8-K

================================================================================


                       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 (Date of earliest event reported) May 10, 2005
                                                           ------

                  Citigroup Commercial Mortgage Securities Inc.

             (Exact Name of Registrant as Specified in Its Charter)


 Delaware                            333-108125                  13-3439681
- --------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission              (IRS Employer
of Incorporation)                   File Number)             Identification No.)


388 Greenwich Street, New York, New York                          10013
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices)                        (Zip Code)


Registrant's telephone number, including area code  (212) 816-6000
                                                    --------------


                                       N/A
- --------------------------------------------------------------------------------
          (Former Name or Former Address, 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:

[ ]  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))





Section 8 -- Other Events

Item 8.01. Other Events.

It is expected that during June 2005, a single series of certificates, expected
to be entitled, Citigroup Commercial Mortgage Trust 2005-C3, Commercial Mortgage
Pass-Through Certificates, Series 2005-C3 (the "Certificates"), will be issued
pursuant to a pooling and servicing agreement (the "Pooling and Servicing
Agreement"), to be entered into by and among Citigroup Commercial Mortgage
Securities Inc. (the "Registrant"), a master servicer, a special servicer and a
trustee. It is expected that certain classes of the Certificates (the
"Underwritten Certificates") will be registered under the Registrant's
registration statement on Form S-3 (no. 333-108125) and sold to one or more
underwriters (each an "Underwriter") including Citigroup Global Markets Inc.
("CGMI"), pursuant to an underwriting agreement (the "Underwriting Agreement")
to be entered into by and between the Registrant and the Underwriter(s).

     In connection with the expected sale of the Underwritten Certificates, CGMI
has advised the Registrant that it has furnished to prospective investors
certain information attached hereto as Exhibits 99.1 and 99.2 that may be
considered "Computational Materials" (as defined in the no-action letter dated
May 20, 1994 issued by the Division of Corporation Finance of the Securities and
Exchange Commission (the "Commission") to Kidder, Peabody Acceptance Corporation
I, Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset Corporation
and the no-action letter dated May 27, 1994 issued by the Division of
Corporation Finance of the Commission to the Public Securities Association) and
"ABS Term Sheets" (as defined in the no-action letter dated February 17, 1995
issued by the Division of Corporation Finance of the Commission to the Public
Securities Association).

     The Computational Materials and ABS Term Sheets attached hereto have been
prepared and provided to the Registrant by CGMI. The information in such
Computational Materials and ABS Term Sheets is preliminary and will be
superseded by the final Prospectus Supplement relating to the Underwritten
Certificates and by any other information subsequently filed with the
Commission. To the extent any Computational Materials and ABS Term Sheets
previously filed by the Registrant with respect to the Underwritten Certificates
are inconsistent with the Computational Materials and ABS Term Sheets attached
hereto, such previously filed Computational Materials and ABS Term Sheets are
superseded by the Computational Materials and ABS Term Sheets attached hereto.







Section 9 -- Financial Statements and Exhibits.

Item 9.01. Financial Statements and Exhibits.

(a)  Financial statements of businesses acquired:

     Not applicable.

(b)  Pro forma financial information:

     Not applicable.

(c)  Exhibits:

Exhibit No.    Description

99.1           Computational Materials and ABS Term Sheets prepared by Citigroup
               Global Markets Inc.

99.2           Computational Materials and ABS Term Sheets prepared by Citigroup
               Global Markets Inc.



                                   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.


Date: May 11, 2005


                                                   CITIGROUP COMMERCIAL MORTGAGE
                                                   SECURITIES INC.


                                                   By: /s/ Angela Vleck
                                                       -------------------------
                                                   Name:  Angela Vleck
                                                   Title: Managing Director




                                  EXHIBIT INDEX

     The following exhibits are filed herewith:


Exhibit No.
- -----------

99.1         Computational Materials and ABS Term Sheets prepared by Citigroup
             Global Markets Inc.

99.2         Computational Materials and ABS Term Sheets prepared by Citigroup
             Global Markets Inc.

EX-99.1

                       NOTICE TO ALL POTENTIAL INVESTORS

INFORMATION CONTAINED IN THIS MATERIAL IS CURRENT AS OF THE DATE APPEARING ON
THIS MATERIAL ONLY. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN, WHETHER REGARDING THE ASSETS BACKING ANY
SECURITIES DISCUSSED HEREIN OR OTHERWISE, SUPERSEDES ALL PRIOR INFORMATION
PROVIDED TO YOU REGARDING SUCH ASSETS AND WILL BE SUPERSEDED BY THE INFORMATION
CONTAINED IN ANY FINAL PROSPECTUS FOR ANY SECURITIES ACTUALLY SOLD TO YOU.

THIS MATERIAL IS SOLELY FOR YOUR INFORMATION AND WE ARE NOT SOLICITING ANY
ACTION BASED UPON IT. THIS MATERIAL IS NOT TO BE CONSTRUED AS AN OFFER TO SELL
OR THE SOLICITATION OF ANY OFFER TO BUY ANY SECURITY IN ANY JURISDICTION WHERE
SUCH AN OFFER OR SOLICITATION WOULD BE ILLEGAL. THIS MATERIAL IS BASED ON
INFORMATION THAT WE CONSIDER RELIABLE, BUT WE DO NOT REPRESENT THAT IT IS
ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. BY ACCEPTING THIS
MATERIAL THE RECIPIENT AGREES THAT IT WILL NOT DISTRIBUTE OR PROVIDE THE
MATERIAL TO ANY OTHER PERSON. THE INFORMATION CONTAINED IN THIS MATERIAL MAY BE
BASED ON ASSUMPTIONS REGARDING MARKET CONDITIONS AND OTHER MATTERS AS REFLECTED
THEREIN. WE MAKE NO REPRESENTATIONS REGARDING THE REASONABLENESS OF SUCH
ASSUMPTIONS OR THE LIKELIHOOD THAT ANY OF SUCH ASSUMPTIONS WILL COINCIDE WITH
ACTUAL MARKET CONDITIONS OR EVENTS, AND THIS MATERIAL SHOULD NOT BE RELIED UPON
FOR SUCH PURPOSES. EACH UNDERWRITER AND ITS AFFILIATES, OFFICERS, DIRECTORS,
PARTNERS AND EMPLOYEES, INCLUDING PERSONS INVOLVED IN THE PREPARATION OR
ISSUANCE OF THIS MATERIAL MAY, FROM TIME TO TIME, HAVE LONG OR SHORT POSITIONS
IN, AND BUY AND SELL, THE SECURITIES MENTIONED THEREIN OR DERIVATIVES THEREOF
(INCLUDING OPTIONS).

THIS MATERIAL IS FURNISHED TO YOU BY AN UNDERWRITER, AND NOT BY THE ISSUER OF
ANY PROPOSED SECURITIES BACKED BY ANY ASSETS DISCUSSED HEREIN. NO UNDERWRITER IS
ACTING AS AN AGENT FOR THE ISSUER OR ITS AFFILIATES IN CONNECTION WITH THE
PROPOSED TRANSACTION. THE ISSUER HAS NOT PREPARED OR TAKEN PART IN THE
PREPARATION OF THESE MATERIALS.



CGCMT 2005-C3 COLLATERAL TERM SHEET DATED MAY 10, 2005



                                                                                                    FREDDIE MAC FIELDS
                                                                                       ---------------------------------------------

                                                                                                 STUDIO     ONE
CONTROL       MORTGAGE                                                    PROPERTY      STUDIO   AVERAGE   BEDROOM   ONE BEDROOM
NUMBER       LOAN SELLER                  LOAN / PROPERTY NAME              TYPE        UNITS     RENT      UNITS    AVERAGE RENT
- ------------------------------------------------------------------------------------------------------------------------------------

                                EDR Portfolio I
7010711          CGM            Jefferson Commons - Univ. of Missouri   Multifamily       48  529-549; 537   36      584-635; 596
7009425          CGM            Jefferson Commons - Texas Tech          Multifamily      NAP      NAP        23      610-685; 663
                                EDR Portfolio II
7010712          CGM            Jefferson Commons - Purdue              Multifamily      NAP      NAP        66      199-681; 528
7010708          CGM            Jefferson Commons - Univ. of Ohio State Multifamily      NAP      NAP        22      705-770; 732
7010736          CGM            Jefferson Commons                       Multifamily      NAP      NAP        96      528-615; 566
7010373          CGM            Sierra Sun Apartments                   Multifamily      NAP      NAP        27      900-985; 959
7012600          CGM            Glendale Park Apartments                Multifamily      106  227-471; 429  428      227-471; 436
7013389          CGM            Governor's Point Apartments             Multifamily      NAP      NAP       144      345-875; 548
7010404          CGM            South Park Lofts                        Multifamily      NAP      NAP        28   1,550-2,550; 1,922
7009795          CGM            Arbors at Centennial Park               Multifamily      NAP      NAP       NAP          NAP
7012748          CGM            Governours Square Apartments            Multifamily      NAP      NAP        82      494-556; 527
7009645          CGM            Brookstone Apartments                   Multifamily      NAP      NAP        32      600-620; 610
7011696          CGM            Corner House Lofts                      Multifamily      NAP      NAP       NAP          NAP
7011776          CGM            Copper Run at Reserve                   Multifamily       27  496-546; 513   78      600-702; 647
7011825          CGM            Stone Creek Apartments                  Multifamily      NAP      NAP        96      570-660; 620
7012074          CGM            Villa del Rio Apartments                Multifamily      NAP      NAP        48      610-625; 615
7011238          CGM            North Bay Residences                    Multifamily       1   795-795; 795   77     675-1,595; 796
7010821          CGM            Crest Club Apartments                   Multifamily      NAP      NAP        46      395-560; 478
7012416          CGM            Gentry's Walk Apartments                Multifamily       84  328-460; 389  106      431-620; 503
7012050          CGM            Little Creek Apartments                 Multifamily      NAP      NAP       NAP          NAP
7012533          CGM            Palm Vista                              Multifamily      NAP      NAP        40      535-629; 574
7012411          CGM            Tremont Village Apartments              Multifamily      NAP      NAP        12     650-1,500; 792
7012633          CGM            Winthrop Court Apartments               Multifamily       16  525-570; 540   24      665-690; 667
7012634          CGM            Woodruff Court Apartments               Multifamily      NAP      NAP        16      785-805; 788
7012632          CGM            Brookgate Apartments                    Multifamily       18  485-485; 485   36      595-610; 595
7012635          CGM            Holly House Apartments                  Multifamily       1   475-475; 475   10      735-735; 735
IXIS13 IXIS Real Estate Capital Reno Cascade                            Mobile Home Park
IXIS14 IXIS Real Estate Capital Bent Tree Brooks                        Multifamily      NAP      NAP       136      460-790; 585
IXIS16 IXIS Real Estate Capital Bent Tree Oaks                          Multifamily      NAP      NAP       104      495-785; 598
IXIS17 IXIS Real Estate Capital Windsong                                Multifamily       55  500-840; 586  143      415-860; 579
IXIS18 IXIS Real Estate Capital Bent Tree Fountains                     Multifamily       35  450-688; 522   63     472-1,080; 593
IXIS26 IXIS Real Estate Capital Oakwood Village Apartments              Multifamily      NAP      NAP        60      420-509; 499
IXIS30 IXIS Real Estate Capital Forest Point Apartments                 Multifamily      NAP      NAP        33      350-450; 406






                                                                                              FREDDIE MAC FIELDS
                                                                          ----------------------------------------------------------

                                                                            TWO                          THREE
CONTROL        MORTGAGE                                                   BEDROOM       TWO BEDROOM     BEDROOM     THREE BEDROOM
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME            UNITS       AVERAGE RENT      UNITS       AVERAGE RENT
- ------------------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri      36         440-970; 899       40       814-1,290; 1,176
7009425           CGM            Jefferson Commons - Texas Tech             59         420-980; 814       48        660-1,296; 949
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue                 54         383-868; 740       78        297-1077; 950
7010708           CGM            Jefferson Commons - Univ. of Ohio State    32        600-1210; 1147      64        490-1555; 1371
7010736           CGM            Jefferson Commons                          48         396-960; 870       36       575-1,275; 1,179
7010373           CGM            Sierra Sun Apartments                      73       985-1,680; 1,183     50      1,250-1,450; 1,373
7012600           CGM            Glendale Park Apartments                   244        240-626; 501       32        715-1,042; 838
7013389           CGM            Governor's Point Apartments                190       320-1,120; 674      10         800-915; 880
7010404           CGM            South Park Lofts                           21      2,600-3,350; 2,931    NAP            NAP
7009795           CGM            Arbors at Centennial Park                  91       995-1,270; 1,121     49      1,075-1,270; 1,246
7012748           CGM            Governours Square Apartments               112        570-781; 662       25         748-909; 800
7009645           CGM            Brookstone Apartments                      136        695-850; 709       25         840-855; 843
7011696           CGM            Corner House Lofts                         35      1,244-1,988; 1,617    21      1,795-2,548; 2,148
7011776           CGM            Copper Run at Reserve                      87         669-881; 750       NAP            NAP
7011825           CGM            Stone Creek Apartments                     96         710-850; 767       NAP            NAP
7012074           CGM            Villa del Rio Apartments                   104        699-725; 725       16         825-865; 847
7011238           CGM            North Bay Residences                       60        740-1,050; 876      NAP            NAP
7010821           CGM            Crest Club Apartments                      146       345-1,066; 548      16         600-765; 665
7012416           CGM            Gentry's Walk Apartments                   76         555-830; 651       NAP            NAP
7012050           CGM            Little Creek Apartments                    108       425-1,100; 534      72         260-650; 628
7012533           CGM            Palm Vista                                 96         625-729; 680       NAP            NAP
7012411           CGM            Tremont Village Apartments                 28        646-1,700; 737      29         700-770; 747
7012633           CGM            Winthrop Court Apartments                  20         765-840; 787       NAP            NAP
7012634           CGM            Woodruff Court Apartments                  16         905-970; 926        4      1,055-1,055; 1,055
7012632           CGM            Brookgate Apartments                       NAP             NAP           NAP            NAP
7012635           CGM            Holly House Apartments                     11         905-940; 924       NAP            NAP
IXIS13  IXIS Real Estate Capital Reno Cascade
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                           96        420-1,205; 817      16       955-1,080; 1,038
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                             84        655-1,045; 837       8       995-1,045; 1,012
IXIS17  IXIS Real Estate Capital Windsong                                   66         400-870; 775       NAP            NAP
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                        80        575-1,150; 903       6       963-1,100; 1,029
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments                 128        465-649; 586       NAP            NAP
IXIS30  IXIS Real Estate Capital Forest Point Apartments                    47         250-800; 478       24         100-675; 565



                                                                                                FREDDIE MAC FIELDS
                                                                          -------------------------------------------------------------

                                                                            FOUR
CONTROL        MORTGAGE                                                   BEDROOM     FOUR BEDROOM         TENANT PAID       NUMBER OF
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME            UNITS      AVERAGE RENT          UTILITIES        ELEVATORS
- ---------------------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri      100    1,020-1,505; 1,369        Electric            0
7009425           CGM            Jefferson Commons - Texas Tech             113     325-1,501; 1,100         Electric            0
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue                 138     199-1,377; 1,129         Electric            0
7010708           CGM            Jefferson Commons - Univ. of Ohio State    64      1197-1796; 1594          Electric            1
7010736           CGM            Jefferson Commons                          144     398-1,620; 1433          Electric            0
7010373           CGM            Sierra Sun Apartments                      NAP           NAP         Electric, Water, Sewer     0
7012600           CGM            Glendale Park Apartments                   NAP           NAP                  None              0
7013389           CGM            Governor's Point Apartments                NAP           NAP                Electric            0
7010404           CGM            South Park Lofts                           NAP           NAP          Electric, Gas, Water      1
7009795           CGM            Arbors at Centennial Park                  NAP           NAP                Electric            0
7012748           CGM            Governours Square Apartments               NAP           NAP                Electric            0
7009645           CGM            Brookstone Apartments                      NAP           NAP                Electric            0
7011696           CGM            Corner House Lofts                         NAP           NAP                Electric            1
7011776           CGM            Copper Run at Reserve                      NAP           NAP             Electric, Gas          0
7011825           CGM            Stone Creek Apartments                     NAP           NAP                Electric            0
7012074           CGM            Villa del Rio Apartments                   NAP           NAP                Electric            0
7011238           CGM            North Bay Residences                       NAP           NAP                Electric            0
7010821           CGM            Crest Club Apartments                      NAP           NAP            Electric, Water         0
7012416           CGM            Gentry's Walk Apartments                   NAP           NAP         Electric, Water, Sewer     0
7012050           CGM            Little Creek Apartments                    NAP           NAP                Electric            0
7012533           CGM            Palm Vista                                 NAP           NAP                Electric            0
7012411           CGM            Tremont Village Apartments                 NAP           NAP         Electric, Water, Sewer     0
7012633           CGM            Winthrop Court Apartments                  NAP           NAP                Electric            0
7012634           CGM            Woodruff Court Apartments                  NAP           NAP                Electric            0
7012632           CGM            Brookgate Apartments                       NAP           NAP                Electric            0
7012635           CGM            Holly House Apartments                     NAP           NAP                Electric            0
IXIS13  IXIS Real Estate Capital Reno Cascade                                                             Electric, Gas          0
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                           NAP           NAP         Electric, Water, Sewer     0
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                             NAP           NAP         Electric, Water, Sewer     0
IXIS17  IXIS Real Estate Capital Windsong                                   NAP           NAP         Electric, Water, Sewer     0
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                        NAP           NAP         Electric, Water, Sewer     0
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments                 NAP           NAP         Electric, Water, Sewer     0
IXIS30  IXIS Real Estate Capital Forest Point Apartments                    NAP           NAP                Electric            0







                                                                                                FINANCIAL FIELDS
                                                                          ----------------------------------------------------------

                                                                                       SECOND      SECOND
                                                                            SECOND      MOST        MOST
                                                                             MOST      RECENT      RECENT      SECOND      SECOND
                                                                            RECENT      YEAR        YEAR        MOST        MOST
                                                                             YEAR     STATEMENT  STATEMENT     RECENT      RECENT
CONTROL        MORTGAGE                                                    STATEMENT  NUMBER OF    ENDING       YEAR        YEAR
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME              TYPE      MONTHS       DATE      REVENUES    EXPENSES
- ------------------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri    CY Ended       12       12/31/03     2,992,014   1,103,213
7009425           CGM            Jefferson Commons - Texas Tech           CY Ended       12       12/31/03     3,022,303   1,367,106
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue               CY Ended       12       12/31/03     3,722,127   1,616,130
7010708           CGM            Jefferson Commons - Univ. of Ohio State  CY Ended       12       12/31/03     2,688,939   1,122,710
7010736           CGM            Jefferson Commons                        CY Ended       12       12/31/03     4,107,152   1,610,077
7010373           CGM            Sierra Sun Apartments                    UAV            UAV        UAV              UAV         UAV
7012600           CGM            Glendale Park Apartments                 CY Ended       12       12/31/04     4,510,729   2,784,121
7013389           CGM            Governor's Point Apartments              CY Ended       12       12/31/03     2,348,774   1,140,085
7010404           CGM            South Park Lofts                         UAV            UAV        UAV              UAV         UAV
7009795           CGM            Arbors at Centennial Park                UAV            UAV        UAV              UAV         UAV
7012748           CGM            Governours Square Apartments             CY Ended       12       12/31/03     1,538,831     767,146
7009645           CGM            Brookstone Apartments                    CY Ended       12       12/31/03     1,497,486     613,463
7011696           CGM            Corner House Lofts                       UAV            UAV        UAV              UAV         UAV
7011776           CGM            Copper Run at Reserve                    UAV            UAV        UAV              UAV         UAV
7011825           CGM            Stone Creek Apartments                   CY Ended       12       12/31/03     1,419,384     675,622
7012074           CGM            Villa del Rio Apartments                 UAV            UAV        UAV              UAV         UAV
7011238           CGM            North Bay Residences                     UAV            UAV        UAV              UAV         UAV
7010821           CGM            Crest Club Apartments                    CY Ended       12       12/31/03     1,073,030     340,491
7012416           CGM            Gentry's Walk Apartments                 CY Ended       12       12/31/03     1,585,282     950,415
7012050           CGM            Little Creek Apartments                  CY Ended       12       12/31/03     1,037,291     507,265
7012533           CGM            Palm Vista                               CY Ended       12       12/31/03       888,805     529,787
7012411           CGM            Tremont Village Apartments               UAV            UAV        UAV              UAV         UAV
7012633           CGM            Winthrop Court Apartments                CY Ended       12       12/31/03       467,318     238,292
7012634           CGM            Woodruff Court Apartments                CY Ended       12       12/31/03       368,103     151,160
7012632           CGM            Brookgate Apartments                     CY Ended       12       12/31/03       364,389     137,396
7012635           CGM            Holly House Apartments                   CY Ended       12       12/31/03       209,814     106,417
IXIS13  IXIS Real Estate Capital Reno Cascade                             Full Year      12       12/31/03     1,561,737     786,988
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                         Full Year      12       12/31/03     1,951,398   1,105,123
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                           Full Year      12       12/31/03     1,442,557     854,756
IXIS17  IXIS Real Estate Capital Windsong                                 Full Year      12       12/31/03     1,604,496     948,735
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                      Full Year      12       12/31/03     1,526,122     818,476
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments               Full Year      12       12/31/03     1,176,116     645,205
IXIS30  IXIS Real Estate Capital Forest Point Apartments                  Full Year      12       12/31/03       584,943     229,976


                                                                                             FINANCIAL FIELDS
                                                                          ----------------------------------------------------------


                                                                                                                 MOST        MOST
                                                                                       SECOND       MOST       CURRENT      CURRENT
                                                                           SECOND       MOST       CURRENT       YEAR        YEAR
                                                                            MOST       RECENT       YEAR      STATEMENT    STATEMENT
CONTROL        MORTGAGE                                                    RECENT     YEAR NOI    STATEMENT   NUMBER OF     ENDING
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME           YEAR NOI      DSCR        TYPE        MONTHS       DATE
- ------------------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri     1,888,801    1.54     CY Ended         12       12/31/04
7009425           CGM            Jefferson Commons - Texas Tech            1,655,197    1.54     CY Ended         12       12/31/04
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue                2,105,997    1.83     CY Ended         12       12/31/04
7010708           CGM            Jefferson Commons - Univ. of Ohio State   1,566,229    1.83     CY Ended         12       12/31/04
7010736           CGM            Jefferson Commons                         2,497,075    1.70     CY Ended         12       12/31/04
7010373           CGM            Sierra Sun Apartments                           UAV     UAV     UAV             UAV          UAV
7012600           CGM            Glendale Park Apartments                  1,726,608    1.48     Trailing-12      12       01/31/05
7013389           CGM            Governor's Point Apartments               1,208,689    1.36     CY Ended         12       12/31/04
7010404           CGM            South Park Lofts                                UAV     UAV     UAV             UAV          UAV
7009795           CGM            Arbors at Centennial Park                       UAV     UAV     UAV             UAV          UAV
7012748           CGM            Governours Square Apartments                771,685    1.18     CY Ended         12       12/31/04
7009645           CGM            Brookstone Apartments                       884,023    1.29     Trailing-12      12       08/31/04
7011696           CGM            Corner House Lofts                              UAV     UAV     Annualized       2        02/28/05
7011776           CGM            Copper Run at Reserve                           UAV     UAV     Trailing-12      12       09/30/04
7011825           CGM            Stone Creek Apartments                      743,762    1.37     Annualized       11       11/30/04
7012074           CGM            Villa del Rio Apartments                        UAV     UAV     Trailing-12      12       10/31/04
7011238           CGM            North Bay Residences                            UAV     UAV     Annualized       9        09/30/04
7010821           CGM            Crest Club Apartments                       732,539    1.30     Trailing-12      12       10/31/04
7012416           CGM            Gentry's Walk Apartments                    634,867    1.53     CY Ended         12       12/31/04
7012050           CGM            Little Creek Apartments                     530,026    1.32     Annualized       7        07/31/04
7012533           CGM            Palm Vista                                  359,018    1.04     Annualized       11       11/30/04
7012411           CGM            Tremont Village Apartments                      UAV     UAV     CY Ended         12       12/31/04
7012633           CGM            Winthrop Court Apartments                   229,026    1.22     CY Ended         12       12/31/04
7012634           CGM            Woodruff Court Apartments                   216,943    1.20     CY Ended         12       12/31/04
7012632           CGM            Brookgate Apartments                        226,993    1.54     CY Ended         12       12/31/04
7012635           CGM            Holly House Apartments                      103,397    1.16     CY Ended         12       12/31/04
IXIS13  IXIS Real Estate Capital Reno Cascade                                774,749    1.19     Full Year        12       12/31/04
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                            846,275    1.43     Full Year        12       12/31/04
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                              587,801    1.22     Full Year        12       12/31/04
IXIS17  IXIS Real Estate Capital Windsong                                    655,761    1.38     Full Year        12       12/31/04
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                         707,646    1.51     Full Year        12       12/31/04
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments                  530,911    2.06     Full Year        12       12/31/04
IXIS30  IXIS Real Estate Capital Forest Point Apartments                     354,967    2.01     Full Year        12       12/31/04






                                                                                                  FINANCIAL FIELDS
                                                                          ----------------------------------------------------------

                                                                           MOST        MOST                    MOST
                                                                          CURRENT    CURRENT       MOST       CURRENT
CONTROL        MORTGAGE                                                    YEAR        YEAR       CURRENT    YEAR NOI       U/W
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME           REVENUES   EXPENSES    YEAR NOI      DSCR       REVENUES
- ------------------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri    3,173,804   1,230,783   1,943,021    1.50        3,204,135
7009425           CGM            Jefferson Commons - Texas Tech           3,077,845   1,567,952   1,509,893    1.50        3,073,868
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue               3,496,683   1,886,277   1,610,406    1.55        3,621,203
7010708           CGM            Jefferson Commons - Univ. of Ohio State  2,762,374   1,258,769   1,503,605    1.55        2,864,866
7010736           CGM            Jefferson Commons                        3,957,864   1,948,499   2,009,365    1.37        3,966,738
7010373           CGM            Sierra Sun Apartments                          UAV         UAV         UAV     UAV        1,896,775
7012600           CGM            Glendale Park Apartments                 4,534,519   2,809,795   1,724,724    1.48        4,510,694
7013389           CGM            Governor's Point Apartments              2,426,502   1,189,906   1,236,596    1.40        2,453,950
7010404           CGM            South Park Lofts                               UAV         UAV         UAV     UAV        1,409,279
7009795           CGM            Arbors at Centennial Park                      UAV         UAV         UAV     UAV        1,610,306
7012748           CGM            Governours Square Apartments             1,630,144     765,335     864,809    1.32        1,596,990
7009645           CGM            Brookstone Apartments                    1,526,341     638,383     887,958    1.30        1,563,541
7011696           CGM            Corner House Lofts                       1,148,220     171,270     976,950    1.61        1,195,518
7011776           CGM            Copper Run at Reserve                    1,013,403     455,435     557,968    0.99        1,477,585
7011825           CGM            Stone Creek Apartments                   1,416,020     692,191     723,829    1.33        1,423,512
7012074           CGM            Villa del Rio Apartments                 1,284,191     576,621     707,570    1.28        1,327,144
7011238           CGM            North Bay Residences                     1,247,658     396,739     850,919    1.60        1,249,014
7010821           CGM            Crest Club Apartments                    1,146,503     345,197     801,306    1.42        1,168,474
7012416           CGM            Gentry's Walk Apartments                 1,596,356     923,842     672,514    1.62        1,598,584
7012050           CGM            Little Creek Apartments                  1,107,192     422,627     684,565    1.70        1,147,445
7012533           CGM            Palm Vista                                 948,080     590,198     357,881    1.04        1,055,910
7012411           CGM            Tremont Village Apartments                 540,792     131,195     409,597    1.49          577,827
7012633           CGM            Winthrop Court Apartments                  498,518     238,102     260,416    1.39          477,414
7012634           CGM            Woodruff Court Apartments                  374,254     121,752     252,502    1.40          365,675
7012632           CGM            Brookgate Apartments                       360,773     120,244     240,529    1.64          355,246
7012635           CGM            Holly House Apartments                     209,711      91,312     118,399    1.33          209,807
IXIS13  IXIS Real Estate Capital Reno Cascade                             1,567,897     735,886     832,011    1.27        1,623,364
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                         1,856,761   1,057,717     799,044    1.35        1,841,343
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                           1,469,444     822,501     646,943    1.34        1,461,286
IXIS17  IXIS Real Estate Capital Windsong                                 1,588,487     943,420     645,067    1.36        1,596,850
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                      1,444,784     765,521     679,263    1.45        1,416,610
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments               1,022,004     642,406     379,598    1.47        1,062,338
IXIS30  IXIS Real Estate Capital Forest Point Apartments                    587,838     301,365     286,473    1.62          616,071


                                                                                           FINANCIAL FIELDS
                                                                          -------------------------------------------------



CONTROL        MORTGAGE                                                      U/W                                U/W NCF
NUMBER        LOAN SELLER                  LOAN / PROPERTY NAME           EXPENSES     U/W NOI     U/W NCF       DSCR
- --------------------------------------------------------------------------------------------------------------------------

                                 EDR Portfolio I
7010711           CGM            Jefferson Commons - Univ. of Missouri     1,259,948   1,944,187    1,859,687    1.48
7009425           CGM            Jefferson Commons - Texas Tech            1,609,514   1,464,354    1,372,257    1.48
                                 EDR Portfolio II
7010712           CGM            Jefferson Commons - Purdue                1,964,139   1,657,064    1,537,064    1.61
7010708           CGM            Jefferson Commons - Univ. of Ohio State   1,302,694   1,562,173    1,499,425    1.61
7010736           CGM            Jefferson Commons                         1,933,909   2,032,830    1,923,318    1.38
7010373           CGM            Sierra Sun Apartments                       667,261   1,229,514    1,192,014    1.20
7012600           CGM            Glendale Park Apartments                  2,842,058   1,668,637    1,466,137    1.43
7013389           CGM            Governor's Point Apartments               1,128,031   1,325,919    1,239,919    1.50
7010404           CGM            South Park Lofts                            312,303   1,096,975    1,084,725    1.22
7009795           CGM            Arbors at Centennial Park                   532,937   1,077,369    1,042,369    1.27
7012748           CGM            Governours Square Apartments                756,686     840,304      785,554    1.28
7009645           CGM            Brookstone Apartments                       672,640     890,901      841,686    1.30
7011696           CGM            Corner House Lofts                          456,533     738,985      724,649    1.21
7011776           CGM            Copper Run at Reserve                       626,497     851,088      803,088    1.51
7011825           CGM            Stone Creek Apartments                      715,748     707,764      656,308    1.30
7012074           CGM            Villa del Rio Apartments                    586,090     741,055      697,879    1.34
7011238           CGM            North Bay Residences                        494,024     754,990      716,764    1.42
7010821           CGM            Crest Club Apartments                       459,022     709,452      657,456    1.25
7012416           CGM            Gentry's Walk Apartments                  1,020,046     578,538      512,038    1.39
7012050           CGM            Little Creek Apartments                     526,618     620,827      571,687    1.55
7012533           CGM            Palm Vista                                  585,188     470,722      425,978    1.37
7012411           CGM            Tremont Village Apartments                  195,451     382,377      365,127    1.39
7012633           CGM            Winthrop Court Apartments                   228,354     249,060      234,060    1.33
7012634           CGM            Woodruff Court Apartments                   136,719     228,956      219,956    1.27
7012632           CGM            Brookgate Apartments                        161,050     194,195      180,695    1.32
7012635           CGM            Holly House Apartments                       93,017     116,790      111,290    1.31
IXIS13  IXIS Real Estate Capital Reno Cascade                                785,199     838,165      821,973    1.26
IXIS14  IXIS Real Estate Capital Bent Tree Brooks                          1,049,695     791,648      729,648    1.23
IXIS16  IXIS Real Estate Capital Bent Tree Oaks                              817,829     643,457      594,457    1.23
IXIS17  IXIS Real Estate Capital Windsong                                    954,528     642,322      575,596    1.21
IXIS18  IXIS Real Estate Capital Bent Tree Fountains                         769,599     647,011      601,011    1.28
IXIS26  IXIS Real Estate Capital Oakwood Village Apartments                  643,810     418,528      370,485    1.44
IXIS30  IXIS Real Estate Capital Forest Point Apartments                     327,120     288,951      262,951    1.49







CONTROL         MORTGAGE
NUMBER         LOAN SELLER               LOAN / PROPERTY NAME                                 HOLDBACK
- -------  -------------------------------------------------------------                        --------

                               EDR Portfolio I
7010711            CGM         Jefferson Commons - Univ. of Missouri
7009425            CGM         Jefferson Commons - Texas Tech
                               EDR Portfolio II
7010712            CGM         Jefferson Commons - Purdue
7010708            CGM         Jefferson Commons - Univ. of Ohio State
7010736            CGM         Jefferson Commons
7010373            CGM         Sierra Sun Apartments                   Release Conditions: (a) no Event of Default shall exist, and
                                                                       (b) (i) Full Release Conditions: The Deposit shall be
                                                                       released if and only if, at any time on or before December
                                                                       31, 2007 ("Outside Date"), the full loan amount of Seventeen
                                                                       Million Six Hundred Sixty Thousand and 00/100 Dollars
                                                                       ($17,660,000.00) results in a "Debt Service Coverage Ratio"
                                                                       of not less than 1:20:1. "Debt Service Coverage Ratio" means
                                                                       the ratio of (a) Lender's estimated net underwritable cash
                                                                       flow from the Property over a trailing six (6) month period
                                                                       (as determined by Lender and in accordance with the
                                                                       requirements of any rating agency selected by Lender in its
                                                                       sole discretion) adjusted, if necessary, to reflect the
                                                                       results of an audit of the Property cash flows, over (b) the
                                                                       sum of six (6) regularly scheduled principal and interest
                                                                       payments on the Loan); or (ii) Partial Release Conditions: A
                                                                       portion of the Deposit shall be released by Lender to
                                                                       Borrower, up to three times (provided there can only be
                                                                       three requests by Borrower for the full or partial release
                                                                       of the Deposit), on or before the Outside Date, such that
                                                                       the resulted funded portion of the Loan, after the release
                                                                       of a portion of the Deposit, has a Debt Service Coverage
                                                                       Ratio of not less than 1:20:1. ~~UNCF Calculation:~-As of
                                                                       the date of determination, Gross Potential Income will be
                                                                       determined by annualizing the current month rent roll, with
                                                                       vacant units grossed to then market rates and in-place above
                                                                       market rents marked to market. Other income based on lesser
                                                                       of T-1 or amount used at initial underwriting. A bad debt/
                                                                       vacancy/ concession factor equal to the greater of actual
                                                                       (as verified by bank statements), underwritten or market
                                                                       will be applied to Gross Potential Income (including "Other
                                                                       Income" subject to vacancy). Following the initial funding,
                                                                       Underwritten EGI to be determined based on the lesser of T-1
                                                                       and T-3 collections. ~~- Expenses will be based upon the
                                                                       greater of trailing six months (annualized), borrower's
                                                                       budget, market or initial underwritten expenses. In any
                                                                       event, a 4% management fee will be applied and a $250
                                                                       per/unit replacement and repair reserve will be applied.
                                                                       Lender reserves the right to make reasonable adjustments to
                                                                       UNCF.

7012600            CGM            Glendale Park Apartments
7013389            CGM            Governor's Point Apartments
7010404            CGM            South Park Lofts                     The lender shall disburse the entire Holdback Reserve Funds
                                                                       to Borrower upon the satisfaction of each of the following
                                                                       conditions:~~(i) No event of Default shall exist, nor shall
                                                                       any condition exist which with the giving of notice or the
                                                                       pass of time, shall constitute an Event of Default, and
                                                                       Borrower shall have provided to Lender a written certificate
                                                                       certifying matters.~~(ii) The request for disbursement must
                                                                       occur no later than three (3) years from date hereof, and
                                                                       within said thre (3) years, Borrower shall only be entitled
                                                                       to make three (3) such requests for the disbursement of the
                                                                       Holdback Reserve Funds.~~(iii) Borrower shall have provided
                                                                       evidence satisfactory to Lender that the property has
                                                                       achieved a Debt Service Coverage Ratio (as defined below) of
                                                                       at least 1.20x to 1.00x in aggregate based on the following
                                                                       definitions:~ (a) "Debt Service Coverage Ratio" means the
                                                                       ratio of Adjusted Actual Property Net Cash Flow to Adjusted
                                                                       Debt Service~ (b) "Adjusted Actual Property Net Cash Flow"
                                                                       to be calculated as sum of: [ (i) base rents and monthly
                                                                       recoveries and (ii) any other incom minus Project expenses
                                                                       allocable to such time period.~ (c) "Adjusted Debt Service"
                                                                       will be determined on a product of (i) t greater of the then
                                                                       current interest rate on the Loan, as set forth in the Note,
                                                                       and 6.50% multiplied by (ii) the outstandi principal balance
                                                                       of the loan.

7009795            CGM            Arbors at Centennial Park            Reserve released when property achieves a 1.20x DSCR at a 7%
                                                                       constant (1.27x on a the actual 6.59% constant) in
                                                                       accordance with the terms of the Holdback Reserve and
                                                                       Security Agreement executed at closing.

7012748            CGM            Governours Square Apartments
7009645            CGM            Brookstone Apartments
7011696            CGM            Corner House Lofts                   Funds released upon satisfaction of (i) EGI shall be a
                                                                       minimum of 1,267,144 (ii) DSCR at least 1.20x. Release, if
                                                                       it is to occur, must occur within three (3) years of closing
                                                                       date.

7011776            CGM            Copper Run at Reserve
7011825            CGM            Stone Creek Apartments
7012074            CGM            Villa del Rio Apartments
7011238            CGM            North Bay Residences
7010821            CGM            Crest Club Apartments
7012416            CGM            Gentry's Walk Apartments
7012050            CGM            Little Creek Apartments
7012533            CGM            Palm Vista
7012411            CGM            Tremont Village Apartments
7012633            CGM            Winthrop Court Apartments
7012634            CGM            Woodruff Court Apartments
7012632            CGM            Brookgate Apartments
7012635            CGM            Holly House Apartments
IXIS13   IXIS Real Estate Capital Reno Cascade
IXIS14   IXIS Real Estate Capital Bent Tree Brooks
IXIS16   IXIS Real Estate Capital Bent Tree Oaks
IXIS17   IXIS Real Estate Capital Windsong
IXIS18   IXIS Real Estate Capital Bent Tree Fountains
IXIS26   IXIS Real Estate Capital Oakwood Village Apartments
IXIS30   IXIS Real Estate Capital Forest Point Apartments





     

EX-99.2

                       NOTICE TO ALL POTENTIAL INVESTORS

INFORMATION CONTAINED IN THIS MATERIAL IS CURRENT AS OF THE DATE APPEARING ON
THIS MATERIAL ONLY. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN, WHETHER REGARDING THE ASSETS BACKING ANY
SECURITIES DISCUSSED HEREIN OR OTHERWISE, SUPERSEDES ALL PRIOR INFORMATION
PROVIDED TO YOU REGARDING SUCH ASSETS AND WILL BE SUPERSEDED BY THE INFORMATION
CONTAINED IN ANY FINAL PROSPECTUS FOR ANY SECURITIES ACTUALLY SOLD TO YOU.

THIS MATERIAL IS SOLELY FOR YOUR INFORMATION AND WE ARE NOT SOLICITING ANY
ACTION BASED UPON IT. THIS MATERIAL IS NOT TO BE CONSTRUED AS AN OFFER TO SELL
OR THE SOLICITATION OF ANY OFFER TO BUY ANY SECURITY IN ANY JURISDICTION WHERE
SUCH AN OFFER OR SOLICITATION WOULD BE ILLEGAL. THIS MATERIAL IS BASED ON
INFORMATION THAT WE CONSIDER RELIABLE, BUT WE DO NOT REPRESENT THAT IT IS
ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. BY ACCEPTING THIS
MATERIAL THE RECIPIENT AGREES THAT IT WILL NOT DISTRIBUTE OR PROVIDE THE
MATERIAL TO ANY OTHER PERSON. THE INFORMATION CONTAINED IN THIS MATERIAL MAY BE
BASED ON ASSUMPTIONS REGARDING MARKET CONDITIONS AND OTHER MATTERS AS REFLECTED
THEREIN. WE MAKE NO REPRESENTATIONS REGARDING THE REASONABLENESS OF SUCH
ASSUMPTIONS OR THE LIKELIHOOD THAT ANY OF SUCH ASSUMPTIONS WILL COINCIDE WITH
ACTUAL MARKET CONDITIONS OR EVENTS, AND THIS MATERIAL SHOULD NOT BE RELIED UPON
FOR SUCH PURPOSES. EACH UNDERWRITER AND ITS AFFILIATES, OFFICERS, DIRECTORS,
PARTNERS AND EMPLOYEES, INCLUDING PERSONS INVOLVED IN THE PREPARATION OR
ISSUANCE OF THIS MATERIAL MAY, FROM TIME TO TIME, HAVE LONG OR SHORT POSITIONS
IN, AND BUY AND SELL, THE SECURITIES MENTIONED THEREIN OR DERIVATIVES THEREOF
(INCLUDING OPTIONS).

THIS MATERIAL IS FURNISHED TO YOU BY AN UNDERWRITER, AND NOT BY THE ISSUER OF
ANY PROPOSED SECURITIES BACKED BY ANY ASSETS DISCUSSED HEREIN. NO UNDERWRITER IS
ACTING AS AN AGENT FOR THE ISSUER OR ITS AFFILIATES IN CONNECTION WITH THE
PROPOSED TRANSACTION. THE ISSUER HAS NOT PREPARED OR TAKEN PART IN THE
PREPARATION OF THESE MATERIALS.



CGCMT 2005-C3 COLLATERAL TERM SHEET        DATED MAY 11, 2005



CONTROL
 NUMBER              MORTGAGE LOAN SELLER                     LOAN / PROPERTY NAME               CUTOFF DATE PRINCIPAL BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------

                                                    EDR Portfolio I
7010711                      CGM                    Jefferson Commons - Univ. of Missouri                19,400,000
7009425                      CGM                    Jefferson Commons - Texas Tech                       14,500,000
                                                    EDR Portfolio II
7010712                      CGM                    Jefferson Commons - Purdue                           14,800,000
7010708                      CGM                    Jefferson Commons - Univ. of Ohio State              14,700,000
7010736                      CGM                    Jefferson Commons                                    21,600,000
7010373                      CGM                    Sierra Sun Apartments                                17,660,000
7012600                      CGM                    Glendale Park Apartments                             17,250,000
7013389                      CGM                    Governor's Point Apartments                          16,240,000
7010404                      CGM                    South Park Lofts                                     15,250,000
7009795                      CGM                    Arbors at Centennial Park                            14,000,000
7012748                      CGM                    Governours Square Apartments                         10,120,000
7009645                      CGM                    Brookstone Apartments                                 9,936,910
7011696                      CGM                    Corner House Lofts                                    9,000,000
7011776                      CGM                    Copper Run at Reserve                                 8,944,432
7011825                      CGM                    Stone Creek Apartments                                8,272,854
7012074                      CGM                    Villa del Rio Apartments                              8,105,619
7011238                      CGM                    North Bay Residences                                  7,800,000
7010821                      CGM                    Crest Club Apartments                                 6,952,135
7012416                      CGM                    Gentry's Walk Apartments                              6,425,000
7012050                      CGM                    Little Creek Apartments                               6,183,320
7012533                      CGM                    Palm Vista                                            5,000,000
7012411                      CGM                    Tremont Village Apartments                            3,952,182
7012633                      CGM                    Winthrop Court Apartments                             2,921,000
7012634                      CGM                    Woodruff Court Apartments                             2,818,000
7012632                      CGM                    Brookgate Apartments                                  2,290,000
7012635                      CGM                    Holly House Apartments                                1,386,000
IXIS13              IXIS Real Estate Capital        Reno Cascade                                         10,250,000
IXIS14              IXIS Real Estate Capital        Bent Tree Brooks                                      9,278,453
IXIS16              IXIS Real Estate Capital        Bent Tree Oaks                                        7,557,449
IXIS17              IXIS Real Estate Capital        Windsong                                              7,432,739
IXIS18              IXIS Real Estate Capital        Bent Tree Fountains                                   7,357,913
IXIS26              IXIS Real Estate Capital        Oakwood Village Apartments                            4,050,000
IXIS30              IXIS Real Estate Capital        Forest Point Apartments                               2,290,663







                                                                                                FREDDIE MAC FIELDS
                                                                                   -------------------------------------------------
                                                                                                                               ONE
CONTROL                                                                                               STUDIO     STUDIO      BEDROOM
 NUMBER   MORTGAGE LOAN SELLER                     LOAN / PROPERTY NAME               PROPERTY TYPE   UNITS   AVERAGE RENT    UNITS
- ------------------------------------------------------------------------------------------------------------------------------------

                                         EDR Portfolio I
7010711           CGM                    Jefferson Commons - Univ. of Missouri     Multifamily           48    529-549; 537      36
7009425           CGM                    Jefferson Commons - Texas Tech            Multifamily          NAP         NAP          23
                                         EDR Portfolio II
7010712           CGM                    Jefferson Commons - Purdue                Multifamily          NAP         NAP          66
7010708           CGM                    Jefferson Commons - Univ. of Ohio State   Multifamily          NAP         NAP          22
7010736           CGM                    Jefferson Commons                         Multifamily          NAP         NAP          96
7010373           CGM                    Sierra Sun Apartments                     Multifamily          NAP         NAP          27
7012600           CGM                    Glendale Park Apartments                  Multifamily          106    227-471; 429     428
7013389           CGM                    Governor's Point Apartments               Multifamily          NAP         NAP         144
7010404           CGM                    South Park Lofts                          Multifamily          NAP         NAP          28
7009795           CGM                    Arbors at Centennial Park                 Multifamily          NAP         NAP         NAP
7012748           CGM                    Governours Square Apartments              Multifamily          NAP         NAP          82
7009645           CGM                    Brookstone Apartments                     Multifamily          NAP         NAP          32
7011696           CGM                    Corner House Lofts                        Multifamily          NAP         NAP         NAP
7011776           CGM                    Copper Run at Reserve                     Multifamily           27    496-546; 513      78
7011825           CGM                    Stone Creek Apartments                    Multifamily          NAP         NAP          96
7012074           CGM                    Villa del Rio Apartments                  Multifamily          NAP         NAP          48
7011238           CGM                    North Bay Residences                      Multifamily           1     795-795; 795      77
7010821           CGM                    Crest Club Apartments                     Multifamily          NAP         NAP          46
7012416           CGM                    Gentry's Walk Apartments                  Multifamily           84    328-460; 389     106
7012050           CGM                    Little Creek Apartments                   Multifamily          NAP         NAP         NAP
7012533           CGM                    Palm Vista                                Multifamily          NAP         NAP          40
7012411           CGM                    Tremont Village Apartments                Multifamily          NAP         NAP          12
7012633           CGM                    Winthrop Court Apartments                 Multifamily           16    525-570; 540      24
7012634           CGM                    Woodruff Court Apartments                 Multifamily          NAP         NAP          16
7012632           CGM                    Brookgate Apartments                      Multifamily           18    485-485; 485      36
7012635           CGM                    Holly House Apartments                    Multifamily           1     475-475; 475      10
IXIS13   IXIS Real Estate Capital        Reno Cascade                              Mobile Home Park
IXIS14   IXIS Real Estate Capital        Bent Tree Brooks                          Multifamily          NAP         NAP         136
IXIS16   IXIS Real Estate Capital        Bent Tree Oaks                            Multifamily          NAP         NAP         104
IXIS17   IXIS Real Estate Capital        Windsong                                  Multifamily           55    500-840; 586     143
IXIS18   IXIS Real Estate Capital        Bent Tree Fountains                       Multifamily           35    450-688; 522      63
IXIS26   IXIS Real Estate Capital        Oakwood Village Apartments                Multifamily          NAP         NAP          60
IXIS30   IXIS Real Estate Capital        Forest Point Apartments                   Multifamily          NAP         NAP          33


                                                                                     FREDDIE MAC FIELDS
                                                                           ---------------------------------------------------------
                                                                                                TWO                          THREE
CONTROL                                                                      ONE BEDROOM      BEDROOM       TWO BEDROOM     BEDROOM
 NUMBER   MORTGAGE LOAN SELLER                LOAN / PROPERTY NAME           AVERAGE RENT      UNITS       AVERAGE RENT      UNITS
- ------------------------------------------------------------------------------------------------------------------------------------

                                    EDR Portfolio I
7010711           CGM               Jefferson Commons - Univ. of Missouri     584-635; 596        36        440-970; 899        40
7009425           CGM               Jefferson Commons - Texas Tech            610-685; 663        59        420-980; 814        48
                                    EDR Portfolio II
7010712           CGM               Jefferson Commons - Purdue                199-681; 528        54        383-868; 740        78
7010708           CGM               Jefferson Commons - Univ. of Ohio State   705-770; 732        16       600-1210; 1147       64
7010736           CGM               Jefferson Commons                         528-615; 566        48        396-960; 870        36
7010373           CGM               Sierra Sun Apartments                     900-985; 959        73      985-1,680; 1,183      50
7012600           CGM               Glendale Park Apartments                  227-471; 436       244        240-626; 501        32
7013389           CGM               Governor's Point Apartments               345-875; 548       190       320-1,120; 674       10
7010404           CGM               South Park Lofts                       1,550-2,550; 1,922     21     2,600-3,350; 2,931     NAP
7009795           CGM               Arbors at Centennial Park                     NAP             91      995-1,270; 1,121      49
7012748           CGM               Governours Square Apartments              494-556; 527       112        570-781; 662        25
7009645           CGM               Brookstone Apartments                     600-620; 610       136        695-850; 709        25
7011696           CGM               Corner House Lofts                            NAP             35     1,244-1,988; 1,617     21
7011776           CGM               Copper Run at Reserve                     600-702; 647        87        669-881; 750        NAP
7011825           CGM               Stone Creek Apartments                    570-660; 620        96        710-850; 767        NAP
7012074           CGM               Villa del Rio Apartments                  610-625; 615       104        699-725; 725        16
7011238           CGM               North Bay Residences                     675-1,595; 796       60       740-1,050; 876       NAP
7010821           CGM               Crest Club Apartments                     395-560; 478       146       345-1,066; 548       16
7012416           CGM               Gentry's Walk Apartments                  431-620; 503        76        555-830; 651        NAP
7012050           CGM               Little Creek Apartments                       NAP            108       425-1,100; 534       72
7012533           CGM               Palm Vista                                535-629; 574        96        625-729; 680        NAP
7012411           CGM               Tremont Village Apartments               650-1,500; 792       28       646-1,700; 737       29
7012633           CGM               Winthrop Court Apartments                 665-690; 667        20        765-840; 787        NAP
7012634           CGM               Woodruff Court Apartments                 785-805; 788        16        905-970; 926         4
7012632           CGM               Brookgate Apartments                      595-610; 595       NAP            NAP             NAP
7012635           CGM               Holly House Apartments                    735-735; 735        11        905-940; 924        NAP
IXIS13   IXIS Real Estate Capital   Reno Cascade
IXIS14   IXIS Real Estate Capital   Bent Tree Brooks                          460-790; 585        96       420-1,205; 817       16
IXIS16   IXIS Real Estate Capital   Bent Tree Oaks                            495-785; 598        84       655-1,045; 837        8
IXIS17   IXIS Real Estate Capital   Windsong                                  415-860; 579        66        400-870; 775        NAP
IXIS18   IXIS Real Estate Capital   Bent Tree Fountains                      472-1,080; 593       80       575-1,150; 903        6
IXIS26   IXIS Real Estate Capital   Oakwood Village Apartments                420-509; 499       128        465-649; 586        NAP
IXIS30   IXIS Real Estate Capital   Forest Point Apartments                   350-450; 406        47        250-800; 478        24






                                                                                           FREDDIE MAC FIELDS
                                                                             -------------------------------------------------------




                                                                                                      FOUR
CONTROL                                                                          THREE BEDROOM       BEDROOM        FOUR BEDROOM
 NUMBER   MORTGAGE LOAN SELLER               LOAN / PROPERTY NAME                 AVERAGE RENT        UNITS         AVERAGE RENT
- ------------------------------------------------------------------------------------------------------------------------------------

                                   EDR Portfolio I
7010711           CGM              Jefferson Commons - Univ. of Missouri        814-1,290; 1,176        100       1,020-1,505; 1,369
7009425           CGM              Jefferson Commons - Texas Tech                660-1,296; 949         113        325-1,501; 1,100
                                   EDR Portfolio II
7010712           CGM              Jefferson Commons - Purdue                    297-1077; 950          138        199-1,377; 1,129
7010708           CGM              Jefferson Commons - Univ. of Ohio State       490-1555; 1371          64        1197-1796; 1594
7010736           CGM              Jefferson Commons                            575-1,275; 1,179        144        398-1,620; 1433
7010373           CGM              Sierra Sun Apartments                       1,250-1,450; 1,373       NAP              NAP
7012600           CGM              Glendale Park Apartments                      715-1,042; 838         NAP              NAP
7013389           CGM              Governor's Point Apartments                    800-915; 880          NAP              NAP
7010404           CGM              South Park Lofts                                   NAP               NAP              NAP
7009795           CGM              Arbors at Centennial Park                   1,075-1,270; 1,246       NAP              NAP
7012748           CGM              Governours Square Apartments                   748-909; 800          NAP              NAP
7009645           CGM              Brookstone Apartments                          840-855; 843          NAP              NAP
7011696           CGM              Corner House Lofts                          1,795-2,548; 2,148       NAP              NAP
7011776           CGM              Copper Run at Reserve                              NAP               NAP              NAP
7011825           CGM              Stone Creek Apartments                             NAP               NAP              NAP
7012074           CGM              Villa del Rio Apartments                       825-865; 847          NAP              NAP
7011238           CGM              North Bay Residences                               NAP               NAP              NAP
7010821           CGM              Crest Club Apartments                          600-765; 665          NAP              NAP
7012416           CGM              Gentry's Walk Apartments                           NAP               NAP              NAP
7012050           CGM              Little Creek Apartments                        260-650; 628          NAP              NAP
7012533           CGM              Palm Vista                                         NAP               NAP              NAP
7012411           CGM              Tremont Village Apartments                     700-770; 747          NAP              NAP
7012633           CGM              Winthrop Court Apartments                          NAP               NAP              NAP
7012634           CGM              Woodruff Court Apartments                   1,055-1,055; 1,055       NAP              NAP
7012632           CGM              Brookgate Apartments                               NAP               NAP              NAP
7012635           CGM              Holly House Apartments                             NAP               NAP              NAP
IXIS13   IXIS Real Estate Capital  Reno Cascade
IXIS14   IXIS Real Estate Capital  Bent Tree Brooks                             955-1,080; 1,038        NAP              NAP
IXIS16   IXIS Real Estate Capital  Bent Tree Oaks                               995-1,045; 1,012        NAP              NAP
IXIS17   IXIS Real Estate Capital  Windsong                                           NAP               NAP              NAP
IXIS18   IXIS Real Estate Capital  Bent Tree Fountains                          963-1,100; 1,029        NAP              NAP
IXIS26   IXIS Real Estate Capital  Oakwood Village Apartments                         NAP               NAP              NAP
IXIS30   IXIS Real Estate Capital  Forest Point Apartments                        100-675; 565          NAP              NAP


                                                                                              FREDDIE MAC FIELDS
                                                                                    ------------------------------------

                                                                                                              NUMBER
CONTROL                                                                                                         OF
 NUMBER   MORTGAGE LOAN SELLER               LOAN / PROPERTY NAME                   TENANT PAID UTILITIES    ELEVATORS
- ------------------------------------------------------------------------------------------------------------------------

                                   EDR Portfolio I
7010711           CGM              Jefferson Commons - Univ. of Missouri                   Electric              0
7009425           CGM              Jefferson Commons - Texas Tech                          Electric              0
                                   EDR Portfolio II
7010712           CGM              Jefferson Commons - Purdue                              Electric              0
7010708           CGM              Jefferson Commons - Univ. of Ohio State                 Electric              1
7010736           CGM              Jefferson Commons                                       Electric              0
7010373           CGM              Sierra Sun Apartments                            Electric, Water, Sewer       0
7012600           CGM              Glendale Park Apartments                                  None                0
7013389           CGM              Governor's Point Apartments                             Electric              0
7010404           CGM              South Park Lofts                                  Electric, Gas, Water        1
7009795           CGM              Arbors at Centennial Park                               Electric              0
7012748           CGM              Governours Square Apartments                            Electric              0
7009645           CGM              Brookstone Apartments                                   Electric              0
7011696           CGM              Corner House Lofts                                      Electric              1
7011776           CGM              Copper Run at Reserve                                Electric, Gas            0
7011825           CGM              Stone Creek Apartments                                  Electric              0
7012074           CGM              Villa del Rio Apartments                                Electric              0
7011238           CGM              North Bay Residences                                    Electric              0
7010821           CGM              Crest Club Apartments                               Electric, Water           0
7012416           CGM              Gentry's Walk Apartments                         Electric, Water, Sewer       0
7012050           CGM              Little Creek Apartments                                 Electric              0
7012533           CGM              Palm Vista                                              Electric              0
7012411           CGM              Tremont Village Apartments                       Electric, Water, Sewer       0
7012633           CGM              Winthrop Court Apartments                               Electric              0
7012634           CGM              Woodruff Court Apartments                               Electric              0
7012632           CGM              Brookgate Apartments                                    Electric              0
7012635           CGM              Holly House Apartments                                  Electric              0
IXIS13   IXIS Real Estate Capital  Reno Cascade                                         Electric, Gas            0
IXIS14   IXIS Real Estate Capital  Bent Tree Brooks                                 Electric, Water, Sewer       0
IXIS16   IXIS Real Estate Capital  Bent Tree Oaks                                   Electric, Water, Sewer       0
IXIS17   IXIS Real Estate Capital  Windsong                                         Electric, Water, Sewer       0
IXIS18   IXIS Real Estate Capital  Bent Tree Fountains                              Electric, Water, Sewer       0
IXIS26   IXIS Real Estate Capital  Oakwood Village Apartments                       Electric, Water, Sewer       0
IXIS30   IXIS Real Estate Capital  Forest Point Apartments                                 Electric              0






                                                                                             FINANCIAL FIELDS
                                                                      --------------------------------------------------------------
                                                                                  SECOND     SECOND
                                                                        SECOND     MOST       MOST
                                                                         MOST     RECENT     RECENT    SECOND    SECOND
                                                                        RECENT     YEAR       YEAR      MOST      MOST     SECOND
                                                                         YEAR    STATEMENT  STATEMENT  RECENT    RECENT     MOST
CONTROL                                                                STATEMENT  NUMBER OF   ENDING     YEAR      YEAR     RECENT
NUMBER  MORTGAGE LOAN SELLER          LOAN / PROPERTY NAME               TYPE      MONTHS      DATE    REVENUES  EXPENSES  YEAR NOI
- -----------------------------------------------------------------------------------------------------------------------------------

                                EDR Portfolio I
7010711         CGM             Jefferson Commons - Univ. of Missouri   CY Ended     12      12/31/03  2,992,014 1,103,213 1,888,801
7009425         CGM             Jefferson Commons - Texas Tech          CY Ended     12      12/31/03  3,022,303 1,367,106 1,655,197
                                EDR Portfolio II
7010712         CGM             Jefferson Commons - Purdue              CY Ended     12      12/31/03  3,722,127 1,616,130 2,105,997
7010708         CGM             Jefferson Commons - Univ. of Ohio State CY Ended     12      12/31/03  2,688,939 1,122,710 1,566,229
7010736         CGM             Jefferson Commons                       CY Ended     12      12/31/03  4,107,152 1,610,077 2,497,075
7010373         CGM             Sierra Sun Apartments                   UAV         UAV         UAV          UAV       UAV       UAV
7012600         CGM             Glendale Park Apartments                CY Ended     12      12/31/04  4,510,729 2,784,121 1,726,608
7013389         CGM             Governor's Point Apartments             CY Ended     12      12/31/03  2,348,774 1,140,085 1,208,689
7010404         CGM             South Park Lofts                        UAV         UAV         UAV          UAV       UAV       UAV
7009795         CGM             Arbors at Centennial Park               UAV         UAV         UAV          UAV       UAV       UAV
7012748         CGM             Governours Square Apartments            CY Ended     12      12/31/03  1,538,831   767,146   771,685
7009645         CGM             Brookstone Apartments                   CY Ended     12      12/31/03  1,497,486   613,463   884,023
7011696         CGM             Corner House Lofts                      UAV         UAV         UAV          UAV       UAV       UAV
7011776         CGM             Copper Run at Reserve                   UAV         UAV         UAV          UAV       UAV       UAV
7011825         CGM             Stone Creek Apartments                  CY Ended     12      12/31/03  1,419,384   675,622   743,762
7012074         CGM             Villa del Rio Apartments                UAV         UAV         UAV          UAV       UAV       UAV
7011238         CGM             North Bay Residences                    UAV         UAV         UAV          UAV       UAV       UAV
7010821         CGM             Crest Club Apartments                   CY Ended     12      12/31/03  1,073,030   340,491   732,539
7012416         CGM             Gentry's Walk Apartments                CY Ended     12      12/31/03  1,585,282   950,415   634,867
7012050         CGM             Little Creek Apartments                 CY Ended     12      12/31/03  1,037,291   507,265   530,026
7012533         CGM             Palm Vista                              CY Ended     12      12/31/03    888,805   529,787   359,018
7012411         CGM             Tremont Village Apartments              UAV         UAV         UAV          UAV       UAV       UAV
7012633         CGM             Winthrop Court Apartments               CY Ended     12      12/31/03    467,318   238,292   229,026
7012634         CGM             Woodruff Court Apartments               CY Ended     12      12/31/03    368,103   151,160   216,943
7012632         CGM             Brookgate Apartments                    CY Ended     12      12/31/03    364,389   137,396   226,993
7012635         CGM             Holly House Apartments                  CY Ended     12      12/31/03    209,814   106,417   103,397
IXIS13 IXIS Real Estate Capital Reno Cascade                            Full Year    12      12/31/03  1,561,737   786,988   774,749
IXIS14 IXIS Real Estate Capital Bent Tree Brooks                        Full Year    12      12/31/03  1,951,398 1,105,123   846,275
IXIS16 IXIS Real Estate Capital Bent Tree Oaks                          Full Year    12      12/31/03  1,442,557   854,756   587,801
IXIS17 IXIS Real Estate Capital Windsong                                Full Year    12      12/31/03  1,604,496   948,735   655,761
IXIS18 IXIS Real Estate Capital Bent Tree Fountains                     Full Year    12      12/31/03  1,526,122   818,476   707,646
IXIS26 IXIS Real Estate Capital Oakwood Village Apartments              Full Year    12      12/31/03  1,176,116   645,205   530,911
IXIS30 IXIS Real Estate Capital Forest Point Apartments                 Full Year    12      12/31/03    584,943   229,976   354,967


                                                                                             FINANCIAL FIELDS
                                                                       -------------------------------------------------------------

                                                                        SECOND               MOST       MOST
                                                                        MOST      MOST     CURRENT    CURRENT
                                                                       RECENT   CURRENT     YEAR       YEAR       MOST       MOST
                                                                        YEAR      YEAR    STATEMENT  STATEMENT   CURRENT   CURRENT
CONTROL                                                                  NOI   STATEMENT   NUMBER OF   ENDING      YEAR      YEAR
NUMBER  MORTGAGE LOAN SELLER              LOAN / PROPERTY NAME          DSCR      TYPE      MONTHS      DATE     REVENUES  EXPENSES
- ------------------------------------------------------------------------------------------------------------------------------------

                                EDR Portfolio I
7010711         CGM             Jefferson Commons - Univ. of Missouri    1.54  CY Ended        12     12/31/04  3,173,804  1,230,783
7009425         CGM             Jefferson Commons - Texas Tech           1.54  CY Ended        12     12/31/04  3,077,845  1,567,952
                                EDR Portfolio II
7010712         CGM             Jefferson Commons - Purdue               1.83  CY Ended        12     12/31/04  3,496,683  1,886,277
7010708         CGM             Jefferson Commons - Univ. of Ohio State  1.83  CY Ended        12     12/31/04  2,762,374  1,258,769
7010736         CGM             Jefferson Commons                        1.70  CY Ended        12     12/31/04  3,957,864  1,948,499
7010373         CGM             Sierra Sun Apartments                     UAV  UAV             UAV      UAV           UAV        UAV
7012600         CGM             Glendale Park Apartments                 1.48  Trailing-12     12     01/31/05  4,534,519  2,809,795
7013389         CGM             Governor's Point Apartments              1.36  CY Ended        12     12/31/04  2,426,502  1,189,906
7010404         CGM             South Park Lofts                          UAV  UAV             UAV      UAV           UAV        UAV
7009795         CGM             Arbors at Centennial Park                 UAV  UAV             UAV      UAV           UAV        UAV
7012748         CGM             Governours Square Apartments             1.18  CY Ended        12     12/31/04  1,630,144    765,335
7009645         CGM             Brookstone Apartments                    1.29  Trailing-12     12     08/31/04  1,526,341    638,383
7011696         CGM             Corner House Lofts                        UAV  Annualized       2     02/28/05  1,148,220    171,270
7011776         CGM             Copper Run at Reserve                     UAV  Trailing-12     12     09/30/04  1,013,403    455,435
7011825         CGM             Stone Creek Apartments                   1.37  Annualized      11     11/30/04  1,416,020    692,191
7012074         CGM             Villa del Rio Apartments                  UAV  Trailing-12     12     10/31/04  1,284,191    576,621
7011238         CGM             North Bay Residences                      UAV  Annualized       9     09/30/04  1,247,658    396,739
7010821         CGM             Crest Club Apartments                    1.30  Trailing-12     12     10/31/04  1,146,503    345,197
7012416         CGM             Gentry's Walk Apartments                 1.53  CY Ended        12     12/31/04  1,596,356    923,842
7012050         CGM             Little Creek Apartments                  1.32  Annualized       7     07/31/04  1,107,192    422,627
7012533         CGM             Palm Vista                               1.04  Annualized      11     11/30/04    948,080    590,198
7012411         CGM             Tremont Village Apartments                UAV  CY Ended        12     12/31/04    540,792    131,195
7012633         CGM             Winthrop Court Apartments                1.22  CY Ended        12     12/31/04    498,518    238,102
7012634         CGM             Woodruff Court Apartments                1.20  CY Ended        12     12/31/04    374,254    121,752
7012632         CGM             Brookgate Apartments                     1.54  CY Ended        12     12/31/04    360,773    120,244
7012635         CGM             Holly House Apartments                   1.16  CY Ended        12     12/31/04    209,711     91,312
IXIS13 IXIS Real Estate Capital Reno Cascade                             1.19  Full Year       12     12/31/04  1,567,897    735,886
IXIS14 IXIS Real Estate Capital Bent Tree Brooks                         1.43  Full Year       12     12/31/04  1,856,761  1,057,717
IXIS16 IXIS Real Estate Capital Bent Tree Oaks                           1.22  Full Year       12     12/31/04  1,469,444    822,501
IXIS17 IXIS Real Estate Capital Windsong                                 1.38  Full Year       12     12/31/04  1,588,487    943,420
IXIS18 IXIS Real Estate Capital Bent Tree Fountains                      1.51  Full Year       12     12/31/04  1,444,784    765,521
IXIS26 IXIS Real Estate Capital Oakwood Village Apartments               2.06  Full Year       12     12/31/04  1,022,004    642,406
IXIS30 IXIS Real Estate Capital Forest Point Apartments                  2.01  Full Year       12     12/31/04    587,838    301,365






                                                                                               FINANCIAL FIELDS
                                                                             ----------------------------------------------------
                                                                                           MOST
                                                                                          CURRENT
                                                                               MOST         YEAR
CONTROL                                                                       CURRENT        NOI           U/W           U/W
 NUMBER   MORTGAGE LOAN SELLER               LOAN / PROPERTY NAME            YEAR NOI       DSCR        REVENUES       EXPENSES
- --------------------------------------------------------------------------------------------------------------------------------

                                   EDR Portfolio I
7010711           CGM              Jefferson Commons - Univ. of Missouri      1,943,021     1.50        3,204,135      1,259,948
7009425           CGM              Jefferson Commons - Texas Tech             1,509,893     1.50        3,073,868      1,609,514
                                   EDR Portfolio II
7010712           CGM              Jefferson Commons - Purdue                 1,610,406     1.55        3,621,203      1,964,139
7010708           CGM              Jefferson Commons - Univ. of Ohio State    1,503,605     1.55        2,864,866      1,302,694
7010736           CGM              Jefferson Commons                          2,009,365     1.37        3,966,738      1,933,909
7010373           CGM              Sierra Sun Apartments                            UAV      UAV        1,896,775        667,261
7012600           CGM              Glendale Park Apartments                   1,724,724     1.48        4,510,694      2,842,058
7013389           CGM              Governor's Point Apartments                1,236,596     1.40        2,453,950      1,128,031
7010404           CGM              South Park Lofts                                 UAV      UAV        1,409,279        312,303
7009795           CGM              Arbors at Centennial Park                        UAV      UAV        1,610,306        532,937
7012748           CGM              Governours Square Apartments                 864,809     1.32        1,596,990        756,686
7009645           CGM              Brookstone Apartments                        887,958     1.30        1,563,541        672,640
7011696           CGM              Corner House Lofts                           976,950     1.61        1,195,518        456,533
7011776           CGM              Copper Run at Reserve                        557,968     0.99        1,477,585        626,497
7011825           CGM              Stone Creek Apartments                       723,829     1.33        1,423,512        715,748
7012074           CGM              Villa del Rio Apartments                     707,570     1.28        1,327,144        586,090
7011238           CGM              North Bay Residences                         850,919     1.60        1,249,014        494,024
7010821           CGM              Crest Club Apartments                        801,306     1.42        1,168,474        459,022
7012416           CGM              Gentry's Walk Apartments                     672,514     1.62        1,598,584      1,020,046
7012050           CGM              Little Creek Apartments                      684,565     1.70        1,147,445        526,618
7012533           CGM              Palm Vista                                   357,881     1.04        1,055,910        585,188
7012411           CGM              Tremont Village Apartments                   409,597     1.49          577,827        195,451
7012633           CGM              Winthrop Court Apartments                    260,416     1.39          477,414        228,354
7012634           CGM              Woodruff Court Apartments                    252,502     1.40          365,675        136,719
7012632           CGM              Brookgate Apartments                         240,529     1.64          355,246        161,050
7012635           CGM              Holly House Apartments                       118,399     1.33          209,807         93,017
IXIS13   IXIS Real Estate Capital  Reno Cascade                                 832,011     1.27        1,623,364        785,199
IXIS14   IXIS Real Estate Capital  Bent Tree Brooks                             799,044     1.35        1,841,343      1,049,695
IXIS16   IXIS Real Estate Capital  Bent Tree Oaks                               646,943     1.34        1,461,286        817,829
IXIS17   IXIS Real Estate Capital  Windsong                                     645,067     1.36        1,596,850        954,528
IXIS18   IXIS Real Estate Capital  Bent Tree Fountains                          679,263     1.45        1,416,610        769,599
IXIS26   IXIS Real Estate Capital  Oakwood Village Apartments                   379,598     1.47        1,062,338        643,810
IXIS30   IXIS Real Estate Capital  Forest Point Apartments                      286,473     1.62          616,071        327,120


                                                                                        FINANCIAL FIELDS
                                                                             --------------------------------------



CONTROL                                                                                                  U/W NCF
 NUMBER   MORTGAGE LOAN SELLER               LOAN / PROPERTY NAME              U/W NOI       U/W NCF      DSCR
- ------------------------------------------------------------------------------------------------------------------

                                   EDR Portfolio I
7010711           CGM              Jefferson Commons - Univ. of Missouri      1,944,187     1,859,687     1.48
7009425           CGM              Jefferson Commons - Texas Tech             1,464,354     1,372,257     1.48
                                   EDR Portfolio II
7010712           CGM              Jefferson Commons - Purdue                 1,657,064     1,537,064     1.61
7010708           CGM              Jefferson Commons - Univ. of Ohio State    1,562,173     1,499,425     1.61
7010736           CGM              Jefferson Commons                          2,032,830     1,923,318     1.38
7010373           CGM              Sierra Sun Apartments                      1,229,514     1,192,014     1.20
7012600           CGM              Glendale Park Apartments                   1,668,637     1,466,137     1.43
7013389           CGM              Governor's Point Apartments                1,325,919     1,239,919     1.50
7010404           CGM              South Park Lofts                           1,096,975     1,084,725     1.22
7009795           CGM              Arbors at Centennial Park                  1,077,369     1,042,369     1.27
7012748           CGM              Governours Square Apartments                 840,304       785,554     1.28
7009645           CGM              Brookstone Apartments                        890,901       841,686     1.30
7011696           CGM              Corner House Lofts                           738,985       724,649     1.21
7011776           CGM              Copper Run at Reserve                        851,088       803,088     1.51
7011825           CGM              Stone Creek Apartments                       707,764       656,308     1.30
7012074           CGM              Villa del Rio Apartments                     741,055       697,879     1.34
7011238           CGM              North Bay Residences                         754,990       716,764     1.42
7010821           CGM              Crest Club Apartments                        709,452       657,456     1.25
7012416           CGM              Gentry's Walk Apartments                     578,538       512,038     1.39
7012050           CGM              Little Creek Apartments                      620,827       571,687     1.55
7012533           CGM              Palm Vista                                   470,722       425,978     1.37
7012411           CGM              Tremont Village Apartments                   382,377       365,127     1.39
7012633           CGM              Winthrop Court Apartments                    249,060       234,060     1.33
7012634           CGM              Woodruff Court Apartments                    228,956       219,956     1.27
7012632           CGM              Brookgate Apartments                         194,195       180,695     1.32
7012635           CGM              Holly House Apartments                       116,790       111,290     1.31
IXIS13   IXIS Real Estate Capital  Reno Cascade                                 838,165       821,973     1.26
IXIS14   IXIS Real Estate Capital  Bent Tree Brooks                             791,648       729,648     1.23
IXIS16   IXIS Real Estate Capital  Bent Tree Oaks                               643,457       594,457     1.23
IXIS17   IXIS Real Estate Capital  Windsong                                     642,322       575,596     1.21
IXIS18   IXIS Real Estate Capital  Bent Tree Fountains                          647,011       601,011     1.28
IXIS26   IXIS Real Estate Capital  Oakwood Village Apartments                   418,528       370,485     1.44
IXIS30   IXIS Real Estate Capital  Forest Point Apartments                      288,951       262,951     1.49