/01/2014 N 3,~~367~~364,~~830~~247.4748 3,~~364~~361,~~247~~201.4886 12/01/2004 11043511 N/A 02/01/2014 N 3,~~221~~218,~~720~~268.2831 3,~~218~~215,~~268~~324.3164 12/01/2004 11043655 N/A 04/01/2014 N 2,~~781~~778,~~086~~077.1553 2,~~778~~775,~~077~~498.5396 12/01/2004 11044038 N/A 04/01/2014 N 2,450,000.00 2,450,000.00 12/01/2004 11044012 N/A 03/01/2014 N 2,~~371~~367,~~657~~811.3501 2,~~367~~364,~~811~~311.0129 1201/01/~~2004~~2005 11042888 N/A 12/01/2013 N 2,~~228~~226,~~285~~037.4142 2,~~226~~224,~~037~~164.4219 12/01/2004 991089452 N/A 03/01/2014 N 1,~~984~~982,~~939~~813.5857 1,~~982~~980,~~813~~998.5787 12/01/2004 11042957 N/A 02/01/2014 N 1,~~983~~981,~~095~~023.7992 1,~~981~~979,~~023~~272.9240 12/01/2004 991042932 N/A 03/01/2014 N 1,~~780~~777,~~440~~753.5701 1,~~777~~775,~~753~~349.0124 1201/01/~~2004~~2005 11041544 N/A 01/01/2014 N 1,~~634~~632,~~422~~686.4484 1,~~632~~631,~~686~~212.8448 12/01/2004 11042897 N/A 01/01/2010 N 1,~~477~~474,~~041~~576.6151 1,~~474~~472,~~576~~322.5167 1201/01/~~2004~~2005 11042887 N/A 12/01/2013 N 1,~~460~~459,~~764~~291.8921 1,~~459~~458,~~291~~063.2120 12/01/2004 991089456 N/A 10/01/2013 N 1,~~453~~451,~~607~~544.8766 1,~~451~~449,~~544~~737.6676 12/01/2004 Totals ~~713,278,085.37~~ 712,589,889.97 711,991,579.38

Principal Prepayment Detail No Principal Prepayments this Period

Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Date # Balance # Balance # Balance 01/10/2005 0 $0.00 0 $0.00 0 $0.00 12/10/2004 0 $0.00 0 $0.00 0 $0.00 11/10/2004 1 $5,857,755.26 0 $0.00 0 $0.00 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/10/2004 0 $0.00 0 $0.00 0 $0.00 08/10/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 06/10/2004 1 $49,859,970.02 0 $0.00 0 $0.00 05/10/2004 0 $0.00 0 $0.00 0 $0.00

Distribution Foreclosure REO Modifications Date # Balance # Balance # Balance 01/10/2005 0 $0.00 0 $0.00 0 $0.00 12/10/2004 0 $0.00 0 $0.00 0 $0.00 11/10/2004 0 $0.00 0 $0.00 0 $0.00 10/12/2004 0 $0.00 0 $0.00 0 $0.00 09/10/2004 0 $0.00 0 $0.00 0 $0.00 08/10/2004 0 $0.00 0 $0.00 0 $0.00 07/12/2004 0 $0.00 0 $0.00 0 $0.00 06/10/2004 0 $0.00 0 $0.00 0 $0.00 05/10/2004 0 $0.00 0 $0.00 0 $0.00

Prepayments Rate and Maturities Distribution Curtailments Payoff Next Weighted Avg. WAM Date # Amount # Amount Coupon Remit 01/10/2005 0 $0.00 0 $0.00 5.774696% 5.695339% 104 12/10/2004 0 $0.00 0 $0.00 5.774782% 5.695425% 105 11/10/2004 0 $0.00 0 $0.00 5.774884% 5.695527% 106 10/12/2004 0 $0.00 0 $0.00 5.774969% 5.695612% 107 09/10/2004 0 $0.00 0 $0.00 5.775069% 5.695713% 108 08/10/2004 1 $54,037.02 0 $0.00 5.775147% 5.695790% 109 07/12/2004 1 $3,487,843.72 0 $0.00 5.775210% 5.695858% 110 06/10/2004 1 $0.00 0 $0.00 5.773922% 5.694792% 111 05/10/2004 1 $253,437.78 0 $0.00 5.774006% 5.694876% 112 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Delinquency Loan Detail Offering # of Paid Through Current Outstanding Status of Loan Number Document Months Date P & I P & I Mortgage Cross- Delinq. Advances Advances ** Loan (1) Reference 11041837 1 0 12/01/2004 0.00 0.00 A 991089450 2 0 12/01/2004 0.00 0.00 A 991089451 3 0 12/01/2004 0.00 0.00 A 991089448 7 0 12/01/2004 0.00 0.00 A 11042429 12 0 12/01/2004 0.00 0.00 A 11043883 13 0 12/01/2004 0.00 0.00 A 11042829 23 0 12/01/2004 0.00 0.00 A 11041662 26 0 12/01/2004 0.00 0.00 A 11042864 27 0 12/01/2004 0.00 0.00 A 11043647 31 0 12/01/2004 0.00 0.00 A 11043452 32 0 12/01/2004 0.00 0.00 A 11043422 33 0 12/01/2004 0.00 0.00 A 11043618 34 0 12/01/2004 0.00 0.00 A 11041805 35 0 12/01/2004 0.00 0.00 A 991089465 36 0 12/01/2004 0.00 0.00 A 991089457 40 0 12/01/2004 0.00 0.00 A 991089449 41 0 12/01/2004 0.00 0.00 A 11043699 43 0 12/01/2004 0.00 0.00 A 11040405 45 0 1112/01/2004 0.00 0.00 A 11042836 47 0 12/01/2004 0.00 0.00 A 11042405 49 0 12/01/2004 0.00 0.00 A 11044049 51 0 12/01/2004 0.00 0.00 A 11041565 52 0 12/01/2004 0.00 0.00 A 11043511 53 0 12/01/2004 0.00 0.00 A 11043655 54 0 12/01/2004 0.00 0.00 A 11044038 55 0 12/01/2004 0.00 0.00 A 11042888 57 0 12/01/2004 0.00 0.00 A 991089452 58 0 12/01/2004 0.00 0.00 A 11042957 59 0 12/01/2004 0.00 0.00 A 11041544 61 0 12/01/2004 0.00 0.00 A 11042887 63 0 12/01/2004 0.00 0.00 A 991089456 64 0 12/01/2004 0.00 0.00 A Totals 132 0.00 0.00

Resolution Servicing Actual Outstanding Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO Number Code (2) Date Date Balance Advances Date Date 11041837 49,565,556.60 0.00 991089450 15,557,782.43 0.00 991089451 32,998,353.83 0.00 991089448 33,701,881.59 0.00 11042429 19,500,000.00 0.00 11043883 17,000,000.00 0.00 11042829 11,911,998.17 0.00 11041662 9,793,075.07 0.00 11042864 8,920,585.06 0.00 11043647 8,100,646.83 0.00 11043452 7,913,498.26 0.00 11043422 6,229,526.88 0.00 11043618 6,075,000.00 0.00 11041805 5,851,735.53 0.00 991089465 5,743,360.96 0.00 991089457 5,318,208.14 0.00 991089449 4,862,972.26 0.00 11043699 4,668,112.65 0.00 11040405 4,~~061~~057,~~461~~164.5779 0.00 11042836 3,888,401.26 0.00 11042405 3,710,482.07 0.00 11044049 3,426,211.84 0.00 11041565 3,364,247.48 0.00 11043511 3,218,268.31 0.00 11043655 2,~~393~~778,077.6053 ~~Totals~~0.00 411044038 2,~~061~~450,~~461~~000.5700 0.00 11042888 2,~~393~~226,037.6042 0.00 991089452 1,982,813.57 0.00 11042957 1,981,023.92 0.00 11041544 1,632,686.84 0.00 11042887 1,459,291.21 0.00 991089456 1,451,544.66 0.00 Totals 291,338,545.16 0.00

Current Outstanding Actual Outstanding P & I P & I Principal Servicing Advances Advances** Balance Advances Totals By Delinquency Code: Total for Status Code = A (132 ~~loan~~loans) 0.00 0.00 4291,~~061~~338,~~461~~545.5716 ~~2,393~~0.6000 (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 · GMAC COMMERCIAL MORTGAGE PASS-THR CERTS SER 2004-C1