10-D 1 msc07t27_10d-200801.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: December 14, 2007 to January 11, 2008 Commission File Number of issuing entity: 333-143623-01 Morgan Stanley Capital I Trust 2007-TOP27 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-143623 Morgan Stanley Capital I Inc. (Exact name of depositor as specified in its charter) Wells Fargo Bank, N.A. Bear Stearns Commercial Mortgage, Inc. Principal Commercial Funding II, LLC Morgan Stanley Mortgage Capital Holdings LLC, successor-in-interest by merger to Morgan Stanley Mortgage Capital Inc. (Exact name of sponsors as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2200289 54-2200346 54-2200347 54-2200348 54-6755321 54-6755322 (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-1A ______ ______ ___X___ ___________ A-2 ______ ______ ___X___ ___________ A-3 ______ ______ ___X___ ___________ A-AB ______ ______ ___X___ ___________ A-4 ______ ______ ___X___ ___________ A-M ______ ______ ___X___ ___________ A-MFL ______ ______ ___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___ ___________ AW34 ______ ______ ___X___ ___________ R-I ______ ______ ___X___ ___________ R-II ______ ______ ___X___ ___________ R-III ______ ______ ___X___ ___________ X ______ ______ ___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 January 11, 2008 a distribution was made to holders of Morgan Stanley Capital I Trust 2007-TOP27. 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 Morgan Stanley Capital I Trust 2007-TOP27, relating to the January 11, 2008 distribution. (b) The exhibits required to be filed by the Registrant pursuant to this Form 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. Morgan Stanley Capital I Inc. (Depositor) /s/ Anthony Sfarra Anthony Sfarra, Vice President Date: January 23, 2008 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of Morgan Stanley Capital I Trust 2007-TOP27, relating to the January 11, 2008 distribution. EX-99.1 Wells Fargo Bank, N.A. Corporate Trust Services 8480 Stagecoach Circle Frederick, MD 21701-4747 Morgan Stanley Capital I Inc. Commerical Mortgage Pass-Through Certificates Series 2007-TOP27 For Additional Information, please contact CTSLink Customer Service 1-866-846-4526 Reports Available @ www.ctslink.com/cmbs Payment Date: January 11, 2008 Record Date: December 31, 2007 Determination Date: January 07, 2008 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 - 16 Mortgage Loan Detail 17 - 24 NOI Detail 25 - 31 Principal Prepayment Detail 32 Historical Detail 33 Delinquency Loan Detail 34 Specially Serviced Loan Detail 35 - 36 Advance Summary 37 Modified Loan Detail 38 Historical Liquidated Loan Detail 39 Historical Bond/Collateral Loss Reconciliation Detail 40 Interest Shortfall Reconciliation Detail 41 - 42 Supplemental Reporting 43 Depositor Morgan Stanley Capital I Inc. 1585 Broadway New York, NY 10036 Contact: General Information Number Phone Number: (212) 761-4700 Master Servicer Wells Fargo Bank, N.A. 1320 Willow Pass Road, Suite 300 investorreporting@wellsfargo.com Concord, CA 94520 Contact: Myung J. Nam Phone Number: Special Servicer Centerline Servicing, Inc. 5221 N. O'Connor Blvd., Ste. 600 Irving, TX 75039 Contact: Chris Crouch Phone Number: (972) 868-5300 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 2008, Wells Fargo Bank, N.A.

Appraisal Reduction Amount None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 13,472,365.67 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 13,472,365.67 Principal: Scheduled Principal 697,870.37 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 697,870.37 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 14,170,236.04 Total Funds Distributed Fees: Master Servicing Fee 73,877.45 Trustee Fee-LaSalle Bank, N.A. 1,256.22 Paying Agent Fee-Wells Fargo Bank, N.A. 876.98 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 76,010.65 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 13,352,878.39 Principal Distribution 697,870.37 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 43,476.59 Total Payments to Certificateholders & Others 14,094,225.35 Total Funds Distributed 14,170,236.00

Morgan Stanley Capital I Trust 2007-TOP27 10-D