10-D 1 wbt06c25_10d-200607.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from: June 17, 2006 to July 17, 2006 Commission File Number of issuing entity: 333-131262-01 Wachovia Bank Commercial Mortgage Trust Series 2006-C25 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-131262 Wachovia Commercial Mortgage Securities, Inc. (Exact name of depositor as specified in its charter) Wachovia Bank, National Associaton CW Capital LLC (Exact name of sponsor as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2196959 54-2196960 54-6713943 (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 of the issuing entity) (Zip Code) (410) 884-2000 (Telephone number, including area code) Not Applicable (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Title of Section Section Section Name of Exchange Class 12(b) 12(g) 15(d) (If Section 12(b)) A-1 ______ ______ ___X___ ___________ A-2 ______ ______ ___X___ ___________ A-3 ______ ______ ___X___ ___________ A-PB1 ______ ______ ___X___ ___________ A-PB2 ______ ______ ___X___ ___________ A-4 ______ ______ ___X___ ___________ A-5 ______ ______ ___X___ ___________ A-1A ______ ______ ___X___ ___________ A-M ______ ______ ___X___ ___________ A-J ______ ______ ___X___ ___________ B ______ ______ ___X___ ___________ C ______ ______ ___X___ ___________ D ______ ______ ___X___ ___________ E ______ ______ ___X___ ___________ F ______ ______ ___X___ ___________ G ______ ______ ___X___ ___________ H ______ ______ ___X___ ___________ J ______ ______ ___X___ ___________ K ______ ______ ___X___ ___________ L ______ ______ ___X___ ___________ M ______ ______ ___X___ ___________ N ______ ______ ___X___ ___________ O ______ ______ ___X___ ___________ P ______ ______ ___X___ ___________ Q ______ ______ ___X___ ___________ S ______ ______ ___X___ ___________ Z ______ ______ ___X___ ___________ R-I ______ ______ ___X___ ___________ R-II ______ ______ ___X___ ___________ IO ______ ______ ___X___ ___________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes __X__ No ____ Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On July 17, 2006 a distribution was made to holders of Wachovia Bank Commercial Mortgage Trust Series 2006-C25. The distribution report is attached as an Exhibit to this Form 10-D, please see Item 9(b), Exhibit 99.1 for the related information. Part II - OTHER INFORMATION Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D: (99.1) Monthly report distributed to holders of Wachovia Bank Commercial Mortgage Trust Series 2006-C25, relating to the July 17, 2006 distribution. (b) The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index that immediately follows the signature page hereof. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Wachovia Commercial Mortgage Securities, Inc. (Depositor) /s/ Charles L. Culbreth Charles L. Culbreth, Managing Director Date: July 31, 2006 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of Wachovia Bank Commercial Mortgage Trust Series 2006-C25, relating to the July 17, 2006 distribution. EX-99.1 Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Wachovia Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2006-C25 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: July 17, 2006 Record Date: June 30, 2006 Determination Date: July 11, 2006 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 - 6 Cash Reconciliation 7 Ratings Detail 8 Current Mortgage Loan and Property Stratification Tables 9 - 18 Mortgage Loan Detail 19 - 23 NOI Detail 24 - 28 Principal Prepayment Detail 29 Historical Detail 30 - 29 Delinquency Loan Detail 30 - 31 Specially Serviced Loan Detail 32 - 33 Modified Loan Detail 34 Historical Liquidated Loan Detail 35 Historical Bond/Collateral Loss Reconciliation Detail 36 Interest Shortfall Reconciliation Detail 37 - 38 Supplemental Reporting 39 Depositor Wachovia Commercial Mortgage Securities, Inc. 301 South College Street Charlotte, NC 28288-1016 Contact: Tim Steward Phone Number: (704) 593-7822 Master Servicer Wachovia Bank, National Association 8739 Research Drive URP 4, NC1075 Charlotte, NC 28262 Contact: Timothy S. Ryan Phone Number: (704) 593-7878 Special Servicer CWCapital Asset Management LLC. 1919 Pennsylvania Avenue, NW Suite 400 Washington, DC 20006-3434 Contact: Kathleen Olin Phone Number: (202) 973-6375 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 2006, Wells Fargo Bank, N.A.

Appraisal Reduction Amount None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 13,831,026.36 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 13,831,026.36 Principal: Scheduled Principal 572,279.78 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 572,279.78 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 14,403,306.14 Total Funds Distributed Fees: Master Servicing Fee 54,988.81 Trustee Fee 1,669.45 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 56,658.26 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 13,774,367.38 Principal Distribution 572,279.78 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 14,346,647.16 Total Funds Distributed 14,403,305.42

Wachovia Bank Commercial Mortgage Trust Series 2006-C25 10-D