**Exhibit 99.1**

** **

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

**COMMERCIAL MORTGAGE PASS-THROUGHCERTIFICATES, SERIES 1997-C1**

 

ITEM 12.           Security Ownershipof Certain Beneficial Owners

 

As of December 29, 2001, the following persons were known to theRegistrant to be the registered beneficial owners of more than 5% of theaggregate fractional undivided interest evidenced by each Class of theCertificates referenced below:

 
| **TITLE  OF CLASS** |   | **NAME AND ADDRESS  OF BENEFICIAL HOLDERS**                                                                         |   | **AMOUNT OF BENEFICIAL  OWNERSHIP (ORIGINAL PRINCIPAL)** |       | **% CLASS** |   |
|---------------------|--------|---------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------|------------|-------------|--------|
| Class A1*           |   | American Express Trust Company  929 AXP Financial Center  Minneapolis, Minnesota  55474                        |   | $                                                        | 31,010,000 |        | 15.5   | % |
|                |   |                                                                                                                |   |                                                     |       |        |   |   |
|                |   | Bank of New York  925 Patterson Plank Road  Secaucus, New Jersey  07094                                        |   | $                                                        | 12,535,000 |        | 6.3    | % |
|                |   |                                                                                                                |   |                                                     |       |        |   |   |
|                |   | Bankers Trust Company  648 Grassmere Park Road  Nashville, Tennessee  37211                                    |   | $                                                        | 16,835,000 |        | 8.4    | % |
|                |   |                                                                                                                |   |                                                     |       |        |   |   |
|                |   | Barclays Global Investors N.A./   Investors Bank & Trust  980 9th Street, 6th Floor  Sacramento, CA  95814 |   | $                                                        | 58,400,000 |        | 29.2   | % |
|                |   |                                                                                                                |   |                                                     |       |        |   |   |
|                |   | Boston Safe Deposit and  Trust Company  525 William Penn Place  Suite 3631  Pittsburgh, PA  15259              |   | $                                                        | 18,685,000 |        | 9.3    | % |
|                |   |                                                                                                                |   |                                                     |       |        |   |   |
|                |   | JP Morgan Chase  c/o JP Morgan Investors Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, TX 75254 |   | $                                                        | 10,180,000 |        | 5.1    | % |

 

 

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|      |   |                                                                                                                                    |   |   |       |   |        |   |
|-----------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|-------------|--------|
|      |   | Prudential Securities Custody  c/o ADP Proxy Services  Edgewood, NY  11717                                                         |   | $      | 10,000,000 |   | 5           | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | SSB Trust – Custody  225 Franklin Street  Boston, MA  02110                                                                   |   | $      | 17,800,000 |   | 8.9         | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
| Class A2* |   | Bank of New York  925 Patterson Plank Road  Secaucus, NJ  07094                                                                    |   | $      | 41,815,000 |   | 13.1        | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | Bankers Trust Company  648 Grassmere Park Road  Nashville, Tennessee  37211                                                        |   | $      | 50,105,000 |   | 16          | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | Boston Safe Deposit and Trust Company  525 William Penn Place  Suite 3631  Pittsburgh, Pennsylvania  15259                         |   | $      | 54,685,000 |   | 17.2        | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, Texas  75254        |   | $      | 93,025,000 |   | 29.3        | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | State Street Bank and Trust Company  1776 Heritage Drive  Global Corporate Action Unit JAB 5NW  North Quincy, Massachusetts  02171 |   | $      | 19,515,000 |   | 6.1         | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
|      |   | Wells Fargo Bank Minnesota, N.A.  733 Marquette Avenue  N9306-051  Minneapolis, Minnesota  55479                                   |   | $      | 17,600,000 |   | 5.5

  | %      |
|      |   |                                                                                                                                    |   |   |       |   |        |   |
| Class A3* |   | Bank of New York  925 Patterson Plank Road  Secaucus, New Jersey  07094                                                            |   | $      | 75,752,000 |   | 19.1        | %      |

 

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|     |   |                                                                                                                                    |   |   |       |   |   |   |
|----------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|     |   | Bankers Trust Company  648 Grassmere Park Road  Nashville, TN  37211                                                               |   | $      | 48,170,000 |   | 12.2   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | Boston Safe Deposit and Trust Company  55 William Penn Place  Suite 3631  Pittsburgh, PA  15259                                    |   | $      | 32,555,000 |   | 8.2    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, Texas  75254        |   | $      | 82,710,000 |   | 20.9   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | Northern Trust Company  801 S. Canal C-IN  Chicago, IL  60607                                                                      |   | $      | 23,175,000 |   | 5.9    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | State Street Bank and Trust Company  Global Corporate Action Unit JAB 5NW  1776 Heritage Drive  North Quincy, Massachusetts  02171 |   | $      | 78,070,000 |   | 19.7   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
| Class B* |   | Bankers Trust Company  648 Grassmere Plank Road  Nashville, TN  37211                                                              |   | $      | 4,920,000  |   | 6.3    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, Texas 75254              |   | $      | 48,860,000 |   | 62.4   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | State Street Bank and Trust Company  Global Corporate Action Unit JAB 5NW  1776 Heritage Drive  North Quincy, Massachusetts  02171 |   | $      | 22,907,000 |   | 29.3   | %      |

 

3

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|     |   |                                                                                                                                    |   |   |       |   |   |   |
|----------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Class C* |   | Bank of New York  525 Patterson Plank Road  Secaucus, NJ  07094                                                                    |   | $      | 6,000,000  |   | 8.4    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, Texas 75254              |   | $      | 45,512,000 |   | 63.4   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | Merrill Lynch, Pierce, Fenner & Smith, Inc.  101 Hudson Street 9th Floor  Jersey City, NJ  07302                               |   | $      | 5,000,000  |   | 7.0    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | State Street Bank and Trust Company  Global Corporate Action Unit JAB 5NW  1776 Heritage Drive  North Quincy, Massachusetts  02171 |   | $      | 4,600,000  |   | 6.4    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | Wells Fargo Bank Minnesota, N.A.  733 Marquette Avenue  N9306-051  Minneapolis, MN  55479                                          |   | $      | 5,000,000  |   | 7.0    | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
| Class D* |   | Bank of New York  925 Patterson Plank Road  Secaucus, NJ  07094                                                                    |   | $      | 19,790,000 |   | 27.6   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | Citibank, N.A.  3800 Citibank Center B3-15  Tampa, FL  33610                                                                       |   | $      | 20,450,000 |   | 28.5   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Parkway  12th Floor Mail Code 121  Dallas, Texas 75254              |   | $      | 11,925,000 |   | 16.6   | %      |
|     |   |                                                                                                                                    |   |   |       |   |   |   |
|     |   | JP Morgan Chase Bank/CCSG  P.O. Box 2558  Houston, TX  77252                                                                       |   | $      | 5,000,000  |   | 7.0    | %      |

 

4

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|     |   |                                                                                                                                                             |   |   |          |   |   |   |
|----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------|--------|--------|--------|
|     |   | State Street Bank and Trust Company  Global Corporate Action Unit JAB 5NW  1776 Heritage Drive  North Quincy, Massachusetts  02171                          |   | $      | 5,460,000     |   | 7.6    | %      |
|     |   |                                                                                                                                                             |   |   |          |   |   |   |
| Class E* |   | Bank of New York  925 Patterson Plank Road  Secaucus, NJ  07094                                                                                             |   | $      | 14,725,000    |   | 75.2   | %      |
|     |   |                                                                                                                                                             |   |   |          |   |   |   |
|     |   | Merrill Lynch, Pierce, Fenner &  Smith, Inc. – Debt. Sec.  101 Hudson Street, 9th Floor  Jersey City, NJ  07302                                    |   | $      | 2,157,000     |   | 11     | %      |
|     |   |                                                                                                                                                             |   |   |          |   |   |   |
|     |   | State Street Bank and Trust Company  Global Corporate Action Unit JAB 5NW  1776 Heritage Drive  North Quincy, Massachusetts  02171                          |   | $      | 1,725,000     |   | 8.8    | %      |
|     |   |                                                                                                                                                             |   |   |          |   |   |   |
| Class F  |   | Cede & Co  55 Water Street  New York, New York 10041                                                                                                         |   | $      | 71,800,000.00 |   | 100    | %      |
|     |   |                                                                                                                                                             |   |   |          |   |   |   |
| 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 |   | $      | 13,054,813.00 |   | 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 |   | $      | 26,108,964.00 |   | 100    | %      |

 

5

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|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|-----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------|--------|--------|--------|
| Class IO* |   | The Bank of New York  928 Patterson Plank Road  Secaucus, New Jersey  07094                                                                                 |   | $      | 120,000,000   |   | 9.2    | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|      |   | Bear Sterns Securities Corp.  One Metrotech Center North  4th Floor  Brooklyn, NY  11201-3862                                                               |   | $      | 259,382,000   |   | 19.9   | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|      |   | Citibank, N.A.  3800 Citibank Center B3-15  Tampa, Florida  33610                                                                                           |   | $      | 266,000,000   |   | 20.4   | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|      |   | JP Morgan Chase Bank  c/o JP Morgan Investor Services  14201 Dallas Pkwy 12th Floor Mail Code 121  Dallas, TX  75254                                        |   | $      | 165,000,000   |   | 12.6   | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|      |   | LBI-Lehman Government Securities   Inc. (LBI)  101 Hudson Street  30th Floor  Jersey City, NJ  07302                                                        |   | $      | 150,925,593   |   | 11.6   | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
|      |   | Salmon Smith Barney Inc./Salmon Brothers  333 w. 34th Street  3rd Floor  New York, NY  10001                                                                |   | $      | 267,477,631   |   | 20.1   | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
| 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 |   | $      | 13,054,483.00 |   | 100    | %      |
|      |   |                                                                                                                                                             |   |   |          |   |   |   |
| 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 |   | $      | 26,208,964.00 |   | 100    | %      |

 

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*As of December 31, 2001, thesecurity ownership of the referenced class of certificates was registered onthe books and records of the Trustee to “Cede & Co.”, the Depository TrustCompany’s nominee.  The beneficialownership of such class disclosed herein is based on a security positionslisting of The Depository Trust Company as of December 31, 2001.

 

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