8-K 1 gmc04c03_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.: 333-115244-01 GMAC Commercial Mortgage Securities, Inc. Commercial Mortgage Pass-Through Securities Series 2004-C3 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-6648415 (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., Commercial Mortgage Pass-Through Securities, Series 2004-C3. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Securities, Series 2004-C3, 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. Commercial Mortgage Pass-Through Securities Series 2004-C3 (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 Commercial Mortgage Pass-Through Securities, Series 2004-C3, 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. Commercial Mortgage Pass-Through Securities Series 2004-C3 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 - 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 GMAC Commercial Mortgage Securities, Inc. 200 Witmer Road Horsham, PA 19044 Contact: Karen Repeckyj Phone Number: (215) 328-1259 Servicer GMAC Commercial Mortgage Corporation 200 Witmer Road Horsham, PA 19044-8015 Contact: Darri Cunningham Phone Number: (215) 328-1784 Special Servicer GMAC Commercial Mortgage Corporation 550 California Street, 12th Floor San Francisco, CA 94104 Contact: Henry Bieber Phone Number: (415) 835-9200 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.

~~SECURITIES~~Certificate ~~AND~~Distribution ~~EXCHANGE~~Detail ~~COMMISSION Washington,~~Class ~~D.C.~~CUSIP ~~20549~~ Pass-~~----------------------------------------------------------- FORM~~Through ~~8-K CURRENT~~Original ~~REPORT Pursuant~~Beginning toPrincipal ~~Section~~Interest 13Rate orBalance ~~15(d)~~Balance ofDistribution ~~the Securities~~Distribution ~~Exchange~~A-1 ~~Act~~361849J37 of3.106000% ~~1934~~15, ~~as amended Date of Report: November 29~~500,000.00 ~~2004 --------------------------------- (date of earliest event reported) GMAC COMMERCIAL MORTGAGE SECURITIES~~15, ~~INC~~500,000. ~~----------------------------------------- (Exact~~00 name of Registrant as Specified in Charter) Delaware 333-115244-01 23-2811925 -------- ------------- ---------- (State or Other (Commission (I574,124.~~R.S.~~02 Employer Jurisdiction of Incorporation) File Number) Identification Number) 200 Witmer Road --------------- Horsham40,119.17 ~~Pennsylvania 19044~~ A-1-~~------------------------- (Address~~A of361849J45 ~~Principal~~4.586000% ~~Executive Offices) (Zip Code) Registrant's telephone number~~351, including area code: (215) 328-3164 -------------- Not Applicable -------------- (Former Name or Former Address441, ~~if Changed Since Last Report) Items 1 through 7 are not included because they are not applicable~~000. ~~Item~~00 8351,441,000.~~01. Other~~00 ~~Events ------------------------------ Filing of Computational Materials In connection with the proposed offering of the GMAC Commercial Mortgage Securities~~145, ~~Inc~~885.22 ~~Mortgage Pass-Through Certificates, Series 2004-C3 Class A-~~1, ~~Class A-1A~~343,090.36 ~~Class~~ A-2, ~~Class~~361849J52 A-3,.950000% ~~Class-A-4~~28,700,000.00 ~~Class A-AB~~28,700,000.00 ~~Class~~0.00 ~~A-5~~94, ~~Class~~470.83 A-J,3 ~~Class~~361849J60 B,4.207000% ~~Class C~~137, ~~Class D~~900,000.00 ~~Class E~~137,900,000.00 ~~Class~~0.00 F483,454.42 ~~Class~~A-4 G,361849J78 ~~Class~~4.547000% H266, ~~Class J~~000,000.00 ~~Class K~~266, ~~Class L~~000,000.00 ~~Class~~0.00 M1, ~~Class N~~007,918.33 ~~Class~~A-AB O,361849J86 ~~Class~~4.702000% P62, ~~Class X-1~~731,000.00 ~~Class X-2~~62, ~~Class R-I~~731,000.00 ~~Class~~0.00 ~~R-II~~245,800.97 ~~and Class R~~A-~~III~~5 ~~(the~~361849J94 ~~"Certificates";~~4.864000% ~~the Class A-1~~138, ~~Class A-1A~~600,000.00 ~~Class A-2~~138,600,000.00 ~~Class~~0.00 ~~A-2~~561,792.00 ~~Class~~ A-3,J ~~Class~~361849K35 A-4,.915000% ~~Class A-AB~~82, ~~Class A-5~~885,000.00 ~~Class X-2~~82,885,000.00 ~~Class~~0.00 ~~A-J~~339,483.15 ~~Class~~ B, ~~Class~~361849K43 C4.965000% 31,277,000.00 ~~and~~31,277,000.00 ~~Class~~0.00 D129,408.59 ~~Certificates~~C ~~being~~361849K50 ~~the~~4.984000% ~~"Publicly Offered~~14,075,000.00 ~~Certificates")~~14,075,000.00 ~~the~~0.00 ~~Registrant~~58,458.17 ~~has~~D ~~been~~361849K68 ~~advised~~5.044000% by20,330,000.00 ~~Morgan~~20,330,000.00 ~~Stanley & Co~~0. ~~Incorporated~~00 85,453.77 ~~Deutsche~~E ~~Bank~~361849K84 ~~Securities~~5.142000% ~~Inc~~12,511,000.00 12,511,000.00 ~~GMAC Commercial Holding Capital Corp~~0.00 ~~and Goldman~~53,609.64 ~~Sachs~~F &361849K92 Co5.280000% ~~as underwriters (collectively~~15, ~~the "Underwriters")~~639,000.00 ~~that~~15,639,000.00 in0.00 ~~connection~~68,811.60 ~~with~~G ~~the~~361849L26 ~~sale~~5.280000% of10,947,000.00 ~~the~~10,947,000.00 ~~Publicly~~0.00 ~~Offered Certificates~~48,166.80 ~~the~~H ~~Underwriters~~361849L34 ~~have~~5.406750% ~~furnished~~20,330,000.00 to20,330,000.00 ~~prospective~~0.00 ~~investors~~91,599.36 ~~certain written~~J ~~descriptions~~361849L42 of4.724000% ~~the~~3,128,000.00 ~~securities~~3,128,000.00 to0.00 be12,313.89 ~~offered~~K ~~that~~361849L59 ~~set~~4.724000% ~~forth the name of the issuer~~6,255,000.00 ~~the size of the potential offering~~6,255,000.00 ~~the~~0.00 ~~size of the potential offering~~24,623.85 ~~the~~L ~~size~~361849L67 ~~of the offering (e~~4.g.724000% ~~the number of classes~~4,692,000.00 ~~seniority~~4, ~~interest~~692,000.00 ~~rate) and miscellaneous similar items (the "Computational Materials") with respect to the Publicly Offered Certificates following the effective date of Registration Statement No~~0.00 ~~333-115244 but prior to the availability of a final Prospectus relating to the Publicly Offered Certificates~~18,470.84 ~~The Computational~~M ~~Materials~~361849L75 ~~are being filed as an exhibit to this report~~4. ~~The~~724000% ~~Computational Materials attached hereto have been provided by the Underwriters~~4,691,000.00 The information in the Computational Materials is preliminary and may be superseded by the Prospectus Supplement relating to the Publicly Offered Certificates and by any other information subsequently filed with the Securities and Exchange Commission4,691,000. ~~-2- Item~~00 90.~~01. Financial~~00 ~~Statements~~18,466.90 ~~Pro~~N ~~Forma~~361849L83 ~~Financial~~4.724000% ~~Information~~3,128,000.00 ~~and Exhibits (a) Not applicable~~3,128,000. ~~(b)~~00 ~~Not applicable~~0. ~~(c)~~00 ~~Exhibits: 99~~12,313.~~1 Computational~~89 ~~Materials~~O ~~prepared~~361849L91 by4.724000% ~~the~~3,128,000.00 ~~Underwriters in connection with the sale of the Publicly Offered Certificates of the Registrant~~3,128,000. ~~99.2 Computational~~00 ~~Materials prepared by the Underwriters in connection with the sale of the Publicly Offered Certificates of the Registrant~~0. ~~-3- SIGNATURES Pursuant~~00 ~~to the requirements of the Securities Exchange Act of 1934~~12, ~~the~~313.89 ~~registrant~~P ~~has~~361849M25 ~~duly~~4.724000% ~~caused this report to be signed on its behalf by the undersigned hereunto duly authorized~~17,202,921. ~~GMAC~~00 ~~COMMERCIAL MORTGAGE SECURITIES~~17,202,921.00 ~~INC~~0.,00 Registrant By: /s/David Lazarus --------------------------------- Name: David Lazarus Title: Vice President Date: December 1667,722.17 ~~2004 EXHIBIT~~Q ~~INDEX Exhibit~~361849M33 No0. ~~Description~~000000% of0.00 ~~Exhibit ----------- ---------------------- 99~~0.~~1 Computational~~00 ~~Materials~~0.00 ~~prepared~~0.00 byR-I ~~the~~N/A ~~Underwriters~~0.000000% in0.00 ~~connection~~0.00 ~~with the~~0.00 ~~sale~~0.00 ofR-II ~~the~~N/A ~~Publicly~~0.000000% ~~Offered~~0.00 ~~Certificates~~0.00 of0.00 ~~the Registrant~~0. ~~99.2 Computational~~00 ~~Materials~~R-III ~~prepared~~N/A by0.000000% ~~the~~0.00 ~~Underwriters~~0.00 in0.00 ~~connection~~0.00 ~~with the~~Totals ~~sale~~1,251,090,921.00 of1,251,090,921.00 ~~the~~720,009.24 ~~Publicly Offered Certificates of the Registrant~~4,817,862. 59

Appraisal Reductions None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 5,858,498.78 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 5,858,498.78 Principal: Scheduled Principal 720,009.21 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 720,009.21 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 6,578,507.99 Total Funds Distributed Fees: Master Servicing Fee 58,713.77 Trustee Fee 2,037.65 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 60,751.42 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 160,800.81 Payments to Certificateholders & Others: Interest Distribution 5,636,946.60 Principal Distribution 720,009.24 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 6,356,955.84 Total Funds Distributed 6,578,508.07

Principal Prepayment Detail No Principal Prepayments this Period

Delinquency Loan Detail No Delinquent Loans this Period 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-Through Certificates Series 2004-C3