**Exhibit 99.1**

 

**FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC.**

**COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,SERIES 1997-C1**

 

ITEM 12.           Security Ownership of Certain BeneficialOwners

 

As of December 31, 2004,the following persons were known to the Registrant to be the registeredbeneficial owners of more than 5% of the aggregate fractional undividedinterest evidenced by each Class of the Certificates referenced below:

 
| **TITLE   OF CLASS** | ** ** | **NAME AND ADDRESS  OF BENEFICIAL HOLDERS**                                                                                   | ** ** | **AMOUNT OF BENEFICIAL  OWNERSHIP (ORIGINAL  PRINCIPAL)** | ** **  | **% CLASS** | ** ** |
|----------------------|------------|-------------------------------------------------------------------------------------------------------------------------------|------------|-----------------------------------------------------------|-------------|-------------|------------|
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
| Class A-3            |       | Citibank, N.A.

3800 Citibank Center   

Tampa, FL 33610                                                                 |       | $                                                         | 23,060,000  |        | 5          | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
|                 |       | JPMorgan Chase Bank   

14201 Dallas Parkway   

Dallas, TX 75254                                                   |       | $                                                         | 159,387,801 |        | 40         | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
|                 |       | Northern Trust Company  

801 S. Canal Street, 30th Floor  

Chicago, IL 60607                                      |       | $                                                         | 19,980,000  |        | 5          | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
|                 |       | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171 |       | $                                                         | 124,790,154 |        | 31         | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
| Class B*             |       | Northern Trust Company  

801 S. Canal Street, 30th Floor  

Chicago, IL 60607                                      |       | $                                                         | 4,920,000   |        | 6          | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
|                 |       | JPMorgan Chase Bank   

14201 Dallas Parkway   

Dallas, TX 75254                                                   |       | $                                                         | 37,080,000  |        | 47         | % |
|                 |       |                                                                                                                          |       |                                                      |        |        |       |
|                 |       | Lehman Brothers, Inc.  

70 Hudson Street   

Jersey City, NJ 07032                                                 |       | $                                                         | 20,327,000  |        | 25         | % |

 

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|     |   | JPMorgan Chase Bank   

14201 Dallas Parkway   

Dallas, TX 75254                                                   |   | $      | 10,000,000 |   | 12     | %       |
|----------|--------|-------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|---------|
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171 |   | $      | 6,000,000  |   | 7      | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
| Class C* |   | JPMorgan Chase Bank   

14201 Dallas Parkway   

Dallas, TX 75254                                                   |   | $      | 39,036,000 |   | 54     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | Citibank, N.A.   

3800 Citibank Center   

Tampa, FL 33610                                                         |   | $      | 7,200,000  |   | 10     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171 |   | $      | 17,125,000 |   | 23     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | Northern Trust Company  

801 S. Canal Street, 30th Floor  

Chicago, IL 60607                                      |   | $      | 28,000,000 |   | 38     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | Mellon Trust  

525 William Penn Place, Suite 3418  

Pittsburgh, PA 15259                                          |   | $      | 5,000,000  |   | 6      | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
| Class D* |   | JPMorgan Chase Bank   

14201 Dallas Parkway   

Dallas, Texas 75254                                                |   | $      | 11,925,000 |   | 16     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | UBS Securities   

299 Park Avenue   

New York, New York 10171                                                     |   | $      | 43,675,000 |   | 60     | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171 |   | $      | 4,825,000  |   | 7      | %       |
|     |   |                                                                                                                          |   |   |       |   |   |
|     |   | Bank of New York   

One Wall Street   

New York, NY 10286                                                         |   | $      | 3,640,000  |   | 5      |  % |

 

----

 
| Class E* |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $      | 13,457,000 |   | 68     | % |
|----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|---|
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
|     |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171                                                                  |   | $      | 6,000,000  |   | 30     | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
| Class F  |   | UBS Securities   

299 Park Avenue   

New York, New York 10171                                                                                                                      |   | $      | 13,750,000 |   | 7      | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
|     |   | Bear Stearns  

One Metrotech Center North, 4th Fl.  

Brooklyn, NY 11201-3862                                                                                                       |   | $      | 13,050,000 |   | 18     | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
|     |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $      | 26,000,000 |   | 36     | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
|     |   | Wells Fargo Bank   

733 Marquette Ave.   

Minneapolis, MN 55479                                                                                                                    |   | $      | 10,800,000 |   | 15     | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
|     |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171                                                                  |   | $      | 8,200,000  |   | 11     | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
| Class G  |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $      | 13,054,813 |   | 100    | % |
|     |   |                                                                                                                                                                                           |   |   |       |   |   |
| Class H  |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $      | 26,106,964 |   | 100    | % |

 

----

 
| Class IO* |   | Bank of New York   

One Wall Street

New York, NY 10286                                                                                                                                  |   | $      | 120,000,000 |   | 9      | % |
|-----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------|--------|--------|---|
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | Bear Stearns  

One Metrotech Center North, 4th Fl.  

Brooklyn, NY 11201-3862                                                                                                       |   | $      | 104,000,000 |   | 7      | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | Citibank, N.A.   

3800 Citibank Center B3-15  

Tampa, Florida   33610                                                                                                         |   | $      | 266,000,000 |   | 20     | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | JP Morgan Chase Bank   

14201 Dallas Parkway   

Dallas, TX   75254                                                                                                            |   | $      | 165,000,000 |   | 12     | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | Salmon Smith Barney Inc./Salmon 

Brothers  

333 w. 34th Street  

3rd Floor  

New York, NY   10001                                                                      |   | $      | 330,755,224 |   | 25     | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | State Street Bank and Trust 

Company  

1776 Heritage Drive, Global 

Corporate Action Unit  

N. Quincy, MA 02171                                                                  |   | $      | 76,401,000  |   | 5      | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
|      |   | Wachovia Securities, Inc.  

8739 Research Drive   

Charlotte, NC 28262                                                                                                             |   | $      | 203,030,000 |   | 15     | % |
|      |   |                                                                                                                                                                                           |   |   |        |   |   |
| Class J   |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $      | 13,054,483  |   | 100    | % |

 

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| Class K |   | LaSalle National Bank, as Trustee  

Criimi Mae Series 1998-C1  

Att: Asset Backed Sec. Trust 

Services  

135 S. LaSalle Street, Suite 1625  

Chicago, Illinois, 60674 |   | $ | 26,208,964 |   | 100 | % |
|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---|------------|--------|-----|---|

 

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*As of December 31, 2004,the security ownership of the referenced class of certificates was registeredon the books and records of the Trustee to “Cede & Co.”, the DepositoryTrust Company’s nominee.  The beneficialownership of such class disclosed herein is based on a security positionslisting of The Depository Trust Company as of December 31, 2004.

 

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