ANNEX C

The depositor has filed a registration statement (including a prospectus) with
the SEC (SEC File No. 333-130408) for the offering to which this communication
relates. Before you invest, you should read the prospectus in that registration
statement and other documents the depositor has filed with the SEC for more
complete information about the depositor, the issuing entity and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you
request it by calling toll free 866-500-5408.

[LOGO] MERRILL LYNCH                                [LOGO] COUNTRY WIDE]
                                                   ----------------------
                                                   SECURITIES CORPORATION
                                           A Countrywide Capital Markets Company

KEYBANK                         [LOGO] IXIS                              [LOGO]
  [LOGO]                               Capital Markets                   WELLS
                                                                         FARGO


                PRELIMINARY STRUCTURAL AND COLLATERAL TERM SHEET
                         $4,107,828,000 (APPROXIMATE)


          COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
      CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-SB, CLASS A-4, CLASS A-1A,
                 CLASS AM, CLASS AJ, CLASS B, CLASS C, CLASS D
--------------------------------------------------------------------------------

                    ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5
                                Issuing Entity

                    MERRILL LYNCH MORTGAGE INVESTORS, INC.
                                   Depositor

                      MERRILL LYNCH MORTGAGE LENDING, INC.
                COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE, INC.
                          KEYBANK NATIONAL ASSOCIATION
                         IXIS REAL ESTATE CAPITAL INC.
                        Mortgage Loan Sellers & Sponsors

                     WELLS FARGO BANK, NATIONAL ASSOCIATION
                              Mortgage Loan Seller

                   KEYCORP REAL ESTATE CAPITAL MARKETS, INC.
                    WELLS FARGO BANK, NATIONAL ASSOCIATION
                               Master Servicers

                        CWCAPITAL ASSET MANAGEMENT LLC
                               Special Servicer

                       LASALLE BANK NATIONAL ASSOCIATION
                             Trustee and Custodian

                     WELLS FARGO BANK, NATIONAL ASSOCIATION
                           Certificate Administrator


                               FEBRUARY 26, 2007


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

          NOTICE RELATING TO AUTOMATICALLY GENERATED E-MAIL DISCLAIMERS

Any legends, disclaimers or other notices or language that may appear in the
text of, at the bottom of, or attached to, an email communication to which this
material may have been attached are not applicable to these materials and
should be disregarded. Such legends, disclaimers or other notices have been
automatically generated as a result of these materials having been sent via
Bloomberg or another e-mail system.


MERRILL LYNCH & CO.                           COUNTRYWIDE SECURITIES CORPORATION
IXIS SECURITIES NORTH AMERICA                           BEAR, STEARNS & CO. INC.
KEYBANC CAPITAL MARKETS                           BANC OF AMERICA SECURITIES LLC



                      [THIS PAGE INTENTIONALLY LEFT BLANK.]




ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

STRUCTURAL OVERVIEW
--------------------------------------------------------------------------------

OFFERED CERTIFICATES




                                       INITIAL        APPROX.     APPROX.
                                     CERTIFICATE       TOTAL     PERCENTAGE     WEIGHTED
            EXPECTED RATINGS      PRINCIPAL BALANCE   INITIAL    OF INITIAL     AVERAGE      PRINCIPAL    ASSUMED FINAL
          ---------------------      OR NOTIONAL      CREDIT      MORTGAGE        LIFE        WINDOW      DISTRIBUTION     RATE
 CLASS    FITCH   MOODY'S   S&P       AMOUNT(1)       SUPPORT   POOL BALANCE   (YEARS)(2)   (MONTHS)(2)      DATE(2)      TYPE(3)
---------------------------------------------------------------------------------------------------------------------------------

  A-1      AAA      Aaa     AAA    $    87,368,000    30.000%       1.978%        2.76           1-57      12/12/2011       (3)
---------------------------------------------------------------------------------------------------------------------------------
  A-2      AAA      Aaa     AAA   [$  123,315,000]    30.000%     [2.792]%        4.87          57-60       3/12/2012       (3)
---------------------------------------------------------------------------------------------------------------------------------
  A-3      AAA      Aaa     AAA   [$  153,428,000]    30.000%     [3.474]%        7.61         81-112       7/12/2016       (3)
---------------------------------------------------------------------------------------------------------------------------------
  A-SB     AAA      Aaa     AAA    $   187,053,000    30.000%       4.235%        7.39         60-115      10/12/2016       (3)
---------------------------------------------------------------------------------------------------------------------------------
  A-4      AAA      Aaa     AAA   [$1,335,152,000]    30.000%    [30.227]%        9.76        115-118       1/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
  A-1A     AAA      Aaa     AAA    $ 1,205,597,000    30.000%      27.294%        9.35          1-118       1/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
   AM      AAA      Aaa     AAA   [$  441,702,000]    20.000%    [10.000]%        9.83        118-118       1/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
   AJ      AAA      Aaa     AAA   [$  386,490,000]    11.250%     [8.750]%        9.91        118-119       2/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
   B        AA      Aa2      AA    $    77,297,000     9.500%       1.750%        9.91        119-119       2/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
   C       AA-      Aa3     AA-    $    33,128,000     8.750%       0.750%        9.91        119-119       2/12/2017       (3)
---------------------------------------------------------------------------------------------------------------------------------
   D        A        A2      A     $    77,298,000     7.000%       1.750%        9.91        119-119       2/12/2017       (3)



NON-OFFERED CERTIFICATES(5)




                                     INITIAL        APPROX.     APPROX.
                                   CERTIFICATE       TOTAL     PERCENTAGE     WEIGHTED
            EXPECTED RATINGS    PRINCIPAL BALANCE   INITIAL    OF INITIAL     AVERAGE      PRINCIPAL    ASSUMED FINAL
          --------------------     OR NOTIONAL      CREDIT      MORTGAGE        LIFE        WINDOW      DISTRIBUTION        RATE
 CLASS    FITCH  MOODY'S  S&P       AMOUNT(1)       SUPPORT   POOL BALANCE   (YEARS)(2)   (MONTHS)(2)      DATE(2)        TYPE(3)
------------------------------------------------------------------------------------------------------------------------------------

 A-2FL     AAA     Aaa    AAA             [     ]   30.000%     [     ]%        4.87         57-60        3/12/2012     LIBOR + %(3)
------------------------------------------------------------------------------------------------------------------------------------
 A-3FL     AAA     Aaa    AAA             [     ]   30.000%     [     ]%        7.61        81-112        7/12/2016     LIBOR + %(3)
------------------------------------------------------------------------------------------------------------------------------------
 A-4FL     AAA     Aaa    AAA             [     ]   30.000%     [     ]%        9.76        115-118       1/12/2017     LIBOR + %(3)
------------------------------------------------------------------------------------------------------------------------------------
 AM-FL     AAA     Aaa    AAA             [     ]   20.000%     [     ]%        9.83        118-118       1/12/2017     LIBOR + %(3)
------------------------------------------------------------------------------------------------------------------------------------
 AJ-FL     AAA     Aaa    AAA             [     ]   11.250%     [     ]%        9.91        118-119       2/12/2017     LIBOR + %(3)
------------------------------------------------------------------------------------------------------------------------------------
   E       A-      A3     A-     $     38,649,000    6.125%      0.875%         9.91        119-119       2/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   F      BBB+    Baa1    BBB+   $     55,213,000    4.875%      1.250%         9.91        119-119       2/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   G       BBB    Baa2    BBB    $     49,691,000    3.750%      1.125%         9.93        119-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   H      BBB-    Baa3    BBB-   $     49,692,000    2.625%      1.125%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   J       BB+     NR     BB+    $     16,563,000    2.250%      0.375%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   K       BB      NR     BB     $     11,043,000    2.000%      0.250%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   L       BB-     NR     BB-    $     11,043,000    1.750%      0.250%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   M       NR      B1     B+     $     11,042,000    1.500%      0.250%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   N        B      NR      B     $      5,521,000    1.375%      0.125%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   P       NR      B3     B-     $     11,043,000    1.125%      0.250%         9.99        120-120       3/12/2017         (3)
------------------------------------------------------------------------------------------------------------------------------------
   Q       NR      NR     NR     $     49,691,866    0.000%      1.125%        10.21        120-178       1/12/2022         (3)
------------------------------------------------------------------------------------------------------------------------------------
   X       AAA     Aaa    AAA    $ 4,417,019,8664       N/A       N/A           N/A           N/A         1/12/2022         (4)



(1)   In the case of each such class, subject to a permitted variance of plus or
      minus 5.0%.

(2)   As of the cut-off date. The weighted average life, principal window and
      assumed final distribution date were calculated assuming no prepayments
      will be made on the mortgage loans prior to their related maturity dates
      (except in the case of loans with anticipated repayment dates (ARD loans),
      which are assumed to prepay on their anticipated repayment dates) and the
      other Modeling Assumptions that will be described in the prospectus
      supplement.

(3)   The pass-through rates on the class A-1, A-2, A-3, A-SB, A-4, A-1A, AM,
      AJ, B, C, D, E, F, G, H, J, K, L, M, N, P and Q certificates will equal
      any one of (i) a fixed rate, (ii) the weighted average of certain net
      mortgage rates on the mortgage loans (in each case adjusted, if necessary,
      to accrue on the basis of a 360-day year consisting of twelve 30-day
      months), (iii) a rate equal to the lesser of a specified pass-through rate
      and the weighted average of certain net mortgage rates on the mortgage
      loans (in each case adjusted, if necessary , to accrue on the basis of a
      360-day year consisting of twelve 30-day months) and (iv) the weighted
      average of certain net mortgage rates on the mortgage loans (in each case
      adjusted, if necessary, to accrue on the basis of a 360-day year
      consisting of twelve 30-day months) less a specified percentage. By virtue
      of some interest rate swap agreements, the pass-through rate for the class
      A-2FL, A-3FL, A-4FL, AM-FL, AJ-FL certificates will be based on one month
      LIBOR plus a specified percentage; provided that interest payments made
      under the related swap agreement are subject to reduction as described in
      the prospectus supplement (thereby resulting in an effective pass-through
      rate below LIBOR plus a specified percentage). The initial LIBOR rate will
      be determined prior to closing and subsequent LIBOR rates will be
      determined two LIBOR business days before the start of each class A-2FL,
      A-3FL, A-4FL, AM-FL and AJ-FL interest accrual period. Under circumstances
      described in the prospectus supplement, the pass-through rate for class
      A-2FL, A-3FL, A-4FL, AM-FL and AJ-FL certificates may convert to a rate
      described herein in clause (i), (ii) or (iii) of the first sentence of
      this footnote (3). None of the holders of offered certificates will have
      any beneficial interest in any swap agreement.

(4)   The class X certificates will not have a certificate principal balance and
      their holders will not receive distributions of principal, but such
      holders will be entitled to receive payments of the aggregate interest
      accrued on the notional amount of each of the components of the class X
      certificates, as described in the prospectus supplement. The interest rate
      applicable to the class X certificates for each distribution date will
      equal the rate specified in the prospectus supplement.

(5)   Not offered pursuant to the prospectus supplement. Any information
      provided herein regarding the characteristics of these classes of
      certificates is provided only to enhance your understanding of the offered
      certificates.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        1



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



TRANSACTION TERMS
------------------------------------------------------------------------------------------------------------------------

ISSUE TYPE            Sequential pay REMIC. Class A-1, Class A-2, Class A-3, Class A-SB, Class A-4, Class A-1A, Class
                      AM, Class AJ, Class B, Class C and Class D certificates are offered publicly. All other
                      certificates will be privately placed with qualified institutional buyers, institutional
                      accredited investors or non-U.S. persons in accordance with Regulation S.

CUT-OFF DATE          References in this term sheet to the "cut-off date" mean, with respect to each mortgage loan, the
                      related due date of that mortgage loan in March 2007 or, with respect to those mortgage loans, if
                      any, that have their respective first payment dates in April 2007, March 1, 2007.

OFFERING TERMS        The commercial mortgage backed securities referred to in this term sheet, and the mortgage pool
                      backing them, are subject to modification or revision (including the possibility that one or more
                      classes of securities may be split, combined or eliminated at any time prior to issuance or
                      availability of a final prospectus) and are offered on a "when, as and if issued" basis. You
                      understand that, when you are considering the purchase of these securities, a contract of sale
                      will come into being no sooner than the date on which the relevant class has been priced and we
                      have confirmed the allocation of securities to be made to you. Any "indications of interest"
                      expressed by you, and any "soft circles" generated by us, will not create binding contractual
                      obligations for you or us.


MORTGAGE POOL         The mortgage pool consists of 333 mortgage loans with an aggregate initial mortgage pool balance
                      of $4,417,019,866, subject to a variance of plus or minus 5.0%. The mortgage loans are secured by
                      570 mortgaged real properties located throughout 42 states and the District of Columbia.

LOAN GROUPS           For purposes of making distributions to the class A-1, A-2, A-2FL, A-3, A-3FL, A-SB, A-4, A-4FL
                      and A-1A certificates, the pool of mortgage loans will be deemed to consist of two distinct
                      groups, loan group 1 and loan group 2. Loan group 1 will consist of 259 mortgage loans,
                      representing approximately 72.7% of the initial mortgage pool balance and that are secured by the
                      various property types that make up the collateral for those mortgage loans, and loan group 2 will
                      consist of 74 mortgage loans, representing approximately 27.3% of the initial mortgage pool
                      balance and that are secured by multifamily and manufactured housing community properties
                      (approximately 99.0% of all the mortgaged properties secured by multifamily and manufactured
                      housing community properties).


ISSUING ENTITY        ML-CFC Commercial Mortgage Trust 2007-5

DEPOSITOR             Merrill Lynch Mortgage Investors, Inc.


MORTGAGE LOAN         Merrill Lynch Mortgage Lending, Inc. (MLML)............ 39.3% of the initial mortgage pool balance
SELLERS/SPONSORS      Countrywide Commercial Real Estate Finance, Inc. (CRF). 31.4% of the initial mortgage pool balance
                      KeyBank National Association (KEY)..................... 12.7% of the initial mortgage pool balance
                      IXIS Real Estate Capital Inc. (IXIS)................... 9.1% of the initial mortgage pool balance


MORTGAGE LOAN         Wells Fargo Bank, National Association (WFB)........... 7.5% of the initial mortgage pool balance
SELLER



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        2



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



UNDERWRITERS          Merrill Lynch, Pierce, Fenner & Smith Incorporated
                      Countrywide Securities Corporation
                      IXIS Securities North America Inc.
                      KeyBanc Capital Markets, a Division of McDonald Investments Inc.
                      Banc of America Securities LLC
                      Bear, Stearns & Co. Inc.

TRUSTEE AND           LaSalle Bank National Association
CUSTODIAN

CERTIFICATE           Wells Fargo Bank, National Association
ADMINISTRATOR

MASTER SERVICERS      KeyCorp Real Estate Capital Markets, Inc., with respect to the mortgage loans sold to the
                      depositor by MLML, KEY and IXIS. Wells Fargo Bank, National Association, with respect to mortgage
                      loans sold to the depositor by CRF and WFB.

                      The Peter Cooper Village and Stuyvesant Town mortgage loan will be serviced and administered
                      pursuant to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
                      Certificates Series, 2007-C30 pooling and servicing agreement. The FRIS Chicken mortgage loan will
                      be serviced and administered pursuant to the Morgan Stanley Capital I Trust 2005-HQ6, Commercial
                      Mortgage Pass-Through Certificates Series 2005-HQ6 pooling and servicing agreement.

SPECIAL SERVICER      CWCapital Asset Management LLC

RATING AGENCIES       Fitch, Inc.

                      Moody's Investors Service, Inc.

                      Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc.

DENOMINATIONS         $25,000 minimum for the offered certificates.

CLOSING DATE          On or about March 14, 2007.

SETTLEMENT TERMS      Book-entry through DTC for all offered certificates.

DETERMINATION         For any distribution date, the eighth day of each month, or if such day is not a business day, the
DATE                  business day immediately succeeding, except that in the case of certain mortgage loans, the
                      applicable master servicer may make its determination as to the collections received as of a later
                      date during each month.

DISTRIBUTION DATE     The fourth business day following the related Determination Date, beginning in April 2007.

DAY COUNT             All classes will accrue on a 30/360 basis except the non-offered classes A-2FL, A-3FL, A-4FL,
                      AM-FL and AJ-FL which will accrue on the basis of the actual number of days elapsed and a 360-day
                      year.

INTEREST              Each class of offered certificates will be entitled on each distribution date to interest accrued
DISTRIBUTIONS         during  the prior calendar month at its pass-through rate for such distribution date on the
                      outstanding certificate balance of such class immediately prior to such distribution date;
                      provided that, for so long as the related swap agreement is in effect and no payment default is
                      continuing thereunder, the interest accrual period for the class A-2FL, A-3FL, A-4FL, AM-FL and
                      AJ-FL certificates will, for each distribution date, begin on the prior distribution date (or, in
                      the case of the initial such interest



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        3



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



                      accrual period, on the closing date) and end on the business day preceding the subject
                      distribution date. Interest on the offered certificates will be calculated on the basis of twelve
                      30-day months and a 360-day year (or, in the case of the class A-2FL, A-3FL, A-4FL, AM-FL and
                      AJ-FL certificates, for so long as the related swap agreement is in effect and no payment default
                      is continuing thereunder, the actual number of days during each related interest accrual period in
                      a year assumed to consist of 360 days). Subject to available funds, distributions of interest will
                      be made with respect to the following classes of certificates in the following order on each
                      distribution date: first, the class A-1, A-2, A-2FL, A-3, A-3FL, A-SB, A-4, A-4FL, A-1A and X
                      certificates, pro rata and pari passu; second, the class AM and AM-FL certificates, pro rata and
                      pari passu; third, the class AJ and AJ-FL certificates, pro rata and pari passu; and then the
                      respective remaining classes of certificates with principal balances, sequentially in alphabetical
                      order of class designation. In general, payments of interest in respect of the class A-1, A-2,
                      A-2FL, A-3, A-3FL, A-SB, A-4 and A-4FL certificates will be made to the extent of available funds
                      attributable to the mortgage loans in loan group 1, payments of interest in respect of the class
                      A-1A certificates will be made to the extent of available funds attributable to the mortgage loans
                      in loan group 2, and payments of interest in respect of the class X certificates will be made to
                      the extent of available funds attributable to mortgage loans in both loan groups. However, if the
                      application of available funds as described in the preceding sentence would result in an interest
                      shortfall to any of those classes of certificates, then payments of interest will be made with
                      respect to all of those classes on a pro rata (based on amount of interest accrued) and pari passu
                      basis without regard to loan groups. Furthermore, notwithstanding the foregoing, payments of
                      interest with respect to the class A-2FL, A-3FL, A-4FL, AM-FL and AJ-FL certificates out of
                      collections on the mortgage loans will be calculated on a 30/360 basis at a fixed coupon or a
                      coupon calculated at the lesser of a specified percentage and a weighted average coupon derived
                      from net interest rates on the mortgage loans, with such interest to be exchanged under the
                      related swap agreement for interest calculated on an actual/360 basis at a LIBOR-based rate. No
                      class of certificates will provide credit support for any failure on the part of the swap
                      counterparty to make any required payment under the swap agreement. Interest payments with respect
                      to the class A-2FL, A-3FL, A-4FL, AM-FL and AJ-FL certificates will be subject to reduction if the
                      weighted average of certain net interest rates on the mortgage loans declines below the fixed rate
                      per annum at which interest is payable by the trust to the swap counterparty.

                      No class of offered certificates will have any beneficial interest in any swap agreement.

PRINCIPAL             Except as described below, principal will be distributed on each distribution date, to the extent
DISTRIBUTIONS         of available funds, to the most senior class of sequential pay certificates outstanding until its
                      certificate balance is reduced to zero. Payments of principal will generally be made, to the
                      extent of available funds (i) to the class A-1 certificates, the class A-2 and A-2FL certificates
                      (on a pro rata and pari passu basis), the class A-3 and A-3FL certificates (on a pro rata and pari
                      passu basis), the class A-SB certificates and the class A-4 and A-4FL (on a pro rata and pari
                      passu basis), in that order, in an amount equal to the funds received or advanced with respect to
                      principal on mortgage loans in loan group 1 and, after the principal balance of the class A-1A
                      certificates has been reduced to zero, the funds received or advanced with respect to principal on
                      mortgage loans in loan group 2, in each case until the principal balance of the subject class of
                      certificates is reduced to zero, and (ii) to the class A-1A certificates, in an amount equal to
                      the funds received or advanced with respect to principal on mortgage loans in loan group 2 and,
                      after the principal balance of the A-4 and A-4FL certificates have been reduced to zero, the funds
                      received or advanced with respect to principal on mortgage loans in loan group 1, until the
                      principal balance of the class A-1A certificates is reduced to zero.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        4



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



                      Notwithstanding the foregoing, on any distribution date as of which the principal balance of the
                      class A-SB certificates is required to be paid down to its scheduled principal balance for that
                      distribution date in accordance with a specified schedule that will be annexed to the prospectus
                      supplement, distributions of principal will be made, to the extent of available funds, to reduce
                      the principal balance of the class A-SB certificates to its scheduled principal balance for the
                      subject distribution date, out of the funds received or advanced with respect to principal on the
                      mortgage loans in loan group 1 (prior to any distributions of principal from those loan group 1
                      funds to any other class of certificates on that distribution date) and, after the principal
                      balance of the class A-1A certificates has been reduced to zero, out of the funds received or
                      advanced with respect to principal on mortgage loans in loan group 2 (prior to any distributions
                      of principal with respect to the class A-1, A-2, A-2FL, A-3, A-3FL, A-4, A-4FL certificates on
                      that distribution date).

                      If, due to losses, the certificate balances of the class AM and class AM-FL through class Q
                      certificates are reduced to zero, payments of principal to the class A-1, A-2, A-2FL, A-3, A-3FL,
                      A-SB, A-4, A-4FL and A-1A certificates (to the extent that any two or more of these classes are
                      outstanding) will be made on a pro rata and pari passu basis.

                      Following retirement of the class A-1, A-2, A-2FL, A-3, A-3FL, A-SB, A-4, A-4FL and A-1A
                      certificates, amounts distributable as principal will be distributed on each distribution date, to
                      the extent of available funds, first to the class AM and AM-FL certificates (on a pro rata and
                      pari passu basis), second to the class AJ and AJ-FL certificates (on a pro rata and pari passu
                      basis), and third to the class B, C, D, E, F, G, H, J, K, L, M, N, P and Q certificates, in that
                      order, in each case until the related certificate balance of the subject class of certificates is
                      reduced to zero.

LOSSES                Losses realized on the mortgage loans and certain default-related and other unanticipated
                      expenses, if any, will be allocated to the class Q, P, N, M, L, K, J, H, G, F, E, D, C and B
                      certificates, in that order, and then, on a pro rata and pari passu basis, to the class AJ and
                      AJ-FL certificates, and then, on a pro rata and pari passu basis, to the class AM and AM-FL
                      certificates, and then, on a pro rata and pari passu basis, to the class A-1, A-2, A-2FL, A-3,
                      A-3FL, A-SB, A-4, A-4FL and A-1A certificates.

PREPAYMENT            Any prepayment premiums or yield maintenance charges collected will be distributed to certificate
PREMIUMS AND          holders and/or the swap counterparty on the distribution date following the collection period in
YIELD MAINTENANCE     which the prepayment premium was received. On each distribution date, the holders of each class of
CHARGES               offered certificates and of the class E, F, G and H certificates then entitled to principal
                      distributions (to the extent such prepayment premium or yield maintenance charge is collected from
                      mortgage loans in the loan group, if applicable, from which such class of certificates is
                      receiving payments of principal) will be entitled to a portion of prepayment premiums or yield
                      maintenance charges equal to the product of (a) the amount of such prepayment premiums or yield
                      maintenance charges, net of workout fees and principal recovery fees payable therefrom, multiplied
                      by (b) a fraction, which in no event may be greater than 1.0, the numerator of which is equal to
                      the excess, if any, of the pass-through rate of such class of certificates (or, in the case of the
                      class A-2FL, A-3FL, A-4FL, AM-FL and AJ-FL certificates, the pass-through rate that would be
                      payable thereon without regard to the related interest rate swap agreement as described under
                      "Interest Distributions" above) over the relevant discount rate, and the denominator of which is
                      equal to the excess, if any, of the mortgage interest rate of the prepaid mortgage loan over the
                      relevant discount rate, multiplied by (c) a fraction, the numerator of which is equal to the
                      amount of principal distributable on such class of certificates on that distribution date, and the
                      denominator of which is equal to the total principal distribution amount for that distribution
                      date; provided that, if any of the class A-4 or class A-4FL on the one hand and A-1A on the other
                      hand were outstanding (prior to any distributions) on such distribution date, then the number in
                      clause (c) will be a fraction, the numerator of which is



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        5



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



                      equal to the amount of principal distributable on the subject class of certificates on such
                      distribution date with respect to the loan group that includes the prepaid mortgage loan, and the
                      denominator of which is equal to the portion of the total principal distribution amount for such
                      distribution date that is attributable to the loan group that includes the prepaid mortgage loan.
                      However, as long as the related swap agreement is in effect and there is no continuing payment
                      default thereunder, any prepayment premium or yield maintenance charge allocable to the class
                      A-2FL, A-3FL, A-4FL, AM-FL, AJ-FL certificates will be payable to the respective swap
                      counterparties.

                      The portion, if any, of the prepayment premiums or yield maintenance charges remaining after any
                      payments described above will be distributed to the holders of the class X.

                      All prepayment premiums and yield maintenance charges payable as described above will be reduced,
                      with respect to specially serviced mortgage loans, by an amount equal to certain expenses of the
                      trust fund and losses realized in respect of the mortgage loans previously allocated to any class
                      of certificates.

ADVANCES              The applicable master servicer (solely with respect to those mortgage loans as to which it is
                      acting as master servicer) and, if it fails to do so, the trustee will be obligated to make P&I
                      advances and servicing advances, including advances of delinquent property taxes and insurance,
                      but only to the extent that such advances are considered recoverable, and, in the case of P&I
                      advances, subject to appraisal reductions (which are described below) that may occur.

APPRAISAL             If any of certain adverse events or circumstances described in the offering prospectus occur or
REDUCTIONS            exist with respect to any mortgage loan or the mortgaged real property for any mortgage loan, that
                      mortgage loan will be considered a required appraisal loan. An appraisal reduction will generally
                      be made in the amount, if any, by which the principal balance of the required appraisal loan (plus
                      other amounts overdue or advanced in connection with such loan) exceeds 90% of the appraised value
                      of the related mortgaged real property plus all escrows and reserves (including letters of credit)
                      held as additional collateral with respect to the mortgage loan. As a result of calculating an
                      appraisal reduction amount for a given mortgage loan, the interest portion of any P&I advance for
                      such loan will be reduced, which will have the effect of reducing the amount of interest available
                      for distribution to the certificates.

                      A required appraisal loan will generally cease to be a required appraisal loan when the related
                      mortgage loan has been brought current for at least three consecutive months and no other
                      circumstances exist which would cause such mortgage loan to be a required appraisal loan.

OPTIONAL              Each master servicer, the special servicer and certain certificate holders will have the option to
TERMINATION           terminate the trust and retire the then outstanding certificates, in whole but not in part, and
                      purchase the remaining assets of the trust on or after the distribution date on which the stated
                      principal balance of the mortgage loans is less than approximately 1.0% of the initial mortgage
                      pool balance. Such purchase price will generally be at a price equal to the unpaid aggregate
                      principal balance of the mortgage loans, plus accrued and unpaid interest and certain other
                      additional trust fund expenses, and the fair market value of any REO properties acquired by the
                      trust following foreclosure.

                      In addition, if, following the date on which the total principal balances of the class A-1, A-2,
                      A-2FL, A-3, A-3FL, A-SB, A-4, A-4FL, A-1A, AM, AM-FL, AJ, AJ-FL, B, C and D certificates are
                      reduced to zero, all of the remaining certificates, except the class Y, Z, R-I and R-II
                      certificates, are held by the same certificate holder, the trust fund may also be terminated,
                      subject to such additional conditions as may be set forth in the pooling and servicing agreement,
                      in connection with an exchange of all the remaining certificates, except the class Y, Z, R-I and
                      R-II certificates, for all the mortgage loans and REO properties remaining in the trust fund at
                      the time of exchange.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        6



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



CONTROLLING CLASS     The most subordinate class of principal balance certificates that has a class certificate balance
                      greater than 25% of its original certificate balance will be the controlling class of
                      certificates; provided, however, that if no such class of principal balance certificates satisfies
                      such requirement, the controlling class of certificates will be the most subordinate class of
                      principal balance certificates with a class certificate balance greater than zero. The holder(s)
                      of certificates representing a majority interest in the controlling class will have the right,
                      subject to the limitations and conditions described in the offering prospectus, to replace the
                      special servicer and select a representative that may direct and advise the special servicer on
                      various servicing matters.

ERISA                 The offered certificates are expected to be eligible for purchase by employee benefit plans and
                      other plans or arrangements, subject to certain conditions.

SMMEA                 The offered certificates will not be "mortgage related securities" for the purposes of the
                      Secondary Mortgage Market Enhancement Act of 1984.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        7



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

CONTACTS

     MERRILL LYNCH & CO.                COUNTRYWIDE SECURITIES CORPORATION

        John Mulligan                             Tom O'Hallaron
    (212) 449-3860 (Phone)                    (818) 225-6353 (Phone)
     (212) 738-1491 (Fax)                     (818) 225-4032 (Fax)

          Max Baker                              Marlyn Marincas
   (212) 449-3860 (Phone)                     (818) 225-6342 (Phone)
     (212) 738-1491 (Fax)                      (818) 225-4032 (Fax)

          Rich Sigg                              Jerry Hirshkorn
   (212) 449-3860 (Phone)                     (212) 649-8352 (Phone)
    (212) 738-1491 (Fax)                       (212) 649-8391 (Fax)

        David Rodgers                             Cary Carpenter
    (212) 449-3611 (Phone)                    (818) 225-6336 (Phone)
     (212) 449-7684 (Fax)                      (818) 225-4032 (Fax)

          Joe Cuomo                              Mark Rudnitzky
    (212) 449-3766 (Phone)                   (818) 225-6353 (Phone)
    (212) 449-7684 (Fax)                       (818) 225-4032 (Fax)

IXIS SECURITIES NORTH AMERICA                KEYBANC CAPITAL MARKETS

         Greg Murphy                             Audrey Saccardi
    (212) 891-6282 (Phone)                    (216) 689-3567 (Phone)
    (212) 891-3454 (Fax)                       (216) 689-0976 (Fax)

        Scott Douglass                             Gary Andrews
    (212) 891-5705 (Phone)                    (216) 689-3567 (Phone)
     (212) 891-3421 (Fax)                      (216) 689-0976 (Fax)

BANC OF AMERICA SECURITIES LLC               BEAR, STEARNS & CO. INC.

        Geordie Walker                            Tim Koltermann
    (704) 388-1597 (Phone)                    (212) 272-4953 (Phone)
     (704) 388-9677 (Fax)                      (917) 849-0223 (Fax)

        Chris Springer
    (704) 388-1597 (Phone)
    (704) 388-9677 (Fax)


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        8



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE

(THE SUM OF THE PERCENTAGE CALCULATIONS MAY NOT EQUAL 100% DUE TO ROUNDING.)

All numerical information provided with respect to the mortgage loans is
provided on an approximate basis. All weighted average information provided with
respect to the mortgage loans reflects a weighting of the subject mortgage loans
based on their respective cut-off date principal balances. When information with
respect to the mortgaged real properties is expressed as a percentage of the
initial mortgage pool balance, the percentages are based upon the cut-off date
principal balances of the related mortgage loans comprising the mortgage pool.
If any of the mortgage loans is secured by multiple mortgaged real properties,
the cut-off date principal balance has been allocated based on any of (i) an
individual property's appraised value as a percentage of the total appraised
value of all of the mortgaged real properties, including the subject individual
property, securing the same mortgage loan, (ii) an individual property's
underwritten net operating income as a percentage of the total underwritten net
operating income of all the mortgaged real properties, including the subject
individual property, securing the same mortgage loan and (iii) an allocated loan
balance specified in the related loan documents. Unless specifically indicated
otherwise (for example, with respect to loan-to-value and debt service coverage
ratio and cut-off date balance/unit of the Peter Cooper Village and Stuyvesant
Town mortgage loan and the FRIS Chicken mortgage loan in which case the related
pari passu non-trust loan is taken into account), statistical information
presented with respect to any mortgage loan in the trust that is part of a loan
combination excludes the related non-trust loan.

GENERAL CHARACTERISTICS
--------------------------------------------------------------------------------




                                                                                     ALL MORTGAGE        LOAN              LOAN
                                                                                        LOANS          GROUP 1           GROUP 2

Initial mortgage pool balance ....................................................  $4,417,019,866   $3,211,422,742   $1,205,597,124
Number of pooled mortgage loans ..................................................             333              259               74
Number of mortgaged properties ...................................................             570              490               80
Percentage of investment grade loans .............................................           19.7%             2.1%            66.5%
Average cut-off date principal balance ...........................................      13,264,324       12,399,316       16,291,853
Largest cut-off date principal balance ...........................................     800,000,000      170,000,000      800,000,000
Smallest cut-off date principal balance ..........................................         431,373          586,804          431,373
Weighted average mortgage interest rate ..........................................         5.9533%          5.8472%          6.2361%
Highest mortgage interest rate ...................................................         7.5000%          7.5000%          7.4250%
Lowest mortgage interest rate ....................................................         4.9900%          4.9900%          5.4500%
Number of cross collateralized mortgage loans ....................................               9                9                0
Cross collateralized mortgage loans as % of IPB ..................................            1.5%             2.0%             0.0%
Number of multi property mortgage loans ..........................................              18               13                5
Multi property mortgage loans as a % of IPB ......................................           25.3%             7.7%            72.1%
Weighted average underwritten debt service coverage ratio ........................           1.44x            1.39x            1.58x
Maximum underwritten debt service coverage ratio .................................          15.11x            3.48x           15.11x
Minimum underwritten debt service coverage ratio .................................           1.05x            1.05x            1.10x
Weighted average cut-off date loan-to-value ratio ................................           67.5%            69.8%            61.2%
Maximum cut-off date loan-to-value ratio .........................................           84.0%            84.0%            81.1%
Minimum cut-off date loan-to-value ratio .........................................            5.0%            31.2%             5.0%
Weighted average remaining term to maturity or anticipated repayment date (months)             116              114              119
Maximum remaining term to maturity or anticipated repayment date (months) ........             353              178              353
Minimum remaining term to maturity or anticipated repayment date (months) ........              57               57               57
Weighted average remaining amortization term (months) ............................             350              350              357
Maximum remaining amortization term (months) .....................................             473              420              473
Minimum remaining amortization term (months) .....................................              97               97              297



_____________________

(1)   It has been confirmed by Fitch, Moody's and S&P, in accordance with their
      respective methodologies, that the Peter Cooper Village and Stuyvesant
      Town mortgage loan, Omni-Castle Hill mortgage loan,
      Omni-Chancellor/Brookville mortgage loan, Omni-Harborview mortgage loan
      789 West End Avenue and the FRIS Chicken mortgage loan has credit
      characteristics consistent with investment-grade rated obligations.

(2)   With respect to certain mortgage loans, debt service coverage ratios
      and/or cut-off date loan-to-value ratios were calculated assuming the
      application of a holdback amount and/or a letter of credit in reduction of
      their respective cut-off date principal balances or taking into account
      various assumptions regarding the financial performance or value of the
      related mortgaged real property on a "stablilized" basis.

(3)   Excludes mortgage loans that are interest-only for their entire term.

(4)   With respect to the Peter Cooper Village and Stuyvesant Town mortgage loan
      and FRIS Chicken mortgage loan, calculations of LTV and DSCR also include
      the related pari passu loan that is not included in the trust.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                        9



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

SELECT CHARACTERISTICS OF MORTGAGE POOL
--------------------------------------------------------------------------------

            PROPERTY TYPE BY STATE/LOCATION MATRIX FOR MORTGAGE POOL
--------------------------------------------------------------------------------




                                                     % OF INITIAL MORTGAGE POOL BALANCE BY PROPERTY TYPE
----------------------------------------------------------------------------------------------------------------------------------
                           % OF
                          INITIAL
                         MORTGAGE
                           POOL                                                           SELF    MIXED              MANUFACTURED
STATE                     BALANCE  MULTIFAMILY  OFFICE  RETAIL  HOSPITALITY  INDUSTRIAL  STORAGE   USE   HEALTHCARE    HOUSING
----------------------------------------------------------------------------------------------------------------------------------

New York .............      28.6      18.2        4.7     0.3       4.1         1.2         --     0.0       --           --
California ...........      11.1       1.6        5.0     2.8        --         0.4        0.7     0.1       --          0.4
 Southern ............       9.8       1.5        4.9     2.3        --         0.2        0.6     0.1       --          0.1
 Northern ............       1.3       0.1        0.1     0.5        --         0.2        0.1      --       --          0.2
Texas ................       9.0       1.5        0.6     2.6       3.6         0.5        0.2      --       --           --
Arizona ..............       5.5       1.0        1.7     2.1        --         0.6         --      --       --           --
Florida ..............       5.4       0.1        0.8     1.7       1.2         1.6         --      --       --           --
Maryland .............       4.1       0.3        0.8     0.4        --         0.1        2.5      --       --           --
Georgia ..............       3.7        --        2.6     1.0       0.1          --         --     0.0       --           --
Pennsylvania .........       3.2       0.3        0.8     2.1        --          --         --      --       --           --
Tennessee ............       3.0       0.1         --     1.0       0.1         1.7         --      --       --           --
New Jersey ...........       2.7        --        0.7     0.5        --          --         --     0.4      1.0           --
North Carolina .......       1.8       1.1         --     0.4       0.3          --         --      --       --           --
Virginia .............       1.8       0.0        0.1     0.3       0.7         0.7         --      --       --           --
Ohio .................       1.8       0.5         --     1.3        --          --         --      --       --           --
Alabama ..............       1.4       0.5        0.3     0.4       0.3          --        0.1      --       --           --
Indiana ..............       1.4       0.5        0.2      --        --         0.8         --      --       --           --
Connecticut ..........       1.3        --        1.1      --       0.2          --         --      --       --           --
Minnesota ............       1.2       0.1        0.8     0.3        --          --         --      --       --           --
Colorado .............       1.1        --        0.0     0.6       0.3          --         --     0.2       --           --
Massachusetts ........       1.0        --         --     0.3       0.1          --         --     0.7       --           --
South Carolina .......       1.0       0.4         --     0.3       0.3          --         --      --       --           --
Kentucky .............       1.0        --         --     0.7        --         0.3         --      --       --           --
Louisiana ............       1.0        --        0.9     0.1        --          --         --      --       --           --
Kansas ...............       1.0        --        0.8     0.2        --          --         --      --       --           --
Nevada ...............       0.9        --         --     0.8        --          --         --      --       --          0.0
Michigan .............       0.8       0.3        0.5      --        --          --         --      --       --           --
District of Columbia..       0.7        --         --      --       0.7          --         --      --       --           --
Washington ...........       0.6       0.0         --     0.3        --         0.2         --      --       --           --
Iowa .................       0.6       0.3         --     0.2        --          --         --      --       --           --
Alaska ...............       0.6        --        0.3     0.2        --          --         --      --       --           --
Missouri .............       0.5        --        0.4     0.1        --         0.1         --      --       --           --
Illinois .............       0.5        --         --     0.3       0.1         0.1         --      --       --           --
Oklahoma .............       0.4       0.2         --     0.0       0.1          --         --      --       --           --
New Mexico ...........       0.4       0.1         --     0.3        --          --         --      --       --           --
Oregon ...............       0.3        --        0.0     0.0        --          --        0.1     0.1       --           --
Utah .................       0.2        --        0.1     0.0       0.1          --         --      --       --           --
Vermont ..............       0.1       0.0         --     0.1        --          --         --      --       --           --
Delaware .............       0.1        --         --     0.1        --          --         --      --       --           --
North Dakota .........       0.1       0.1         --      --        --          --         --      --       --           --
Wisconsin ............       0.1       0.0         --     0.0        --          --         --      --       --           --
Mississippi ..........       0.0        --         --     0.0        --          --         --      --       --           --
Idaho ................       0.0        --         --     0.0        --          --         --      --       --           --
New Hampshire ........       0.0       0.0         --      --        --          --         --      --       --           --
Arkansas .............       0.0        --         --     0.0        --          --         --      --       --           --
                           -------------------------------------------------------------------------------------------------------
                           100.0%     27.2%      23.3%   22.2%     12.4%        8.3%       3.5%    1.6%     1.0%         0.4%
                           =======================================================================================================




This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.


                                       10



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


SELECT CHARACTERISTICS OF MORTGAGE POOL
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                                  CUT-OFF DATE      % OF INITIAL
                                    NUMBER OF      PRINCIPAL          MORTGAGE
                                 MORTGAGE LOANS     BALANCE         POOL BALANCE
--------------------------------------------------------------------------------
Interest Only .................        47        $1,897,566,000        43.0%
Single Tenant .................        50        $  427,770,860         9.7%
Loans > 50% Single Tenant .....        78        $  669,322,126        15.2%
Current Secondary Debt ........        20        $1,242,031,370        28.1%
Future Secondary Debt Permitted        42        $1,487,469,421        33.7%
Lockbox .......................       121        $2,888,709,957        65.4%
Escrow Type(1) ................
 TI/LC Reserves(2) ............       116        $1,323,527,916        54.0%
 Real Estate Tax ..............       274        $3,696,076,889        83.7%
 Insurance ....................       239        $3,322,611,358        75.2%
 Replacement Reserves .........       209        $3,427,901,828        77.6%

SELECT CHARACTERISTICS OF LOAN GROUP 1
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                                  CUT-OFF DATE     % OF INITIAL
                                    NUMBER OF      PRINCIPAL       LOAN GROUP 1
                                 MORTGAGE LOANS     BALANCE          BALANCE
--------------------------------------------------------------------------------
Interest Only .................        38        $  912,071,000        28.4%
Single Tenant .................        50        $  427,770,860        13.3%
Loans > 50% Single Tenant .....        78        $  669,322,126        20.8%
Current Secondary Debt ........        16        $  407,610,267        12.7%
Future Secondary Debt Permitted        38        $  654,134,513        20.4%
Lockbox .......................       113        $2,009,159,583        62.6%
Escrow Type(1) ................
 TI/LC Reserves(2) ............       116        $1,323,527,916        54.0%
 Real Estate Tax ..............       203        $2,493,689,218        77.7%
 Insurance ....................       170        $2,121,785,315        66.1%
 Replacement Reserves .........       175        $2,350,298,693        73.2%

SELECT CHARACTERISTICS OF LOAN GROUP 2
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                                  CUT-OFF DATE     % OF INITIAL
                                    NUMBER OF      PRINCIPAL       LOAN GROUP 2
                                 MORTGAGE LOANS     BALANCE          BALANCE
--------------------------------------------------------------------------------
Interest Only .................        9         $  985,495,000        81.7%
Single Tenant .................       NAP                   NAP         NAP
Loans > 50% Single Tenant .....       NAP                   NAP         NAP
Current Secondary Debt ........        4         $  834,421,103        69.2%
Future Secondary Debt Permitted        4         $  833,334,908        69.1%
Lockbox .......................        8         $  879,550,374        73.0%
Escrow Type(1) ................
 Real Estate Tax ..............        71        $1,202,387,670        99.7%
 Insurance ....................        69        $1,200,826,043        99.6%
 Replacement Reserves .........        34        $1,077,603,136        89.4%

_____________________

(1)   Includes only upfront and ongoing reserves.

(2)   TI/LC escrows are expressed as a percentage of only the mortgage loans
      secured by Office, Retail, Industrial and Mixed Use Properties.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       11



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


SELECT CHARACTERISTICS OF MORTGAGE POOL
--------------------------------------------------------------------------------



CUT--OFF DATE BALANCE ($)
-------------------------------------------------------------------------------------------
                                                                 % OF
           RANGE OF                             AGGREGATE       INITIAL    % OF      % OF
           CUT--OFF               NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
        DATE PRINCIPAL            MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
         BALANCES ($)               LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

431,373 -- 2,999,999 ..........      102      $  168,945,120      3.8%      3.5%      4.8%
3,000,000 -- 3,999,999 ........       29         104,018,463      2.4%      2.7%      1.4%
4,000,000 -- 4,999,999 ........       21          92,813,219      2.1%      2.6%      0.7%
5,000,000 -- 5,999,999 ........       24         130,591,835      3.0%      3.9%      0.5%
6,000,000 -- 6,999,999 ........       13          83,724,366      1.9%      1.8%      2.1%
7,000,000 -- 7,999,999 ........        7          51,771,022      1.2%      1.6%      0.0%
8,000,000 -- 9,999,999 ........       24         209,790,159      4.7%      6.5%      0.0%
10,000,000 -- 12,999,999 ......       37         415,238,089      9.4%     11.5%      3.7%
13,000,000 -- 19,999,999 ......       29         457,358,947     10.4%     10.4%     10.3%
20,000,000 -- 49,999,999 ......       35       1,040,268,647     23.6%     28.6%     10.1%
50,000,000 -- 800,000,000 .....       12       1,662,500,000     37.6%     26.9%     66.4%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: $431,373                   MAX: $800,000,000                    WTD. AVG. $13,264,324
-------------------------------------------------------------------------------------------




DEBT(1) SERVICE COVERAGE RATIO (X)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE       INITIAL    % OF      % OF
                                  NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
           RANGE OF               MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
           DSCR(X)                  LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

1.05 -- 1.19 ..................       58      $  712,289,583     16.1%     19.3%      7.6%
1.20 -- 1.24 ..................       74         748,921,974     17.0%     21.0%      6.1%
1.25 -- 1.29 ..................       47         410,846,506      9.3%     10.1%      7.1%
1.30 -- 1.34 ..................       27         205,033,918      4.6%      4.2%      5.8%
1.35 -- 1.39 ..................       35         411,616,400      9.3%     11.5%      3.5%
1.40 -- 1.44 ..................       15         152,518,034      3.5%      4.7%      0.0%
1.45 -- 1.49 ..................       15         310,297,211      7.0%      8.5%      3.2%
1.50 -- 1.59 ..................       15         194,454,337      4.4%      6.1%      0.0%
1.60 -- 1.99 ..................       35       1,166,602,423     26.4%     11.3%     66.5%
2.00 -- 15.11 .................       12         104,439,482      2.4%      3.2%      0.2%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 1.05X                      MAX: 15.11X                                WTD. AVG. 1.44X
-------------------------------------------------------------------------------------------




MORTGAGE RATE (%)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE       INITIAL    % OF      % OF
                                  NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
          RANGE OF                MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
     MORTGAGE RATES (%)             LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

4.9900 -- 4.9999 ..............        2      $   12,573,750      0.3%      0.4%      0.0%
5.2500 -- 5.4999 ..............       12         331,873,716      7.5%     10.1%      0.5%
5.5000 -- 5.7499 ..............       80       1,179,656,740     26.7%     31.0%     15.4%
5.7500 -- 5.9999 ..............      136       1,149,792,596     26.0%     30.8%     13.4%
6.0000 -- 6.0999 ..............       20         153,847,192      3.5%      4.4%      1.2%
6.1000 -- 6.1999 ..............       15         313,946,893      7.1%      9.6%      0.5%
6.2000 -- 6.2999 ..............       13         104,522,878      2.4%      3.1%      0.4%
6.3000 -- 6.3999 ..............        9          77,636,838      1.8%      2.4%      0.0%
6.4000 -- 6.4999 ..............        6         977,225,525     22.1%      5.5%     66.4%
6.5000 -- 7.5000 ..............       40         115,943,738      2.6%      2.7%      2.3%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 4.9900                      MAX: 7.5000                              WTD. AVG. 5.9533
-------------------------------------------------------------------------------------------




CUT--OFF DATE LOAN--TO--VALUE RATIO (%)(1)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE       INITIAL    % OF      % OF
           RANGE OF               NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
       CUT--OFF DATE LTV          MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
          RATIOS (%)                LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

5.0 -- 50.0 ...................       33      $  148,250,650      3.4%      4.4%      0.5%
50.1 -- 60.0 ..................       30       1,132,763,770     25.6%     10.0%     67.4%
60.1 -- 65.0 ..................       40         431,894,245      9.8%     12.7%      2.0%
65.1 -- 70.0 ..................       56         461,927,447     10.5%     11.5%      7.6%
70.1 -- 75.0 ..................       75         920,685,854     20.8%     25.8%      7.7%
75.1 -- 77.5 ..................       23         385,305,097      8.7%     10.9%      3.1%
77.6 -- 80.0 ..................       71         906,358,802     20.5%     23.9%     11.5%
80.1 -- 84.0 ..................        5          29,834,000      0.7%      0.8%      0.3%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 5.0%                       MAX: 84.0%                                 WTD. AVG. 67.5%
-------------------------------------------------------------------------------------------




MATURITY DATE OR ARD LOAN--TO--VALUE RATIO (%)(1)
-------------------------------------------------------------------------------------------
                                                                 % OF
           RANGE OF                             AGGREGATE      INITIAL     % OF      % OF
         MATURITY DATE            NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
            OR ARD                MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
        LTV RATIOS (%)              LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

Fully Amortizing ..............       30      $   38,526,906      0.9%      0.5%      1.9%
3.0 -- 40.0 ...................       22         114,550,747      2.6%      3.4%      0.5%
40.1 -- 50.0 ..................       25         148,346,901      3.4%      4.4%      0.6%
50.1 -- 60.0 ..................       54       1,453,259,285     32.9%     19.6%     68.4%
60.1 -- 62.4 ..................       26         214,920,431      4.9%      6.6%      0.3%
62.5 -- 65.0 ..................       35         389,500,446      8.8%     10.3%      4.8%
65.1 -- 67.4 ..................       33         346,235,047      7.8%      8.6%      5.9%
67.5 -- 70.0 ..................       36         492,896,952     11.2%     13.2%      5.6%
70.1 -- 80.0 ..................       72       1,218,783,149     27.6%     33.4%     12.0%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 3.0%                       MAX: 80.0%                                 WTD. AVG. 62.9%
-------------------------------------------------------------------------------------------




ORIGINAL TERM TO MATURITY OR ARD (MOS)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE      INITIAL     % OF      % OF
           RANGE OF               NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
        ORIGINAL TERMS            MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
      TO MATURITY (MOS.)            LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

1 -- 60 .......................       11      $  163,968,831      3.7%      3.6%      4.0%
61 -- 72 ......................        0                   0      0.0%      0.0%      0.0%
73 -- 84 ......................        7         130,558,662      3.0%      2.9%      3.2%
85 -- 96 ......................        1          12,920,000      0.3%      0.4%      0.0%
97 -- 120 .....................      277       4,071,081,857     92.2%     92.8%     90.4%
121 -- 360 ....................       37          38,490,516      0.9%      0.3%      2.5%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 60                         MAX: 360                                    WTD. AVG. 118
-------------------------------------------------------------------------------------------


(1)   With respect to the Peter Cooper Village and Stuyvesant Town mortgage loan
      and FRIS Chicken mortgage loan, calculations of LTV and DSCR also include
      the related pari passu loan that is not included in the trust.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       12



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

SELECT CHARACTERISTICS OF MORTGAGE POOL
--------------------------------------------------------------------------------




REMAINING TERM TO MATURITY OR ARD (MOS)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE      INITIAL     % OF      % OF
               RANGE OF           NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
           REMAINING TERMS        MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
          TO MATURITY (MOS.)        LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

57 -- 60 ......................       11      $  163,968,831      3.7%      3.6%      4.0%
61 -- 84 ......................        7         130,558,662      3.0%      2.9%      3.2%
85 -- 121 .....................      278       4,084,001,857     92.5%     93.2%     90.4%
122 -- 353 ....................       37          38,490,516      0.9%      0.3%      2.5%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 57                         MAX: 353                                WTD. AVERAGE: 116
-------------------------------------------------------------------------------------------




REMAINING PARTIAL IO TERM (MOS)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE      INITIAL     % OF      % OF
                                  NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
       RANGE OF REMAINING         MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
        PARTIAL IO TERMS            LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

4 -- 14 .......................       14      $   97,156,000      2.2%      2.7%      0.9%
15 -- 24 ......................       36         341,172,000      7.7%      9.5%      2.9%
25 -- 34 ......................       28         197,717,800      4.5%      4.7%      3.9%
35 -- 39 ......................        8         102,647,000      2.3%      3.0%      0.6%
40 -- 54 ......................        6         108,775,000      2.5%      3.4%      0.0%
55 -- 120 .....................       42         766,490,500     17.4%     23.9%      0.0%
-------------------------------------------------------------------------------------------
Total .........................      134      $1,613,958,300     36.5%     47.2%      8.2%
MIN: 4 MOS.                     MAX: 70 MOS.                         WTD. AVERAGE: 42 MOS.
-------------------------------------------------------------------------------------------




PROPERTY STATE/LOCATION
-------------------------------------------------------------------------------------------
                                                AGGREGATE        % OF
                                                 CUT--OFF      INITIAL     % OF      % OF
                                  NUMBER OF        DATE        MORTGAGE     LOAN     LOAN
                                  MORTGAGED     PRINCIPAL        POOL     GROUP 1   GROUP 2
       LOCATION                  PROPERTIES    BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

New York ......................       18       1,263,266,173     28.6%     14.3%     66.7%
California ....................       69      $  488,932,619     11.1%     13.0%      6.0%
  Southern ....................       58         430,888,702      9.8%     11.2%      6.0%
  Northern ....................       11          58,043,918      1.3%      1.8%      0.1%
Texas .........................      143         396,362,050      9.0%     10.3%      5.4%
Arizona .......................       27         244,091,655      5.5%      6.2%      3.7%
Florida .......................       28         240,506,258      5.4%      7.4%      0.3%
Other(a) ......................      285       1,783,861,111     40.4%     48.9%     17.8%
-------------------------------------------------------------------------------------------
Total .........................      570      $4,417,019,866    100.0%    100.0%    100.0%


_______________________________

(a)   Includes 37 states and the District of Columbia.



AMORTIZATION TYPES
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE      INITIAL     % OF      % OF
                                  NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
                                  MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
     AMORTIZATION TYPES             LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

Interest Only .................       47      $1,897,566,000     43.0%     28.4%     81.7%
IO--Balloon ...................      132       1,562,158,300     35.4%     45.6%      8.2%
Balloon .......................      112         760,534,178     17.2%     20.6%      8.1%
Partial IO--ARD ...............        3          86,300,000      2.0%      2.7%      0.0%
ARD ...........................        8          66,164,481      1.5%      2.1%      0.0%
Fully Amortizing ..............       30          38,526,906      0.9%      0.5%      1.9%
IO--ARD .......................        1           5,770,000      0.1%      0.2%      0.0%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%




REMAINING STATED AMORTIZATION TERM (MOS)
-------------------------------------------------------------------------------------------
                                                                 % OF
                                                AGGREGATE      INITIAL     % OF      % OF
                                  NUMBER OF      CUT--OFF      MORTGAGE    LOAN      LOAN
   RANGE OF REMAINING STATED      MORTGAGE    DATE PRINCIPAL     POOL     GROUP 1   GROUP 2
   AMORTIZATION TERMS (MOS.)        LOANS      BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

Interest Only .................       48      $1,903,336,000     43.1%     28.6%     81.7%
97 -- 240 .....................       16          99,616,284      2.3%      3.1%      0.0%
241 -- 300 ....................       13         139,510,423      3.2%      4.3%      0.2%
301 -- 360 ....................      247       2,151,039,894     48.7%     60.2%     18.0%
361 -- 473 ....................        9         123,517,265      2.8%      3.8%      0.1%
-------------------------------------------------------------------------------------------
Total .........................      333      $4,417,019,866    100.0%    100.0%    100.0%
MIN: 97                         MAX: 473                                 WTD. AVERAGE: 350
-------------------------------------------------------------------------------------------




PROPERTY TYPE
-------------------------------------------------------------------------------------------
                                                AGGREGATE        % OF
                                                 CUT--OFF      INITIAL     % OF       % OF
                                  NUMBER OF        DATE        MORTGAGE    LOAN       LOAN
                                  MORTGAGED     PRINCIPAL        POOL     GROUP 1   GROUP 2
       PROPERTY TYPE             PROPERTIES    BALANCE ($)     BALANCE    BALANCE   BALANCE
-------------------------------------------------------------------------------------------

Multifamily ...................       83       1,218,290,763     27.6%      0.4%    100.0%
  Multifamily .................       79       1,200,159,477     27.2%      0.1%     99.4%
  Manufactured Housing.........        4          18,131,286      0.4%      0.3%      0.6%
Office ........................       57       1,031,241,937     23.3%     32.1%      0.0%
Retail ........................      331      $  978,570,432     22.2%     30.5%      0.0%
Hospitality ...................       28         549,794,238     12.4%     17.1%      0.0%
Industrial ....................       37         367,324,641      8.3%     11.4%      0.0%
Self Storage ..................       24         156,682,890      3.5%      4.9%      0.0%
Mixed Use .....................        7          71,739,441      1.6%      2.2%      0.0%
Healthcare ....................        3          43,375,525      1.0%      1.4%      0.0%
-------------------------------------------------------------------------------------------
Total .........................      570      $4,417,019,866    100.0%    100.0%    100.0%




This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       13



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


BALLOONS IN CLASS A-2 AND A-2FL (5 YEARS)
--------------------------------------------------------------------------------




                                                                                         % OF           CUT-OFF
                                                                            CUT-OFF     INITIAL          DATE
        MORTGAGE                                                              DATE     MORTGAGE           LTV
          LOAN                                                PROPERTY     PRINCIPAL     POOL    DSCR    RATIO   MATURITY
LOAN #   SELLER        LOAN NAME           CITY      STATE      TYPE      BALANCE ($)   BALANCE   (X)     (%)    LTV (%)
-------------------------------------------------------------------------------------------------------------------------

  18      MLML    Fort Henry Mall      Kingsport      TN    Retail         39,500,000    0.9%    1.68x   74.5%     74.5%
  28      CRF     Capitol Hill Suites  Washington     DC    Hospitality    32,500,000    0.7%    1.49    64.6      64.6
  91      MLML    110 Pine Building    Long Beach     CA    Office         11,700,000    0.3%    1.35    70.9      68.2
 110      WFB     Marketplace Club     Duluth         GA    Retail         10,160,000    0.2%    1.20    80.0      75.2
 111      CRF     377 Carlls Path      Deer Park      NY    Industrial     10,000,000    0.2%    1.63    61.7      61.7
 184      CRF     Grass Valley Mobile  Grass Valley   CA    Manufactured    4,900,000    0.1%    1.36    72.2      72.2
                  Home Park                                 Housing
 214      CRF     Energy Plaza         Lafayette      LA    Office          3,800,000    0.1%    1.23    74.2      71.5
 219      CRF     Stoney Creek         Highland       CA    Self Storage    3,688,365    0.1%    1.60    68.3      63.9
                  Self Storage
                                                                          -----------------------------------------------
                                                                          116,248,365    2.6%    1.52x   70.4%     69.5%
                                                                          -----------------------------------------------


           REMAINING      REMAINING
LOAN #  I/O PERIOD (MOS)  TERM (MOS)
------------------------------------

  18           58             58
  28           59             59
  91           22             58
 110            0             60
 111           59             59
 184           58             58

 214           21             57
 219            0             57



BALLOONS IN CLASS A-3 AND A-3FL (7-9 YEARS)
--------------------------------------------------------------------------------



                                                                                              % OF           CUT-OFF
                                                                                 CUT-OFF    INITIAL           DATE
        MORTGAGE                                                                   DATE     MORTGAGE           LTV
          LOAN                                                    PROPERTY      PRINCIPAL     POOL    DSCR    RATIO   MATURITY
LOAN #   SELLER          LOAN NAME             CITY      STATE      TYPE       BALANCE ($)  BALANCE   (X)      (%)    LTV (%)
------------------------------------------------------------------------------------------------------------------------------

  10      CRF     Miami Airport Industrial  Miami         FL     Industrial     53,500,000    1.2%    1.37x   79.9%     79.9%
                  Parks
  40      WFB     FRIS Chicken              Various     Various  Retail         24,226,992    0.5     2.67    41.4      33.3
  60      Key     Shoppes of Blue Lake      Boca Raton    FL     Retail         16,000,000    0.4     1.28    59.3      51.2
  75      CRF     Sheraton Denver West      Lakewood      CO     Hospitality    13,500,000    0.3     1.47    54.2      51.4
  79      CRF     Broadway Business Center  Phoenix       AZ     Industrial     12,920,000    0.3     1.41    79.8      79.8
  81      CRF     10000 Business Blvd.      Dry Ridge     KY     Industrial      6,637,500    0.2     2.60    39.0         0
  82      CRF     4010 Airpark Drive        Owensboro     KY     Industrial      5,936,250    0.1     2.60    39.0         0
  84      WFB     Park Place at Metrowest   Orlando       FL     Office         12,193,424    0.3     1.24    73.5      63.3
  93      Key     Detroit Riverview         Detroit       MI     Office         11,665,000    0.3     1.20    79.6      74.7
                  Medical Complex
 101      Key     St. Luke's Cornwall       Cornwall      NY     Office         10,874,000    0.2     1.19    84.0      78.7
                  Medical Complex
 104      WFB     48317-48389 Fremont       Fremont       CA     Industrial     10,700,000    0.2     1.20    65.6      61.5
                  Boulevard                                                    ----------------------------------------------
                                                                               178,153,166    4.1%    1.59x   66.9%     60.5%
                  Boulevard                                                    ----------------------------------------------


            REMAINING     REMAINING
LOAN #  I/O PERIOD (MOS)  TERM (MOS)
------------------------------------

  10           83             83

  40            0             98
  60            4            112
  75           33             81
  79           93             93
  81            0             98
  82            0             97
  84            0            108
  93           24             84

 101           24             84

 104           34             99




This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       14



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


PARI PASSU COMPANION LOANS(1)
--------------------------------------------------------------------------------




                                        A-NOTE
                                       ORIGINAL
LOAN #          LOAN NAME              BALANCE           TRANSACTION           SERVICER                  SPECIAL SERVICER
--------------------------------------------------------------------------------------------------------------------------------

  1      Peter Cooper Village and     $800,000,000      ML-CFC 2007-5            TBD(4)           CWCapital Asset Management LLC
         Stuyvesant Town            $2,000,000,000(2)        TBD
                                      $200,000,000(3)        TBD

 40      FRIS Chicken                  $25,000,000      MSCI 2005-HQ6      Wells Fargo Bank,      CWCapital Asset Management LLC
                                       $25,000,000      ML-CFC 2007-5   National Association(4)


           B-NOTE        MEZZANINE
          ORIGINAL        ORIGINAL
LOAN #     BALANCE        BALANCE
-------------------------------------

  1           $0        $1,400,000,000



 40      $25,000,000          $0



(1)   Does not include two mortgage loans with only a subordinate companion
      loan, Detroit Riverview Medical Complex and St. Luke's Cornwall Medical
      Complex.

(2)   To be securitized in one or more future transactions by Wachovia Bank,
      National Association.

(3)   To be securitized in a future transaction by MLML.


(4)   Serviced pursuant to a pooling and servicing agreement in connection with
      a separate commercial mortgage securitizaton.

MORTGAGE POOL PREPAYMENT PROFILE
--------------------------------------------------------------------------------



                                      PERCENT OF REMAINING BALANCE ANALYSIS(1)

                                AGGREGATE          % OF REM         % OF REM       % OF REM       % OF REM
                                REMAINING          MORTGAGE         MORTGAGE       MORTGAGE       MORTGAGE
             NUMBER OF          PRINCIPAL        POOL BALANCE     POOL BALANCE   POOL BALANCE   POOL BALANCE
 PERIOD    MORTGAGE LOANS        BALANCE        LOCK OUT/DEF(2)      YM(3)        X% PEN(4)      LOCK OPEN     TOTAL
--------------------------------------------------------------------------------------------------------------------

3/1/2007        333         $4,417,019,866.04       95.93%            3.79%         0.28%          0.00%       100%
3/1/2008        333         $4,403,209,709.29       94.94%            4.78%         0.28%          0.00%       100%
3/1/2009        333         $4,387,035,108.66       89.23%           10.48%         0.28%          0.00%       100%
3/1/2010        333         $4,365,558,619.35       87.67%           11.70%         0.63%          0.00%       100%
3/1/2011        333         $4,339,732,834.52       84.92%           14.22%         0.86%          0.00%       100%
3/1/2012        322         $4,147,425,243.60       83.78%           14.62%         1.12%          0.48%       100%
3/1/2013        322         $4,108,237,856.30       83.79%           14.61%         1.11%          0.49%       100%
3/1/2014        315         $3,939,351,867.94       84.23%           14.12%         1.14%          0.50%       100%
3/1/2015        313         $3,878,844,331.09       83.63%           13.80%         1.14%          1.43%       100%
3/1/2016        293         $3,783,675,400.15       84.54%           13.93%         0.50%          1.04%       100%
3/1/2017         2          $    3,048,804.50       42.28%           57.72%         0.00%          0.00%       100%
3/1/2018         2          $    2,745,664.06       38.56%           61.44%         0.00%          0.00%       100%
3/1/2019         2          $    2,424,050.51       33.60%           66.40%         0.00%          0.00%       100%
3/1/2020         2          $    2,083,184.73       26.66%           73.34%         0.00%          0.00%       100%
3/1/2021         2          $    1,721,200.22       16.30%           83.70%         0.00%          0.00%       100%
3/1/2022         0          $              --        0.00%            0.00%         0.00%          0.00%        0%


(1)   Calculated assuming that no mortgage loan prepays, defaults or is
      repurchased prior to stated maturity (except that mortgage loans with
      anticipated repayment dates (ARD loans) are assumed to prepay on their
      anticipated repayment dates). Otherwise calculated based on Modeling
      Assumptions to be described in the offering prospectus.

(2)   Mortgage loans included in this category are locked out from prepayment,
      but may include periods during which defeasance is permitted.

(3)   Including mortgage loans that permit defeasance or prepayment with yield
      maintenance and mortgage loans that permit greater of yield maintenance
      cost and x% penalties.

(4)   Including mortgage loans that permit defeasance or x% penalties.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       15



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

TEN LARGEST MORTGAGE LOANS
--------------------------------------------------------------------------------




                                                          NUMBER OF
                                                          MORTGAGE                          SHADOW         % OF
                                                           LOANS/                           RATING        INITIAL
                                                          MORTGAGED     CUT-OFF DATE        FITCH/       MORTGAGE
                                              MORTGAGE      REAL         PRINCIPAL         MOODY'S/        POOL
LOAN #              LOAN NAME               LOAN SELLER   PROPERTIES      BALANCE           S&P(1)       BALANCE
------------------------------------------------------------------------------------------------------------------

  1.     Peter Cooper Village and              MLML         1      2   $  800,000,000   BBB-/Baa3/BBB-     18.1%
         Stuyvesant Town
  2.     Tower 45                              MLML         1      1      170,000,000                       3.8
  3.     Hotel Gansevoort                      CRF          1      1      125,000,000                       2.8
  4.     Renaissance Austin Hotel              MLML         1      1       83,000,000                       1.9
  5.     Resurgens Plaza                       Key          1      1       82,000,000                       1.9
  6.     HSA Memphis Industrial Portfolio      CRF          1     15       67,000,000                       1.5
  7.     Camp Hill Shopping Center             Key          1      1       65,000,000                       1.5
  8.     Medical Centre of Santa Monica        CRF          1      1       62,000,000                       1.4
  9.     Holiday Inn Express - Chelsea         IXIS         1      1       55,000,000                       1.2
 10.     Miami Airport Industrial Parks        CRF          1      1       53,500,000                       1.2
------------------------------------------------------------------------------------------------------------------
         TOTAL/WEIGHTED AVERAGE                            10     25   $1,562,500,000                      35.4%
==================================================================================================================


                                                                        LOAN
                                                                      BALANCE               CUT-OFF
                                             PROPERTY     PROPERTY    PER SF/     DSCR      DATE LTV
LOAN #              LOAN NAME                  TYPE        SIZE(2)    UNIT(3)    (X)(3)   RATIO (%)(3)
------------------------------------------------------------------------------------------------------

  1.     Peter Cooper Village and           Multifamily      11,227   $267,213    1.70x      55.6%
         Stuyvesant Town
  2.     Tower 45                             Office        443,956        383    1.17        52.3
  3.     Hotel Gansevoort                   Hospitality         187    668,449    1.49        61.3
  4.     Renaissance Austin Hotel           Hospitality         492    168,699    1.57        76.9
  5.     Resurgens Plaza                      Office        393,107        209    1.22        72.6
  6.     HSA Memphis Industrial Portfolio   Industrial    1,586,544         42    1.35        78.8
  7.     Camp Hill Shopping Center            Retail        466,195        139    1.20        74.8
  8.     Medical Centre of Santa Monica       Office        204,747        303    1.65        63.3
  9.     Holiday Inn Express - Chelsea      Hospitality         228    241,228    1.38        58.5
 10.     Miami Airport Industrial Parks     Industrial      746,189         72    1.37        79.9
------------------------------------------------------------------------------------------------------
         TOTAL/WEIGHTED AVERAGE                                                   1.53X      60.8%
======================================================================================================



_____________________

(1)   It has been confirmed by Fitch, Moody's and S&P, in accordance with their
      respective methodologies, that the credit characteristics of the subject
      mortgage loan are consistent with those of investment-grade rated
      obligations.

(2)   Property size is indicated in rooms (for hospitality properties), in
      dwelling units (for multifamily properties) and square feet for all other
      property types.

(3)   Calculations with respect to the Peter Cooper Village and Stuyvesant Town
      Loan are based on the aggregate principal balance of the Peter Cooper
      Village and Stuyvesant Town Loan Combination (as defined herein).


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       16



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

PETER COOPER VILLAGE AND STUYVESANT TOWN

                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           2
Location (City/State)                                              New York, NY
Property Type                                                       Multifamily
Size (Units)                                                             11,227
Percentage Physical Occupancy as of
     November 2006                                                         98.3%
Year Built                                                            1945-1949
Year Renovated                                                          Ongoing
Appraisal Value (As-Is) as of November 1, 2006                   $5,400,000,000
Appraisal Value (As-Stabilized) as of                            $6,900,000,000
     January 1, 2011
Land Value (As-Is) as of November 1, 2006                        $3,800,000,000
Average Monthly Rent Per Unit                                            $1,707
Underwritten Economic Occupancy(2)                                        96.9%
Underwritten Revenues(2)                                           $481,725,392
Underwritten Total Expenses2                                       $145,569,012
Underwritten Net Operating Income (NOI)(2)                         $336,156,380
Underwritten Net Cash Flow (NCF)(2)                                $333,909,980
2006 NOI                                                           $112,242,474
2005 NOI                                                            $98,862,497
2004 NOI                                                            $92,102,906
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                       MLML
Loan Group                                                                    2
Origination Date                                              November 17, 2006
Cut-off Date Principal Balance                                   $800,000,000(1)
Cut-off Date Loan Balance Per Unit(1)                                  $267,213
Percentage of Initial Mortgage Pool Balance                                18.1%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                            6.4340%
Amortization Type                                                 Interest Only
IO Period (Months)                                                          120
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         NAP
Call Protection                                            LO(27),Def(89),O(4)3
Lockbox                                                                    Hard
Cut-off Date LTV Ratio(1)                                                  55.6%
LTV Ratio at Maturity or ARD(1)                                            55.6%
Underwritten DSCR on NOI(1),(2)                                           1.71x
Underwritten DSCR on NCF(1),(2)                                           1.70x
Anticipated Shadow Rating (F/M/S)(4)                            BBB-/Baa3/BBB--
--------------------------------------------------------------------------------


(1)   The Peter Cooper Village and Stuyvesant Town loan was originated in the
      amount of $3,000,000,000 of which $800,000,000 is included in the trust.
      Multiple Pari Passu notes are expected to be securitized during 2007.
      Calculations of LTV, DSCR, and Cut-off Date Loan Balance Per Unit are
      based on the whole loan amount.

(2)   Underwritten Economic Occupancy, Underwritten Revenues, Underwritten Total
      Expenses, Underwritten Net Operating Income, Underwritten Net Cash Flow,
      Underwritten DSCR on NOI and Underwritten DSCR on NCF are based on
      underwritten cash flows for 2011 derived based on certain assumptions
      including the following: (1) an annual rate of conversion of units from
      rent-stabilized units to deregulated units consistent with a rate of
      conversion assumed by the appraisal of the mortgaged property, resulting
      in 6,397 deregulated units in existence by January 1, 2011, and (2)
      increases in (a) major capital improvements, (b) revenues from retail,
      professional and parking spaces and (c) real estate tax expenses, based on
      the appraisal's projections for 2011. Conversion of units from
      rent-stabilized units to deregulated units at a rate lower than the
      assumed rate would have a negative impact on the Underwritten DSCR on NOI
      and the Underwritten DSCR on NCF. The debt service coverage ratio
      calculated based on net operating income for 2006 is 0.58x. See "Risk
      Factors -- Litigation or Other Legal Proceedings May Have Adverse Effects
      on Borrowers" in the prospectus supplement.

(3)   Notwithstanding the "LO(27)" Designation, defeasance lock-out period
      expires 24 months following the securitization of the last Peter Cooper
      Village and Stuyvesant Town Pari Passu Note.

(4)   It has been comfirmed by Fitch, Moody's and S&P, in accordance with their
      respective methodologies, that the credit characteristics of the mortgage
      loan are consistent with those of investment-grade rated obligations.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       17



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       18



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       19



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                 [PHOTO OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       20



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Peter Cooper Village and Stuyvesant Town
Loan") is evidenced by a single promissory note and is secured by a fee simple
first mortgage encumbering a 56-building apartment complex (the "Peter Cooper
Village and Stuyvesant Town Property") situated on approximately 80.43 acres on
the island of Manhattan in New York, New York. The complex includes 11,227
apartments, approximately 117,712 square feet of retail and professional space
and 400,000 square feet of parking. The Peter Cooper Village and Stuyvesant Town
Loan represents approximately 18.1% of the initial mortgage pool balance and
approximately 66.4% of the initial loan group 2 balance.

The Peter Cooper Village and Stuyvesant Town Loan was originated on November 17,
2006 and has a principal balance as of the cut-off date of $800,000,000. The
Peter Cooper Village and Stuyvesant Town Loan has a remaining term of 117 months
and is scheduled to mature December 8, 2016. The Peter Cooper Village and
Stuyvesant Town Loan permits defeasance with United States government
obligations beginning two years after the securitization of the last Peter
Cooper Village and Stuyvesant Town Pari Passu Note. The loan may be prepaid
without penalty on or after September 8, 2016.

The Peter Cooper Village and Stuyvesant Town Loan is pari passu with other
promissory notes (the "Peter Cooper Village and Stuyvesant Town Pari Passu
Notes" and, together with the Peter Cooper Village and Stuyvesant Town Loan, the
"Peter Cooper Village and Stuyvesant Town Loan Combination") that have an
aggregate principal balance, including the Peter Cooper Village and Stuyvesant
Town Loan, of $3,000,000,000. The Peter Cooper Village and Stuyvesant Town Pari
Passu Notes are secured by the same mortgage as the Peter Cooper Village and
Stuyvesant Town Loan. The Peter Cooper Village and Stuyvesant Town Pari Passu
Notes are pari passu in right of payment and in other respects to the Peter
Cooper Village and Stuyvesant Town Loan and have the same interest rate,
maturity date and original term to maturity as the Peter Cooper Village and
Stuyvesant Town Loan. The Peter Cooper Village and Stuyvesant Town Pari Passu
Notes will be held outside of the trust and are expected to be securitized in
various transactions. The pooling and servicing agreement for Wachovia Bank
Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series
2007-C30 securitization will govern the servicing of the Peter Cooper Village
and Stuyvesant Town Loan Combination. The controlling class of the Wachovia
2007-C30 securitization have the right, in lieu of the controlling class
representative of the Series 2007-5 securitization, to direct and advise the
master servicer and the special servicer under the Wachovia 2007-C30 pooling and
servicing agreement on various servicing matters with respect to the mortgage
loans in the Peter Cooper Village and Stuyvesant Town Loan Combination and the
related mortgaged real property. See "Description of the Mortgage Pool -- The
Loan Combinations" in the prospectus supplement.

-----------------------------------
          FIRST MORTGAGE
          $3,000,000,000                Pari Passu Notes
                                        to be sold in various
47.7% Loan to Total Capitalization      conduit/fusion
   $267,213 per unit/$293 per sf        securitizations
Shadow Rated BBB-/Baa3/BBB- (F/M/S)
-----------------------------------

-----------------------------------
            MEZZANINE
          $1,400,000,000               To be privately
                                       placed
69.9% Loan to Total Capitalization
  $391,912 per unit/ $430 per sf
-----------------------------------

-----------------------------------
                                      Sponsor Cash                $1,000,000,000
                                      Acquisition Costs and Fees    $240,000,000
          SPONSOR EQUITY              Interest Reserve              $400,000,000
          $1,890,000,000              General Reserve               $190,000,000
                                      Cap Ex Reserve                 $60,000,000

-----------------------------------

THE PROPERTY. Built in response to the demand for housing generated by returning
veterans from World War II, MetLife developed both Peter Cooper Village and
Stuyvesant Town as a community-oriented residential enclave in the heart of New
York City. Stuyvesant Town and Peter Cooper Village together comprise 11,232
units (11,227 units of which are rentable) throughout 110 buildings on 80.43
contiguous acres on the island of Manhattan. Stuyvesant Town contains 8,746
units in 35 buildings with 89 separate addresses and Peter Cooper Village
contains 2,481 units in 21 buildings. Gross building area for Stuyvesant Town
and Peter Cooper Village is 8,942,176 sq. ft. and 3,122,165 sq. ft.,
respectively. Between the two complexes, the net rentable area is 10,750,670 sq.
ft. broken down as follows: Residential: 10,232,958, Retail: 98,039, Office:
19,673, Parking: 400,000. The 10,232,958 rentable sq. ft. of residential space
indicates an average unit size of 911 sq. ft. The rentable unit mix is as
follows: 5,740 one bedroom units; 4,976 two bedroom


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       21



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

units; 472 three bedroom units; 2 four bedroom units; and 37 five bedroom
units. The grounds include open landscaped areas, 15 playgrounds, designated
sports areas, and the signature Stuyvesant Oval fountain. There are 2,260
licensed parking spaces across six parking garages; laundry facilities and
rentable storage services operated by U-haul. Onsite retailers offer
neighborhood conveniences as grocery stores, banking centers, dry cleaning,
movie rentals and apparel outlets.

Currently, approximately 73% of the apartments at the Peter Cooper Village and
Stuyvesant Town Property are rent stabilized. Rent stabilized leases can be 1
or 2 years in length at the option of the tenant. The rental rate that may be
charged for a particular rent stabilized apartment is determined by criteria
established by the State of New York. An apartment may become deregulated (or
destabilized) if it becomes vacant or if criteria involving the legal rental
rate level and occupant income levels are met.

PETER COOPER VILLAGE AND STUYVESANT TOWN PROPERTY UNIT MIX:



-------------------------------------------------------------------------------------------------------------------------
                                                  PETER COOPER VILLAGE

                                                AVG           PERCENT OF       AVG             AVG            MONTHLY
UNIT TYPE                  UNIT COUNT(1)   SQUARE FOOT(1)     PCV TOTAL   MONTHLY RENT(1)  RENT PER SF(1)  MARKET RENT(2)
-------------------------------------------------------------------------------------------------------------------------

Deregulated 1 BR                 403             948            16.2%         $2,768          $35.04          $3,595
Deregulated 2 BR                 267           1,224            10.8           3,747           36.74           4,641
Deregulated 3 BR                   3           2,162             0.1           6,520           36.19           8,198
-------------------------------------------------------------------------------------------------------------------------
DEREGULATED TOTALS               673           1,063            27.1%         $3,173          $35.83          $4,031
Stabilized 1 BR                  776             947            31.3%         $1,183          $15.00          $3,595
Stabilized 2 BR                  957           1,223            38.6           1,457           14.30           4,641
Stabilized 3 BR                   17           1,489             0.7           1,619           13.04           8,198
Stabilized 4 BR                    1           2,441             0.0           2,705           13.30           8,426
-------------------------------------------------------------------------------------------------------------------------
STABILIZED TOTALS              1,751           1,103            70.6%         $1,338          $14.55          $4,214

TOTAL OCCUPIED UNITS           2,424           1,092            97.7%          1,848          $20.30          $4,082

Vacant 1 BR                       30             947             1.2%            N/A             N/A           3,595
Vacant 2 BR                       27           1,225             1.1             N/A             N/A           4,641
-------------------------------------------------------------------------------------------------------------------------
VACANT TOTALS                     57           1,078             2.3%            N/A             N/A          $4,090
-------------------------------------------------------------------------------------------------------------------------
PCV TOTALS/WTD. AVG            2,481           1,092           100.0%         $1,848          $20.30          $4,161
-------------------------------------------------------------------------------------------------------------------------




-------------------------------------------------------------------------------------------------------------------------
                                                     STUYVESANT TOWN

                                                AVG           PERCENT OF       AVG             AVG            MONTHLY
UNIT TYPE                  UNIT COUNT(1)   SQUARE FOOT(1)      ST TOTAL   MONTHLY RENT(1)  RENT PER SF(1)  MARKET RENT(2)
-------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------

Deregulated 1 BR                1,386            755            15.8%         $2,504          $39.79          $2,926
Deregulated 2 BR                  872            943            10.0           3,018           38.39           3,658
Deregulated 3 BR                   65          1,165             0.7           4,084           42.06           4,511
Deregulated 4 BR                    1          1,753             0.0           4,950           33.88           6,793
Deregulated 5 BR                    6          1,698             0.1           5,754           40.67           6,580
-------------------------------------------------------------------------------------------------------------------------
DEREGULATED TOTALS              2,330            840            26.6%         $2,750          $39.29          $3,255

Stabilized 1 BR                 3,096            755            35.4%         $1,125          $17.88          $2,926
Stabilized 2 BR                 2,779            943            31.8           1,380           17.55           3,658
Stabilized 3 BR                   381          1,161             4.4           1,544           15.96           4,511
Stabilized 4 BR                                                                  0.0               0           6,793
Stabilized 5 BR                    31          1,681             0.4           1,958           13.98           6,580
-------------------------------------------------------------------------------------------------------------------------
STABILIZED TOTALS               6,287            867            71.9%         $1,267          $17.53          $3,364

TOTAL OCCUPIED UNITS            8,617            860            98.5%         $1,668          $23.27          $3,335
Vacant 1 BR                        49            751             0.6%            N/A             N/A          $2,926
Vacant 2 BR                        74            943             0.8             N/A             N/A           3,658
Vacant 3 BR                         6          1,145             0.1             N/A             N/A           4,511
-------------------------------------------------------------------------------------------------------------------------
VACANT TOTALS                     129            880             1.5%            N/A             N/A          $3,420
-------------------------------------------------------------------------------------------------------------------------
ST TOTALS/WTD. AVG              8,746            860           100.0%         $1,668          $23.27          $3,336
-------------------------------------------------------------------------------------------------------------------------
PCV/ST TOTALS/WTD. AVG         11,227            911          100.00%         $1,707          $22.49          $3,518
-------------------------------------------------------------------------------------------------------------------------


(1)   Information obtained from the Peter Cooper Village and Stuyvesant Town
      Borrower's rent roll dated November 2006.

(2)   Information obtained from Appraisal dated November 10, 2006.

This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       22



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

The borrower is expected to spend approximately $125 million in capital
expenditures at the Peter Cooper Village and Stuyvesant Town Property financed
through amounts on deposit in the General Reserve. Individual apartments are
extensively renovated on an ongoing basis as they move to a deregulated status.
Under past ownership, renovated units were given new kitchens and bathrooms.
Kitchens improvements included include maple wood cabinets, granite countertops,
new stainless steel sinks, ceramic tile flooring, and a new appliance package.
Bathroom improvements included marble walls, marble tile flooring, granite
counter tops, and new porcelain bathroom fixtures. Additional upgrades included
new air conditioning units, wall sconces, and window shades. The original
parquet flooring is still utilized but was refinished in these units. It is
expected that the new ownership will exceed this level of unit renovation
quality.

In addition to the unit renovation, major improvements at the property are
expected to enhance the overall quality of life at the Peter Cooper Village and
Stuyvesant Town Property. Among the options under consideration are:
installation of roof decks to take advantage the views provided by approximately
80.43 acres of buildings that are of roughly the same height; creation of a
central Fitness Center together with multiple satellite locations, upgrading the
entrance to Stuyvesant Town, improving lighting on the site, updating signage,
providing shuttle busses both within the site and to and from local subways, and
reworking the retail concepts along First Avenue.

HISTORICAL OCCUPANCY AND AVERAGE MONTHLY RENTS:

Historical occupancies at the Peter Cooper Village and Stuyvesant Town Property
over the past five years are as follows: 2002 - 97%; 2003 -- 98%; 2004 -- 98%;
2005 -- 98%; 2006 -- 98%. The average monthly rents for the deregulated units at
Peter Cooper Village over the past three years are $2,757, $2,864 and $3,198 for
2004, 2005 and 2006, respectively. The average monthly rents for the stabilized
units at Peter Cooper Village over the past three years are $1,183, $1,247 and
$1,292 for 2004, 2005 and 2006, respectively. The average monthly rents for the
deregulated units at Stuyvesant Town over the past three years are $2,333,
$2,464 and $2,767 for 2004, 2005 and 2006, respectively. The average monthly
rents for the stabilized units at Stuyvesant Town over the past three years are
$1,165, $1,202 and $1,241 for 2004, 2005 and 2006, respectively.

THE MARKET.(1) The Peter Cooper Village and Stuyvesant Town Property occupies
approximately 80.43 acres below Midtown on the east side of the island of
Manhattan. The site occupies the area bounded by East 14th and 23rd Streets and
First Avenue and Avenue C, and is immediately surrounded by the residential
neighborhoods of Murray Hill and Kips Bay to the north, Gramercy Park to the
west, and the East Village and Lower East Side to the south. These neighborhoods
are predominantly residential with retail use along the avenues.

The Manhattan residential market represents one borough of the five which make
up the larger New York City residential market. This market is the largest
housing market in the United States consisting of over three million housing
units. Within this market, rental units are the largest housing category, making
up approximately 68% of inventory. The net vacancy for units available for rent
in the city was 3.09% according to the 2005 New York City Housing and Vacancy
Survey. In 2005, 4,185 new housing units were delivered to the overall market;
this was above the trailing four year average of 3,163. Rental rates increased
during 2005, with REIS reporting increases of 1.2% in effective rents for the
fourth quarter of 2005 and 5.4% for the year.

The Manhattan residential market has 737,768 housing units according to the 2005
Housing and Vacancy Survey. Net vacancy for Manhattan in 2005 was 3.79%. Between
1995 and 2005, the number of new housing unit permits averaged 4,549.
Approximately 2,400 apartment units are scheduled for delivery in 2007 and 2008
in Manhattan. According to the appraisal of the properties dated November 10,
2006, annual rents for buildings comparable to Stuyvesant Town and Peter Cooper
Village in the neighborhoods surrounding the properties are $40.67 per sq. ft.
for one bedroom apartments, $41.46 per sq. ft. for two bedroom apartments,
$53.83 per sq. ft. for three bedroom apartments, and $48.85 per sq. ft. for four
bedroom apartments.

THE BORROWER. The borrower is PCV ST Owner LP, a Delaware limited partnership,
which was formed exclusively to own Peter Cooper Village and Stuyvesant Town.
PCV ST Owner LP as of February 16, 2007, has transferred Stuyvesant Town to ST
Owner LP, a Delaware limited partnership formed exclusively to own Stuyvesant
Town, and PCV ST Owner LP and ST Owner LP are jointly and severally liable as
the borrower under the Peter Cooper Village and Stuyvesant Town Loan. Each
Borrower is permitted to own the property that it owns together with personal
property related thereto and to be a borrower under the Peter Cooper Village and
Stuyvesant Town Loan. Each Borrower is approximately indirectly 11% owned,
through various subsidiary entities, by Tishman Speyer and Blackrock Realty
Advisors, Inc.

Tishman Speyer is a privately held company based in New York City engaged in
owning, developing, and operating real estate around the world. Since 1978,
Tishman Speyer has acquired, built or developed more than 142 properties
totaling over 77 million square feet representing over $24 billion USD in total
value across the United States, Europe and Latin America. The company owns
and/or manages the following buildings in Manhattan: 300 Park Avenue, 375 Hudson
Street, 520 Madison Avenue, 666 Fifth Avenue, The Chrysler Building, Rockefeller
Center, The Lipstick Building, and The MetLife Building.

BlackRock Realty Advisors is a real estate investment manager with $9.6 billion
in real estate equity assets under management on behalf of public, corporate,
and Taft-Hartley pension plans, foundations, endowments, and private investors.
These investments span a wide range of strategies, including core, value-added
and opportunistic equity and high-yield debt. The firm offers investments in
open-end and closed-end funds and separate account structures. BlackRock Realty
Advisors' parent, BlackRock, is 49% owned by Merrill Lynch.

(1)   Certain information obtained from the appraisal of the Peter Cooper
      Village and Stuyvesant Town Property dated November 10, 2006. The
      appraisal relies upon many assumptions, and no representation is made as
      to the accuracy of those assumptions.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       23



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

PROPERTY MANAGEMENT. The Peter Cooper Village and Stuyvesant Town Property is
currently managed by Rose Associates, Inc, a management company operating in
the New York market. Beginning April 1, 2007, the Peter Cooper Village and
Stuyvesant Town Property is expected to be managed by affiliates of either
Tishman Speyer Properties, L.P. or Blackrock Financial Management, or such
other manager as approved by lender.

LOCKBOX. A hard lockbox with cash management structure is in place. All excess
cash is trapped in the general reserve until such time that the debt service
coverage ratio is 1.20x or higher for two consecutive quarters and no
"mezzanine accrual period". Thereafter all excess cash will be distributed to
the borrower. "Mezzanine Accrual Period" will exist if the borrower under
either of the two most Junior Mezzanine Loans Elects, as permitted under the
loan documents, to have the applicable monthly Debt Service Payments accrue on
the balance of the mezzanine loan in lieu of making such payments monthly. The
borrower may be permitted to use cash flow to make certain distributions to its
partners to meet certain tax requirements applicable to its tax exempt partners
provided no such distributions are permitted during the first five years of the
loan term if a cash sweep period exists and the aggregate amount of all such
distributions cannot exceed $16,700,000.

ESCROWS.

         ---------------------------------------------------------------
                              ESCROWS / RESERVES
                              ------------------
         TYPE:                               INITIAL         MONTHLY
         ---------------------------------------------------------------
         Taxes                              $3,539,035     $3,539,035
         Insurance                            $987,198       $493,599
         Capital Expenditures Reserve      $60,000,000             $0(1)
         General/Interest Reserve         $590,000,000             $0
         ---------------------------------------------------------------

(1)   $234,000 per month to the extent of available cash flow after the payment
      of mortgage and mezzanine debt service.

GENERAL RESERVE/INTEREST RESERVE. A "General Reserve" of $590,000,000 was
established at closing. $400,000,000 can be used for the payment of mortgage
and mezzanine loan debt service and $190,000,000 can be used at the discretion
of the borrower to pay for expenses related to the Peter Cooper Village and
Stuyvesant Town Property provided that no more than $85,000,000 can be used for
the payment of asset management fees or acquisition fees pertaining to the
syndication of the equity. If at any time the debt service coverage ratio is
1.20x or higher for two consecutive calendar quarters, the balance of the funds
on deposit in the General Reserve will be released to borrower. Notwithstanding
the foregoing, from and after January 1, 2010, at such time the debt service
coverage ratio for the Peter Cooper Village and Stuyvesant Town Loan is 1.0x or
greater for 2 consecutive calendar quarters (a) the debt service component will
be converted to and become a part of the discretionary component and (b) the
cap on the amount that can be disbursed for the payment of asset management
fees will be increased from $85,000,000 to $95,000,000.

ADDITIONAL INDEBTEDNESS.  Borrower is permitted to obtain up to $300,000,000 of
pari passu mortgage debt or subordinate mezzanine debt at any time between
November 8, 2011 and May 8, 2013 provided that such additional financing will
not result in a debt service coverage ratio less than 1.30x or a loan-to-value
ratio greater than 70% and borrower has delivered a rating agency confirmation.
Such debt can relate to one or both properties at borrower's election.

MEZZANINE DEBT. 11 mezzanine borrowers (named PCV ST Mezz 1-11 LP and ST Mezz
1-11 LP) have incurred mezzanine debt for an aggregate total of $1,400,000,000
secured by their direct or indirect equity interests in PCV ST Owner LP and ST
Owner LP. The mezzanine debt is scheduled to mature on December 8, 2016.

SEVERANCE\RELEASE. Subject to the prepayment lockout period, borrower can
release (a) an individual property upon partial defeasance of 110% of the
allocated loan amount, (b) one or more individual buildings or parcels of
undeveloped land that are a part of a Peter Cooper Village and Stuyvesant Town
Property upon partial defeasance of an amount equal to the greater of (1) 110%
of the appraised value of such building or parcel as determined by an appraisal
dated not more than 120 days prior to the release and (2) if applicable, the
disposition proceeds from the collateral being released, (c) without partial
defeasance, certain "development rights" upon the payment of an amount equal to
the greater of (1) the disposition proceeds related to the rights that are the
subject of a sale, transfer or refinancing and (2) $225.00 per sq. ft. of
rights being released provided that any such release of development rights must
be accompanied by the applicable yield maintenance premium and (d) without
partial defeasance, release of a portion of the mortgaged property subject to
casualty or condemnation, upon the payment of an amount equal to 100% of the
fair market value of the released parcel immediately prior to such casualty or
condemnation. The release of either Stuyvesant Town or Peter Cooper Village is
subject to the other property having a debt service coverage ratio of not less
than the greater of (A) 1.0x or (B) the debt service coverage ratio immediately
prior to the release and a loan-to-value ratio of not more than 70%. Each
release of a building or parcel (other than a connection with a condemnation)
is subject to the remainder of the Peter Cooper Village and Stuyvesant Town
Property (i) for the first 10 releases (including development rights releases),
having a debt service coverage ratio of not less than the lesser of (A) debt
service coverage ratio immediately prior to the release and (B) 1.0x, and (ii)
for each release thereafter, a debt service coverage ratio of not less than
1.0x and in each instance after the release of 10 buildings or parcels
(including development rights releases), a loan-to-value ratio of not more than
70%. The release of either Stuyvesant Town or Peter Cooper Village and the
release of a building or a parcel (but not the release of development rights)
will also require a rating agency confirmation. Any prepayment received in
connection with an individual property release will be applied pro rata to each
of the mortgage notes based on the principal amount evidenced by each such
note. Any prepayment in connection with a development rights release or a
building or parcel release will be allocated among the mortgage loan and each
of the mezzanine loans pro rata based on the principal balance of the mortgage
loan and each such mezzanine loan.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       24



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

TOWER 45


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                              New York, NY
Property Type                                                            Office
Size (Square Feet)                                                      443,956
Percentage Physical Occupancy as of October 31, 2006                     100.0%
Year Built                                                                 1989
Year Renovated                                                              NAP
Appraisal Value                                                    $325,000,000
# of Tenant Leases                                                           52
Average Rent Per Square Foot                                             $48.07
Underwritten Economic Occupancy                                           98.2%
Underwritten Revenues                                               $24,095,283
Underwritten Total Expenses                                         $11,173,354
Underwritten Net Operating Income (NOI)                             $12,921,928
Underwritten Net Cash Flow (NCF)                                    $12,366,983
Trailing 12 NOI (as of October 31, 2006)                            $11,090,546
2005 NOI                                                            $10,045,955
2004 NOI                                                            $13,550,918
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                       MLML
Loan Group                                                                    1
Origination Date                                               January 25, 2007
Cut-off Date Principal Balance                                     $170,000,000
Cut-off Date Loan Balance Per SF/Unit                                      $383
Percentage of Initial Mortgage Pool Balance                                3.8%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                              Fee and Leasehold
Mortgage Rate                                                           6.1230%
Amortization Type                                                 Interest Only
IO Period (Months)                                                          120
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         NAP
Original Call Protection                                    LO(25),Def(92),O(3)
Lockbox                                                                    Hard
Cut-off Date LTV Ratio                                                    52.3%
LTV Ratio at Maturity or ARD                                              52.3%
Underwritten DSCR on NOI                                                  1.22x
Underwritten DSCR on NCF                                                  1.17x
--------------------------------------------------------------------------------


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       25



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       26



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Tower 45 Loan") is evidenced by a single
promissory note and is secured by a first priority fee and leasehold mortgage
encumbering an office building (the "Tower 45 Property") located in New York,
New York. The Tower 45 Loan represents approximately 3.8% of the initial
mortgage pool balance and approximately 5.3% of the initial loan group 1
balance.

The Tower 45 Loan was originated on January 25, 2007 and has a principal balance
as of the cut-off date of $170,000,000. The Tower 45 Loan has a remaining term
of 119 months to its maturity date of February 8, 2017. The Tower 45 Loan may be
prepaid on or after December 8, 2016 without penalty, and permits defeasance
with United States government obligations beginning two years after the creation
of the Series 2007-5 securitization trust.

THE PROPERTY. The Tower 45 Loan is secured by the fee and leasehold interest in
a 40-story multi-tenant office building with 443,956 square feet of net rentable
area and is located on the south side of West 45th Street through block to West
44th Street between Avenue of the Americas and Seventh Avenue in the Plaza
District sub market of Midtown Manhattan. The Tower 45 Property is currently
100.0% leased to 26 office tenants, two retail tenants and one parking garage
tenant. The largest tenant is D.E. Shaw & Company L.P. who leases over 43.4% of
the total net rentable area. Other major tenants include Pzena Investment
Management (24,958 sq. ft.) and NEC Business Network Solutions (15,981 sq. ft.).

The following table presents certain information relating to the major tenants
at the Tower 45 Property:



------------------------------------------------------------------------------------------------------------------------------------
                                                         TENANT INFORMATION
                                                         ------------------

                                                                CREDIT RATINGS       SQUARE   % OF    BASE RENT        LEASE
TENANT NAME                            PARENT COMPANY       (FITCH/MOODY'S/S&P)(1)    FEET    GLA        PSF         EXPIRATION
------------------------------------------------------------------------------------------------------------------------------------

D.E. Shaw & Company L.P.                   NAP                       NR             192,837   43.4%    $48.23         Various(2)
Pzena Investment Management                NAP                       NR              24,958    5.6%    $48.00     September 30, 2015
NEC Business Network Solutions  NEC Unified Solutions, Inc.          NR              15,981    3.6%    $55.00     September 30, 2011
------------------------------------------------------------------------------------------------------------------------------------


(1)   Ratings provided are for the entity identified in the "Parent Company"
      column whether or not the Parent Company guarantees the lease.

(2)   9,711 sq. ft. expires February 28, 2007; 76,284 sq. ft. expires March 31,
      2011; 37,638 sq. ft. expires May 31, 2015; and 69,204 sq. ft. expires
      March 31, 2017.

The following table presents certain information relating to the lease rollover
schedule at the Tower 45 Property:



-----------------------------------------------------------------------------------------------------------------------------
                                                 LEASE ROLLOVER SCHEDULE(1)
                                                 --------------------------

                          NUMBER                                                      % OF       CUMULATIVE    CUMULATIVE
                         OF LEASES    SQUARE FEET      % OF GLA      BASE RENT      BASE RENT   SQUARE FEET     % OF GLA
YEAR                     EXPIRING      EXPIRING        EXPIRING      EXPIRING       EXPIRING      EXPIRING      EXPIRING
-----------------------------------------------------------------------------------------------------------------------------

Vacant                     NAP               0            0.0%      $         0         0.0%            0          0.0%
MTM                         1              126            0.0                 0         0.0           126          0.0
2007                        2           14,024            3.2           560,960         2.6        14,150          3.2
2008                        4           12,152            2.7           515,596         2.4        26,302          5.9
2009                        4           28,697            6.5         1,293,924         6.1        54,999         12.4
2010                        4            8,041            1.8           394,086         1.8        63,040         14.2
2011                        11         125,933           28.4         6,169,988        28.9       188,973         42.6
2012                        5           36,515            8.2         1,873,049         8.8       225,488         50.8
2013                        4           31,111            7.0         1,492,401         7.0       256,599         57.8
2014                        1           12,355            2.8           543,620         2.5       268,954         60.6
2015                        6           81,954           18.5         4,016,923        18.8       350,908         79.0
2016                        1           12,479            2.8           598,992         2.8       363,387         81.9
2017                        6           69,204           15.6         3,358,811        15.7       432,591         97.4
(greater than) 2017         3           11,365            2.6           523,020         2.5       443,956        100.0
-----------------------------------------------------------------------------------------------------------------------------
TOTAL                       52         443,956          100.0%      $21,341,370       100.0%
-----------------------------------------------------------------------------------------------------------------------------


------------------------------------------------------------
                 LEASE ROLLOVER SCHEDULE(1)
                 --------------------------

                                      CUMULATIVE
                         CUMULATIVE      % OF
                         BASE RENT     BASE RENT    ANNUAL
 YEAR                    EXPIRING      EXPIRING    RENT PSF
------------------------------------------------------------

 Vacant                 $         0       0.0%     $  0.00
 MTM                              0       0.0         0.00
 2007                       560,960       2.6        40.00
 2008                     1,076,556       5.0        42.43
 2009                     2,370,480      11.1        45.09
 2010                     2,764,566      13.0        49.01
 2011                     8,934,554      41.9        48.99
 2012                    10,807,603      50.6        51.30
 2013                    12,300,004      57.6        47.97
 2014                    12,843,624      60.2        44.00
 2015                    16,860,547      79.0        49.01
 2016                    17,459,539      81.8        48.00
 2017                    20,818,350      97.5        48.53
 (greater than) 2017     21,341,370     100.0        46.02
------------------------------------------------------------
 TOTAL
------------------------------------------------------------


(1)   Information obtained from Tower 45 Borrower's rent roll dated October 31,
      2006.

THE MARKET.(1) The Tower 45 Property is located in the Plaza District ("Plaza
District") submarket of Manhattan. The Plaza District has historically
evidenced the highest rents in Midtown due to the demand generated by its
premier location and quality space. The average direct primary (Class A) asking
rental rate in the four Plaza District sub districts averaged $72.25 in the
third quarter of 2006, considerably above the overall direct primary Midtown
average of $60.71.

(1)   Certain information obtained from the appraisal of the Tower 45 Property
      dated December 5, 2006. The appraisal relies upon many assumptions, and no
      representation is made as to the accuracy of those assumptions.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       27



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

The attractiveness of the Plaza District is reflected by the presence of
numerous top firms in a diverse array of businesses, including domestic and
international banking, legal services, manufacturing, securities/holdings,
printing and publishing, advertising and communications. Seventeen Fortune 500
Industrial companies have headquarters in the Plaza District, including RJR
Nabisco Holdings, Bristol-Myers Squibb and Colgate-Palmolive. There are about
two dozen Fortune 500 Service companies in the Plaza District as well, notably,
Chase Manhattan Bank, Citicorp, Time Warner and Bear Stearns.

The Plaza District boasts several first class hotels that offer luxury
accommodations to business travelers and tourists. Several of New York's finest
hotels are located in the immediate vicinity of the Tower 45 Property, including
The Parker Meridian, The Ritz-Carlton and The Plaza. Within walking distance are
the New York Palace, the St. Regis Hotel, The Four Seasons, as well as The
Waldorf-Astoria. More moderately priced hotels are found in the Tower 45
Property's immediate vicinity as well, including the Salisbury, the Helmsley
Windsor, the Wyndham and the New York Hilton.

Many of New York's most famous attractions are located in and near the Plaza
District. East of the Tower 45 Property on Fifth Avenue is St. Patrick's
Cathedral and the renowned Rockefeller Center. Short walks from the Tower 45
Property are the United Nations, Radio City Music Hall, the Museum of Modern
Art, the New York Public Library and Central Park. Notable restaurants within
the District include Lutece, Smith & Wollensky, "21" Club, The Sea Grill, the
Rainbow Room, China Grill, The Four Seasons and La Reserve.

The Property is accessible from all major Manhattan commuter transportation
hubs. Grand Central Station is a short walk away from the Tower 45 Property.
Commuters arriving at the Port Authority Bus Terminal may also reach the Tower
45 Property by the Times Square Shuttle to Grand Central Terminal.

THE BORROWERS. The borrowers obligated under the promissory note for the Tower
45 Loan are SLG Tower 45 LLC (the "Tower 45 Fee Borrower") and SLG Tower 45
Lessee LLC (the "Tower 45 Leasehold Borrower), (collectively, the "Tower 45
Borrower"). Each Tower 45 Borrower is a single-purpose, bankruptcy remote
entity. SLG Tower 45 Lessee LLC is owned and controlled by SL Green Realty Corp.
(the " Tower 45 Sponsor"), a self-administered and self-managed real estate
investment trust, or REIT, that predominantly acquires, owns, repositions and
manages a portfolio of Manhattan office properties. The Tower 45 Sponsor is the
only publicly held REIT that specializes exclusively in this niche. As of
December 31, 2006, the Tower 45 Sponsor owned 28 office properties totaling 19.0
million square feet. The Tower 45 Sponsor's retail space ownership totals
296,000 square feet at eight properties.

REVERSE 1031 EXCHANGE. At loan origination, the Tower 45 Property was subject to
a reverse 1031 exchange transaction. SLG Tower 45 LLC is owned and controlled by
Building Exchange Company, in its capacity as an "exchange accommodation
titleholder," as defined in Revenue Procedure 2000-37, 2000-2 C/B 308
promulgated under the Internal Revenue Code. Tower 45 Fee Borrower and Tower 45
Leasehold Borrower have entered into a triple net master lease with Tower 45 Fee
Borrower as landlord and Tower 45 Leasehold Borrower as tenant. The reverse 1031
exchange is required to be completed within 180 days of the loan origination, at
which time, Building Exchange Company will transfer the equity in Tower 45 Fee
Borrower to the Tower 45 Sponsor or an affiliate of SL Green Operating
Partnership, L.P. and the master lease will be terminated. Upon consummation of
the reverse 1031 exchange transaction, the Tower 45 Loan will have one borrower,
Tower 45 Fee Borrower, which will be owned and controlled by the Tower 45
Sponsor. Tower 45 Borrower's failure to comply with the covenants in the loan
documents pertaining to the reverse 1031 exchange transaction is an event of
default under the loan documents, and the Tower 45 Loan is recourse to the Tower
45 Sponsor for losses lender suffers if the reverse 1031 exchange does not occur
in accordance with the terms and conditions of the loan documents.

PROPERTY MANAGEMENT. The property is managed by SL Green Management, LLC, an
affiliate of the Tower 45 Sponsor.

LOCKBOX. All tenants at the Tower 45 Property are required to make their monthly
rental payments directly into a cash management account controlled by the
lender. All funds in the cash management account shall be applied by lender with
the following priority: (i) monthly interest payment and any required reserve
account deposits due to lender pursuant to the loan documents, (ii) other
amounts, if any, due lender under the loan documents, and (iii) prior to a
default, the balance to be paid to Tower 45 Borrower.

ESCROWS. The following escrow/reserve accounts have been established with
respect to Tower 45 Loan:

         ------------------------------------------------------------
                              ESCROWS / RESERVES
                              ------------------

         TYPE:                               INITIAL         MONTHLY
         ------------------------------------------------------------
         Tax                                $1,103,388       $551,694
         Insurance                             $56,154        $11,231
         Replacement Reserves                   $9,249         $9,249

ADDITIONAL DEBT. Solely in connection with the reverse 1031 exchange
transaction, the Tower 45 Loan has subordinate debt that is not secured by the
Tower 45 Property, but is secured by the equity interests in the Tower 45 Fee
Borrower. An affiliate of Sponsor, SL Green Funding LLC, loaned $140,671,602 to
Building Exchange Company to be used for the acquisition of the Tower 45
Property. This junior loan is subject to a subordination and standstill
agreement with lender and must be satisfied in full at the time the reverse 1031
exchange is consummated.

RELEASE PROVISIONS. None

SUBSTITUTION PROVISIONS. None


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       28



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

HOTEL GANSEVOORT


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                              New York, NY
Property Type                                                       Hospitality
Size (Rooms)                                                                187
Percentage Physical Occupancy as of
     December 31, 2006                                                    83.9%
Year Built                                                                 2004
Appraisal Value                                                    $204,000,000
Underwritten Economic Occupancy                                           83.9%
Underwritten Revenues                                               $30,321,686
Underwritten Total Expenses                                         $14,679,500
Underwritten Net Operating Income (NOI)                             $15,642,186
Underwritten Net Cash Flow (NCF)                                    $14,425,953
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        CRF
Loan Group                                                                    1
Origination Date                                              February 13, 2007
Cut-off Date Principal Balance                                     $125,000,000
Cut-off Date Loan Balance Per Room                                     $668,449
Percentage of Initial Mortgage Pool Balance                                2.8%
Number of Mortgage Loans                                                      1
Type of Security (fee/leasehold)                                            Fee
Mortgage Rate                                                           6.4700%
Amortization Type                                                    IO-Balloon
IO Period (Months)                                                           24
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         336
Original Call Protection                                    LO(24),Def(92),O(4)
Lockbox                                                                    Hard
Cut-off Date LTV Ratio                                                    61.3%
LTV Ratio at Maturity or ARD                                              53.7%
Underwritten DSCR on NOI(1)                                               1.62x
Underwritten DSCR on NCF(2)                                               1.49x
--------------------------------------------------------------------------------


1     The Underwritten DSCR on NOI during the interest only period is 1.90x.

2     The Underwritten DSCR on NCF during the interest only period is 1.75x.



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that
ultimately are not sold. The information contained in this material may be
based on assumptions regarding market conditions and other matters as reflected
herein. The Underwriters make no representation regarding the likelihood that
any of such assumptions will coincide with actual market conditions or events.
The Underwriters and their 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 herein or derivatives thereof (including
options). Information contained in this material is current as of the date
appearing in this material only. INFORMATION IN THIS MATERIAL REGARDING ANY
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION
REGARDING SUCH ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED
BY THE INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE
TIME OF SALE. The Underwriters are acting as underwriters and not acting as
agents for the issuer in connection with the proposed transaction.

                                       29



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       30



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Hotel Gansevoort Loan") is evidenced by a
single promissory note secured by a first priority mortgage encumbering a full
service luxury hotel located in New York, New York (the "Hotel Gansevoort
Property"). The Hotel Gansevoort Loan represents approximately 2.8% of the
initial mortgage pool balance and approximately 3.9% of the initial loan group 1
balance.

The Hotel Gansevoort Loan was originated on February 13, 2007, and has a
principal balance as of the cut-off date of $125,000,000. The Hotel Gansevoort
Loan has a remaining term of 120 months and a scheduled maturity date of March
8, 2017. The Hotel Gansevoort Loan permits defeasance of the entire loan with
United States Treasury obligations or other non-callable government securities
beginning two years after the creation of the securitization trust. Voluntary
prepayment of the Hotel Gansevoort Loan is permitted on or after December 8,
2016, without penalty.

THE PROPERTY. The Hotel Gansevoort Property is a 187-room full service, luxury
hotel, located in the heart of Manhattan's Meatpacking District, which opened in
March of 2004. Amenities at the property include a heated rooftop pool and
garden with 360 degree views of Manhattan and the Hudson River, the
indoor/outdoor 2-story Ono restaurant and bar owned by Jeffrey Chodorow, which
opened in 2004 ($11 million invested by tenant in improvements), a rooftop event
loft and lounge (which caters to large corporate and high net worth individual's
events), leased retail space, 2 meeting rooms and the 3,500 square foot G Spa
and Lounge, which opened in January, 2006.

The guest rooms are outfitted with feather beds, Egyptian cotton linens, plasma
screen TVs, high-speed internet access, Sony CD players, multi-line telephones
with voice mail and data line capabilities and safes that accommodate a laptop
computer. The hotel's suites include Bose 3-2-1 home entertainment systems,
cordless telephones and balconies. Additional hotel amenities include: WiFi
throughout the entire hotel, a fitness center, 24-hour room service, concierge,
business center and same day laundry/dry cleaning services. Additionally, the
hotel has arranged for a 24-hour car service for hotel guests and rooftop bar
patrons.

The following tables present certain information regarding the Hotel Gansevoort
Loan Property.

--------------------------------------------------------------------------------
                             OPERATIONAL STATISTICS
                                2005          2006       APPRAISAL        UW
--------------------------------------------------------------------------------
Average Daily Rate (ADR)      $ 388.46      $ 434.55      $ 443.68     $ 434.56
Occupancy %                      83.90%        83.93%        82.00%       83.93%
RevPAR                        $ 325.92      $ 364.72      $ 363.82     $ 364.72

--------------------------------------------------------------------------------
                              PENETRATION INDICES(1)
   PROPERTY NAME             ADR INDEX       OCCUPANCY INDEX     REVPAR INDEX
--------------------------------------------------------------------------------
Hotel Gansevoort                103.6%                 97.4%           100.9%

--------------------------------------------------------------------------------

(1)   Estimated Penetration Indices based on actual hotel performance in 2006
      and a STR Report dated February 6, 2007 for local comparables hotels. The
      Hotel Gansevoort does not participate in Smith Travel Research.

THE MARKET(1). The Hotel Gansevoort Property is located in Manhattan's
Meatpacking District, which historically provided warehousing to businesses that
distributed meat products to the City of New York . Currently, the Meatpacking
District caters to a growing residential population, while also attracting
patrons from throughout Manhattan to the restaurants, bars, clubs and high-end
retail stores. Over the past decade, the neighborhood has undergone a
significant transition from warehouse/distribution uses to residential and
leisure uses including the redevelopment of existing warehouse buildings into
upscale condominium buildings, retail and office space, art galleries,
restaurants and clubs. The Meatpacking District is in close proximity to the
West Side Highway. In addition, the 14th Street station provides access to the
A, C, E and L subway lines as well as the M14 bus line.


THE BORROWERS. The borrower, Gansevoort, LLC and Regent SPE LLC (the "Hotel
Gansevoort Borrower"), is a single purpose Delaware limited liability company
that is obligated for the entire loan amount. The co-borrower, Regent SPE LLC, a
single purpose Delaware limited liability company, is obligated for a portion of
the loan amount (12.6160% of each interest only payment and $101,729.51 of each
principal and interest payment). The non-recourse carve out guarantor is William
S. Achenbaum. Mr. Achenbaum has developed, owned and operated hotels,
multifamily, office and industrial properties for over 45 years.


PROPERTY MANAGEMENT. The property manager for the Hotel Gansevoort Loan is
WSA-NY Manager, an affiliate of the Hotel Gansevoort Borrower.

LOCKBOX. The loan requires a hard lockbox and in-place cash management. The loan
documents require the Hotel Gansevoort Borrower to (i) cause all revenue
(including credit card receivables) to be deposited into the lockbox account and
(ii) direct all tenants to pay their rent directly to the lockbox account. Prior
to an event of default, payments in the collection account will be applied to
debt service and reserves in accordance with the loan documents. Following an
event of default, all amounts in the collection account will be applied to the
indebtedness in any manner that the lender may elect.

(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       31



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

ESCROWS/RESERVES. The following escrow/reserve accounts have been established
with respect to the Hotel Gansevoort Loan.

         ------------------------------------------------------------
                              ESCROWS / RESERVES

         TYPE:                               INITIAL         MONTHLY
         ------------------------------------------------------------
         Taxes                                $516,571       $129,143
         Insurance                            $230,460        $18,614
         Capital Expenditure / FF&E                 $0        $38,750
         Ground Rent Reserve(1)                     $0        $64,117(1)

(1)   The security for the Hotel Gansevoort Loan is the overlapping fee and
      leasehold interest in the Hotel Gansevoort Property. The Hotel Gansevoort
      Borrower (as tenant under the ground lease) agreed to pay the lender each
      month, on behalf of the Hotel Gansevoort Co-Borrower (as landlord under
      the ground lease) the Hotel Gansevoort Co-Borrower's portion of debt
      service due under the Hotel Gansevoort Loan, which amount will be deducted
      from the ground rent due and owing from the Hotel Gansevoort Borrower to
      the Hotel Gansevoort Co-Borrower in such month. The monthly ground rent
      reserve is an amount equal to applicable monthly ground rent due and
      payable under the ground lease, less the portion of monthly debt service
      attributable to the Hotel Gansevoort Co-Borrower in such month.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that
ultimately are not sold. The information contained in this material may be
based on assumptions regarding market conditions and other matters as reflected
herein. The Underwriters make no representation regarding the likelihood that
any of such assumptions will coincide with actual market conditions or events.
The Underwriters and their 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 herein or derivatives thereof (including
options). Information contained in this material is current as of the date
appearing in this material only. INFORMATION IN THIS MATERIAL REGARDING ANY
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION
REGARDING SUCH ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED
BY THE INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE
TIME OF SALE. The Underwriters are acting as underwriters and not acting as
agents for the issuer in connection with the proposed transaction.

                                       32



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

RENAISSANCE AUSTIN HOTEL


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                                Austin, TX
Property Type                                                       Hospitality
Size (Rooms)                                                                492
Percentage Physical Occupancy as of December 31, 2006  73.0%
Year Built                                                                 1986
Year Renovated                                                             2006
Appraisal Value                                                    $108,000,000
Underwritten Economic Occupancy                                           72.5%
Underwritten Revenues                                               $32,440,990
Underwritten Total Expenses                                         $23,825,860
Underwritten Net Operating Income (NOI)                             $ 8,615,130
Underwritten Net Cash Flow (NCF)                                    $ 7,317,491
2006 NOI                                                            $ 8,316,634
2005 NOI                                                            $ 5,711,158
2004 NOI                                                            $ 5,016,916
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
                                LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                       MLML
Loan Group                                                                    1
Origination Date                                               December 8, 2006
Cut-off Date Principal Balance                                      $83,000,000
Cut-off Date Loan Balance Per Room                                     $168,699
Percentage of Initial Mortgage Pool Balance                                1.9%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                           5.5065%
Amortization Type                                                 Interest Only
IO Period (Months)                                                          120
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         NAP
Original Call Protection                                    LO(27),Def(90),O(3)
                                                               None at Closing,
Lockbox                                                          Springing Hard
Cut-off Date LTV Ratio                                                    76.9%
LTV Ratio at Maturity or ARD                                              76.9%
Underwritten DSCR on NOI                                                  1.85x
Underwritten DSCR on NCF                                                  1.57x
--------------------------------------------------------------------------------


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       33



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       34



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Renaissance Austin Hotel Loan") is evidenced
by a single promissory note and is secured by a first mortgage encumbering a
full service hotel (the "Renaissance Austin Hotel Property") located in Austin,
Texas. Renaissance Austin Hotel Loan represents approximate 1.9% of the initial
mortgage pool balance and approximate 2.6% of the initial loan group 1 balance.

The Renaissance Austin Hotel Loan was originated on December 8, 2006, and has a
principal balance as of the cut-off date of $83,000,000. The Renaissance Austin
Hotel Loan has a remaining term of 117 months and a scheduled maturity date of
December 8, 2016. The Renaissance Austin Hotel Loan permits defeasance with US
Government obligations beginning two years after securitization. The Renaissance
Austin Hotel Loan may be voluntarily prepaid without payment of a prepayment
premium from and after October 8, 2016.

THE PROPERTY. The Renaissance Austin Hotel Property is a 492-room full service
hotel that was built in 1986 and substantially renovated in 2003 and 2006. The
hotel is situated on a 9.74-acre parcel and contains approximately 60,000 square
feet of meeting space, a restaurant and lounge, a night club, an indoor swimming
pool and whirlpool, a fitness center, and a business center. The Renaissance
Austin Hotel Property consists of one ten-story square tower configured around
an interior open atrium. A $4.4 million renovation ($8,943/room) was recently
completed that included a $1 million renovation to the 30,000 square foot
exhibit hall, an upgrade and relocation of the restaurant, improvements to the
health club and pool areas, new Marriott bedding in the guestrooms as well as
the conversion of 14 Atrium suites to 28 standard guest rooms.

The following tables present certain information regarding the Renaissance
Austin Hotel Property:

-----------------------------------------------------------------------------
                             OPERATIONAL STATISTICS

                   2004             2005            2006              UW
-----------------------------------------------------------------------------
Occupancy             73.7%            72.1%            72.5%            72.5%
ADR                $118.37          $126.73          $141.74          $145.74
RevPAR              $87.21           $91.33          $102.81          $105.71
NOI             $5,016,916       $5,711,158       $7,675,469       $8,615,130
NCF             $3,975,712       $4,584,158       $6,443,796       $7,317,491
-----------------------------------------------------------------------------



-----------------------------------------------------------------------------------------------------------------
                                            OPERATIONAL STATISTICS(1)

                      PROPERTY                            COMPETITIVE SET                          INDEX
          ----------------------------------   ---------------------------------   ------------------------------
          OCCUPANCY      ADR        REVPAR     OCCUPANCY     ADR        REVPAR     OCCUPANCY     ADR      REVPAR
-----------------------------------------------------------------------------------------------------------------

2004        73.3%     $ 118.40     $  86.84      62.7%     $ 108.22     $ 67.80      117.1      109.4      128.1
2005        72.0%     $ 126.75     $  91.30      67.8%     $ 120.69     $ 81.78      106.3      105.0      111.6
2006        73.0%     $ 143.75     $ 104.93      69.3%     $ 135.65     $ 94.04      105.3      106.0      111.6
-----------------------------------------------------------------------------------------------------------------


THE MARKET.(2) The Renaissance Austin Hotel Property is located in metropolitan
Austin, Texas. With over 1.4 million people, Austin is the state capital and is
within 220 miles of Texas' three largest cities: Dallas, Houston and San
Antonio. From 1990 to 2000, the Austin-Round Rock MSA experienced population
growth at a rate more than three times faster than the national average and is
expected to continue at a 2.5% growth rate. Austin's economy, historically
driven by the public sector, has more recently been fueled by the growth of high
technology firms including IBM, Motorola, Samsung and Advanced Micro Devices.
Dell Computers is the largest employer in the area. More traditional economic
forces in the city are still strong and include government jobs and investments
as well as the state's flagship university, the University of Texas at Austin.
Austin's unemployment rate has consistently been below both the state and
national average. In 2005, the unemployment rate for the MSA was 4.3% while the
same rate for the state and the nation were at 5.3% and 5.1%, respectively.

The Austin Convention Center recently underwent a $110 million expansion and now
encompasses six city blocks. The increased capacity at this facility has
increased room night compression in the market, and it is expected that Austin
will capture more tier-two and some tier-one convention meetings and group
demand. The Renaissance Austin Hotel Property's primary competitive set includes
ten full-service hotels (3,426 rooms) as well as other premiere properties in
downtown Austin. The Renaissance Austin Hotel Property has a significant
competitive advantage due to its large amount of exhibit and meeting space and
its Arboretum location. The Renaissance Austin Hotel Property offers more than
twice as much function space per guestroom as the competitive set and has the
most meeting space of any hotel in the Arboretum submarket. In 2005, Austin's
hotels experienced a 20.5% surge in RevPAR growth according to STR, the highest
recorded for the city since STR began tracking the market in 1987. The city also
showed a 19.6% increase in RevPAR in the first half of 2006.

(1)   Per Smith Travel Research ("STR) Report dated December 2006.

(2)   Certain information obtained from the appraisal of the Renaissance Austin
      Hotel Property dated December 18, 2006. The appraisal relies upon many
      assumptions, and no representation is made as to the accuracy of those
      assumptions.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       35



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE BORROWER. The borrower, DRH Austin Owner Limited Partnership (the
"Renaissance Austin Hotel Borrower"), is a Delaware limited partnership and a
single purpose entity owned directly or indirectly by the DiamondRock
Hospitality Company ("DRH"). DRH (NYSE: DRH) is a self-advised real estate
company committed to maximizing shareholder value through investing in premium
full-service hotels and certain premium urban select-service hotels. DRH began
operations in July 2004, became a public company in May 2005 and currently owns
17 hotels. As of February 9, 2006, the Company had an equity market
capitalization of over $1.68 billion and a stock price of $18.50. The 52-week
range for the stock is $12.26 to $19.16. As of December 8, 2006, the company's
total debt to enterprise value was 38.8%. All of the DRH's debt carries fixed
interest rates, with a weighted-average interest rate of 5.73%.

DRH believes that it can create significant value in its portfolio through
innovative asset management strategies such as rebranding, renovating or
repositioning. DRH is committed to regularly evaluating its portfolio to
determine if these value-added strategies can be employed at its hotels. DRH has
rebranded two of its properties, including one conversion from an independently
branded hotel to a Marriott brand, which contributed to a 31% increase in
revenues and significantly increased operating margins at the hotel in 2005
compared to pro forma 2004. DRH also budgeted to spend approximately $89.5
million in 2006 on identified value-added capital investment opportunities at
its existing hotels. The opportunities ranged from room renovations to a total
renovation and repositioning.

OPERATING LEASE. Operation and control of the Renaissance Austin Hotel Property
is effectuated through a single operating lease (the "Renaissance Austin Hotel
Lease"), with DRH Austin Tenant Limited Partnership as the operating lessee. DRH
Austin Tenant Limited Partnership is a single purpose Delaware limited
partnership and an affiliate of the Renaissance Austin Hotel Borrower
(controlled by DiamondRock Hospitality Limited Partnership, the upstream entity
controlling both the Renaissance Austin Hotel Borrower and DRH Austin Tenant
Limited Partnership). The Renaissance Austin Hotel Lease is subordinated to the
Renaissance Austin Hotel Loan. All personal property, funds, FF&E and fixed
asset supplies are owned by Renaissance Austin Hotel Borrower. Additionally, DRH
Austin Tenant Limited partnership has pledged its assets to Renaissance Austin
Hotel Borrower pursuant to a security agreement, which has been assigned to
lender as collateral for the Renaissance Austin Hotel Loan. If an event of
default occurs under the loan documents and Renaissance Austin Hotel Borrower
shall not have cured such event of default within the applicable notice period
set forth in the loan documents, lender has the right to cause the termination
of the Renaissance Austin Hotel Lease. Upon expiration of the Renaissance Austin
Hotel Lease, Renaissance Austin Hotel Borrower may renew or enter into a new
hotel lease with DRH Austin Tenant Limited Partnership, in substantially the
same form as the Renaissance Austin Hotel Lease, without lender's consent.

PROPERTY MANAGEMENT. Renaissance Hotel Operating Company, a subsidiary of
Marriott International, Inc., manages the Renaissance Austin Hotel Property. The
management agreement expires on December 31, 2025 and provides for three
successive ten-year renewal terms that will be automatically exercised unless
prior notice is given to the Renaissance Austin Hotel Borrower. Provided
Marriott or a Marriott affiliate is managing the Renaissance Austin Hotel
Property, lender reserves the right to remove management of the Renaissance
Austin Hotel Property only upon a continuing event of default under the
management agreement or the insolvency of the property manager, in each
instance, only to the extent that such termination is permitted under the terms
of the management agreement. If Marriott or a Marriott affiliate is not managing
the Renaissance Austin Hotel Property, lender reserves the right to remove
management of the Renaissance Austin Hotel Property (i) upon a continuing event
of default under the loan documents or the management agreement; or (ii) for
items including, but not limited to, fraud, gross negligence, willful misconduct
or misappropriation of funds.

LOCKBOX. The Marriott affiliate collects and applies all rent, credit card and
other payments in accordance with the terms of the management agreement to: (i)
operating expenses for the Renaissance Austin Hotel Property; (ii) base
management fee, (iii) amounts due to Renaissance Austin Hotel Borrower under the
management agreement in the nature of the Renaissance Austin Hotel Borrower's
owners priority and additional distribution (from which monthly debt service
will be paid); (iv) any incentive management fees; and (v) the Renaissance
Austin Hotel Borrower's additional distributions. The Renaissance Austin Hotel
Borrower's owners priority and additional distributions will be deposited into
the Cash Management Account.

At such time as the management agreement with the Marriott affiliate is no
longer in effect, Renaissance Austin Hotel Borrower is required to direct all
rent, credit card and other payments/revenues directly into a lockbox account
acceptable to Lender, which funds will be swept into a cash management account
with lender. Monies in the cash management account will be applied to: (i)
monthly interest payment and any required reserve account deposits due to lender
pursuant to the loan documents; (ii) other amounts, if any, due to lender under
the loan documents; (iii) lockbox bank charges, if any; and (iv) prior to a
default, the balance to be paid to Renaissance Austin Hotel Borrower.

ESCROWS. A replacement reserve equal to 4% of gross revenues will be funded
monthly into a reserve account administered by property manager. In addition, an
amount equal to one-twelfth of all annual tax bills and the insurance premium
for the Renaissance Austin Hotel Property will be funded each accounting period
(varies between a four and five week period in accordance with property
manager's accounting period) into a manager-administered account. The interests
of Renaissance Austin Hotel Borrower and DRH Austin Tenant Limited Partnership
in such reserve accounts have been pledged to lender.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       36



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

ADDITIONAL DEBT. None permitted.

RELEASE PROVISIONS. None.

SUBSTITUTION PROVISIONS. None.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       37



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                     [THIS PAGE INTENTIONALLY LEFT BLANK.]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       38



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

RESURGENS PLAZA


                                 [PHOTO OMITTED]



--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                               Atlanta, GA
Property Type                                                   Suburban Office
Size (Square Feet)                                                      393,107
Percentage Physical Occupancy as of November 30, 2006                     95.1%
Year Built                                                                 1988
Year Renovated                                                              NAP
Appraisal Value                                                    $113,000,000
# of Tenant Leases                                                        19(2)
Average Rent Per Square Foot                                          $28.83(2)
Underwritten Economic Occupancy                                           91.4%
Underwritten Revenues                                               $11,333,727
Underwritten Total Expenses                                          $3,687,675
Underwritten Net Operating Income (NOI)                              $7,646,052
Underwritten Net Cash Flow (NCF)                                     $6,885,370
Trailing 10 annualized NOI (as of 10/31/2006)                        $6,541,567
2005 NOI                                                             $7,147,128
2004 NOI                                                             $7,192,295
2003 NOI                                                                    NAV
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        KEY
Loan Group                                                                    1
Origination Date                                               November 30,2006
Cut-off Date Principal Balance                                   $82,000,000(1)
Cut-off Date Loan Balance Per SF/Unit                                $208.59(1)
Percentage of Initial Mortgage Pool Balance                                1.9%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                       Leasehold/Fee air rights
Mortgage Rate                                                        5.4750%(3)
Amortization Type                                                    IO-Balloon
IO Period (Months)                                                           60
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         360
Original Call Protection                                    LO(27),Def(89),O(4)
Lockbox                                         Soft at closing, Springing Hard
Cut-off Date LTV Ratio                                                    72.6%
LTV Ratio at Maturity or ARD                                              67.5%
Underwritten DSCR on NOI(4)                                               1.37x
Underwritten DSCR on NCF(5)                                               1.22x
--------------------------------------------------------------------------------


(1)   Based on a March 1, 2007 cut-off date.

(2)   Information based on the Resurgens Plaza Borrower's November 30, 2006 rent
      roll.

(3)   The interest rate is 5.475% through November 30, 2009, bumps to 5.565%
      from December 1, 2009 through November 30, 2012, and is 5.665% from
      December 1, 2012 thereafter until payment in full of the loan.

(4)   The Underwritten DSCR on NOI during the interest only period is 1.68x.

(5)   The Underwritten DSCR on NCF during the interest only period is 1.51x.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       39



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       40



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


THE LOAN. The mortgage loan (the "Resurgens Plaza Loan") is evidenced by a
single promissory note secured by first priority fee in airspace/air rights and
leasehold mortgage lien encumbering a Class-A office building (the "Resurgens
Plaza Property") located in Atlanta, Georgia. The Resurgens Plaza Loan
represents approximately 1.9% of the initial mortgage pool balance and
approximately 2.6% of the initial loan group 1 balance.


The Resurgens Plaza Loan was originated on November 30, 2006, and has a
principal balance as of the cut-off date of $82,000,000. The Resurgens Plaza
Loan has a remaining term of 117 months and a scheduled maturity date of
December 1, 2016. The Resurgens Plaza Loan is not prepayable except in whole on
any monthly payment date beginning 3 months prior to the maturity date. Any
prepayment made in violation of the foregoing sentence is subject to a
prepayment penalty (except in the case of casualty or condemnation) equal to the
greater of 1% of the then outstanding principal balance and yield maintenance
(calculated using a discount rate equal to the applicable U.S. Treasury Rate ).
The Resurgens Plaza Loan is permitted to be defeased at any time after 2 years
after the securitization "start-up date", subject to standard defeasance
requirements.

THE PROPERTY. The Resurgens Plaza Loan is secured by a leasehold interest and a
fee interest in air rights in a 27-story, Class-A office building totaling
393,107 net rentable square feet, located in Atlanta, Fulton County, Georgia.
The subject property, developed in the air rights over the Metropolitan Atlanta
Rapid Transit Authority ("MARTA") in 1988, is of neo-classical design, and
contains a concierge staffed Grand Lobby on the 11th floor, which is framed on
the north end by a semi-circular grand staircase, and framed on the south end by
a stained glass panel. The building is at street grade on its north side and the
north-south route of the MARTA light rail Lenox Station is connected along the
southern face of the building, with building access via the 3rd floor lobby.
Levels 1-10, including the remainder of floor 3, which is not lobby area,
consist of interior parking decks and the levels above are utilized for office
tenants.

The property is 95.1% occupied with 19 tenants. The building houses the
headquarters of the largest tenant, RSUI Indemnity Company ("RSUI"), which is a
leading underwriter of wholesale specialty insurance, including property,
casualty, professional liability and directors and officers liability coverage.
Alleghany purchased RSUI in July, 2003. Other major tenants include the
headquarters of Fisher & Phillips, LLP and Epstein, Becker & Green, PC. Fisher &
Phillips, LLP, founded in 1943, was the first firm to exclusively represent
employers in labor and employment practices, and its 200 attorneys in 17
locations currently practice law in the areas of labor, employment, civil
rights, employee benefits, and business immigration. The 380 attorneys at the 11
office locations of Epstein, Becker & Green, PC, founded in 1973, practice in
the areas of labor and employment, health care and life sciences, corporate
transactional work, commercial litigation, real estate, and environmental law.

The following table presents certain information relating to the major tenants
at the Resurgens Plaza Property:



-------------------------------------------------------------------------------------------------------------------
                                                TENANT INFORMATION
                                                ------------------

                                                   CREDIT RATINGS       SQUARE    % OF    BASE RENT       LEASE
TENANT NAME                  PARENT COMPANY    (FITCH/MOODY'S/S&P)(1)    FEET      GLA       PSF       EXPIRATION
-------------------------------------------------------------------------------------------------------------------

RSUI                           Alleghany            NR/Baa2/BBB+        134,124   34.1%     $27.16      June 2020
Fisher & Phillips, LLP                                   NR              71,207   18.1       30.01    December 2010
Epstein, Becker, & Green PC                              NR              59,327   15.1       25.84    October 2014
-------------------------------------------------------------------------------------------------------------------


The following table presents certain information relating to the lease rollover
schedule at the Resurgens Plaza Property:



--------------------------------------------------------------------------------------------------------------------------------
                                                   LEASE ROLLOVER SCHEDULE(2)
                                                   --------------------------

              NUMBER      SQUARE      % OF                  % OF BASE    CUMULATIVE    CUMULATIVE    CUMULATIVE    CUMULATIVE %
             OF LEASES     FEET       GLA       BASE RENT      RENT      SQUARE FEET    % OF GLA     BASE RENT     OF BASE RENT
YEAR         EXPIRING    EXPIRING   EXPIRING    EXPIRING     EXPIRING     EXPIRING      EXPIRING      EXPIRING       EXPIRING
--------------------------------------------------------------------------------------------------------------------------------

MTM              0             0         0%             $0        0%             0           0%               $0          0%
2007             1         9,925       2.5         250,446      2.4          9,925         2.5           250,446        2.4
2008             2         8,961       2.3         179,877      1.7         18,886         4.8           430,323        4.1
2009             1         3,460       0.9         104,135      1.0         22,346         5.7           534,458        5.1
2010             3        82,116      20.9       2,434,621     23.4        104,462        26.6         2,969,079       28.5
2011             5        43,964      11.2       1,242,802     11.9        148,426        37.8         4,211,881       40.5
2012             1         2,937       0.7          85,946      0.8        151,363        38.5         4,297,827       41.3
2013             1        23,784       6.1         782,969      7.5        175,147        44.6         5,080,796       48.8
2014             1        59,327      15.1       1,533,428     14.7        234,474        59.6         6,614,224       63.6
2015             0             0         0               0        0        234,474        59.6         6,614,224       63.6
2016             1         5,373       1.4         149,047      1.4        239,847        61.0         6,763,271         65
2017             0             0         0               0        0        239,847        61.0         6,763,271         65
Thereafter       1       134,124      34.1       3,642,568     35.0        373,971        95.1        10,405,839        100
Vacant           0        19,136       4.9               0        0        393,107         100        10,405,839        100
--------------------------------------------------------------------------------------------------------------------------------
TOTAL           17       393,107       100%    $10,405,839      100%
--------------------------------------------------------------------------------------------------------------------------------


(1)   Ratings provided are for the entity identified in the "Parent Company"
      column whether or not the Parent Company guarantees the lease.

(2)   Information obtained from the Resurgens Plaza Borrower's rent roll dated
      November 30, 2006.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       41



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE MARKET.(1) The Resurgens Plaza Property is located within the northern
portion of Atlanta, central portion of Fulton County, Georgia, within the
Atlanta MSA. The neighborhood is in the heart of the Buckhead community, known
locally and nationally as one of the primary business districts of Atlanta, as
well as a vibrant retail and entertainment venue and an upscale residential
area. The neighborhood is approximately seven miles northeast of the Atlanta
central business district (CBD). Nearly three-fourths of the office sector
within the Buckhead submarket is comprised of Class-A office space. This
submarket commands the highest rent in the city and continues to see growth in
high-rise office development. Lenox Square Mall, a 1.5 million square feet
indoor mall, which possesses anchor tenants Macy's, Neiman Marcus, and
Bloomingdale's, as well as 200 smaller shops and restaurants, is located within
walking distance. Located across from the Lenox Square Mall is Phipps Plaza, a 1
million square feet mall, which includes anchor tenants Saks Fifth Avenue,
Parisian, and Nordstrom, and designers such as Armani Exchange, Versace, Gucci,
Tiffany, as well as restaurants and a 14-screen cinema. Complementing these
malls are a variety of commercial developments, including power shopping
centers, a multi-story community center, and various strip retail centers. The
area also has a significant level of apartments, condominiums, and many
exclusive residential areas. Also, Buckhead is a home to many high-end hotels,
and institutions such as American Intercontinental University and Bauder
College.

Buckhead office market's Class-A sector consisted of 43 projects with
approximately 12.3 million square feet of office space Year-End 2006. Class-A
office property occupancy for the Year-End 2006 was 88.5%, and average quoted
rates for available space were $26.36/sf.

Metropolitan Atlanta is home to 27 companies ranked among the latest Fortune
1,000 companies and 15 of which are ranked among the Fortune 500. A strong
economic base is evidenced by steady increases in population, in the diversity
of the work force, and in job growth. Atlanta continues to gain new jobs faster
and to maintain unemployment levels lower than most areas of the United States.
Major employers include Delta Airlines, Publix Supermarkets, BellSouth, Kroger,
and Wal-Mart.

THE BORROWER. Behringer Harvard 945 East Paces Ferry Road, LLC, a Delaware
limited liability company (the "Resurgens Plaza Borrower") is a single member
special purpose entity and bankruptcy remote. The Resurgens Plaza Borrower is
owned 100% by Behringer Harvard Operating Partnership I, L.P., of which the
general partner Behringer Harvard REIT I, Inc. holds a 1% interest and BHR
Partners, LLC holds a 90% limited partnership interest, with the remainder being
held by third-party investors.

Behringer Harvard REIT I, Inc., was incorporated in June 2002 as a real estate
investment company that sponsors investment products to meet the needs of savvy,
diversification-minded investors. Behringer Harvard acquires and operates
institutional quality office properties that have premier business addresses,
desirable locations, personalized amenities, high quality construction and
highly creditworthy commercial tenants. The company also may acquire
institutional quality industrial, retail, hospitality, multi-family and other
real properties, including existing or newly constructed properties or
properties under development or construction. Behringer Harvard completed its
first property acquisition in October 2003, and as of 11/27/2006, owned
interests in 23 office properties located in California, Colorado, Georgia,
Maryland, Minnesota, Missouri, Oregon, Texas, Tennessee and Washington, D.C. All
of these properties consist of developed institutional quality office buildings,
which total approximately 4.7 million rentable square feet.

PROPERTY MANAGEMENT. The Resurgens Plaza Property will be managed by HPT
Management Services, LP, a Texas limited partnership (the "Resurgens Property
Manager"), pursuant to a Master Management Agreement. The Resurgens Property
Manager is entitled to subcontract its management obligations under the Master
Management Agreement. Lender has the ability to terminate the Resurgens Property
Manager in the event of (i) an event of default under the Resurgens Plaza Loan
documents, (ii) a default under the Master Management Agreement, or (iii) a
bankruptcy of the Resurgens Property Manager.

All properties owned by Behringer Harvard are managed by its subsidiary, HPT
Management Services, LP ("HPT"). HPT may contract with third parties to handle
day-to-day management. HPT contracts with CB Richard Ellis for management and
leasing of the Resurgens Plaza Property. HPT manages 21 office properties
located in California, Colorado, Georgia, Maryland, Minnesota, Missouri, Oregon,
Texas, Tennessee, and Washington D.C. All of these properties consist of
developed institutional quality office buildings with approximately 4.7 million
rentable square feet.

LOCKBOX. Tenants pay directly into a hard lockbox, with springing cash
management triggered upon an event of default under the loan documents and
ending if and when such event of default is cured and such cure has been
accepted by lender, provided that no more than 2 trigger events and cures occur
in any 12 month period or more than 5 times during the term of the Resurgens
Plaza Loan.

(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       42



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

ESCROWS. The following escrow/reserve accounts have been established with
respect to the Resurgens Plaza Loan:

      -------------------------------------------------------------------
                              ESCROWS/RESERVES
      TYPE:                            INITIAL            MONTHLY
      -------------------------------------------------------------------
      Taxes                                 $0                         $0
      Insurance                             $0                         $0
      Immediate Repairs                     $0                         $0
      Capital Expenditures          $1,000,000                  $6,670.00
                                                  (springing/with cap)(1)
      Tenant Allowance           $3,301,480.35                         $0
      Rollover Reserve                      $0                 $25,948.00
                                                  (springing/with cap)(2)
      -------------------------------------------------------------------

(1)   The Capital Expenditure monthly reserve deposits are not required to be
      made by the Resurgens Plaza Borrower except during the continuance of an
      event of default under the Resurgens Plaza Loan, and the Resurgens Plaza
      Borrower shall not be required to make such deposits if the amount on
      deposit in the Capital Expenditure Account equals or exceeds $240,105.

(2)   The Rollover Reserve monthly reserve deposits are not required to be made
      by the Resurgens Plaza Borrower except during the continuance of an event
      of default under the Resurgens Plaza Loan, and the Resurgens Plaza
      Borrower shall not be required to make such deposits if the amount on
      deposit in the Rollover Reserve Account equals or exceeds $934,122.

ADDITIONAL DEBT. None, except for trade payables incurred during the ordinary
course of business and which do not exceed 2.5% of the original principal
balance of the Resurgens Plaza Loan, are not evidenced by a note, and are paid
within 60 days after the date incurred.

PERMITTED MEZZANINE DEBT. None.

RELEASE PROVISIONS. None.

LEASEHOLD ESTATE AND FEE ESTATE IN AIR RIGHTS. The Resurgens Plaza Property
consists of a ground lease from MARTA with respect to the property above the
existing MARTA Lenox Station up to a horizontal plane 1030 feet above the
adjusted median sea level and a fee interest in the air rights above the
horizontal plane beginning at 1030 feet above the adjusted median sea level,
which includes the limited support rights on the property below the horizontal
plane as necessary to develop the Resurgens Plaza Property in accordance with
the development agreement also entered into by the Resurgens Plaza Borrower's
predecessor-in-interest and MARTA.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       43



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                      [THIS PAGE INTENTIONALLY LEFT BLANK.]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that
ultimately are not sold. The information contained in this material may be
based on assumptions regarding market conditions and other matters as reflected
herein. The Underwriters make no representation regarding the likelihood that
any of such assumptions will coincide with actual market conditions or events.
The Underwriters and their 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 herein or derivatives thereof (including
options). Information contained in this material is current as of the date
appearing in this material only. INFORMATION IN THIS MATERIAL REGARDING ANY
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION
REGARDING SUCH ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE
ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED
BY THE INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE
TIME OF SALE. The Underwriters are acting as underwriters and not acting as
agents for the issuer in connection with the proposed transaction.

                                       44



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

HSA MEMPHIS INDUSTRIAL PORTFOLIO


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                          15
Location (City/State)                                               Memphis, TN
Property Type                                                        Industrial
Size (Square Feet)                                                    1,586,544
Percentage Physical Occupancy as of
     December 28, 2006                                                    87.5%
Year Built                                                                  (1)
Year Renovated                                                              (1)
Appraisal Value(1)                                                  $85,030,000
# of Tenants                                                                 42
Average Rent Per Square Foot                                              $4.72
Underwritten Economic Occupancy                                           87.1%
Underwritten Revenues                                                $7,969,833
Underwritten Total Expenses                                          $2,601,028
Underwritten Net Operating Income (NOI)                              $5,368,805
Underwritten Net Cash Flow (NCF)                                     $5,048,525
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        CRF
Loan Group                                                                    1
Origination Date                                              December 28, 2006
Cut-off Date Principal Balance                                      $67,000,000
Cut-off Date Loan Balance Per Square Foot                                   $42
Percentage of Initial Mortgage Pool Balance                                1.5%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                           5.4704%
Amortization Type                                                 Interest Only
IO Period (Months)                                                          120
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         NAP
Original Call Protection                                    LO(26),Def(87),O(7)
Lockbox                                                                    Hard
Cut-off Date LTV Ratio                                                    78.8%
LTV Ratio at Maturity or ARD                                              78.8%
Underwritten DSCR on NOI                                                  1.44x
Underwritten DSCR on NCF                                                  1.35x
--------------------------------------------------------------------------------

(1)   See the table titled, "HSA Memphis Industrial Portfolio Properties" under
      "The Property" below.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       45



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       46



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "HSA Memphis Industrial Portfolio Loan") is
evidenced by a single promissory note secured by a first priority deed of trust
encumbering 15 Class A office/flex/industrial warehouse buildings (collectively,
the "HSA Memphis Industrial Portfolio Properties") located in Memphis,
Tennessee. The HSA Memphis Industrial Portfolio Loan represents approximately
1.5% of the initial mortgage pool balance and approximately 2.1% of the initial
loan group 1 balance.

The HSA Memphis Industrial Portfolio Loan was originated on December 28, 2006,
and has a principal balance as of the cut-off date of $67,000,000. The HSA
Memphis Industrial Portfolio Loan has a remaining term of 118 months and a
scheduled maturity date of January 8, 2017. The HSA Memphis Industrial Portfolio
Loan permits defeasance of the entire loan or partial defeasance (on a
property-by-property basis) with United States Treasury obligations or other
non-callable government securities (and in the case of a partial defeasance, in
an amount equal to at least 105% of the allocated loan amount), in each case
beginning two years after the creation of the securitization trust. Voluntary
prepayment of the HSA Memphis Industrial Portfolio Loan is permitted on or after
July 8, 2016, without penalty.

THE PROPERTY. The HSA Memphis Industrial Portfolio Loan is secured by 15
industrial properties totaling 1,586,544 square feet, located in Memphis,
Tennessee. The HSA Memphis Industrial Portfolio Properties are located within
the Corporate Park (five properties), Willow Lake (nine properties) and Hickory
Hill (one property) business parks.

Corporate Park. The portion of the HSA Memphis Industrial Portfolio Properties
located within the Corporate Park business park consists of five light and bulk
distribution warehouse facilities totaling approximately 578,764 square feet
representing approximately 36.5% of the portfolio. The Corporate Park industrial
park was developed in 1987. Uses within the park include a combination of
distribution warehouses and flex buildings. The chart below details various
characteristics applicable to the HSA Memphis Industrial Portfolio Properties
located within the Corporate Park business park. All of these HSA Memphis
Industrial Portfolio Properties are of tilt-wall concrete construction.



-------------------------------------------------------------------------------------------------
                                   YEAR
BUILDING                    SF     BUILT   CLEAR HEIGHT   DOCKS   PARKING   % OFFICE      TYPE
-------------------------------------------------------------------------------------------------

3605 Knight Rd.           69,244    1987       22'         14       177       29.1%    Bulk Dist.
3635 Knight Rd.          131,904    1989       22'         21       177       10.2%    Bulk Dist.
3660 Knight Rd.           81,808    1989       22'         20       229        6.5%    Bulk Dist.
3834 Knight Rd.          227,500    1989       32'         31       216       13.6%    Bulk Dist.
4600 Cromwell Rd.         68,308    1989       22'         31       229       20.8%    Bulk Dist.
-------------------------------------------------------------------------------------------------


Willow Lake. The portion of the HSA Memphis Industrial Portfolio Properties
located within the Willow Lake business park consist of four flex properties,
two office buildings and three bulk distribution warehouses facilities totaling
approximately 807,780 square feet representing approximately 50.9% of the
portfolio. The Willow Lake business park was developed in the late 1980's and
early 1990's. The chart below details various characteristics applicable to the
HSA Memphis Industrial Portfolio Properties located within the Willow Lake
business park.



-------------------------------------------------------------------------------------------------
                                   YEAR
BUILDING                    SF     BUILT   CLEAR HEIGHT   DOCKS   PARKING   % OFFICE      TYPE
-------------------------------------------------------------------------------------------------

3900 Willow Lake Blvd.   182,724    1986       24'         35       293       27.2%    Bulk Dist.
3960 Willow Lake Blvd.   118,400    1989       24'         32       165       15.2%    Bulk Dist.
4002 Willow Lake Blvd.   100,000    1988       17'         37       318       71.3%       Flex
4090 Willow Lake Blvd.    80,013    1995       17'          4       169        100%      Office
4095 Willow Lake Blvd.    75,643    1988       17'         19       207        100%      Office
4135 Willow Lake Blvd.    50,000    1988       14'          6       142       85.9%       Flex
5070 Raines Rd.           36,000    1985       14'          6        90       13.4%       Flex
5146 Raines Rd.           86,700    1985       17'         36       183       47.3%       Flex
5250 Raines Rd.           78,300    1990       17'         24       200       56.4%       Flex
-------------------------------------------------------------------------------------------------


Hickory Hill. The portion of the HSA Memphis Industrial Portfolio Properties
located within the Hickory Hill business park consist of one 200,000 square foot
bulk industrial warehouse facility representing approximately 12.6% of the
portfolio. The chart below details various characteristics applicable to the HSA
Memphis Industrial Portfolio Property located within the Hickory Hill business
park.



-------------------------------------------------------------------------------------------------
                                   YEAR
BUILDING                   SF      BUILT   CLEAR HEIGHT   DOCKS   PARKING   % OFFICE      TYPE
-------------------------------------------------------------------------------------------------

5838 Advantage Cove      200,000    1979       22'         38       61         0%      Bulk Dist.
-------------------------------------------------------------------------------------------------



This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       47



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

The following tables present certain information regarding the HSA Memphis
Industrial Portfolio Loan Properties.



---------------------------------------------------------------------------------------------------------
                             HSA MEMPHIS INDUSTRIAL PORTFOLIO PROPERTIES(1)

                                        CUT-OFF DATE
                                         ALLOCATED     YEAR BUILT/    SQUARE       % OF TOTAL
PROPERTY                   LOCATION       BALANCE       RENOVATED      FEET       SQUARE FEET   OCCUPANCY
---------------------------------------------------------------------------------------------------------

4095 Willow Lake Blvd.    Memphis, TN    $7,000,000          1988       75,643          4.8%       100.0%
3960 Willow Lake Blvd.    Memphis, TN     4,088,000          1989      118,400          7.5         79.7
4135 Willow Lake Blvd.    Memphis, TN     2,308,000          1988       50,000          3.2         83.1

3900 Willow Lake Blvd.    Memphis, TN     7,400,000          1986      182,724         11.5         75.0
5838 Advantage Cove       Memphis, TN     4,624,000          1979      200,000         12.6        100.0
3660 Knight Rd.           Memphis, TN     2,200,000          1989       81,808          5.2        100.0
4002 Willow Lake Blvd.    Memphis, TN     8,644,000          1988      100,000          6.3        100.0
5146 Raines Rd.           Memphis, TN     5,200,000          1985       86,700          5.5         91.4
4090 Willow Lake Blvd.    Memphis, TN     6,050,000          1995       80,013          5.0        100.0
3635 Knight Rd.           Memphis, TN     2,900,000          1989      131,904          8.3         53.0
5070 Raines Rd.           Memphis, TN     2,400,000          1985       36,000          2.3        100.0
4600 Cromwell Rd.         Memphis, TN     1,536,000          1989       68,308          4.3        100.0
5250 Raines Rd.           Memphis, TN     4,200,000          1990       78,300          4.9         34.6
3605 Knight Rd.           Memphis, TN     2,250,000          1987       69,244          4.4        100.0
3834 Knight Rd.           Memphis, TN     6,200,000          1989      227,500         14.3        100.0
---------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE                  $67,000,000                  1,586,544        100.0%        87.5%
---------------------------------------------------------------------------------------------------------


----------------------------------------------------------------------
                                                          APPRAISED
PROPERTY                         PRIMARY TENANT             VALUE
----------------------------------------------------------------------

4095 Willow Lake Blvd.        International Paper          $9,980,000
3960 Willow Lake Blvd.          Crown Equipment             5,120,000
4135 Willow Lake Blvd.         Securitas Secuirty           3,010,000
                                  Services USA
3900 Willow Lake Blvd.           Memphis Group              8,670,000
5838 Advantage Cove               Dynamic Tire              5,840,000
3660 Knight Rd.                       Exel                  2,440,000
4002 Willow Lake Blvd.        International Paper          11,310,000
5146 Raines Rd.             Fujitsu Computer Systems        6,630,000
4090 Willow Lake Blvd.        International Paper           9,060,000
3635 Knight Rd.              Terminex International         3,420,000
5070 Raines Rd.                      Fed Ex                 3,010,000
4600 Cromwell Rd.                  Tech Print               1,870,000
5250 Raines Rd.              Renal Care Group, Inc          4,630,000
3605 Knight Rd.                    EPAC Tech                2,660,000
3834 Knight Rd.                    Zomax Inc                7,380,000
----------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE                                 $85,030,000.00
----------------------------------------------------------------------


(1)   Based on information obtained from the HSA Memphisndustrial Portfolio
      Borrowers' rent roll dated December 28, 2006.



-----------------------------------------------------------------------------------------------------------------------------------
                                                    MAJOR TENANT INFORMATION(1)

                                                                                             BASE RENT
                                                   CREDIT RATING           SQUARE    % OF    PER SQUARE   % OF TOTAL      LEASE
TENANT NAME                  PARENT COMPANY    (FITCH/MOODY'S/S&P)(2)       FEET     GLA        FOOT       BASE RENT    EXPIRATION
-----------------------------------------------------------------------------------------------------------------------------------

International Paper                                BBB-/Baa3/BBB          255,656    16.1%        $7.84      30.6%     4/30/2011(3)
Zomax Inc(4)                                             NR               227,500    14.3          3.75     13.03       4/30/2008
Dynamic Tire                                             NR               200,000    12.6          3.10      9.47       11/30/2012
Memphis Group                                            NR                91,362     5.8          4.25      5.93       7/31/2009
Terminex International                                   NR                69,958     4.4          3.10      3.31       4/30/2010
Fujitsu Computer Systems    Fujitsu Limited         BBB/Baa1/BBB           60,670     3.8          6.25      5.79       2/28/2011
FedEx                                               BBB/Baa2/BBB           47,130     3.0          6.99      5.03      9/30/2009(5)
EPAC Tech                                                NR                46,045     2.9          4.50      3.16       1/31/2011
Exel                        Deutsche Post AG          A+/A2/A              45,404     2.9          2.70      1.87          MTM
Crown Equipment                                          NR                38,539     2.4          3.19      1.88       11/30/2011
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE                                                  1,082,264    68.2%        $4.85     80.07%
-----------------------------------------------------------------------------------------------------------------------------------


(1)   Based on information obtained from the HSA Memphis Industrial Portfolio
      Borrowers' rent roll dated December 28, 2006.

(2)   Credit Ratings are of the parent company whether or not the parent
      guarantees the lease.

(3)   80,013 square feet expire November 2007. See table titled
      "Escrows/Reserves" below.

(4)   Reserve held for dark tenant Zomax Inc. See table titled,
      "Escrows/Reserves" for additional information.

(5)   11,130 square feet expire February 28, 2007; the remaining 56,000 square
      feet expire in September 2009.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       48



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
                         LEASE ROLLOVER SCHEDULE(1),(2)
                         ------------------------------
                                                                        % OF
                 NUMBER OF      SQUARE FEET   % OF GLA    BASE RENT   BASE RENT
YEAR          LEASES EXPIRING    EXPIRING     EXPIRING    EXPIRING     EXPIRING
--------------------------------------------------------------------------------

Vacant              NAP            198,795       12.5%           $0        0.0%
MTM                  3              53,605        3.4       171,707        2.6%
2007                12             189,735       12.0     1,079,097       16.5
2008                 4             272,754       17.2     1,038,925       15.9
2009                 7             225,414       14.2     1,008,546       15.4
2010                 2              82,308        5.2       272,445        4.2
2011                10             335,832       21.2     2,245,105       34.3
2012                 2             215,125       13.6       682,769       10.4
2013                 1              10,000        0.6        50,000        0.8
2014                 0                   0         --            --         --
2015                 0                   0         --            --         --
2016                 0                   0         --            --         --
Thereafter           1               2,976        0.2            --         --
--------------------------------------------------------------------------------
TOTAL               42           1,586,544      100.0%   $6,548,594      100.0%
--------------------------------------------------------------------------------


----------------------------------------------------------------------
                         LEASE ROLLOVER SCHEDULE(1),(2)
                         ------------------------------

              CUMULATIVE    CUMULATIVE   CUMULATIVE      CUMULATIVE
              SQUARE FEET    % OF GLA     BASE RENT    % OF BASE RENT
YEAR           EXPIRING      EXPIRING     EXPIRING        EXPIRING
----------------------------------------------------------------------

Vacant           198,795       12.5%      $        0         0.0%
MTM              252,400       15.9          171,707         2.6
2007             442,135       27.9        1,250,804        19.1
2008             714,889       45.1        2,289,729        35.0
2009             940,303       59.3        3,298,275        50.4
2010           1,022,611       64.5        3,570,720        54.5
2011           1,358,443       85.6        5,815,825        88.8
2012           1,573,568       99.2        6,498,594        99.2
2013           1,583,568       99.8        6,548,594       100.0
2014           1,583,568       99.8        6,548,594       100.0
2015           1,583,568       99.8        6,548,594       100.0
2016           1,583,568       99.8        6,548,594       100.0
Thereafter     1,586,544      100.0        6,548,594       100.0
----------------------------------------------------------------------
TOTAL
----------------------------------------------------------------------


(1)   Based on information obtained from the HSA Memphis Industrial Portfolio
      Borrower's rent roll dated December 28, 2006.

(2)   The numbers in this chart are based on the assumption that no tenant
      exercises an early termination option.

THE MARKET.(1) The HSA Memphis Industrial Portfolio Properties are located in
the southeastern portion of the city of Memphis. The primary development within
the area is the Memphis International Airport, which is located in the southeast
quadrants of Interstates 55 and 240. According to the appraiser, given its
proximity to the airport and primary traffic carriers, the neighborhood within
which the HSA Memphis Industrial Portfolio Properties are located has evolved as
the primary industrial destination within the Memphis Metropolitan Statistical
Area ("MSA").

According to CBRE market statistics, the southeast submarket comprises
approximately 64.6 million square feet, or 62.1% of the MSA's total industrial
inventory. A wide variety of industrial uses are represented within the
neighborhood ranging from smaller showroom/warehouse buildings to large modern
bulk warehouse facilities. According to 2nd quarter 2006 CBRE, the southeast
submarket registered the most absorption at approximately 286,215 square feet.
New deliveries have shown a declining trend, which is expected to continue due
to the limited availability of large developable tracks of land. Market-wide
vacancy is reported at 19.1% among all industrial property types, with the
southeast submarket outperforming the overall market at a lower rate of 16.2%.
The following chart shows submarket vacancy by property type per CBRE:

            ----------------------------------------------------
            PRODUCT TYPE          VACANCY       RENT RANGE (NET)
            ----------------------------------------------------
            Office                  11.3%       $7.82 to $11.50
            Flex                   20.4%*        $6.00 to $9.96
            Bulk/Warehouse         16.2%*        $2.62 to $6.64
            ----------------------------------------------------

* According to the appraisal, the largest available space within the market
(5.03 million square feet) exists in bulk warehouse blocks over 400,000 square
feet. This space is not directly competitive with the property type securing the
HSA Memphis Industrial Portfolio Loan. According to CoStar, surveys of
properties of similar vintage and physical characteristics to the HSA Memphis
Industrial Portfolio Properties indicate a slightly better occupancy level of
84.9% and 81.3%, respectively, for warehouse and flex properties.

______________
(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       49



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

According to the appraisal, the business parks within which the HSA Memphis
Industrial Portfolio Properties are located have historically outperformed the
market due to their superior location, amenities, upkeep and overall appeal. All
but one of the HSA Memphis Industrial Portfolio Properties are located within
the Corporate Park or Willow Lake business parks. These parks have exhibited
strong historical occupancies as follows:

              ----------------------------------------------
                          HISTORICAL OCCUPANCIES
                          ----------------------
                                        WILLOW     CORPORATE
              YEAR                       LAKE        PARK
              ----------------------------------------------
              2002                       94.7%        100%
              2003                       89.7%       73.3%
              2004                       87.4%       87.5%
              2005                       88.4%       95.1%
              2006 YTD                   88.0%       87.0%
              ----------------------------------------------
              AVERAGE                    88.4%       89.4%
              ----------------------------------------------

Due to stabilized construction totals and rebounding absorption totals,
occupancy rates are expected to increase in the foreseeable future. According to
Reis market wide occupancy rates are projected to increase to 84.7% by year-end
2007 and 85.6% by year-end 2010. The submarket and individual parks are also
expected to continue to outperform the overall market.

THE BORROWERS. The borrowers are five tenants in common (collectively, the "HSA
Memphis Industrial Portfolio Borrowers"), each of which is a single purpose
entity that is a Delaware limited liability company. Four of these entities are
indirectly owned by John E. Shaffer, Melissa S. Pielet, Robert E. Smietana and
Daniel Miranda (collectively, the "Sponsors"), who are also the non-recourse
carve out guarantors of the HSA Memphis Industrial Portfolio Loan. The fifth
entity, Willow Lake Property, LLC, is controlled by the Sponsors and indirectly
owned by the Sponsors and various other investors.

The Sponsors are all principals of HSA Commercial Real Estate ("HSA"). According
to HSA, HSA is a full-service real estate firm specializing in leasing,
management, marketing, development and financing of commercial real estate. The
firm and its principals have developed and acquired more than 30 million square
feet of commercial real estate reportedly totaling in excess of $1.5 billion.
Industrial facilities account for 77% of HSA's current portfolio (retail 9%,
corporate facilities 7%, office properties 4% and medical facilities 3%).

PROPERTY MANAGEMENT. The property manager for the HSA Memphis Industrial
Portfolio Loan is HSA Commercial, Inc., an affiliate of HSA.

LOCKBOX. The HSA Memphis Industrial Portfolio Loan requires a hard lockbox and
in-place cash management. Prior to an event of default payments in the
collection account will be applied to debt service and reserves in accordance
with the loan documents. Following an event of default all amounts in the
collection account will be applied to the indebtedness in any manner that the
lender may elect.

ESCROWS / RESERVES. The following escrow/reserve accounts have been established
with respect to the HSA Memphis Industrial Portfolio Loan.

   --------------------------------------------------------------------
                             ESCROWS/RESERVES
                             ----------------
   TYPE:                                           INITIAL      MONTHLY
   --------------------------------------------------------------------
   Taxes                                                $0     $107,490
   Insurance                                       $55,000       $5,338
   TI/LC Reserve                                $1,400,000           $0
   Capital Expenditure Reserve                    $700,000      $13,882
   Deferred Maintenance                         $1,700,000           $0
   International Paper Rollover Reserve1        $1,000,000           $0
   Zomax Reserve2                                 $400,000           $0
   Exel Reserve3                                  $180,000           $0
   --------------------------------------------------------------------

(1)   The HSA Memphis Industrial Portfolio Borrowers may use funds in this
      reserve for rollover costs associated with the expiration of International
      Paper's lease (approximately 1/3 of the space occupied by International
      Paper), scheduled to expire on November 2007. The loan documents require
      that on the November 2008 payment date, any funds then on deposit in this
      reserve will be divided into three separate sub-accounts, as follows: (i)
      46.67%, into the sub-account relating to the International Paper lease at
      the 4002 Willow Property, (ii) 33.33%, into the sub-account relating to
      the International Paper lease at the 4090 Willow Property, and (iii)
      20.00%, into the sub-account relating to the International Paper lease at
      the 4095 Willow Property. Funds in these sub-accounts may be released upon
      satisfaction of certain conditions, including: (a) that the HSA Memphis
      Industrial Portfolio Borrowers enter into a new lease (or extend an
      existing lease) which (x) covers 90% of the applicable property and (y)
      provides that the initial rental term expires no earlier than December 31,
      2017 (or three years, if such request is made on or after January 2011 ),
      and (b) the debt service coverage ratio is then 1:35:1.

      The HSA Memphis Industrial Portfolio Borrowers are required to continue to
      fund these accounts until the reserve caps of $700,000, $500,000 and
      $300,000 respectively, are met. At such time as the replacement reserve is
      drawn down below $150,000, the HSA Memphis Industrial Portfolio Borrowers
      will be required to deposit monthly deposits of $0.10 per square foot
      until the reserve has reached $150,000.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       50



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

(2)   Funds in the Zomax Reserve may be released provided that (i) no event of
      default then exists, (ii) the HSA Memphis Industrial Portfolio Borrowers
      enter into a new lease or leases (or renew or extend the existing lease),
      which (a) covers 90% of the premises previously leased by Zomax and (b)
      satisfies all other requirements for new leases set forth in the loan
      documents and (iii) all Zomax rollover costs have been paid.

(3)   Funds in the Exel Reserve may be released provided that (i) no event of
      default then exists, (ii) the HSA Memphis Industrial Portfolio Borrowers
      enter into a new lease or leases (or renew or extend the existing lease)
      which (a) covers the entirety of the premises previously leased by Exel
      Incorporated (b) provides for an initial rental term of no less than one
      year, (c) is at rent equal to or greater than the rent currently payable
      under the lease to Exel Incorporated in effect on the origination closing
      date and (iii) satisfies all other requirements for new leases set forth
      in the loan documents.

MEZZANINE DEBT. Willow Lake-Memphis, L.P., JES Willow Lake Mezz, LLC, Willow
Lake Tenn Mezz, LLC, MSP Willow Lake Mezz, LLC and RES Willow Lake Mezz, LLC
(collectively, the "Mezzanine Borrowers"), the direct parents of the HSA Memphis
Industrial Portfolio Borrowers, have incurred mezzanine debt in the aggregate
amount of $5,000,000 secured by their respective equity interests in the HSA
Memphis Industrial Portfolio Borrowers. The mezzanine debt interest rate is
10.86% per annum and is scheduled to mature on January 8, 2017. It is
anticipated that the mezzanine debt will be held by a third party not affiliated
with the Mortgage Loan Seller.

In addition, the loan documents permit the Mezzanine Borrowers, at any time
after the existing mezzanine loan is paid in full, to obtain additional
mezzanine debt provided that certain conditions are satisfied, including: (i)
the aggregate amounts of the HSA Memphis Industrial Portfolio Loan and the new
mezzanine loan immediately after the effective date of the new mezzanine loan
does not exceed 85% of the aggregate fair market value of the HSA Memphis
Industrial Portfolio Properties, as reasonably determined by the lender based on
an appraisal, (ii) the aggregate debt service coverage ratio for the period from
the effective date of the new mezzanine loan through the maturity date, as
reasonably determined by the lender, is at least 1.10:1 based on certain
assumptions set forth in the loan documents, (iii) the term of the new mezzanine
loan (including any extension terms) is co-terminous with the term of the HSA
Memphis Portfolio Loan (or longer if the new mezzanine loan is freely prepayable
from and after the maturity date of the HSA Memphis Industrial Portfolio Loan),
and (iv) the delivery of a rating agency confirmation that such action would not
result in a downgrade, qualification or withdrawal of the Certificates.

RELEASE PROVISIONS. Individual HSA Memphis Industrial Portfolio Properties may
be released from the lien of the related mortgage upon defeasance by the HSA
Memphis Industrial Portfolio Borrowers of a principal amount equal to the
highest of the following amounts (i) 105% of the allocated loan amount of the
property to be defeased, (ii) 80% of the net sales price for the property that
is to be defeased (net of transaction costs) and (iii) the amount that, after
giving effect to such defeasance, would result in a debt service coverage ratio
of 1.40:1 and an aggregate debt service coverage ratio (including the mezzanine
loan) of 1.25:1. In addition, the loan documents permit the HSA Memphis
Industrial Portfolio Borrowers to obtain a release of a parcel located on Knight
Road (consisting of approximately 4.671 acres) without partial defeasance or
prepayment, provided, among other things, (i) subdivision of the Knight Road
parcel from the remaining HSA Memphis Industrial Portfolio Properties and (ii)
payment of all of lender's out-of-pocket, third party expenses. No income from
the Knight Road parcel was taken into account when underwriting the HSA Memphis
Industrial Portfolio Loan.

SUBSTITUTION PROVISIONS. The HSA Memphis Industrial Portfolio Loan permits the
HSA Memphis Industrial Portfolio Borrowers to substitute any one of the HSA
Memphis Industrial Portfolio Properties for another property so long as certain
conditions are satisfied, including: (i) the loan to value ratio after giving
effect to the proposed property substitution is no greater than the lesser of
the loan to value ratio as of the origination date and the loan to value ratio
immediately prior to the proposed property substitution, and (ii) after giving
effect to the proposed property substitution, the debt service coverage ratio
for the aggregate of all the individual properties for the preceding 12 months
will be no less than the greater of (x) the debt service coverage ratio as of
the origination date, and (y) the debt service coverage ratio immediately prior
to the property substitution.

PILOT LEASES. The HSA Memphis Industrial Portfolio Borrowers' interest in three
of the HSA Memphis Industrial Portfolio Properties is held pursuant to a PILOT
lease with the Industrial Development Board of the City of Memphis and County of
Shelby, Tennessee ("IDB"). The IDB entered into a ground lessor subordination
agreement and encumbered its fee interest. Upon termination of the related PILOT
lease, the HSA Memphis Industrial Portfolio Borrowers have the right to purchase
the related HSA Memphis Industrial Portfolio Properties for a nominal fee.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       51



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                      [THIS PAGE INTENTIONALLY LEFT BLANK.]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       52



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

CAMP HILL SHOPPING CENTER


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                             Camp Hill, PA
Property Type                                                   Anchored Retail
Size (Square Feet)                                                      466,195
Percentage Physical Occupancy as of January 1, 2007                       98.5%
Year Built                                                                 1960
Year Renovated                                                        2004-2006
Appraisal Value                                                     $86,900,000
# of Tenant Leases                                                        26(1)
Average Rent Per Square Foot                                          $12.38(1)
Underwritten Weighted Average Occupancy                                   96.3%
Underwritten Revenues                                                $6,697,457
Underwritten Total Expenses                                          $1,144,537
Underwritten Net Operating Income (NOI)                              $5,552,920
Underwritten Net Cash Flow (NCF)                                     $5,318,262
Trailing 10 annualized NOI (as of 10/31/2006)                        $5,482,454
2005 NOI                                                             $3,852,352
2004 NOI                                                                    NAV
2003 NOI                                                                    NAV
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        KEY
Loan Group                                                                    1
Origination Date                                              December 28, 2006
Cut-off Date Principal Balance                                      $65,000,000
Cut-off Date Loan Balance Per SF/Unit                                   $139.43
Percentage of Initial Mortgage Pool Balance                                1.5%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                             5.50%
Amortization Type                                                    IO-Balloon
IO Period (Months)                                                           60
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         360
Original Call Protection                                    LO(26),Def(90),O(4)
Lockbox                                                                    None
Cut-off Date LTV Ratio                                                    74.8%
LTV Ratio at Maturity or ARD                                              69.5%
Underwritten DSCR on NOI2                                                 1.25x
Underwritten DSCR on NCF3                                                 1.20x
--------------------------------------------------------------------------------

(1)   Information based on the Camp Hill Borrower's rent roll dated January 1,
      2007.

(2)   The Underwritten DSCR on NOI during the interest only period is 1.53x.

(3)   The Underwritten DSCR on NCF during the interest only period is 1.46x.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       53



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       54



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Camp Hill Shopping Center Loan") is evidenced
by a single promissory note secured by a first mortgage encumbering a 466,195
square foot, Class-A, shopping center (the "Camp Hill Shopping Center Property")
located in Camp Hill, Pennsylvania. The Camp Hill Mall Loan represents
approximately 1.5% of the initial mortgage pool balance and approximately 2.0%
of the initial loan group 1 balance.

The Camp Hill Shopping Center Loan was originated on December 28, 2006, and has
a principal balance as of the cut-off date of $65,000,000. The Camp Hill
Shopping Center Loan has a remaining term of 118 months and a scheduled maturity
date of January 1, 2017. The Camp Hill Shopping Center Loan is interest only for
the first five years. The Camp Hill Shopping Center Loan permits defeasance of
the entire loan with United States Treasury obligations or other non-callable
government securities beginning two years and fifteen days after the creation of
the securitization trust. Voluntary prepayment of the Camp Hill Mall Loan is
permitted during the last 120 days of the term without penalty.

THE PROPERTY. The Camp Hill Shopping Center Loan is secured by a fee interest in
a single-story, Class-A, 466,195 sf (which includes 19,050 sf of outparcel space
that is not included in the collateral) anchored shopping center anchored by
Giant Foods and Staples, located in Camp Hill, Cumberland County, Pennsylvania.
Property renovations began in 2004, and the structure was changed from an indoor
mall to a multi-faceted retail power center. The total collateral space of
447,145 sf consists of a 359,641 sf renovated building, a 40,904 sf newly
constructed state-of-the-art medical office building, a 42,000 sf retail
building, and a 4,600 sf outparcel building. This Giant Foods location is a
prototype, which is larger than most, and includes an enclosed glass cooking
school within the shopping floor, chilled grocery delivery facilities, a wi-fi
area, babysitting, and community rooms. Junior anchors include Boscov's, LA
Fitness, Orthopedic Surgeons, Barnes & Noble, and Pier 1 Imports. Some inline
tenants include Panera, Card Express, Five Below, Lenscrafters, Regis, and
Subway. In addition, Arby's, Sovereign Bank, Commerce Bank, PNC Bank and
Wachovia Bank are situated on outlots.

The following table presents certain information relating to the major tenants
at the Camp Hill Shopping Center Property:



-------------------------------------------------------------------------------------------------------------------------------
                                                      TENANT INFORMATION
                                                      ------------------
                                                                 CREDIT RATINGS       SQUARE     % OF    BASE RENT     LEASE
TENANT NAME                        PARENT COMPANY            (FITCH/MOODY'S/S&P)(1)    FEET      GLA        PSF      EXPIRATION
-------------------------------------------------------------------------------------------------------------------------------

Boscov's                   Boscov's Department Store, Inc.            NR              167,597    35.9%     $ 4.43    9/30/2010
Giant Food Store             Koninklijke "Royal" Ahold NV         BB/Ba1/BB+           92,939    19.9       18.08    10/31/2025
LA Fitness                  LA Fitness International, LLC             NR               42,000     9.0       15.27    12/31/2021
Orthopedic Surgeons, Ltd                                              NR               40,904     8.8       16.50    5/31/2016
Barnes & Noble                   Barnes & Noble, Inc.                 NR               24,908     5.3       14.05    1/31/2011
Staples                             Staples, Inc.               BBB+/Baa1/BBB+         20,000     4.3       17.00    6/30/2015
-------------------------------------------------------------------------------------------------------------------------------


(1)   Ratings provided are for the entity identified in the "Parent Company"
      column whether or not the Parent Company guarantees the lease.



----------------------------------------------------------------------------------------------------------------------------------
                                                    LEASE ROLLOVER SCHEDULE(2)
                                                    --------------------------
                  NUMBER                                            % OF       CUMULATIVE   CUMULATIVE   CUMULATIVE   CUMULATIVE %
                OF LEASES   SQUARE FEET   % OF GLA    BASE RENT   BASE RENT   SQUARE FEET    % OF GLA    BASE RENT    OF BASE RENT
YEAR             EXPIRING    EXPIRING     EXPIRING    EXPIRING     EXPIRING     EXPIRING     EXPIRING     EXPIRING      EXPIRING
----------------------------------------------------------------------------------------------------------------------------------

MTM                 2             1937       0.4%       $39,000      0.7%         1,937         0.4%        $39,000        0.7%
2007                0                0         0              0        0          1,937         0.4          39,000        0.7
2008                0                0         0              0        0          1,937         0.4          39,000        0.7
2009                3           10,390       2.2        186,410      2.2         12,327         2.6         225,410        3.9
2010                6          183,324      39.3      1,013,883     17.6        195,651        42.0       1,239,293       21.5
2011                2           29,508       6.3        446,600      7.7        225,159        48.3       1,685,893       29.2
2012                1            1,400       0.3         23,072      0.4        226,559        48.6       1,708,965       29.6
2013                0                0         0              0        0        226,559        48.6       1,708,965       29.6
2014                2            2,248       0.5         53,103      0.9        228,807        49.1       1,762,068       30.5
2015                3           37,030       7.9        651,780     11.3        265,837        57.0       2,413,848       41.8
2016                2           45,904       9.8        724,916     12.6        311,741        66.9       3,138,764       54.4
2017                0                0         0              0        0        311,741        66.9       3,138,764       54.4
Thereafter          5          147,289      31.6      2,634,587     45.6        462,230        99.1       5,773,351        100
Vacant              0            7,165       1.5              0      0.0        466,195         100       5,773,351        100
----------------------------------------------------------------------------------------------------------------------------------
TOTAL              26          466,195       100%    $5,773,351      100%
----------------------------------------------------------------------------------------------------------------------------------


(2)   Information based on the Camp Hill Borrower's rent roll dated January 1,
      2007.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       55



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE MARKET.(1) The Camp Hill Shopping Center Property is located in Camp Hill,
Cumberland County, Pennsylvania, within the Harrisburg MSA, 80 miles north of
the Baltimore MSA and 110 miles west of the Philadelphia MSA. The property is
located on the northwest corner of Trindle Road and Route 15, in the "West
Shore" area at Routes 11, 15, and 581, which is approximately 2 miles northwest
of I-83. A mix of residential, retail, and small office building properties are
located in the immediate vicinity of the subject property. Capital City Mall, a
576,446 sf indoor mall, which possesses anchor tenants Macy's, JCPenney, and
Sears is located approximately 1/4 mile south of the Camp Hill Shopping Center
Property. Also located within the area are the Rossmoyne Business Center and the
US Naval Reservation to the west. The 2006 population within a 1-, 3-, and
5-mile radius of the Camp Hill Shopping Center Property was 7,765, 61,077, and
160,216 respectively. The 2006 median household income within a 1-, 3-, and
5-mile radius was $67,397, $61,971, and $52,422 respectively.

Market rental rates for Community/Power Centers range from $18/sf to $30/sf with
an average of $20/sf, and an average vacancy of 2%. The weighted average rental
rate at the Camp Hill Shopping Center Property is $12.23/sf with a vacancy of
1.6%.

THE BORROWER. Cedar-Camp Hill, LP, a Delaware limited partnership and special
purpose entity (the "Camp Hill Mall Borrower"), holds the fee interest in the
Camp Hill Mall Property. The Camp Hill Mall Borrower is controlled by Cedar Camp
Hill GP, LLC, a Delaware limited liability company, which is, in turn,
controlled by Cedar Shopping Centers Partnership, L.P. (also the indemnitor),
which is, in turn controlled by Cedar Shopping Centers, Inc. Cedar Shopping
Centers, Inc., formerly Cedar Income Fund, Ltd., was organized in 1984 and
became a Real Estate Investment Trust (REIT) in 1986. The company is now a fully
integrated, self-administered, self-managed real estate company that is focused
on the ownership, operation, and re-development of community and neighborhood
shopping centers. As of November 2006, Cedar Shopping Centers, Inc. owned 93
properties, which totaled approximately 9.9 million square feet, located
throughout Pennsylvania, Connecticut, Massachusetts, Michigan, Maryland,
Virginia, New York, Ohio, and New Jersey. 36 of their properties are located in
Pennsylvania.

PROPERTY MANAGEMENT. The property is self-managed by Cedar Shopping Centers,
Inc. Cedar Shopping Centers, Inc. manages all properties under ownership. Cedar
provides day-to-day property management functions including leasing, management
and development services. Cedar is headquartered in Port Washington, New York.
The average occupancy of their portfolio is 91.4%.

LOCKBOX. None.

ESCROWS. None.

ADDITIONAL DEBT. None.

PERMITTED MEZZANINE DEBT. None.

RELEASE PROVISIONS. The Camp Hill Mall Borrower has the right to release a
specifically identified, unimproved, non-income producing portion of the Camp
Hill Mall Property from the lien of the mortgage without prepayment or
defeasance of the Camp Hill Mall Loan to permit the widening of Harrisburg
Expressway. In connection with said release, the Camp Hill Mall Borrower has the
right to grant a temporary easement over a specifically identified, unimproved,
non-income producing portion of the Camp Hill Mall Property to accommodate
construction related to the widening of Harrisburg Expressway.

ADDITIONAL IMPROVEMENTS. The Camp Hill Mall Borrower has the right to construct
2 additional buildings totaling approximately 8,000 net rentable square feet on
the Camp Hill Mall Property as long as certain conditions are satisfied
including, but not limited to, obtaining all necessary permits, variances and
approvals, and completing the improvements in a good, workmanlike and lien-free
manner.

(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       56



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

MEDICAL CENTRE OF SANTA MONICA


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                          Santa Monica, CA
Property Type                                                 Office -- Medical
Size (Square Feet)                                                      204,747
Percentage Physical Occupancy as of November 14, 2006                    100.0%
Year Built                                                                 1965
Year Renovated                                                             1977
Appraisal Value                                                     $98,000,000
# of Tenants                                                                 89
Average Rent Per Square Foot                                             $38.67
Underwritten Economic Occupancy                                           95.0%
Underwritten Revenues                                                $9,711,758
Underwritten Total Expenses                                          $3,532,997
Underwritten Net Operating Income (NOI)                              $6,178,761
Underwritten Net Cash Flow (NCF)                                     $5,790,980
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        CRF
Loan Group                                                                    1
Origination Date                                              December 19, 2006
Cut-off Date Principal Balance                                      $62,000,000
Cut-off Date Loan Balance Per Square Foot                                  $303
Percentage of Initial Mortgage Pool Balance                                1.4%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                      Leasehold
Mortgage Rate                                                           5.5830%
Amortization Type                                                 Interest Only
IO Period (Months)                                                          120
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         NAP
Original Call Protection                         LO(26),Def(34),LESSofDeforGRTR
                                                              ofYMor1%(56),O(4)
Lockbox                                                                     NAP
Cut-off Date LTV Ratio                                                    63.3%
LTV Ratio at Maturity or ARD                                              63.3%
Underwritten DSCR on NOI                                                  1.76x
Underwritten DSCR on NCF                                                  1.65x
--------------------------------------------------------------------------------


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       57



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       58



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Medical Centre of Santa Monica Loan") is
evidenced by a single promissory note secured by a first priority deed of trust
encumbering two, Class A medical office buildings and a six-level parking garage
in Santa Monica, California (the "Medical Centre of Santa Monica Property"). The
Medical Centre of Santa Monica Loan represents approximately 1.4% of the initial
mortgage pool balance and approximately 1.9% of the initial loan group 1
balance.

The Medical Centre of Santa Monica Loan was originated on December 19, 2006, and
has a principal balance as of the cut-off date of $62,000,000. The Medical
Centre of Santa Monica Loan has a remaining term of 118 months and a scheduled
maturity date of January 8, 2017. The Medical Centre of Santa Monica Loan
permits defeasance of the entire loan with United States Treasury obligations or
other non-callable government securities beginning two years after the creation
of the securitization trust. In addition, the loan documents permit prepayment
from and after the 61st payment date together with yield maintenance (unless the
cost to defease the Medical Centre of Santa Monica Loan is less than the cost of
prepaying with yield maintenance in which case the Medical Centre of Santa
Monica Borrower will be required to defease the Medical Centre of Santa Monica
Loan). Voluntary prepayment of the Medical Centre of Santa Monica Loan is
permitted on or after October 8, 2016, without penalty.

THE PROPERTY. The Medical Centre of Santa Monica Property is secured by the
leasehold interest in two, Class A medical office buildings that total 204,747
square feet and a six-level parking garage consisting of 922 spaces (4.6 spaces
per 1,000 square feet) located at the northeast corner of Santa Monica Boulevard
and 20th Street in Santa Monica, California. The buildings are located adjacent
to the St. John's Hospital and Health Center campus, a 182-bed, full-service
hospital. In addition, the Santa Monica UCLA Medical Center, an approximately
337-bed acute-case hospital, is located only six blocks west of the Medical
Centre of Santa Monica Property. According to the appraiser, Century City
Hospital and Cedars Sinai Medical Center are also in close proximity to the
Medical Centre of Santa Monica Property. The Medical Centre of Santa Monica
Property is 100% occupied by approximately 90 tenants of diverse medical
backgrounds.

The twelve-story West Building, located at 2001 Santa Monica Boulevard, was
constructed in 1977 and provides 140,773 net rentable square feet (68.75% of
total net rentable area), which includes a 4,564 square foot pharmacy located on
the ground floor. The seven-story East Building, located at 2021 Santa Monica
Boulevard, was constructed in 1964 and provides 63,974 net rentable square feet
(31.25% of total net rentable area). The two buildings are connected by an
enclosed walkway on the second floor. An additional pedestrian bridge connects
the parking garage to the adjacent Saint John's Health Center. The East Building
is served by two elevators while the West Building is served by four elevators.

The following tables present certain information regarding the Medical Centre of
Santa Monica Loan Property.



-----------------------------------------------------------------------------------------------------------------
                                           MAJOR TENANT INFORMATION(1)
                                           ---------------------------
                                                           BASE RENT PER    % OF TOTAL BASE
       TENANT NAME            SQUARE FEET     % OF GLA      SQUARE FOOT          RENT            LEASE EXPIRATION
-----------------------------------------------------------------------------------------------------------------

The Angeles Clinic              14,089          6.9%           $39.20             7.0%             2/28/2011
ALHE, LLC                       12,405          6.1             42.15             6.6              9/30/2013
Pacific Heart Institute          9,552          4.7             37.52             4.5              2/28/2012
SMBP Health Services             6,082          3.0             39.01             3.0              3/31/2014
SM Hematology - Oncology         5,577          2.7             37.31             2.6              9/30/2010
-----------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE          47,705         23.3%           $39.39            23.7%
-----------------------------------------------------------------------------------------------------------------


(1)   Based on information obtained from the Medical Centre of Santa Monica
      Borrower's rent roll dated November 14, 2006.



-----------------------------------------------------------------------------------------------
                                LEASE ROLLOVER SCHEDULE(1),(2)
                                ------------------------------
                NUMBER OF                                                           CUMULATIVE
                 TENANTS    SQUARE FEET   % OF GLA     BASE RENT   % OF BASE RENT   SQUARE FEET
   YEAR         EXPIRING     EXPIRING     EXPIRING     EXPIRING       EXPIRING       EXPIRING
-----------------------------------------------------------------------------------------------

  Vacant          NAP               0        0.0%             $0         0.0%               0
   MTM             1            2,091        1.0       79,205.00         1.0            2,091
   2007           17           43,524       21.3       1,694,290        21.4           45,615
   2008           20           33,695       16.5       1,295,589        16.4           79,310
   2009            6           13,587        6.6         517,228         6.5           92,897
   2010           17           33,057       16.2       1,264,848        16.0          125,954
   2011           12           31,927       15.6       1,248,235        15.8          157,881
   2012            4           12,487        6.1         470,845         6.0          170,368
   2013            3           15,471        7.6         639,063         8.1          185,839
   2014            5           11,880        5.8         443,965         5.6          197,719
   2015            1            3,487        1.7         132,000         1.7          201,206
   2016            3            3,541        1.7         133,093         1.7          204,747
Thereafter         0               --         --              --          --          204,747
-----------------------------------------------------------------------------------------------
TOTAL             89          204,747      100.0%     $7,918,361       100.0%
-----------------------------------------------------------------------------------------------


-------------------------------------------------------------
                   LEASE ROLLOVER SCHEDULE(1),(2)
                   ------------------------------
                CUMULATIVE %                     CUMULATIVE %
                  OF GLA      CUMULATIVE BASE   OF BASE RENT
   YEAR          EXPIRING      RENT EXPIRING      EXPIRING
-------------------------------------------------------------

  Vacant            0.0%        $        0           0.0%
   MTM              1.0         $79,205.00           1.0
   2007            22.3          1,773,495          22.4
   2008            38.7          3,069,084          38.8
   2009            45.4          3,586,312          45.3
   2010            61.5          4,851,160          61.3
   2011            77.1          6,099,395          77.0
   2012            83.2          6,570,240          83.0
   2013            90.8          7,209,303          91.1
   2014            96.6          7,653,268          96.1
   2015            98.3          7,785,268          98.2
   2016           100.0          7,918,361         100.0
Thereafter        100.0          7,918,361         100.0
-------------------------------------------------------------
TOTAL
-------------------------------------------------------------


(1)   Based on information obtained from the Medical Centre of Santa Monica
      Borrower's rent roll dated November 14, 2006.

(2)   The numbers in this chart are based on the assumption that no tenant
      exercises an early termination option.

_________________

THE MARKET.(1) The Medical Centre of Santa Monica Property is located in Santa
Monica, California, approximately 15 miles west of downtown Los Angeles. Access
to the Medical Centre of Santa Monica Property is provided via Santa Monica
Boulevard, a major east/west artery that is considered


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       59



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

one of Los Angeles most-heavily traveled streets. Additionally, the buildings
are located less than a 1/2 mile north of the Santa Monica Freeway (I-10), which
connects to Interstate 405 and provides direct access to downtown Los Angeles.

The appraiser identified five rental comparables located within the West Los
Angeles medical office submarket. The comparables were constructed between 1923
and 1989 and range in size from 36,765 to 204,743 square feet. Each of the
comparables is 100% occupied. The comparables indicated achieved rental rates
ranging from $37.80 to $45.00 per square foot per year on a modified gross
basis. The aforementioned rental rates are subject to annual escalations based
on the percentage increase in CPI. Concessions are nonexistent within the
submarket while tenant improvement allowances range from $10.00 to $35.00 per
square foot for new tenants.

THE BORROWER. Medical Associates (the "Medical Centre of Santa Monica Borrower")
is a single purpose entity that is a California limited partnership. The general
partner of the Medical Centre of Santa Monica Borrower is Held Group/MCSM,
L.L.C. (with approximately 3.6% ownership interest). The sole member of Held
Group/MCSM, L.L.C. is The Held Group, LLC. The Held Surviving Spouse Trust and
the Held Marital Deduction Trust are each 50% members of the Held Group, LLC.
Harold Held is the trustee of each trust.

The sponsor and the non-recourse carve-out guarantor, Harold A. Held, has been
involved in Los Angeles real estate since 1946. He founded Held Properties in
1984 and is currently Chairman of the Board. According to Harold Held, he has
developed, operated and managed the construction of over 2 million square feet
of commercial real estate.

PROPERTY MANAGEMENT. The property manager for the Medical Centre of Santa Monica
property is Held Properties, Inc., a California corporation that is affiliated
with the Borrower.

LOCKBOX. The Medical Centre of Santa Monica Loan documents do not require a
lockbox.

ESCROWS/RESERVES. There are no reserves related to the Medical Centre of Santa
Monica Loan.

PERMITTED MEZZANINE DEBT. The Medical Centre of Santa Monica Loan documents
permit the direct or indirect parents of the Medical Centre of Santa Monica
Borrower to incur mezzanine debt, not less than twelve months after the
origination date, subject to the satisfaction of, among other items, the
following conditions: (i) the aggregate amount of the Medical Centre of Santa
Monica Loan and the mezzanine loan (as of the effective date of the mezzanine
loan) does not exceed 70% of the fair market value of the Medical Centre of
Santa Monica Property, (ii) the aggregate debt service coverage ratio is at
least 1.30x, and the stressed aggregate debt service coverage ratio is at least
0.90x, (iii) the mezzanine lender has executed and delivered an intercreditor
agreement acceptable to lender and (iv) the lender has received a confirmation
from each of the rating agencies that the incurrence of the mezzanine loan will
not result in any qualification, withdrawal or downgrading of any existing
ratings of the certificates.

LEASEHOLD INTEREST. The Medical Centre of Santa Monica Loan is secured by the
Medical Centre of Santa Monica Borrower's leasehold interest in the Medical
Centre of Santa Monica Property. Sisters of Charity of Leavenworth Health
Services Corporation, a Kansas not-for-profit corporation that owns St. John's
Hospital and Health Center, is the ground lessor. The ground lease term
commenced on November 19, 1975 and expires on December 31, 2050. The basic rent
payable under the lease is currently $69,999.84 per annum. In addition to the
basic rent, the Medical Centre of Santa Monica Borrower is required to pay
additional rent in an amount equal to a certain percentage of gross receipts
over an annual floor. The tenant must also pay a certain percentage of gross
receipts for a capital improvements reserve.

_______________

(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       60



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

HOLIDAY INN EXPRESS -- CHELSEA


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Properties                                                1
Location (City/State)                                              New York, NY
Property Type                                                       Hospitality
Size (Rooms)                                                                228
Percentage Physical Occupancy as of December 31, 2006                     80.3%
Year Built                                                                 2006
Appraisal Value                                                     $94,000,000
Underwritten Economic Occupancy                                           85.0%
Underwritten Revenues                                               $14,205,850
Underwritten Total Expenses                                         $ 7,709,854
Underwritten Net Operating Income (NOI)                              $6,495,996
Underwritten Net Cash Flow (NCF)                                     $5,927,762
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                       IXIS
Loan Group                                                                    1
Origination Date                                               October 31, 2006
Cut-off Date Principal Balance                                      $55,000,000
Cut-off Date Loan Balance Per Room                                     $241,228
Percentage of Initial Mortgage Pool Balance                                1.2%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                           6.5000%
Amortization Type                                                    IO-Balloon
IO Period (Months)                                                           60
Original Term to Maturity/ARD (Months)                                      120
Original Amortization Term (Months)                                         330
Original Call Protection                                   LO(24), YM(93), O(3)
Lockbox                                                          Hard, In Place
Cut-off Date LTV Ratio                                                    58.5%
LTV Ratio at Maturity or ARD                                              54.3%
Underwritten DSCR on NOI(1)                                               1.51x
Underwritten DSCR on NCF(2)                                               1.38x
--------------------------------------------------------------------------------

(1)   The Underwritten DSCR on NOI during the interest only period is 1.79x.

(2)   The Underwritten DSCR on NCF during the interest only period is 1.63x.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       61



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       62



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Holiday Inn Express -- Chelsea Loan") is
evidenced by a single promissory note and is secured by a first priority fee
mortgage encumbering the 228 room, limited-service hotel known as the Holiday
Inn Express -- Chelsea (the "Holiday Inn Express -- Chelsea Property"), located
in New York, New York. The Holiday Inn Express -- Chelsea Loan represents 1.2%
of the initial mortgage pool balance and 1.7% of the initial loan group 1
balance.

The Holiday Inn Express -- Chelsea Loan was originated October 31, 2006 and has
a principal balance as of the cut-off date of $55,000,000. The Holiday Inn
Express -- Chelsea Loan has a remaining term of 116 months to its maturity date
of November 5, 2016. Beginning on December 5, 2008, The Holiday Inn Express --
Chelsea Loan permits prepayment subject to payment of a yield maintenance
premium. The Holiday Inn Express -- Chelsea Loan may be voluntarily prepaid
without payment of a yield maintenance premium on or after September 5, 2016.

THE PROPERTY. The Holiday Inn Express -- Chelsea Property is a fourteen-story,
limited service hotel located on the south side of West 29th Street between 7th
and 8th Avenues within in the Chelsea neighborhood of lower Midtown Manhattan.
The Holiday Inn Express -- Chelsea Property offers 228 guestrooms including 121
king rooms, 13 king rooms with Jacuzzis, 82 double-doubles, and 12 queen
handicap accessible rooms. The rooms include an easy chair, coffee table,
microwave, small refrigerator, and coffee maker, desk with an ergonomic chair,
telephone and television. All guest rooms have data ports and offer free high
speed wireless internet access. Irons, ironing boards, and hair dryers are also
standard in every room. Additionally, the hotel will offer the brand standard
complimentary continental breakfast "Express Start" breakfast bar on the lobby
level, with seating for about 60 people. There is no parking available at the
Holiday Inn Express -- Chelsea Property, but the hotel is adjacent to several
public parking garages.

The Holiday Inn Express -- Chelsea Property is a steel frame and concrete block
building featuring a brick veneer and an understated porte cochere over the
front entryway. The architecture complements the historic attributes of Chelsea
but in a contemporary building. The lower level of the Holiday Inn Express --
Chelsea Property houses the guest business center, and a fitness center, and
accesses a two-story garden terrace. The main level of the Holiday Inn Express
-- Chelsea Property houses guest registration, the breakfast area and pantry,
and offices for the General Manager and the Assistant General Manager/Front
Office Manager. Some guest rooms are located on the this floor as well as the
lower level, facing the outdoor garden terrace. Floors 2-14 house the remaining
guest rooms and some of the hotel's mechanical rooms.

The following tables present certain information relating to the Holiday Inn
Express -- Chelsea Property:

           -----------------------------------------------------
                         OPERATIONAL STATISTICS(1)
                         -------------------------
                                           YTD DECEMBER 31, 2006
           -----------------------------------------------------
           Average Daily Rate (ADR)               $217.62
           Occupancy %                              80.3%
           RevPAR                                 $174.74
           -----------------------------------------------------

(1)   Information obtained from Borrower's operating statements for the period
      October -- December 2006.

THE MARKET(2). The Holiday Inn Express -- Chelsea Property is located on the
south side of West 29th Street between Seventh and Eighth Avenues in the Chelsea
neighborhood of lower Midtown Manhattan. The Holiday Inn Express -- Chelsea
Property is within walking distance of Penn Station, Madison Square Garden, the
Jacob K. Javits Convention Center, the Fashion Institute of Technology, the
Empire State Building, publishing houses, ad agencies, retail centers on Lower
Fifth Avenue, and the eclectic array of art galleries, theaters and restaurants
throughout Chelsea.

New York City is home to world class cultural, recreational and entertainment
attractions, most of which are concentrated in Manhattan. New York City has 150
museums, 400 art galleries, 37 Broadway theaters, Lincoln Center, the
Metropolitan Opera, New York City Ballet-Carnegie Hall, and Radio City Music
Hall, as well as numerous other dance and theater companies. Landmark
attractions in Manhattan include Times Square, Rockefeller Center, the Empire
State Building, Central Park, the United Nations, South Street Seaport, the New
York Stock Market, and Battery Park City. Major trade shows and functions occur
at venues throughout the city, including Madison Square Garden and Jacob K.
Javits Convention Center. Madison Square Garden is home to the New York Knicks
NBA basketball team and the Rangers NHL hockey team.

The lodging market in New York City has recovered since the devastation of
September 11, 2001. Over the last six years, demand among this competitive set
has grown at an average annual rate of 5.9% with supply growth also at 5.9%.
Room supply in the limited service sector has grown every year since 2003
culminating with the opening of the Wingate Inn and Holiday Inn Express in
October 2006. According to Smith Travel Research (STR), lodging demand in the
competitive set was flat in 2002, experienced a 3.4% increase in 2003,
flourished at 17.2% growth in 2004, and decreased 2.0% in 2005. The decrease in
2005 was partially attributable to the reduction in available rooms at the
Hilton Garden Inn, Hampton Inn Times Square, and Quality Inn, all of which were
under major construction. From 2005 to 2006, the competitive set demonstrated
further growth with a 15.3% increase in occupancy and a 30.4% increase in
revenue per available room.

(2)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       63



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE BORROWER. The borrower is Brisam Management (DE) LLC, a Delaware limited
liability company and a special purpose entity (the "Holiday Inn Express --
Chelsea Borrower"), controlled by Sam Chang, who is the sponsor of the borrower.
Mr. Chang has experience in all aspects of the lodging industry, including
construction, development, operations, renovations, and purchasing. Since 1998,
Mr. Chang has developed more than 60 hotels, as well as other commercial and
residential properties.

PROPERTY MANAGEMENT. The Holiday Inn Express -- Chelsea Property is managed by
Hersha Hospitality Management, LP, a Pennsylvania limited partnership, an entity
affiliated with the Holiday Inn Express -- Chelsea Borrower.

LOCKBOX. The Holiday Inn Express -- Chelsea Loan requires a hard lockbox and
in-place cash management. The Holiday Inn Express -- Chelsea Borrower is
required to cause all rents, credit card receivables and other gross revenues to
be deposited into an account controlled by the lender within one business day of
receipt. Funds on deposit in that account will be swept by the account bank on a
daily basis into an account controlled by the lender and will be applied and
disbursed in accordance with the loan agreement.

ESCROWS. The following escrows/reserves have been established with respect to
the Holiday Inn Express -- Chelsea Loan:

           -----------------------------------------------------
                             ESCROWS/RESERVES
                             ----------------
           TYPE:                           INITIAL       MONTHLY
           -----------------------------------------------------
           Taxes                                $0       $66,667
           Insurance                            $0       $15,469
           Capital Expenditure / FF&E(1)        $0       $12,592
           -----------------------------------------------------

(1)   Monthly FF&E: The replacement reserve payments for periods 1-14 will equal
      2% of gross revenues for the previous month, 2% of the gross revenues for
      the first calendar year for periods 15-26, 3% of the gross revenues for
      the second calendar year for periods 27-38, and 4% of gross revenues for
      the previous calendar year thereafter.

ADDITIONAL DEBT. Brisam Management LLC, the sole member of the Holiday Inn
Express -- Chelsea Borrower, has incurred mezzanine debt from Hersha Hospitality
Limited Partnership in the amount of $15,000,000 secured by its equity interests
in the Holiday Inn Express -- Chelsea Borrower.

RELEASE PROVISIONS. None.

SUBSTITUTION PROVISIONS. None.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       64



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

MIAMI AIRPORT INDUSTRIAL PARKS


                                 [PHOTO OMITTED]


--------------------------------------------------------------------------------
                              PROPERTY INFORMATION
--------------------------------------------------------------------------------
Number of Mortgaged Real Properties                                           1
Location (City/State)                                                 Miami, FL
Property Type                                                        Industrial
Size (Square Feet)                                                      746,189
Percentage Physical Occupancy as of
     January 4, 2007                                                      99.4%
Year Built                                                                 1984
Year Renovated                                                             1987
Appraisal Value                                                     $67,000,000
# of Tenants                                                                193
Average Rent Per Square Foot                                              $8.77
Underwritten Economic Occupancy                                           95.0%
Underwritten Revenues                                                $6,608,008
Underwritten Total Expenses                                          $2,264,137
Underwritten Net Operating Income (NOI)                              $4,343,871
Underwritten Net Cash Flow (NCF)                                     $4,071,802
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                            MORTGAGE LOAN INFORMATION
--------------------------------------------------------------------------------
Mortgage Loan Seller                                                        CRF
Loan Group                                                                    1
Origination Date                                               January 22, 2007
Cut-off Date Principal Balance                                      $53,500,000
Cut-off Date Loan Balance Per Square Foot                                   $72
Percentage of Initial Mortgage Pool Balance                                1.2%
Number of Mortgage Loans                                                      1
Type of Security (Fee/Leasehold)                                            Fee
Mortgage Rate                                                           5.4700%
Amortization Type                                                 Interest Only
IO Period (Months)                                                           84
Original Term to Maturity/ARD (Months)                                       84
Original Amortization Term (Months)                                         NAP
Original Call Protection                                    LO(25),Def(57),O(2)
Lockbox                                                                    Hard
Cut-off Date LTV Ratio                                                    79.9%
LTV Ratio at Maturity or ARD                                              79.9%
Underwritten DSCR on NOI                                                  1.46x
Underwritten DSCR on NCF                                                  1.37x
--------------------------------------------------------------------------------


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       65



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------


                                  [MAP OMITTED]


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       66



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

THE LOAN. The mortgage loan (the "Miami Airport Industrial Parks Loan") is
evidenced by a single promissory note secured by a first priority mortgage
encumbering 11 industrial buildings consisting of industrial space, showroom
space and industrial/showroom space located in two Class B business parks
located in Miami, Florida (collectively, the "Miami Airport Industrial Parks
Properties"). The Miami Airport Industrial Parks Loan represents approximately
1.2% of the initial mortgage pool balance and approximately 1.7% of the initial
loan group 1 balance.

The Miami Airport Industrial Parks Loan was originated on January 22, 2007, and
has a principal balance as of the cut-off date of $53,500,000. The Miami Airport
Industrial Parks Loan has a remaining term of 83 months and a scheduled maturity
date of February 8, 2014. The Miami Airport Industrial Parks Loan permits
defeasance of the entire loan with United States Treasury obligations or other
non-callable government securities beginning two years after the creation of the
securitization trust. Voluntary prepayment of the Miami Airport Industrial Parks
Loan is permitted on or after January 8, 2014, without penalty.


THE PROPERTY. The Miami Airport Industrial Parks Loan is secured by 11
industrial buildings located in two Class B business parks, consisting of
approximately 746,189 square feet, comprised of industrial space (74.58%),
showroom space (18.34%) and industrial/showroom space (7.08%), located in Miami,
Florida. The Miami Airport Industrial Parks Properties are occupied with over
170 tenants, each occupying less than 5% of the total square feet. The buildings
were built from 1984.


Miami International Airport Industrial Park. Eight of the eleven buildings are
situated at the business park known as the Miami International Airport
Industrial Park and located at 2600-3030 NW 72nd Avenue and 7200-7256 NW 31st
Street. The Miami International Airport Industrial Park is across the street
from the cargo entrance to the Miami International Airport. The Miami Airport
Industrial Parks Properties located in this park are improved with eight,
masonry and steel, rectangular shaped, single-story, flat roofed industrial and
showroom space buildings. The buildings have approximate dimensions of 460' in
length and 160' in depth for each leg of the "L" and average approximately
62,300 square feet per building.

Milam Industrial Center. Three of the eleven buildings are situated at the
business park known as the Milam Industrial Center located at 4400 NW 72nd
Avenue, 4500 NW 73rd Avenue, and 7301 NW 46th Street. The Milam Industrial
Center is located approximately 2 miles from the Miami International Airport
Industrial Park. The Miami Airport Industrial Parks Properties located in the
Milam Industrial Center are improved with three, masonry and steel, rectangular
shaped, single-story, flat roofed industrial and showroom space buildings. Two
of the buildings have approximate dimensions of 500' in length and 220' in depth
and average approximately 104,000 square feet per building. The other building
has approximate dimensions of 460' in length and 120' in depth.

Some interior units at the Miami Airport Industrial Parks Properties are
arranged with showroom or office space in the front and storage, receiving and
machine shop or service areas in the rear. The office areas are finished with
tenant specific display systems. The storage and machine shop style areas are
generally open with no specialty offices or display areas. The warehouse
portions of the buildings have clear heights of approximately 20'. The Miami
International Airport Industrial Park portion of the Miami Airport Industrial
Parks Properties is occupied by approximately 139 tenants in spaces ranging from
1,900 to 7,600 square feet. The Milam Industrial Center portion of the Miami
Airport Industrial Parks Properties is occupied by approximately 34 tenants in
spaces ranging from 2,000 to almost 9,000 square feet.

Interstate 95 provides primary access to the Miami Airport Industrial Parks
Properties from the east and the Florida Turnpike provides access from the west.
Interstate 95 and the Florida Turnpike are accessible from the Dolphin
Expressway (State Route 836), which extends east and west and is located about
3.5 miles to the west of the Miami Airport Industrial Parks Properties. Locally,
access is provided by NW 7th Street, and Lejeune Road (N. W. 42nd Avenue) and NW
72nd Avenue of Milam Dairy Road.

The following tables present certain information regarding the Miami Airport
Industrial Parks Loan Properties.



---------------------------------------------------------------------------------------------------------------------------
                                                MAJOR TENANT INFORMATION(1)
                                                ---------------------------

                                                                      CREDIT RATING        SQUARE     % OF    BASE RENT PER
TENANT NAME                         PARENT COMPANY               (FITCH/MOODY'S/S&P)(2)     FEET      GLA      SQUARE FOOT
---------------------------------------------------------------------------------------------------------------------------

Orion Engines            Mitsubishi UFJ Financial Group, Inc.          NR/NR/A-            47,305      6.3%           $6.79
Florida International                                                     NR               29,100      3.9             7.12
West Michigan                                                             NR               19,400      2.6             6.46
Collection 2000                                                           NR               12,150      1.6             5.76
FSFG                                                                      NR               11,700      1.6             8.50
---------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE                                                                    119,655     16.0%           $6.88
---------------------------------------------------------------------------------------------------------------------------


---------------------------------------------------
            MAJOR TENANT INFORMATION(1)
            ---------------------------

                            % OF TOTAL      LEASE
TENANT NAME                 BASE RENT    EXPIRATION
---------------------------------------------------

Orion Engines                   5.0%     6/30/2007
Florida International           3.2      6/30/2008
West Michigan                   1.9      2/28/2008
Collection 2000                 1.0      6/30/2008
FSFG                            1.5      6/30/2007
---------------------------------------------------
TOTAL/WEIGHTED AVERAGE         12.7%
---------------------------------------------------


(1)   Based on information obtained from the Miami Airport Industrial Parks
      Borrowers' rent roll dated January 4, 2007.

(2)   Credit Ratings are of the parent company whether or not the parent
      guarantees the lease.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       67



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------



------------------------------------------------------------------------------------------------------------------
                                           LEASE ROLLOVER SCHEDULE(1),(2)

                                                                                    CUMULATIVE
                 NUMBER OF      SQUARE FEET   % OF GLA    BASE RENT     % OF BASE   SQUARE FEET     CUMULATIVE %
YEAR          LEASES EXPIRING    EXPIRING     EXPIRING    EXPIRING    RENT EXPIRING  EXPIRING     OF GLA EXPIRING
------------------------------------------------------------------------------------------------------------------

Vacant              NAP              4,600       0.6%    $        0         0.0%         4,600           0.6%
MTM                 24              82,180      11.0        822,485        12.7         86,780          11.6
2007                76             273,335      36.6      2,574,386        39.8        360,115          48.2
2008                60             237,397      31.8      1,910,865        29.6        597,512          80.0
2009                30             127,602      17.1        991,490        15.3        725,114          97.1
2010                 2              16,400       2.2        109,128         1.7        741,514          99.3
2011                 1               4,675       0.6         59,259         0.9        746,189         100.0
2012                 0                   0        --             --          --        746,189         100.0
Thereafter           0                  --        --             --          --        746,189         100.0
------------------------------------------------------------------------------------------------------------------
TOTAL               193            746,189     100.0%    $6,467,613       100.0%
------------------------------------------------------------------------------------------------------------------


-------------------------------------------
        LEASE ROLLOVER SCHEDULE(1),(2)

               CUMULATIVE     CUMULATIVE
               BASE RENT    % OF BASE RENT
YEAR            EXPIRING       EXPIRING
-------------------------------------------

Vacant         $        0        0.00%
MTM               822,485       12.72
2007            3,396,871       52.52
2008            5,307,736       82.07
2009            6,299,226       97.40
2010            6,408,354       99.08
2011            6,467,613      100.00
2012            6,467,613      100.00
Thereafter      6,467,613      100.00
-------------------------------------------
TOTAL
-------------------------------------------


(1)   Based on Information obtained from the Borrower's rent roll dated January
      4, 2007.

(2)   The numbers in this chart are based on the assumption that no tenant
      exercises an early termination option.

THE MARKET.(1) The Miami Airport Industrial Parks Properties are within 10
minutes of Miami International Airport and within 25 minutes of the Miami
central business district. The Miami International Airport is the primary
business generator in the area of the Miami Airport Industrial Parks Properties.
The Miami International Airport is the number one airport in the United States
for international freight and the number three airport in the United States for
total cargo.

The Miami Airport Industrial Parks Properties are located in the Airport/West
submarket. Over the past two years, the vacancy in the Airport/West submarket
has ranged between 3.8% and 8.7%. In the third quarter 2006, the Airport/West
submarket exhibited net absorption of 627,111 square feet, 811,734 square feet
in the second quarter of 2006, 77,417 square feet in the first quarter of 2006,
and 143,428 square feet in the fourth quarter of 2005.

The Miami Airport Industrial Parks Properties are located within the Miami-Dade
County market. The Miami-Dade County overall industrial vacancy rate as of the
third quarter of 2006 was 3.8%. In this market, flex projects experienced a
vacancy rate of 4.9% at the end of the second and third quarters 2006, 6.7% at
the end of the first quarter 2006, and 6.1% at the end of the fourth quarter
2005. Warehouse projects experienced a vacancy rate of 3.7% at the end of the
third quarter 2006, 4.1% at the end of second quarter 2006, 3.7% at the end of
the first quarter 2006, and 4.0% at the end of the fourth quarter 2005. The
overall Miami-Dade County Industrial market experienced a positive net
absorption of approximately 1,057,887 square feet in the third quarter of 2006.

The average quoted asking rental rate for available industrial space was $7.66
per square foot per year at the end of the third quarter 2006 in the Miami-Dade
County market area, up $0.20 per square foot or 2.7% higher than the quoted
rental rate average from the end of the second quarter 2006. The average quoted
rate within the flex sector was $15.72 per square foot at the end of the third
quarter 2006, while warehouse rates stood at $7.24. The overall industrial
rental rate increased 5.9% from one year ago in the third quarter 2005 and 2.45%
in the second quarter of 2006. During this same period, the rental rate for flex
space has experienced a 23.3% increase and the rental rate for warehouse space
has increased an 11% increase.

THE BORROWERS. The borrowers are six tenants in common (collectively, the "Miami
Airport Industrial Parks Borrowers"), each of which is a single purpose entity,
five of which are a Delaware limited liability company and one of which is a
Florida limited liability company. These entities are directly and/or indirectly
owned by Francis Greenburger, Robert Lapin, West Eighties Equities II LLC, Time
Equities I Limited Partnership #10, 125 Maiden Equities LLC and other individual
investors.

The sponsor is Francis Greenburger, who is also the founder, Chairman and CEO of
Time Equities, Inc. Founded in 1966, Time Equities, Inc. ("TEI") has been in the
real estate investment, development and asset & property management business for
more than 40 years. According to TEI, it currently holds in its own portfolio
approximately 19.4 million square feet of residential, industrial, office and
retail property.

PROPERTY MANAGEMENT. The property manager for the Miami Airport Industrial Parks
Loan is Americas Property Management Corporation, an unrelated third party that
is not affiliated with the Miami Airport Industrial Parks Borrowers. The
property manager is a full service commercial property management firm
specializing in industrial and flex properties. According to Americas Property
Management Corporation, it was founded in 1995, and is the 5th largest
commercial property management firm in South Florida. The company currently
manages over 8 million square feet in 22 business parks and free standing
buildings.

LOCKBOX. The Miami Airport Industrial Parks Loan requires a hard lockbox and
springing cash management. The Miami Airport Industrial Parks Loan documents
require the Miami Airport Industrial Parks Borrowers to direct the tenants to
pay their rent directly to the lockbox account. Upon a Cash Management Period,
payments in the cash collateral account will be applied to debt service and
reserves in accordance with the loan documents.

___________________
(1)   Certain information in this section was obtained from a third party
      appraisal. The appraisal relies on many assumptions, and no representation
      is made as to the accuracy of the assumptions underlying the appraisal.


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       68



ML-CFC COMMERCIAL MORTGAGE TRUST 2007-5

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-5
--------------------------------------------------------------------------------

A "Cash Management Period" will occur in an event of default or upon a Cash
Sweep Event and will end when the event of default no longer exists or a Cash
Sweep Termination Event has occurred.

A "Cash Sweep Event" will occur if the debt service coverage ratio as of the
last day of any calendar quarter is less than 1.05:1.00.

A "Cash Sweep Termination Event" means that the debt service coverage ratio has
been at least 1.10:1.00 for at least 2 consecutive calendar quarters and no
event of default then exists.

CASHFLOW SWEEP. Commencing on the occurrence of a Cash Sweep Event (as defined
above) any funds remaining in the cash collateral account after the funding of
debt service, reserves, operating expenses and extraordinary expenses will be
swept into the excess cash collateral account and held as additional collateral
until the occurrence of a Cash Sweep Termination Event (as defined above).

ESCROWS/RESERVES. The following escrow/reserve accounts have been established
with respect to the Miami Airport Industrial Parks Loan.

           -----------------------------------------------------
                             ESCROWS/RESERVES
                             ----------------
           TYPE:                            INITIAL      MONTHLY
           -----------------------------------------------------
           Taxes                           $207,322      $69,107
           Insurance                        $87,353      $43,677
           TI/LC Reserve                         $0      $15,417
           Capital Expenditure Reserve           $0       $6,153
           -----------------------------------------------------


This material is being provided by Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Countrywide Securities Corporation, IXIS Securities North America
Inc., Bear, Stearns & Co. Inc., KeyBanc Capital Markets, a Division of McDonald
Investments Inc. and Banc of America Securities LLC (collectively, the
"Underwriters") for your information. 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. The
information contained in this material may pertain to securities that ultimately
are not sold. The information contained in this material may be based on
assumptions regarding market conditions and other matters as reflected herein.
The Underwriters make no representation regarding the likelihood that any of
such assumptions will coincide with actual market conditions or events. The
Underwriters and their 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 herein or derivatives thereof (including options).
Information contained in this material is current as of the date appearing in
this material only. INFORMATION IN THIS MATERIAL REGARDING ANY ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN SUPERSEDES ALL PRIOR INFORMATION REGARDING SUCH
ASSETS. ANY INFORMATION IN THIS MATERIAL, WHETHER REGARDING THE ASSETS BACKING
ANY SECURITIES DISCUSSED HEREIN OR OTHERWISE, WILL BE SUPERSEDED BY THE
INFORMATION CONTAINED IN ANY PROSPECTUS DELIVERED TO YOU PRIOR TO THE TIME OF
SALE. The Underwriters are acting as underwriters and not acting as agents for
the issuer in connection with the proposed transaction.

                                       69




















                     [THIS PAGE INTENTIONALLY LEFT BLANK.]