-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WCHnL2GjgN0B6Q9MyIdLnZpCvuJSVFV7cOhL+K3irBW25HJx4M3dc4mbCPl8MSCe 5gAhj8SALLOFYhmxKUr2RQ== 0000905148-03-003129.txt : 20030903 0000905148-03-003129.hdr.sgml : 20030903 20030903160603 ACCESSION NUMBER: 0000905148-03-003129 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030903 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SERIES 2003-PWR2 COMMERCIAL MORTGAGE PASS-THROUGH CERT CENTRAL INDEX KEY: 0001260428 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-86366-03 FILM NUMBER: 03879286 BUSINESS ADDRESS: STREET 1: 245 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10167 MAIL ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10179 8-K 1 efc3-1328_5426100fm8k.txt BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC. =============================================================================== 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) September 3, 2003 Bear Stearns Commercial Mortgage Securities Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 333-86366 13-3411414 - ------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 245 Park Avenue, New York, NY 10167 - ------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (212) 272-2000 ------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events and Required FD Disclosure. - ------- --------------------------------------- It is expected that during September 2003, a single series of certificates, entitled Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-PWR2 (the "Certificates"), be issued pursuant to a pooling and servicing agreement (the "Pooling and Servicing Agreement"), to be entered into by and among Bear Stearns Commercial Mortgage Securities Inc. (the "Registrant"), Prudential Asset Resources, Inc. as a Master Servicer and as 3 Times Square Special Servicer, Wells Fargo Bank, National Association as a Master Servicer, GMAC Commercial Mortgage Corporation as General Special Servicer, Wells Fargo Bank Minnesota, National Association as Certificate Administrator and as Tax Administrator, LaSalle Bank National Association as Trustee, ABN AMRO Bank N.V., as Fiscal Agent and The Prudential Insurance Company of America, as 3 Times Square Non-Pooled Noteholders. Certain classes of the Certificates (the "Underwritten Certificates") will be registered under the Registrant's registration statement on Form S-3 (no. 333-86366) and sold to Bear, Stearns & Co. Inc., ("BSCI"), Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPFS") and Wells Fargo Brokerage Services, LLC ("WFBS", and together with BSCI, and MLPFS, the "Underwriters") pursuant to an underwriting agreement (the "Underwriting Agreement") to be entered into by and between the Registrant and the Underwriters. In connection with the expected sale of the Underwritten Certificates, the Registrant has been advised that one or more of the Underwriters have furnished to prospective investors certain information attached hereto as Exhibit 99.1 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/or "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/or ABS Term Sheets attached hereto have been prepared and provided to the Registrant by one or more of the Underwriters. 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. Item 7. Financial Statements and Exhibits. - ------- --------------------------------- (a) Financial statements of businesses acquired: -------------------------------------------- Not applicable. (b) Pro forma financial information: -------------------------------- 2 Not applicable. (c) Exhibits: --------- Exhibit No. Description 99.1 Computational Materials and/or ABS Term Sheets 3 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: September 3, 2003 BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC. By: /s/ Michael A. Forastiere -------------------------- Name: Michael A. Forastiere Title: Vice President 4 EXHIBIT INDEX The following exhibits are filed herewith: Exhibit No. - ----------- 99.1 Computational Materials and/or ABS Term Sheets 5 EX-99.1 3 efc3-1328_exh991.txt COMP MATERIALS Exhibit 99.1
========================================================================================================= BSCMS 2003 - PWR2 Properties With a Tenant Occupying 50% or More of NSF. - ------------------------------------------------------------------------------------------------------------------------------- Loan Pool No. Loan No. Property Name Property Type - ------------------------------------------------------------------------------------------------------------------------------- 2 510901239 Jefferson Plaza I and II Office 4 510901280 Plaza America Office Towers III and IV Office 5 38112 North Crescent Plaza Office 7 Alexandria Portfolio Industrial 7a 37926 Virginia Manor Industrial 7b 37928 1550 Gude Industrial 7c 37927 1500 Gude Industrial 10 37365 First Union Plaza Office 14 6104935 Royal & Sun Alliance Building Office 15 6104936 Motorola Office Building Office 20 6105089 Tower Development Portfolio Various 20a 6105089 11311 White Rock Road Industrial 20c 6105089 11340 White Rock Road Industrial 20d 6105089 4510 Orange Grove Avenue Office 20e 6105089 11321 White Rock Road Industrial 20f 6105089 4378 Auburn Blvd. Office 23 37213 411 West 13th Street Office 24 37096 Leiner Health Products Building Industrial 25 37841 Garden Ridge Retail Retail 27 37495 Golden Gate Portfolio Retail 27b 37495 Golden Gate Portfolio - Circuit City- Cary Retail 27c 37495 Golden Gate Portfolio - Eckerds - 12th Street Retail 27d 37495 Golden Gate Portfolio - Eckerds - Peach & Zimmerly Retail 29 6104883 Westport Retail Retail 31 36463 WESCO 3 Industrial 31a 36463 WESCO 3 - Phoenix Brown Industrial 31b 36463 WESCO 3 - Detroit Industrial 31c 36463 WESCO 3 - Fort Myers Industrial 31d 36463 WESCO 3 - Denver Industrial 31e 36463 WESCO 3 - Indianapolis Industrial 31f 36463 WESCO 3 - Anchorage Industrial 31g 36463 WESCO 3 - Bakersfield Industrial 31h 36463 WESCO 3 - Deer Park Industrial 31i 36463 WESCO 3 - Augusta Industrial 31j 36463 WESCO 3 - Burilington Industrial 31k 36463 WESCO 3 - North Fargo Industrial 31l 36463 WESCO 3 - Billings Industrial 31m 36463 WESCO 3 - Beaumont Industrial 31n 36463 WESCO 3 - York Industrial 31o 36463 WESCO 3 - Wichita Industrial 31p 36463 WESCO 3 - Decatur Industrial 31q 36463 WESCO 3 - Coldwater Industrial 32 37292 Inland Eckerd Portfolio 2 Retail 32a 37292 Inland Eckerd Portfolio 2 - Eckerd - Rt. 51 & 88 Retail 32b 37292 Inland Eckerd Portfolio 2 - Eckerd - Monroeville & Jameson Retail 32c 37292 Inland Eckerd Portfolio 2 - Eckerd - Rt. 286 Retail 32d 37292 Inland Eckerd Portfolio 2 - Eckerd -Rt. 130 & Pleasant Valley Retail 32e 37292 Inland Eckerd Portfolio 2 - Eckerd - Old Freeport & Pillow Retail 32f 37292 Inland Eckerd Portfolio 2 - Eckerd - Rt. 22 & Cove Retail 33 36534 Central Avenue Shopping Center Retail 41 37293 Inland Eckerd Portfolio 3 Retail 41a 37293 Inland Eckerd Portfolio 3 - Eckerd - Broad & Bailey Retail 41b 37293 Inland Eckerd Portfolio 3 - Eckerd - Rt. 119 & York Retail 41c 37293 Inland Eckerd Portfolio 3 - Eckerd - Genesee and Pine Retail 41d 37293 Inland Eckerd Portfolio 3 - Eckerd - Millersport Highway Retail 41e 37293 Inland Eckerd Portfolio 3 - Eckerd - Central & Millard Fillmore Retail 46 37741 Regal Cinemas Land Portfolio Retail 46a 37741 Regal Cinemas Land Portfolio - Regal - Kennesaw Retail 46b 37741 Regal Cinemas Land Portfolio - Regal - Lynwood Retail 46c 37741 Regal Cinemas Land Portfolio - Regal - Chesapeake Retail 47 37345 Whittier Gateway Retail 50 38099 Ocean Springs Shopping Center Retail 52 37239 Kennametal Industrial 65 310901183 Albertson's - Montana Retail 66 310901184 Albertson's - Montwood Retail 67 37163 3737 Birch Street Office 72 36904 Forest City Retail Retail 74 6104968 Waterford Lakes Medical Building 2 Office 76 6104973 Elm Properties Warehouse Industrial 82 38249 Kash N Karry Retail 84 36575 125 Tremont Street Office 86 38232 2251 Rutherford Road Office 90 6105045 Walgreen's Norfolk Retail 92 620901248 ABX Distribution Building Industrial 97 410900941 Flotilla Street Industrial 98 6104827 CVS-Milton Retail 100 410901197 Remax Office Building Office - --------------------------------------------------------------------------------------------------------------------------------- Loan Pool No. Loan No. Property Sub-Type Cut-Off Date Balance Largest Tenant - --------------------------------------------------------------------------------------------------------------------------------- 2 510901239 Urban 62,939,186 GSA - National Guard 4 510901280 Suburban 42,464,449 Unisys 5 38112 Urban 39,692,392 Platinum Equity LLC 7 Flex Industrial 30,000,000 7a 37926 Flex Industrial 16,600,000 Baxter Biosciences, Inc. 7b 37928 Flex Industrial 6,800,000 Shire Laboratories 7c 37927 Flex Industrial 6,600,000 Calypte Biomedical Corp. 10 37365 Suburban 27,918,070 Duke University 14 6104935 Suburban 21,438,859 Royal Indemnity Company 15 6104936 Suburban 21,420,000 Motorola, Inc. 20 6105089 Various 16,327,500 20a 6105089 Warehouse/Office 4,117,500 Harte Hanks Shoppers, Inc. 20c 6105089 Warehouse/Office 2,520,000 Viking Ajaxx Supply Inc. 20d 6105089 Suburban 2,407,500 County of Sacramento 20e 6105089 Warehouse/Office 2,370,000 E-Filliate Corporation 20f 6105089 Suburban 937,500 Tower Development Corp. 23 37213 Urban 14,500,000 Aramis, Inc. 24 37096 Warehouse/Distribution 7,193,551 Leiner Health Products 25 37841 Free-Standing 7,043,686 Garden Ridge 27 37495 Various 11,900,000 27b 37495 Free-Standing 3,280,000 Circuit City 27c 37495 Free-Standing 1,601,450 Eckerd 27d 37495 Free-Standing 640,000 Eckerd 29 6104883 Anchored 10,000,000 The Gap, Inc. 31 36463 Warehouse/Distribution 9,705,051 31a 36463 Warehouse/Distribution 1,198,277 Wesco 31b 36463 Warehouse/Distribution 1,059,633 Wesco 31c 36463 Warehouse/Distribution 802,152 Wesco 31d 36463 Warehouse/Distribution 792,249 Wesco 31e 36463 Warehouse/Distribution 742,734 Wesco 31f 36463 Warehouse/Distribution 722,927 Wesco 31g 36463 Warehouse/Distribution 713,024 Wesco 31h 36463 Warehouse/Distribution 643,702 Wesco 31i 36463 Warehouse/Distribution 574,381 Wesco 31j 36463 Warehouse/Distribution 455,543 Wesco 31k 36463 Warehouse/Distribution 376,318 Wesco 31l 36463 Warehouse/Distribution 356,512 Wesco 31m 36463 Warehouse/Distribution 356,512 Wesco 31n 36463 Warehouse/Distribution 277,287 Wesco 31o 36463 Warehouse/Distribution 227,772 Wesco 31p 36463 Warehouse/Distribution 207,965 Wesco 31q 36463 Warehouse/Distribution 198,062 Wesco 32 37292 Anchored 9,489,960 32a 37292 Anchored 1,636,200 Eckerd 32b 37292 Anchored 1,636,200 Eckerd 32c 37292 Anchored 1,636,200 Eckerd 32d 37292 Anchored 1,636,200 Eckerd 32e 37292 Anchored 1,570,752 Eckerd 32f 37292 Anchored 1,374,408 Eckerd 33 36534 Anchored 8,700,000 Buy Buy Baby (CVS) 41 37293 Anchored 7,536,500 41a 37293 Anchored 1,777,076 Eckerd 41b 37293 Anchored 1,636,200 Eckerd 41c 37293 Anchored 1,636,200 Eckerd 41d 37293 Anchored 1,581,660 Eckerd 41e 37293 Anchored 905,364 Eckerd 46 37741 Shadow/Weak Anchored 6,903,056 46a 37741 Shadow/Weak Anchored 2,979,736 Regal - Kennesaw 46b 37741 Shadow/Weak Anchored 2,160,309 Regal - Lynwood 46c 37741 Shadow/Weak Anchored 1,763,011 Regal - Chesapeake 47 37345 Free-Standing 6,636,814 Home Depot 50 38099 Anchored 6,200,000 Winn-Dixie 52 37239 Warehouse/Distribution 5,705,544 Kennametal Inc. 65 310901183 Anchored 4,096,309 Albertson's Inc. 66 310901184 Anchored 4,096,309 Albertson's Inc. 67 37163 Urban 3,992,260 Ferruzzo & Worthe, LLP 72 36904 Anchored 3,790,146 Richfoods/Market at Tobacco 74 6104968 Medical/Office 3,658,750 Florida Physicians Medical Group 76 6104973 Warehouse/Office 3,463,593 W.E. Lahr Company 82 38249 Anchored 3,150,000 Kash N Karry 84 36575 Mixed Use 2,985,920 Jobs for Youth (office) 86 38232 Urban 2,891,287 Q-Biogene, Inc. 90 6105045 Anchored 2,497,405 Walgreen Co. 92 620901248 Warehouse 2,300,000 A.B.X., Inc., and G.S.W.C., Inc. 97 410900941 Warehouse 1,944,498 Linroz Manufacturing Co. 98 6104827 Anchored 1,617,373 REA & Derrick, Inc. (CVS/Pharmacy) 100 410901197 Suburban 1,038,660 Boulevard Brokerage Group, Inc. Total $404,883,576 38.0% of the Total Pool - ----------------------------------------------------------------------------------------------------------------------------------- Lease Expiration Date of NSF of Largest % NSF of the Largest Loan Pool No. Loan No. Largest Tenant Tenant (SF) Tenant Tenant Credit Rating - ----------------------------------------------------------------------------------------------------------------------------------- 2 510901239 9/8/2008 310,202 60.0% AAA 4 510901280 7/31/2018 280,137 59.2% BB+ / Ba1 / BBB- 5 38112 1/1/2023 71,246 58.2% NR 7 7a 37926 5/31/2012 110,412 57.5% A / A3 / A 7b 37928 4/30/2006 44,500 100.0% Ba3 7c 37927 10/21/2006 25,459 55.4% NR 10 37365 11/30/2006 147,339 62.4% AA+ 14 6104935 5/31/2013 346,434 100.0% BBB+ / Baa3 / BBB+ 15 6104936 12/31/2016 119,829 100.0% BBB 20 6105089 20a 6105089 7/31/2013 91,200 68.7% NR 20c 6105089 2/28/2008 40,500 59.2% NR 20d 6105089 5/31/2015 20,387 100.0% A1 20e 6105089 6/30/2013 51,625 83.3% NR 20f 6105089 12/31/2004 4,074 53.7% NR 23 37213 1/31/2018 52,000 100.0% A1 / A+ 24 37096 12/31/2011 140,000 100.0% B / Caa1 25 37841 9/17/2016 141,286 100.0% NR 27 37495 27b 37495 3/31/2022 27,891 100.0% NR 27c 37495 10/31/2020 10,908 100.0% BB+ / Ba3 27d 37495 3/31/2019 10,908 100.0% BB+ / Ba3 29 6104883 4/30/2011 10,521 60.9% BB+ / Ba3 / BB- 31 36463 31a 36463 2/13/2023 37,138 100.0% B+ / B3 31b 36463 2/13/2023 42,384 100.0% B+ / B3 31c 36463 2/13/2023 20,488 100.0% B+ / B3 31d 36463 2/13/2023 28,340 100.0% B+ / B3 31e 36463 2/13/2023 65,359 100.0% B+ / B3 31f 36463 2/13/2023 12,588 100.0% B+ / B3 31g 36463 2/13/2023 23,480 100.0% B+ / B3 31h 36463 2/13/2023 23,572 100.0% B+ / B3 31i 36463 2/13/2023 20,640 100.0% B+ / B3 31j 36463 2/13/2023 12,892 100.0% B+ / B3 31k 36463 2/13/2023 12,672 100.0% B+ / B3 31l 36463 2/13/2023 16,553 100.0% B+ / B3 31m 36463 2/13/2023 15,000 100.0% B+ / B3 31n 36463 2/13/2023 12,540 100.0% B+ / B3 31o 36463 2/13/2023 15,050 100.0% B+ / B3 31p 36463 2/13/2023 17,120 100.0% B+ / B3 31q 36463 2/13/2023 10,964 100.0% B+ / B3 32 37292 32a 37292 5/11/2019 10,908 100.0% BB+ / Ba3 32b 37292 11/27/2020 10,908 100.0% BB+ / Ba3 32c 37292 1/21/2019 10,908 100.0% BB+ / Ba3 32d 37292 11/27/2020 10,908 100.0% BB+ / Ba3 32e 37292 10/29/2019 10,908 100.0% BB+ / Ba3 32f 37292 6/17/2019 10,908 100.0% BB+ / Ba3 33 36534 11/30/2015 30,800 77.0% A / A2 41 37293 41a 37293 11/27/2020 12,732 100.0% BB+ / Ba3 41b 37293 11/27/2020 10,908 100.0% BB+ / Ba3 41c 37293 11/27/2020 10,908 100.0% BB+ / Ba3 41d 37293 11/27/2020 10,908 100.0% BB+ / Ba3 41e 37293 11/27/2020 10,908 100.0% BB+ / Ba3 46 37741 46a 37741 8/31/2020 779,298 100.0% BB- / B2 46b 37741 6/30/2020 217,800 100.0% BB- / B2 46c 37741 6/30/2020 608,098 100.0% BB- / B2 47 37345 1/31/2020 135,695 92.1% AA / Aa3 / AA 50 38099 9/7/2018 62,771 54.4% BB+ / Ba2 52 37239 6/15/2013 277,875 100.0% BBB / Ba1 / BBB - 65 310901183 2/28/2019 74,354 100.0% BBB / Baa1 / BBB 66 310901184 2/28/2019 76,344 100.0% BBB / Baa1 / BBB 67 37163 12/31/2015 17,370 66.7% NR 72 36904 2/28/2022 33,248 76.7% BBB / Baa3 74 6104968 11/30/2018 12,000 58.4% NR 76 6104973 6/30/2018 102,000 50.0% NR 82 38249 1/31/2021 40,143 100.0% BB+ / Ba1 84 36575 7/1/2007 11,218 73.7% NR 86 38232 7/31/2012 33,424 100.0% NR 90 6105045 9/30/2059 13,905 100.0% A+ / Aa3 92 620901248 2/29/2008 34,851 100.0% NR 97 410900941 3/31/2005 94,473 100.0% NR 98 6104827 12/31/2021 11,000 85.6% A / A2 100 410901197 2/5/2008 6,556 100.0% NR This information has been prepared solely for information purposes and is not an offer to buy or sell or solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the information, or that any future offer of securities will conform to the terms hereof. If any such offer of securities is made, it will be made pursuant to a definitive Prospectus and Prospectus Supplement, prepared by the Depositor, which will contain material information not contained herein and to which prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded in its entirety by such Prospectus and Prospectus Supplement. Any decision to invest in such securities should be made only after reviewing such Prospectus and Prospectus Supplement. Bear, Stearns & Co. Inc., Merrill Lynch, Pierce, Fenner & Smith and Wells Fargo Brokerage Services, LLC (the "Underwriters") disclaim any and all liability relating to this information, including without limitation, any express or implied representations or warranties for, statements contained in, and omissions from, this information. This information should only be considered after reading the Statement Regarding Assumptions as to Securities, Pricing Estimates, and Other Information (the "Statement"). Do not use or rely on this information if you have not received the Statement. You may obtain a copy of the Statement from your sales representative.
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