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PROVIDED TO YOU REGARDING SUCH ASSETS AND WILL BE SUPERSEDED BY THE INFORMATION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