Banc of America Merrill Lynch Commercial Mortgage
Filed: 10 Aug 06, 12:00am
FILED PURSUANT TO RULE 433 REGISTRATION STATEMENT NO.: 333-130755 STRUCTURAL AND COLLATERAL INFORMATION $2,528,295,000 (APPROXIMATE OFFERED CERTIFICATES) $2,813,124,818 (APPROXIMATE TOTAL COLLATERAL BALANCE) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 OFFERED CLASSES A-1, A-2, A-3, A-AB, A-4, A-1A, A-M, A-J, XP, B, C AND D CERTIFICATES BANK OF AMERICA COMMERCIAL MORTGAGE TRUST 2006-4 ISSUING ENTITY BANK OF AMERICA, NATIONAL ASSOCIATION SPONSOR AND MORTGAGE LOAN SELLER GERMAN AMERICAN CAPITAL CORPORATION SPONSOR AND MORTGAGE LOAN SELLER GENERAL ELECTRIC CAPITAL CORPORATION SPONSOR AND MORTGAGE LOAN SELLER BANK OF AMERICA, NATIONAL ASSOCIATION MASTER SERVICER LNR PARTNERS, INC. SPECIAL SERVICER AUGUST 2006 THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS THE ISSUER HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT THE ISSUER AND THIS OFFERING. YOU MAY GET THESE DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV. ALTERNATIVELY, THE ISSUER, ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY CALLING TOLL-FREE 1-800-294-1322 OR YOU E-MAIL A REQUEST TO DG.PROSPECTUS_DISTRIBUTION@BOFASECURITIES.COM. THE SECURITIES MAY NOT BE SUITABLE FOR ALL INVESTORS. BANC OF AMERICA SECURITIES LLC AND THE OTHER UNDERWRITERS AND THEIR AFFILIATES MAY ACQUIRE, HOLD OR SELL POSITIONS IN THESE SECURITIES, OR IN RELATED DERIVATIVES, AND MAY HAVE AN INVESTMENT OR COMMERCIAL BANKING RELATIONSHIP WITH THE ISSUER. SEE "IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES" IN THIS FREE WRITING PROSPECTUS. BANC OF AMERICA SECURITIES LLC DEUTSCHE BANK SECURITIES ---------- CREDIT SUISSE JPMORGAN BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES - -------------------------------------------------------------------------------- THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS, AND THE ASSET POOLS 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. BECAUSE THE ASSET-BACKED SECURITIES ARE BEING OFFERED ON A "WHEN, AS AND IF ISSUED" BASIS, ANY SUCH CONTRACT WILL TERMINATE, BY ITS TERMS, WITHOUT ANY FURTHER OBLIGATION OR LIABILITY BETWEEN US, IF THE SECURITIES THEMSELVES, OR THE PARTICULAR CLASS TO WHICH THE CONTRACT RELATES, ARE NOT ISSUED. BECAUSE THE ASSET-BACKED SECURITIES ARE SUBJECT TO MODIFICATION OR REVISION, ANY SUCH CONTRACT ALSO IS CONDITIONED UPON THE UNDERSTANDING THAT NO MATERIAL CHANGE WILL OCCUR WITH RESPECT TO THE RELEVANT CLASS OF SECURITIES PRIOR TO THE CLOSING DATE. IF A MATERIAL CHANGE DOES OCCUR WITH RESPECT TO SUCH CLASS, OUR CONTRACT WILL TERMINATE, BY ITS TERMS, WITHOUT ANY FURTHER OBLIGATION OR LIABILITY BETWEEN US (THE "AUTOMATIC TERMINATION"). IF AN AUTOMATIC TERMINATION OCCURS, WE WILL PROVIDE YOU WITH REVISED OFFERING MATERIALS REFLECTING THE MATERIAL CHANGE AND GIVE YOU AN OPPORTUNITY TO PURCHASE SUCH CLASS. TO INDICATE YOUR INTEREST IN PURCHASING THE CLASS, YOU MUST COMMUNICATE TO US YOUR DESIRE TO DO SO WITHIN SUCH TIMEFRAME AS MAY BE DESIGNATED IN CONNECTION WITH YOUR RECEIPT OF THE REVISED OFFERING MATERIALS. ---------- The information contained in these materials may be based on assumptions regarding market conditions and other matters as reflected herein. Banc of America Securities LLC, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. (each an "Underwriter" and, collectively, the "Underwriters") make no representation regarding the reasonableness of such assumptions or the likelihood that any such assumptions will coincide with actual market conditions or events, and these materials should not be relied upon for such purposes. The Underwriters and their respective affiliates, officers, directors, partners and employees, including persons involved in the preparation or issuance of these materials, 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 in these materials is current as of the date appearing on the material only. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and subject to change. Information in these materials regarding any securities discussed herein supersedes all prior information regarding such securities. These materials are 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 issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send to you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their respective affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. ---------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- ---------- IRS CIRCULAR 230 NOTICE THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND PROVIDED BY THE UNDERWRITERS IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR. ---------- The file number of the registration statement to which this free writing prospectus relates is 333-130755. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. TABLE OF CONTENTS Transaction Structure Structure Overview .................................................... 4 Transaction Terms ..................................................... 5 Contact Information ................................................... 8 Mortgage Pool Characteristics as of the Cut-off Date General Characteristics ............................................... 9 Property Type ......................................................... 10 Amortization Type ..................................................... 10 Property Location ..................................................... 11 Mortgage Pool Characteristics ......................................... 12 Prepayment Provisions Based on Outstanding Principal Balance .......... 15 Five Year Loans ....................................................... 16 Seven Year Loans ...................................................... 16 Ten Largest Mortgage Loans Technology Corners at Moffett Park .................................... 18 BlueLinx Holdings Portfolio ........................................... 25 Marriott Indianapolis ................................................. 33 Mesa Mall ............................................................. 38 DDR Macquarie Portfolio ............................................... 45 Ritz-Carlton Key Biscayne ............................................. 53 Glendale Fashion Center ............................................... 59 2000 Corporate Ridge Road ............................................. 66 Extra Space Portfolio ................................................. 73 55 Park Place ......................................................... 80 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- STRUCTURE OVERVIEW - -------------------------------------------------------------------------------- OFFERED CERTIFICATES APPROX. EXPECTED CERTIFICATE % OF ASSUMED RATINGS BALANCE OR INITIAL APPROX. WEIGHTED PRINCIPAL FINAL -------------- NOTIONAL POOL CREDIT AVERAGE WINDOW DISTRIBUTION RATE CLASS MOODY'S/S&P(1) AMOUNT(2) BALANCE SUPPORT LIFE (YRS)(3) (MOS)(3) DATE(3) TYPE - ------- -------------- ------------ ------- ------- ------------- --------- ------------------ ------------- A-1(4) Aaa / AAA $ 45,000,000 1.600% 30.000% 3.15 1 - 57 May 10, 2011 Fixed(5) A-2(4) Aaa / AAA $162,000,000 5.759% 30.000% 4.87 57 - 61 September 10, 2011 Fixed(5) A-3(4) Aaa / AAA $157,000,000 5.581% 30.000% 6.87 82 - 84 August 10, 2013 Fixed(5) A-AB(4) Aaa/AAA $ 80,787,000 2.872% 30.000% 7.04 61 - 107 July 10, 2015 Fixed(5) A-4(4) Aaa / AAA $945,600,000 33.614% 30.000% 9.75 107 - 119 July 10, 2016 Fixed(5) A-1A(4) Aaa / AAA $578,800,000 20.575% 30.000% 8.37 1 - 119 July 10, 2016 Fixed(5) A-M Aaa / AAA $281,312,000 10.000% 20.000% 9.93 119 - 120 August 10, 2016 Fixed(5) A-J Aaa / AAA $196,919,000 7.000% 13.000% 9.95 120 - 120 August 10, 2016 Fixed(5) XP Aaa / AAA TBD(6) N/A N/A (6) N/A N/A Variable Rate(6) B Aa1 / AA+ $ 21,099,000 0.750% 12.250% 9.95 120 - 120 August 10, 2016 Fixed(5) C Aa2 / AA $ 35,164,000 1.250% 11.000% 9.95 120 - 120 August 10, 2016 Fixed(5) D Aa3 / AA- $ 24,614,000 0.875% 10.125% 9.95 120 - 120 August 10, 2016 Fixed(5) NON-OFFERED CERTIFICATES(7) APPROX. EXPECTED CERTIFICATE % OF ASSUMED RATINGS BALANCE OR INITIAL APPROX. WEIGHTED PRINCIPAL FINAL -------------- NOTIONAL POOL CREDIT AVERAGE WINDOW DISTRIBUTION RATE CLASS MOODY'S/S&P(1) AMOUNT(2) BALANCE SUPPORT LIFE (YRS)(3) (MOS)(3) DATE(3) TYPE - ------- -------------- -------------- ------- ------- ------------- --------- ------------------ ------------- E A1 / A+ $ 17,582,000 0.625% 9.500% 9.95 120 - 120 August 10, 2016 Fixed(5) F A2 / A $ 28,132,000 1.000% 8.500% 9.95 120 - 120 August 10, 2016 Fixed(5) G A3 / A- $ 35,164,000 1.250% 7.250% 9.95 120 - 120 August 10, 2016 Fixed(5) H Baa1 / BBB+ $ 35,164,000 1.250% 6.000% 9.95 120 - 120 August 10, 2016 Fixed(5) J Baa2 / BBB $ 35,164,000 1.250% 4.750% 9.95 120 - 121 September 10, 2016 Fixed(5) K Baa3 / BBB- $ 35,164,000 1.250% 3.500% 10.03 121 - 121 September 10, 2016 Fixed(5) L Ba1 / BB+ $ 10,549,000 0.375% 3.125% 10.03 121 - 121 September 10, 2016 Fixed(5) M Ba2 / BB $ 10,549,000 0.375% 2.750% 10.03 121 - 121 September 10, 2016 Fixed(5) N Ba3 / BB- $ 10,550,000 0.375% 2.375% 10.03 121 - 121 September 10, 2016 Fixed(5) O NR / B+ $ 7,032,000 0.250% 2.125% 10.03 121 - 121 September 10, 2016 Fixed(5) P NR / B $ 10,550,000 0.375% 1.750% 10.03 121 - 121 September 10, 2016 Fixed(5) Q NR / B- $ 10,549,000 0.375% 1.375% 10.03 121 - 121 September 10, 2016 Fixed(5) S NR / NR $ 38,680,818 1.375% 0.000% 12.03 121 - 241 September 10, 2026 Fixed(5) XC Aaa / AAA $2,813,124,818(8) N/A N/A (8) N/A N/A Variable Rate(8) (1) Ratings shown are those of Moody's Investors Service, Inc. and Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc., respectively. (2) As of the delivery date. Subject to a variance of plus or minus 5.0%. (3) Based on the maturity assumptions (as defined under "YIELD AND MATURITY CONSIDERATIONS" in the prospectus supplement). As of the delivery date, calculations for the certificates assumed no prepayments will be made on the mortgage loans prior to their related maturity dates (or, in the case of the Mortgage Loans with anticipated repayment dates, the related anticipated repayment date). (4) For purposes of making distributions to the Class A-1, A-2, A-3, A-AB, A-4 and A-1A Certificates, the pool of Mortgage Loans will be deemed to consist of two distinct loan groups, Loan Group 1 and Loan Group 2. Loan Group 1 will consist of 130 Mortgage Loans, representing approximately 79.4% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will consist of 35 Mortgage Loans, representing approximately 20.6% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will include approximately 92.9% of the aggregate principal balance of all the Mortgage Loans secured by multifamily properties and 26.6% of the aggregate principal balance of all Mortgage Loans secured by manufactured housing properties. So long as funds are sufficient on any distribution date to make distributions of all interest on such distribution date to the Class A-1, A-2, A-3, A-AB, A-4, A-1A, XC and XP Certificates, interest distributions on Class A-1, A-2, A-3, A-AB and A-4 Certificates will be based on amounts available relating to Mortgage Loans in Loan Group 1, interest distributions on the Class A-1A Certificates will be based on amounts available relating to Mortgage Loans in Loan Group 2 and interest distributions on the Class XC and XP Certificates will be based on amounts available relating to all the Mortgage Loans. In addition, generally, the Class A-1, A-2, A-3, A-AB and A-4 Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 2 until the Certificate Balance of the Class A-1, A-2, A-3, A-AB and A-4 Certificates have been reduced to zero. However, on and after any distribution date on which the Certificate Balances of the Class A-M through Class S Certificates have been reduced to zero, distributions of principal collected or advanced in respect of the pool of Mortgage Loans will be distributed to the Class A-1, A-2, A-3, A-AB, A-4 and A-1A Certificates pro rata without regard to loan group. (5) The Class A-1, A-2, A-3, A-AB, A-4, A-1A, A-M, A-J, B, C, D, E, F, G, H, J, K, L, M, N, O, P, Q and S Certificates will each accrue interest at either (i) a fixed rate, (ii) a fixed rate subject to a cap at the weighted average net mortgage rate, (iii) the weighted average net mortgage rate or (iv) the weighted average net mortgage rate less a specified percentage. (6) The Class XP Certificates will not have certificate balances and their holders will not receive distributions of principal, but such holders are entitled to receive payments of the aggregate interest accrued on the notional amount of the Class XP Certificates, as described in the prospectus supplement. The interest rate applicable to the Class XP Certificates for each distribution date will be as described in the prospectus supplement. See "DESCRIPTION OF THE CERTIFICATES--Pass-Through Rates" in the prospectus supplement. (7) Not offered by the prospectus supplement. Any information we provide herein regarding the terms of these certificates is provided only to enhance your understanding of the offered certificates. (8) The Class XC Certificates are not offered by the prospectus supplement. Any information we provide herein regarding the terms of these certificates is provided only to enhance your understanding of the offered certificates. The Class XC Certificates will not have certificate balances and their holders will not receive distributions of principal, but such holders are entitled to receive payments of the aggregate interest accrued on the notional amount of the Class XC Certificates, as described in the prospectus supplement. The interest rate applicable to the Class XC Certificates for each distribution date will be as described in the prospectus supplement. See "DESCRIPTION OF THE CERTIFICATES--Pass-Through Rates" in the prospectus supplement. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 4 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE MEANINGS ASCRIBED TO THEM IN THE PROSPECTUS SUPPLEMENT DATED AUGUST 2006. ISSUE TYPE REMIC. Class A-1, A-2, A-3, A-AB, A-4, A-1A, A-M, A-J, XP, B, C and D Certificates (collectively, the "Offered Certificates") are offered publicly. CUT-OFF DATE All Mortgage Loan characteristics are based on balances as of the Cut-off Date, which is August 1, 2006 (or, with respect to Loan Nos. DBM27151, DBM26333, DBM27187, 760050618, 760053361, 760054198, 760055159, 760054238, 3402171, 760048221, DBM27266, 760053978 and 760053757 the related origination date). All percentages presented herein are approximate. MORTGAGE POOL The Mortgage Pool consists of 165 Mortgage Loans (the "Mortgage Loans") with an aggregate balance as of the Cut-off Date of $2,813,124,818 (the "Initial Pool Balance"). For purposes of making distributions to the Class A-1, A-2, A-3, A-AB, A-4 and A-1A Certificates, the Mortgage Pool will be deemed to consist of two distinct loan groups, Loan Group 1 and Loan Group 2. Loan Group 1 will consist of 130 Mortgage Loans, representing approximately 79.4% of the Initial Pool Balance as of the Cut-off Date. Loan Group 2 will consist of 35 Mortgage Loans, representing approximately 20.6% of the Initial Pool Balance as of the Cut-off Date. The Mortgage Loans are secured by 259 properties (the "Mortgaged Properties") located throughout 43 states. DEPOSITOR Banc of America Commercial Mortgage Inc. ISSUING ENTITY Banc of America Commercial Mortgage Trust 2006-4. SPONSORS Bank of America, National Association ("Bank of America") German American Capital Corporation ("GACC") and General Electric Capital Corporation ("GECC"). MORTGAGE LOAN SELLERS Bank of America, GACC and GECC. UNDERWRITERS Banc of America Securities LLC and Deutsche Bank Securities Inc. are acting as co-lead managers and both are acting as joint bookrunners. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are acting as co-managers. TRUSTEE Wells Fargo Bank, N.A. MASTER SERVICER Bank of America, National Association, for all of the Mortgage Loans except with respect to the BlueLinx Holdings Portfolio Loan (identified as Loan No. GA25040 on Annex A to the prospectus supplement), which will be serviced by Wachovia Bank, National Association pursuant to the terms of the Pooling and Servicing Agreement relating to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C27. See "THE SERVICERS--The Master Servicer" in the prospectus supplement. SPECIAL SERVICER LNR Partners, Inc., for all of the Mortgage Loans except with respect to the BlueLinx Holdings Portfolio Loan (identified as Loan No. GA25040 on Annex A to the prospectus supplement), which will be serviced by LNR Partners, Inc. pursuant to the terms of the Pooling and Servicing Agreement relating to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C27. See "The SERVICERS--The Special Servicer" in the prospectus supplement. RATING AGENCIES Moody's Investors Service, Inc. ("Moody's") and Standard and Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. ("S&P"). DENOMINATIONS $10,000 minimum for the Class A-1, A-2, A-3, A-AB, A-4, A-1A, A-M and A-J Certificates, $1,000,000 minimum (notional) for the Class XP Certificates and $100,000 minimum for the Class B, C and D Certificates. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 5 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- SETTLEMENT DATE On or about August __, 2006. SETTLEMENT TERMS Book-entry through DTC for all Offered Certificates. DISTRIBUTION DATE The 10th day of each month, or if such 10th day is not a Business Day, the next succeeding Business Day. The first Distribution Date with respect to the Offered Certificates will occur in September 2006. DETERMINATION DATE For any Distribution Date, the earlier of (i) the sixth day of the month in which the related Distribution Date occurs, or if such sixth day is not a Business Day, then the immediately preceding Business Day, and (ii) the fourth Business Day prior to the related Distribution Date. INTEREST DISTRIBUTIONS Each Class of Offered Certificates will be entitled on each Distribution Date to interest accrued at its Pass-Through Rate for such Distribution Date on the outstanding Certificate Balance of such Class during the prior calendar month. Interest will be distributed on each Distribution Date in sequential order of class designations with the Class A-1, A-2, A-3, A-AB, A-4, A-1A, XC and XP Certificates ranking pari passu in entitlement to interest. PRINCIPAL DISTRIBUTIONS Principal will be distributed on each Distribution Date to the Class of Sequential Pay Certificates outstanding with the earliest sequential Class designation until its Certificate Balance is reduced to zero (except that the Class A-AB Certificates are entitled to certain priority on each Distribution Date with respect to being paid down to their planned principal balance as described in the prospectus supplement). Generally, the Class A-1, A-2, A-3, A-AB and A-4 Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 2 until the Certificate Balances of the Class A-1, A-2, A-3, A-AB and A-4 Certificates have been reduced to zero. If, due to losses, the Certificate Balances of the Class A-M through Class S Certificates are reduced to zero but any two or more classes of Class A-1, A-2, A-3, A-AB, A-4 or A-1A Certificates remain outstanding, payments of principal to the outstanding Class A-1, A-2, A-3, A-AB, A-4 and A-1A Certificates will be made on a pro rata basis without regard to loan groups. LOSSES To be applied first to the Class S Certificates, then to the next most subordinate Class of Sequential Pay Certificates until the Certificate Balance of each such succeeding Class of Sequential Pay Certificates is reduced to zero, and following the reduction of the Certificate Balance of the Class A-M Certificates to zero, pro rata to the Class A-1, A-2, A-3, A-AB, A-4 and A-1A Certificates. However, (A) with respect to the BlueLinx Holdings Portfolio Loan losses will be allocated pro rata to the related note A-1 and note A-2. Losses allocable to the pro rata portion of the BlueLinx Holdings Portfolio Loan note A-1 will be applied to the classes of Sequential Pay Certificates as described above and (B) with respect to the Ritz-Carlton Key Biscayne Loan, losses will be allocated pro rata to the related note A-1 and note A-2. Losses allocable to the pro rata portion of the Ritz-Carlton Key Biscayne Loan note A-1 will be applied to the classes of Sequential Pay Certificates as described above. PREPAYMENT PREMIUMS The manner in which any prepayment premiums received during a particular Collection Period will be allocated to one or more of the classes of Offered Certificates is described in the "DESCRIPTION OF THE CERTIFICATES--Distributions--Distributions of Prepayment Premiums" in the prospectus supplement. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 6 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- ADVANCES Subject to certain limitations, including, but not limited to, a recoverability determination, the Master Servicer will be required to advance certain principal and interest payments and other expenses. In the event that the Master Servicer fails to make such advances, the Trustee may be required to do so. OPTIONAL TERMINATION The Master Servicer, the Special Servicer and certain Certificateholders will have the option to terminate the Trust, 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 then outstanding is less than 1% of the Initial Pool Balance. Such purchase price will generally be at a price equal to the unpaid aggregate principal balance of the Mortgage Loans (or fair market value in the case of REO Properties), plus accrued and unpaid interest and certain other additional trust fund expenses. CONTROLLING CLASS The most subordinate Class of Sequential Pay Certificates with an outstanding Certificate Balance at least equal to 25% of its initial Certificate Balance or, if no such Class satisfies such criteria, the Class of Sequential Pay Certificates with the then largest outstanding Class Balance. ERISA The Offered Certificates are expected to be ERISA eligible. SMMEA The Offered Certificates are not expected to be "mortgage-related securities" for the purposes of SMMEA. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 7 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- CONTACT INFORMATION - -------------------------------------------------------------------------------- BANC OF AMERICA SECURITIES LLC DEUTSCHE BANK SECURITIES INC. Bill Hale Scott Waynebern (704) 388-1597 (Phone) (212) 250-5149 (Phone) (704) 388-9677 (Fax) (212) 797-5630 (Fax) bill.e.hale@bankofamerica.com scott.waynebern@db.com Geordie Walker Ben Doramus (704) 388-1597 (Phone) (212) 250-5149 (Phone) (704) 388-9677 (Fax) (212) 797-5630 (Fax) geordie.r.walker@bankofamerica.com ben.doramus@db.com Chris Springer Blake Catlett (704) 388-1597 (Phone) (212) 250-5149 (Phone) (704) 388-9677 (Fax) (212) 797-5630 (Fax) chris.springer@bankofamerica.com blake.catlett@db.com CREDIT SUISSE SECURITIES (USA) LLC J.P. MORGAN SECURITIES INC. Barry Polen Chuck Lee (212) 325-3295 (Phone) (212) 834-9328 (Phone) (212) 325-8104 (Fax) (212) 834-6593 (Fax) barry.polen@credit-suisse.com chuck.x.lee@jpmorgan.com Chris Anderson Andy Taylor (212) 325-3295 (Phone) (212) 834-3813 (Phone) (212) 743-4790 (Fax) (212) 834 6598 (Fax) chris.anderson@credit-suisse.com andrew.b.taylor@jpmorgan.com Andrew Winer Glenn Riis (212) 325-3295 (Phone) (212) 834-3813 (Phone) (212) 743-4521 (Fax) (212) 834-6598 (Fax) andrew.winer@credit-suisse.com glenn.riis@jpmorgan.com Reese Mason Edward Tai (212) 538-8661 (Phone) (212) 834-9308 (Phone) (212) 743-5227 (Fax) (212) 834-6593 (Fax) reese.mason@credit-suisse.com edward.c.tai@jpmorgan.com The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 8 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- GENERAL CHARACTERISTICS MORTGAGE POOL LOAN GROUP 1 LOAN GROUP 2 --------------- --------------- --------------- Number of Mortgage Loans .................................................... 165 130 35 Number of Mortgaged Properties .............................................. 259 220 39 Aggregate Balance of all Mortgage Loans(1) .................................. $2,813,124,818 $2,234,290,645 $578,834,173 Number of Balloon Payment Mortgage Loans(2)(3) .............................. 140 113 27 Aggregate Balance of Balloon Payment Mortgage Loans(2)(3) ................... $2,078,205,818 $1,670,895,645 $407,310,173 Number of Anticipated Repayment Date Mortgage Loans(3) ...................... 2 2 0 Aggregate Balance of Anticipated Repayment Date Mortgage Loans(3) ........... $ 13,265,887 $ 13,265,887 $ 0 Number of Interest Only Mortgage Loans ...................................... 22 15 7 Aggregate Balance of Interest Only Mortgage Loans ........................... $ 723,219,000 $ 553,895,000 $169,324,000 Number of Fully Amortizing Mortgage Loans ................................... 3 2 1 Aggregate Balance of Fully Amortizing Mortgage Loans ........................ $ 11,700,000 $ 9,500,000 $ 2,200,000 Maximum Balance ............................................................. $ 190,000,000 $ 190,000,000 $ 50,000,000 Minimum Balance ............................................................. $ 1,380,398 $ 1,380,398 $ 1,820,000 Average Balance ............................................................. $ 17,049,241 $ 17,186,851 $ 16,538,119 Number of Cross-Collateralized and Cross-Defaulted Loan Pools ............... 2 2 0 Maximum Balance for a Group of Cross-Collateralized and Cross-Defaulted ..... $ 6,476,000 $ 6,476,000 $ 0 Weighted Average Cut-off Date LTV Ratio ..................................... 70.0% 70.2% 69.1% Maximum Cut-off Date LTV Ratio .............................................. 80.0% 80.0% 80.0% Minimum Cut-off Date LTV Ratio .............................................. 9.2% 9.2% 27.5% Weighted Average DSCR ....................................................... 1.33x 1.35x 1.27x Maximum DSCR ................................................................ 9.63x 9.63x 3.08x Minimum DSCR ................................................................ 1.01x 1.01x 1.01x Weighted Average LTV at Maturity or Anticipated Repayment Date(4) ........... 65.7% 65.7% 65.8% Range of Mortgage Loan Interest Rates ....................................... 5.250% to 7.520% 5.250% to 7.520% 5.560% to 6.577% Weighted Average Mortgage Loan Interest Rate ................................ 6.134% 6.134% 6.132% Range of Remaining Term to Maturity or Anticipated Repayment Date (months)(5) 54 to 241 54 to 241 56 to 121 Weighted Average Remaining Term to Maturity or Anticipated Repayment Date(5) 111 112 103 - ---------- (1) Subject to a permitted variance of plus or minus 5%. (2) Excludes Mortgage Loans (including anticipated repayment date mortgage loans) that are Interest Only until maturity or until the anticipated repayment date. (3) Two Mortgage Loans, Loan Nos. 760020381 and 3401296 (such Loan Numbers are set forth in Annex A to the prospectus supplement), representing 0.2% and 0.2% of the Initial Pool Balance (0.3% and 0.3% of the Group 1 Balance), respectively, are both ARD Loans and Balloon Mortgage Loans which results in such Mortgage Loans appearing in each category. (4) Excludes Mortgage Loans that are Fully Amortizing. (5) In the case of mortgage loans that have an anticipated repayment date, the maturity is based on the related anticipated repayment date. * See the "GLOSSARY OF PRINCIPAL DEFINITIONS" in the prospectus supplement for definitions and information relating to the calculation of loan-to-value and debt service coverage ratios. The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on the net cash flow unless otherwise noted in this free writing prospectus. One Mortgage Loan, the BlueLinx Holdings Portfolio Loan, Loan No. GA25040 (such Loan Number is set forth in Annex A to the prospectus supplement), representing 5.2% of the Initial Pool Balance (6.6% of the Group 1 Balance), is part of a split loan structure evidenced by two pari passu promissory notes referred to as Note A-1 and Note A-2. The Cut-off Date Balance of the BlueLinx Holdings Portfolio Loan has been calculated based upon Note A-1 (which is the only note included in the trust fund). Each Cut-off Date Balance per unit, loan-to-value ratio and debt service coverage ratio calculated in this Structural and Collateral Information with respect to the BlueLinx Holdings Portfolio Loan, except as may be otherwise noted herein, was calculated based upon the two pari passu notes. For purposes of weighing such debt service coverage ratios and loan-to-value ratios, such weighting is based solely upon the outstanding principal balance of Note A-1 included in the trust fund. One Mortgage Loan, the Ritz-Carlton Key Biscayne Loan, Loan No. GA26822 (such Loan Number is set forth in Annex A to the prospectus supplement), representing 3.1% of the Initial Pool Balance (3.8% of the Group 1 Balance), is part of a split loan structure evidenced by two pari passu promissory notes referred to as Note A-1 and Note A-2. The Cut-off Date Balance of the Ritz-Carlton Key Biscayne Loan has been calculated based upon Note A-1 (which is the only note included in the trust fund). Each Cut-off Date Balance per unit, loan-to-value ratio and debt service coverage ratio calculated in this Structural and Collateral Information with respect to the Ritz-Carlton Key Biscayne Loan, except as may be otherwise noted herein, was calculated based upon the two pari passu notes. For purposes of weighing such debt service coverage ratios and loan-to-value ratios, such weighting is based solely upon the outstanding principal balance of Note A-1 included in the trust fund. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 9 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* [THE FOLLOWING TABLE WAS REPRESENTED BY A (PIE CHART) IN THE PRINTED MATERIAL.] Retail Hotel Industrial Self Storage Mixed Use Manufactured Housing Office Multifamily - ------ ----- ---------- ------------ --------- -------------------- ------ ----------- 19.7% 10.5% 6.7% 6.5% 2.7% 2.1% 30.3% 21.5% PROPERTY TYPE % OF WEIGHTED WEIGHTED WEIGHTED NUMBER OF AGGREGATE INITIAL AVERAGE MIN-MAX AVERAGE MIN-MAX AVERAGE MORTGAGED CUT-OFF DATE POOL UNDERWRITTEN UNDERWRITTEN CUT-OFF DATE CUT-OFF DATE MORTGAGE PROPERTY TYPE PROPERTIES BALANCE BALANCE DSCR DSCR LTV RATIO LTV RATIO RATE - -------------------- ---------- -------------- ------- ------------ ------------- ------------ ------------ -------- Office 42 $ 852,128,415 30.3% 1.34x 1.01x / 4.43x 70.0% 26.6% / 80.0% 6.177% Multifamily 36 605,825,763 21.5 1.34x 1.01x / 9.63x 68.3% 9.2% / 80.0% 6.124% Retail 47 553,425,893 19.7 1.34x 1.02x / 2.40x 69.7% 38.1% / 80.0% 5.995% Anchored 28 386,473,167 13.7 1.36x 1.02x / 2.40x 70.8% 38.5% / 80.0% 6.009% Unanchored 15 120,950,727 4.3 1.31x 1.07x / 1.97x 65.9% 38.1% / 78.6% 5.927% Shadow Anchored 4 46,002,000 1.6 1.18x 1.05x / 1.32x 70.4% 60.2% / 76.2% 6.058% Hotel 11 294,383,881 10.5 1.46x 1.29x / 1.84x 71.1% 50.8% / 78.6% 6.131% Industrial 67 188,024,347 6.7 1.25x 1.20x / 1.38x 76.6% 55.4% / 79.2% 6.278% Self Storage 33 182,962,598 6.5 1.22x 1.10x / 1.52x 68.7% 44.3% / 79.4% 6.187% Mixed Use 5 76,100,000 2.7 1.22x 1.17x / 1.41x 67.3% 59.3% / 74.1% 6.231% Manufactured Housing 18 60,273,921 2.1 1.31x 1.06x / 2.09x 69.9% 46.6% / 78.6% 6.165% --- -------------- ----- ---- ---- ---- ---- ---- ---- ----- TOTAL/WTD AVG: 259 $2,813,124,818 100.0% 1.33X 1.01X / 9.63X 70.0% 9.2% / 80.0% 6.134% === ============== ===== ==== ==== ==== ==== ==== ==== ===== AMORTIZATION TYPE % OF INITIAL % OF % OF NUMBER AGGREGATE CUT-OFF POOL GROUP 1 GROUP 2 AMORTIZATION TYPE OF MORTGAGE LOANS DATE BALANCE BALANCE BALANCE BALANCE - ----------------------------------- ----------------- ----------------- ------- ------- ------- Partial Interest Only Balloon Loans 100 $1,761,418,150 62.6% 62.2% 64.3% 12 month IO Loans 3 42,000,000 1.5 1.1 2.9 24 month IO Loans 30 417,005,763 14.8 15.8 11.1 25 month IO Loans 3 25,651,000 0.9 1.0 0.6 30 month IO Loans 1 10,250,000 0.4 0.0 1.8 36 month IO Loans 17 164,204,387 5.8 6.5 3.1 48 month IO Loans 8 109,143,000 3.9 4.9 0.0 60 month IO Loans 31 781,374,000 27.8 28.1 26.5 72 month IO Loans 2 56,590,000 2.0 0.0 9.8 73 month IO Loans 2 56,000,000 2.0 0.3 8.6 84 month IO Loans 3 99,200,000 3.5 4.4 0.0 Interest Only Loans 22 723,219,000 25.7 24.8 29.3 Balloon Loans 38 303,521,781 10.8 12.0 6.0 Fully Amortizing Loans 3 11,700,000 0.4 0.4 0.4 ARD Loan 1 6,885,887 0.2 0.3 0.0 Partial Interest Only ARD Loan 1 6,380,000 0.2 0.3 0.0 --- -------------- ----- ----- ----- TOTAL: 165 $2,813,124,818 100.0% 100.0% 100.0% === ============== ===== ===== ===== * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 10 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- WASHINGTON KENTUCKY NORTH DAKOTA 9 properties 3 properties 1 property $57,286,250 $30,480,887 $1,140,000 2.0% of total 1.1% of total 0.0% of total OREGON VIRGINIA SOUTH DAKOTA 6 properties 8 properties 1 property $25,850,000 $134,983,233 $860,000 0.9% of total 4.8% of total 0.0% of total NEVADA MARYLAND NEBRASKA 2 properties 6 properties 1 property $7,380,398 $121,688,077 $5,375,000 0.3% of total 4.3% of total 0.2% of total CALIFORNIA DELAWARE 47 properties 1 property $674,927,015 $4,000,000 24.0% of total 0.1% of total UTAH NEW JERSEY 1 property 5 properties $3,445,718 $19,222,691 0.1% of total 0.7% of total ARIZONA Connecticut 3 properties 4 properties $31,522,000 $75,570,000 1.1% of total 2.7% of total COLORADO MASSACHUSETTS 6 properties 2 properties $128,937,177 $15,868,106 4.6% of total 0.6% of total NEW MEXICO MAINE 4 properties 1 property $27,075,500 $1,212,000 1.0% of total 0.0% of total KANSAS NEW HAMPSHIRE 1 property 2 properties $8,540,076 $60,600,000 0.3% of total 2.2% of total OKLAHOMA VERMONT 1 property 1 property $1,552,000 $1,180,800 0.1% of total 0.0% of total TEXAS NEW YORK 33 properties 18 properties $269,632,499 $177,974,898 9.6% of total 6.3% of total ARKANSAS PENNSYLVANIA 2 properties 9 properties $3,988,000 $159,440,000 0.1% of total 5.7% of total LOUISIANA OHIO 3 properties 1 property $29,125,900 $1,030,000 1.0% of total 0.0% of total MISSISSIPPI MICHIGAN 1 property 8 properties $474,000 $61,926,876 0.0% of total 2.2% of total ALABAMA INDIANA 2 properties 6 properties $26,540,000 $108,175,711 0.9% of total 3.8% of total TENNESSEE ILLINOIS 6 properties 4 properties $70,649,842 $34,372,000 2.5% of total 1.2% of total FLORIDA WISCONSIN 22 properties 2 properties $225,536,972 $14,630,013 8.0% of total 0.5% of total GEORGIA MISSOURI 10 properties 5 properties $110,299,925 $17,277,398 3.9% of total 0.6% of total SOUTH CAROLINA MINNESOTA 3 properties 3 properties $33,340,000 $7,272,000 1.2% of total 0.3% of total NORTH CAROLINA IOWA 4 properties 1 property $21,979,506 $762,350 0.8% of total 0.0% of total ------------------------------------ < 1.0% of Initial Pool Balance 1.0% - 5.0% of Initial Pool Balance 5.1% - 10.0% of Initial Pool Balance > 10.0% of Initial Pool Balance ------------------------------------ GEOGRAPHIC DISTRIBUTION WEIGHTED WEIGHTED WEIGHTED NUMBER OF AGGREGATE AVERAGE AVERAGE AVERAGE MORTGAGED CUT-OFF DATE % OF INITIAL UNDERWRITTEN CUT-OFF DATE MORTGAGE PROPERTY LOCATION PROPERTIES BALANCE POOL BALANCE DSCR LTV RATIO RATE - ----------------- ---------- -------------- ------------ ------------ ------------ -------- California 47 $ 674,927,015 24.0% 1.31x 65.5% 6.138% Texas 33 269,632,499 9.6 1.27x 70.4% 6.206% Florida 22 225,536,972 8.0 1.30x 74.4% 6.246% New York 18 177,974,898 6.3 1.61x 68.2% 6.090% Pennsylvania 9 159,440,000 5.7 1.24x 76.1% 6.219% Virginia 8 134,983,233 4.8 1.30x 68.5% 6.000% Colorado 6 128,937,177 4.6 1.36x 73.8% 5.896% Maryland 6 121,688,077 4.3 1.28x 70.1% 6.301% Georgia 10 110,299,925 3.9 1.46x 73.9% 6.171% Indiana 6 108,175,711 3.8 1.50x 70.4% 6.007% Other 94 701,529,313 24.9 1.30x 70.7% 6.111% --- -------------- ----- ---- ---- ----- TOTAL/WTD AVG: 259 $2,813,124,818 100.0% 1.33X 70.0% 6.134% === ============== ===== ==== ==== ===== o THE MORTGAGED PROPERTIES ARE LOCATED THROUGHOUT 43 STATES. * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 11 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS CUT-OFF DATE BALANCE NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- $1,380,398 -- $1,999,999 2 $ 3,200,398 0.1% $2,000,000 -- $2,999,999 10 25,579,584 0.9 $3,000,000 -- $3,999,999 16 55,262,700 2.0 $4,000,000 -- $4,999,999 16 70,175,797 2.5 $5,000,000 -- $7,499,999 36 217,747,832 7.7 $7,500,000 -- $9,999,999 19 160,228,929 5.7 $10,000,000 -- $14,999,999 16 190,472,013 6.8 $15,000,000 -- $19,999,999 10 174,146,000 6.2 $20,000,000 -- $29,999,999 16 376,959,000 13.4 $30,000,000 -- $49,999,999 11 438,854,564 15.6 $50,000,000 -- $99,999,999 10 661,218,000 23.5 $100,000,000 -- $190,000,000 3 439,280,000 15.6 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: $1,380,398 Max: $190,000,000 Avg: $17,049,241 LOCATION NO. OF AGGREGATE MORTGAGED CUT-OFF DATE % OF PROPERTIES BALANCE POOL ---------- -------------- ----- California 47 $ 674,927,015 24.0% Texas 33 269,632,499 9.6 Florida 22 225,536,972 8.0 New York 18 177,974,898 6.3 Pennsylvania 9 159,440,000 5.7 Virginia 8 134,983,233 4.8 Colorado 6 128,937,177 4.6 Maryland 6 121,688,077 4.3 Georgia 10 110,299,925 3.9 Indiana 6 108,175,711 3.8 Other 94 701,529,313 24.9 --- -------------- ----- TOTAL: 259 $2,813,124,818 100.0% === ============== ===== PROPERTY TYPE NO. OF AGGREGATE MORTGAGED CUT-OFF DATE % OF PROPERTIES BALANCE POOL ---------- -------------- ----- Office 42 $ 852,128,415 30.3% Multifamily 36 605,825,763 21.5 Retail 47 553,425,893 19.7 Anchored 28 386,473,167 13.7 Unanchored 15 120,950,727 4.3 Shadow Anchored 4 46,002,000 1.6 Hotel 11 294,383,881 10.5 Industrial 67 188,024,347 6.7 Self Storage 33 182,962,598 6.5 Mixed Use 5 76,100,000 2.7 Manufactured Housing 18 60,273,921 2.1 --- -------------- ----- TOTAL: 259 $2,813,124,818 100.0% === ============== ===== MORTGAGE RATE NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- 5.250% -- 5.499% 3 $ 37,875,000 1.3% 5.500% -- 5.749% 9 158,763,537 5.6 5.750% -- 5.999% 27 505,077,637 18.0 6.000% -- 6.249% 76 1,248,511,599 44.4 6.250% -- 6.499% 42 769,843,161 27.4 6.500% -- 7.520% 8 93,053,885 3.3 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 5.250% Max: 7.520% Wtd. Avg: 6.134% ORIGINAL TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- 60 -- 83 19 $ 312,186,085 11.1% 84 -- 99 9 159,241,398 5.7 100 -- 120 125 2,187,706,335 77.8 121 -- 179 11 148,491,000 5.3 180 -- 241 1 5,500,000 0.2 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 60 Max: 241 Wtd. Avg: 112 REMAINING TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- 54 -- 59 9 $ 135,920,972 4.8% 60 -- 79 11 183,151,000 6.5 80 -- 99 9 159,241,398 5.7 100 -- 109 2 23,356,210 0.8 110 -- 119 78 1,458,524,237 51.8 120 -- 139 53 817,731,000 29.1 140 -- 159 2 29,700,000 1.1 160 -- 241 1 5,500,000 0.2 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 54 Max: 241 Wtd. Avg: 111 PREPAYMENT PROVISION SUMMARY NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- Lockout/Defeasance/Open 146 $2,363,834,751 84.0% Lockout/Yield Maintenance/Open 16 239,590,067 8.5 Yield Maintenance/Yield Maintenance or Defeasance/Open 1 147,500,000 5.2 Lockout/Defeasance/Yield Maintenance or Defeasance/Open 1 45,600,000 1.6 Yield Maintenance/Open 1 16,600,000 0.6 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== CUT-OFF DATE LOAN-TO-VALUE RATIO NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- 9.2% -- 29.9% 4 $ 21,825,000 0.8% 30.0% -- 49.9% 12 68,566,106 2.4 50.0% -- 54.9% 6 97,539,574 3.5 55.0% -- 59.9% 14 172,572,577 6.1 60.0% -- 64.9% 22 232,921,885 8.3 65.0% -- 69.9% 31 663,841,215 23.6 70.0% -- 74.9% 27 416,433,727 14.8 75.0% -- 79.9% 46 980,600,734 34.9 80.0% 3 158,824,000 5.6 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 9.2% Max: 80.0% Wtd. Avg: 70.0% LOAN-TO-VALUE RATIO AT MATURITY OR ARD NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- Fully Amortizing 3 $ 11,700,000 0.4% 9.2% -- 24.9% 3 16,450,000 0.6 25.0% -- 49.9% 23 190,827,932 6.8 50.0% -- 59.9% 38 533,033,212 18.9 60.0% -- 64.9% 25 412,459,429 14.7 65.0% -- 69.9% 37 590,349,347 21.0 70.0% -- 74.9% 24 558,480,898 19.9 75.0% -- 80.0% 12 499,824,000 17.8 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 9.2%(1) Max: 80.0%(1) Wtd. Avg: 65.7%(1) (1) Excludes Mortgage Loans that are Fully Amortizing. DEBT SERVICE COVERAGE RATIOS NO. OF AGGREGATE MORTGAGE CUT-OFF DATE % OF LOANS BALANCE POOL -------- -------------- ----- 1.00x -- 1.19x 26 $ 611,617,000 21.7% 1.20x -- 1.24x 49 712,159,839 25.3 1.25x -- 1.29x 24 395,844,416 14.1 1.30x -- 1.34x 18 334,422,445 11.9 1.35x -- 1.39x 9 134,659,215 4.8 1.40x -- 1.49x 14 225,355,223 8.0 1.50x -- 1.59x 8 242,437,106 8.6 1.60x -- 1.69x 4 58,215,000 2.1 1.70x -- 1.79x 3 18,659,574 0.7 1.80x -- 1.89x 1 2,730,000 0.1 1.90x -- 1.99x 2 26,500,000 0.9 2.00x -- 2.99x 4 34,200,000 1.2 3.00x -- 9.63x 3 16,325,000 0.6 --- -------------- ----- TOTAL: 165 $2,813,124,818 100.0% === ============== ===== Min: 1.01x Max: 9.63x Wtd. Avg: 1.33x * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 12 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- LOAN GROUP 1 CHARACTERISTICS CUT-OFF DATE BALANCE NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- $1,380,398 -- $1,999,999 1 $ 1,380,398 0.1% $2,000,000 -- $2,999,999 7 18,409,584 0.8 $3,000,000 -- $3,999,999 14 48,415,290 2.2 $4,000,000 -- $4,999,999 13 57,392,797 2.6 $5,000,000 -- $7,499,999 29 175,363,069 7.8 $7,500,000 -- $9,999,999 19 160,228,929 7.2 $10,000,000 -- $14,999,999 11 130,982,013 5.9 $15,000,000 -- $19,999,999 7 121,696,000 5.4 $20,000,000 -- $29,999,999 12 284,820,000 12.7 $30,000,000 -- $49,999,999 7 285,104,564 12.8 $50,000,000 -- $99,999,999 7 511,218,000 22.9 $100,000,000 -- $190,000,000 3 439,280,000 19.7 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: $1,380,398 Max: $190,000,000 Avg: $17,186,851 LOCATION NO. OF AGGREGATE % OF MORTGAGED CUT-OFF DATE LOAN PROPERTIES BALANCE GROUP 1 ---------- -------------- ------- California 44 $ 568,337,015 25.4% Florida 18 207,089,562 9.3 New York 18 177,974,898 8.0 Virginia 7 129,233,233 5.8 Colorado 6 128,937,177 5.8 Texas 24 114,933,736 5.1 Georgia 10 110,299,925 4.9 Pennsylvania 8 109,440,000 4.9 Indiana 3 106,155,711 4.8 Maryland 4 98,188,077 4.4 Other 78 483,701,313 21.6 --- -------------- ----- TOTAL: 220 $2,234,290,645 100.0% === ============== ===== PROPERTY TYPE NO. OF AGGREGATE % OF MORTGAGED CUT-OFF DATE LOAN PROPERTIES BALANCE GROUP 1 ---------- -------------- ------- Office 42 $ 852,128,415 38.1% Retail 47 553,425,893 24.8 Anchored 28 386,473,167 17.3 Unanchored 15 120,950,727 5.4 Shadow Anchored 4 46,002,000 2.1 Hotel 11 294,383,881 13.2 Industrial 67 188,024,347 8.4 Self Storage 33 182,962,598 8.2 Mixed Use 5 76,100,000 3.4 Manufactured Housing 12 44,265,511 2.0 Multifamily 3 43,000,000 1.9 --- -------------- ----- TOTAL: 220 $2,234,290,645 100.0% === ============== ===== MORTGAGE RATE NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- 5.250% -- 5.499% 3 $ 37,875,000 1.7% 5.500% -- 5.749% 6 96,443,774 4.3 5.750% -- 5.999% 20 406,272,637 18.2 6.000% -- 6.249% 60 1,032,985,599 46.2 6.250% -- 6.499% 34 606,259,751 27.1 6.500% -- 7.520% 7 54,453,885 2.4 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: 5.250% Max: 7.520% Wtd. Avg: 6.134% ORIGINAL TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- 60 -- 83 12 $ 160,162,085 7.2% 84 -- 99 8 155,230,398 6.9 100 -- 120 101 1,838,722,161 82.3 121 -- 179 8 74,676,000 3.3 180 -- 241 1 5,500,000 0.2 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: 60 Max: 241 Wtd. Avg: 114 REMAINING TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- 54 -- 59 7 $ 108,720,972 4.9% 60 -- 79 6 58,327,000 2.6 80 -- 99 8 155,230,398 6.9 100 -- 109 2 23,356,210 1.0 110 -- 119 65 1,264,785,064 56.6 120 -- 139 39 588,671,000 26.3 140 -- 159 2 29,700,000 1.3 160 -- 241 1 5,500,000 0.2 --- -------------- ------ TOTAL: 130 $2,234,290,645 100.00% === ============== ====== Min: 54 Max: 241 Wtd. Avg: 112 PREPAYMENT PROVISION SUMMARY NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- Lockout/Defeasance/Open 117 $1,881,375,578 84.2% Lockout/Yield Maintenance/Open 11 159,815,067 7.2 Yield Maintenance/Yield Maintenance or Defeasance/Open 1 147,500,000 6.6 Lockout/Defeasance/Yield Maintenance or Defeasance/Open 1 45,600,000 2.0 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== CUT-OFF DATE LOAN-TO-VALUE RATIO NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- 9.2% -- 29.9% 2 $ 10,575,000 0.5% 30.0% -- 49.9% 10 64,546,106 2.9 50.0% -- 54.9% 5 47,539,574 2.1 55.0% -- 59.9% 12 144,072,577 6.4 60.0% -- 64.9% 19 168,781,885 7.6 65.0% -- 69.9% 23 535,819,042 24.0 70.0% -- 74.9% 23 337,950,727 15.1 75.0% -- 79.9% 34 789,005,734 35.3 80.0% 2 136,000,000 6.1 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: 9.2% Max: 80.0% Wtd. Avg: 70.2% LOAN-TO-VALUE RATIO AT MATURITY OR ARD NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- Fully Amortizing 2 $ 9,500,000 0.4% 9.2% -- 24.9% 1 5,200,000 0.2 25.0% -- 49.9% 22 189,007,932 8.5 50.0% -- 59.9% 31 409,920,802 18.3 60.0% -- 64.9% 20 296,159,666 13.3 65.0% -- 69.9% 29 503,056,347 22.5 70.0% -- 74.9% 17 421,645,898 18.9 75.0% -- 80.0% 8 399,800,000 17.9 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: 9.2%(1) Max: 80.0%(1) Wtd. Avg: 65.7%(1) (1) Excludes Mortgage Loans that are Fully Amortizing. DEBT SERVICE COVERAGE RATIOS NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 1 -------- -------------- ------- 1.00x -- 1.19x 19 $ 432,993,000 19.4% 1.20x -- 1.24x 33 495,353,076 22.2 1.25x -- 1.29x 20 327,673,416 14.7 1.30x -- 1.34x 16 307,075,035 13.7 1.35x -- 1.39x 8 114,344,215 5.1 1.40x -- 1.49x 13 220,855,223 9.9 1.50x -- 1.59x 7 192,437,106 8.6 1.60x -- 1.69x 4 58,215,000 2.6 1.70x -- 1.79x 2 16,839,574 0.8 1.80x -- 1.89x 1 2,730,000 0.1 1.90x -- 1.99x 2 26,500,000 1.2 2.00x -- 2.99x 3 28,700,000 1.3 3.00x -- 9.63x 2 10,575,000 0.5 --- -------------- ----- TOTAL: 130 $2,234,290,645 100.0% === ============== ===== Min: 1.01x Max: 9.63x Wtd. Avg: 1.35x * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 13 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- LOAN GROUP 2 CHARACTERISTICS CUT-OFF DATE BALANCE NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- $1,820,000 -- $1,999,999 1 $ 1,820,000 0.3% $2,000,000 -- $2,999,999 3 7,170,000 1.2 $3,000,000 -- $3,999,999 2 6,847,410 1.2 $4,000,000 -- $4,999,999 3 12,783,000 2.2 $5,000,000 -- $7,499,999 7 42,384,763 7.3 $10,000,000 -- $14,999,999 5 59,490,000 10.3 $15,000,000 -- $19,999,999 3 52,450,000 9.1 $20,000,000 -- $29,999,999 4 92,139,000 15.9 $30,000,000 -- $49,999,999 4 153,750,000 26.6 $50,000,000 3 150,000,000 25.9 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: $1,820,000 Max: $50,000,000 Average $16,538,119 LOCATION NO. OF AGGREGATE % OF MORTGAGED CUT-OFF DATE LOAN PROPERTIES BALANCE GROUP 2 ---------- ------------ ------- Texas 9 $154,698,763 26.7% California 3 106,590,000 18.4 New Hampshire 2 60,600,000 10.5 Pennsylvania 1 50,000,000 8.6 Connecticut 1 39,550,000 6.8 Tennessee 1 31,600,000 5.5 Alabama 1 25,000,000 4.3 Maryland 2 23,500,000 4.1 Kentucky 1 20,315,000 3.5 Florida 4 18,447,410 3.2 Other 14 48,533,000 8.4 -- ------------ ----- TOTAL: 39 $578,834,173 100.0% == ============ ===== PROPERTY TYPE NO. OF AGGREGATE % OF MORTGAGED CUT-OFF DATE LOAN PROPERTIES BALANCE GROUP 2 ---------- ------------ ------- Multifamily 33 $562,825,763 97.2% Manufactured Housing 6 16,008,410 2.8 -- ------------ ----- TOTAL: 39 $578,834,173 100.0% == ============ ===== MORTGAGE RATE NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- 5.560% -- 5.749% 3 $ 62,319,763 10.8% 5.750% -- 5.999% 7 98,805,000 17.1 6.000% -- 6.249% 16 215,526,000 37.2 6.250% -- 6.499% 8 163,583,410 28.3 6.500% -- 6.577% 1 38,600,000 6.7 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 5.560% Max: 6.577% Wtd Avg: 6.132% ORIGINAL TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- 60 -- 83 7 $152,024,000 26.3% 84 -- 99 1 4,011,000 0.7 100 -- 120 24 348,984,173 60.3 121 3 73,815,000 12.8 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 60 Max: 121 Wtd Avg: 104 REMAINING TERM TO STATED MATURITY OR ARD (MOS) NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- 56 -- 59 2 $ 27,200,000 4.7% 60 -- 79 5 124,824,000 21.6 80 -- 99 1 4,011,000 0.7 110 -- 119 13 193,739,173 33.5 120 -- 121 14 229,060,000 39.6 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 56 Max: 121 Wtd Avg: 103 PREPAYMENT PROVISION SUMMARY NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- Lockout/Defeasance/Open 29 $482,459,173 83.4% Lockout/Yield Maintenance/Open 5 79,775,000 13.8 Yield Maintenance/Open 1 16,600,000 2.9 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== CUT-OFF DATE LOAN-TO-VALUE RATIO NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- 27.5% -- 29.9% 2 $ 11,250,000 1.9% 30.0% -- 49.9% 2 4,020,000 0.7 50.0% -- 54.9% 1 50,000,000 8.6 55.0% -- 59.9% 2 28,500,000 4.9 60.0% -- 64.9% 3 64,140,000 11.1 65.0% -- 69.9% 8 128,022,173 22.1 70.0% -- 74.9% 4 78,483,000 13.6 75.0% -- 79.9% 12 191,595,000 33.1 80.0% 1 22,824,000 3.9 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 27.5% Max: 80.0% Wtd Avg: 69.1% LOAN-TO-VALUE RATIO AT MATURITY OR ARD NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- Fully Amortizing 1 $ 2,200,000 0.4% 23.4% -- 24.9% 2 11,250,000 1.9 25.0% -- 49.9% 1 1,820,000 0.3 50.0% -- 59.9% 7 123,112,410 21.3 60.0% -- 64.9% 5 116,299,763 20.1 65.0% -- 69.9% 8 87,293,000 15.1 70.0% -- 74.9% 7 136,835,000 23.6 75.0% -- 80.0% 4 100,024,000 17.3 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 23.4%(1) Max: 80.0%(1) Wtd Avg: 65.8%(1) (1) Excludes Mortgage Loans that are Fully Amortizing. DEBT SERVICE COVERAGE RATIOS NO. OF AGGREGATE % OF MORTGAGE CUT-OFF DATE LOAN LOANS BALANCE GROUP 2 -------- ------------ ------- 1.00x -- 1.19x 7 $178,624,000 30.9% 1.20x -- 1.24x 16 216,806,763 37.5 1.25x -- 1.29x 4 68,171,000 11.8 1.30x -- 1.34x 2 27,347,410 4.7 1.35x -- 1.39x 1 20,315,000 3.5 1.40x -- 1.49x 1 4,500,000 0.8 1.50x -- 1.59x 1 50,000,000 8.6 1.70x -- 1.79x 1 1,820,000 0.3 2.00x -- 2.99x 1 5,500,000 1.0 3.00x -- 3.08x 1 5,750,000 1.0 -- ------------ ----- TOTAL: 35 $578,834,173 100.0% == ============ ===== Min: 1.01x Max: 3.08x Wtd Avg: 1.27x * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 14 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- PREPAYMENT PROVISIONS BASED ON OUTSTANDING PRINCIPAL BALANCE PREPAYMENT PROVISIONS(1) AUG-06 AUG-07 AUG-08 AUG-09 AUG-10 AUG-11 - ------------------------ --------- --------- --------- --------- --------- --------- Lockout/ Defeasance(2)(3)(4) 94.17% 94.16% 90.90% 89.77% 84.53% 84.90% Yield Maintenance(3)(4) 5.83% 5.84% 9.10% 10.23% 13.56% 13.10% Open 0.00% 0.00% 0.00% 0.00% 1.91% 2.00% --------- --------- --------- --------- --------- --------- Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% ========= ========= ========= ========= ========= ========= Total Beginning Balance (in millions) $2,813.12 $2,808.57 $2,803.04 $2,792.25 $2,778.93 $2,499.56 Percent of Aggregate Cut-off Date Balance 100.00% 99.84% 99.64% 99.26% 98.78% 88.85% PREPAYMENT PROVISIONS(1) AUG-12 AUG-13 AUG-14 AUG-15 AUG-16 - ------------------------ --------- --------- --------- --------- ------- Lockout/ Defeasance(2)(3)(4) 85.58% 88.35% 86.34% 86.00% 22.94% Yield Maintenance(3)(4) 14.42% 11.65% 13.66% 13.77% 0.00% Open 0.00% 0.00% 0.00% 0.22% 77.06% --------- --------- --------- --------- ------- Total 100.00% 100.00% 100.00% 100.00% 100.00% ========= ========= ========= ========= ======= Total Beginning Balance (in millions) $2,426.59 $2,243.09 $2,214.86 $2,169.81 $134.45 Percent of Aggregate Cut-off Date Balance 86.26% 79.74% 78.73% 77.13% 4.78% PREPAYMENT PROVISIONS(1) AUG-17 AUG-18 AUG-19 AUG-20 AUG-21 AUG-22 AUG-23 AUG-24 AUG-25 AUG-26 - ------------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Lockout/ Defeasance(2)(3)(4) 100.00% 100.00% 29.93% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% Yield Maintenance(3)(4) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Open 0.00% 0.00% 70.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% ====== ====== ====== ====== ====== ====== ====== ====== ====== ====== Total Beginning Balance (in millions) $ 30.11 $ 9.99 $ 9.58 $ 2.56 $ 2.22 $ 1.87 $ 1.49 $ 1.08 $ 0.65 $ 0.19 Percent of Aggregate Cut-off Date Balance 1.07% 0.36% 0.34% 0.09% 0.08% 0.07% 0.05% 0.04% 0.02% 0.01% (1) Prepayment provisions in effect as a percentage of outstanding loan balances as of the indicated date assuming no prepayments on the Mortgage Loans (except that an ARD Loan will be repaid on its Anticipated Repayment Date). (2) One hundred forty-six Mortgage Loans representing 84.0% of the Initial Pool Balance (84.2% of the group 1 balance and 83.4% of the group 2 balance) are subject to an initial lockout period after which defeasance is permitted. (3) As of the Cut-off Date, 15 Mortgage Loans, representing 8.4% of the Initial Pool Balance (7.0% of the Group 1 Balance, and 13.8% of the Group 2 Balance) are subject to an initial lockout period after which prepayment is permitted subject to the greater of a yield maintenance charge or a 1% prepayment premium. (4) One Mortgage Loan, Loan No. 59756, representing 0.6% of the Initial Pool Balance (2.9% of the Group 2 Balance), does not have an initial lockout period and prepayment is permitted subject to the greater of a yield maintenance charge or a 1% prepayment premium. One Mortgage Loan, Loan No. GA25040, representing 5.2% of the Initial Pool Balance (6.6% of the Group 1 Balance) does not have an initial lockout period and prepayment is permitted subject to the greater of a yield maintenance charge or a 1% prepayment premium or, at the borrower's option after a defeasance lockout period, defeasance. One Mortgage Loan, Loan No. 760055017, representing 0.1% of the Initial Pool Balance (0.1% of the Group 1 Balance) is subject to an initial lockout period after which prepayment is permitted subject to a yield maintenance charge. One Mortgage Loan, Loan No. 3401856, representing 1.6% of the Initial Pool Balance (2.0% of the Group 1 Balance) is subject to an initial lockout period after which defeasance is permitted, then prepayment is permitted subject to the greater of a yield maintenance charge or a 1% prepayment premium or defeasance. * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 15 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- FIVE YEAR LOANS % OF % OF MORTGAGE CUT-OFF INITIAL APPLICABLE LOAN PROPERTY DATE POOL LOAN LOAN PROPERTY NAME SELLER STATE TYPE BALANCE BALANCE GROUP GROUP - ----------------------------------------- -------- ----- ------------ ------------ ------- ----- ---------- 55 Park Place ........................... GECC GA Office $ 53,000,000 1.9% 1 2.4% Orsini Apartments ....................... BofA CA Multifamily 50,000,000 1.8 2 8.6% 960 Main Street ......................... GACC CT Office 24,500,000 0.9 1 1.1% Verandah at Meyerland Apartments ........ GACC TX Multifamily 24,000,000 0.9 2 4.1% The Fairways at South Shore Apartments .. GACC TX Multifamily 22,824,000 0.8 2 3.9% Horizon & Mellon Office Buildings ....... BofA FL Office 22,400,000 0.8 1 1.0% FBI Building New Orleans ................ GACC LA Office 22,000,000 0.8 1 1.0% Emerson Gardens ......................... BofA NH Multifamily 16,600,000 0.6 2 2.9% Legacy of Cedar Hill - Phase II ......... BofA TX Multifamily 14,600,000 0.5 2 2.5% Legacy of Cedar Hill - Phase I .......... BofA TX Multifamily 13,400,000 0.5 2 2.3% Paradise Island Apartments IV ........... BofA FL Multifamily 10,600,000 0.4 2 1.8% 19 Clementina ........................... GACC CA Multifamily 9,200,000 0.3 1 0.4% Hilton Garden Inn Denver Airport ........ GECC CO Hotel 8,589,574 0.3 1 0.4% 3445 North Causeway ..................... BofA LA Office 6,000,000 0.2 1 0.3% Noah's Ark Self Storage ................. GECC TX Self Storage 3,078,000 0.1 1 0.1% Manufactured Country Estates MHC ..................... GECC OR Housing 3,049,000 0.1 1 0.1% Manufactured Capri Commons ........................... GECC FL Housing 3,000,000 0.1 1 0.1% Manufactured Buttonwood Village ...................... GECC FL Housing 2,700,000 0.1 1 0.1% Manufactured Apple Valley MHC ........................ GECC IN Housing 2,645,511 0.1 1 0.1% ------------ ---- TOTAL/WTD AVG: .......................... $312,186,085 11.1% ============ ==== REMAINING LOAN INTEREST REMAINING BALANCE PER CUT-OFF ONLY TERM TO TOTAL SF/ UNDERWRITTEN DATE LTV PERIOD MATURITY PROPERTY NAME UNIT/PAD/KEY DSCR RATIO (MONTHS) (MONTHS) - ----------------------------------------- ------------ ------------ -------- -------- --------- 55 Park Place ........................... $ 96 1.50x 78.9% 58 58 Orsini Apartments ....................... $168,919 1.58x 52.6% 60 60 960 Main Street ......................... $ 96 1.20x 73.1% 1 61 Verandah at Meyerland Apartments ........ $ 79,734 1.32x 55.4% 61 61 The Fairways at South Shore Apartments .. $ 75,327 1.20x 80.0% 60 60 Horizon & Mellon Office Buildings ....... $ 127 1.36x 78.9% 59 59 FBI Building New Orleans ................ $ 160 1.43x 72.2% 60 60 Emerson Gardens ......................... $103,750 1.22x 79.8% 8 56 Legacy of Cedar Hill - Phase II ......... $ 67,593 1.14x 66.4% 24 60 Legacy of Cedar Hill - Phase I .......... $ 64,423 1.14x 68.4% 24 60 Paradise Island Apartments IV ........... $ 80,303 1.21x 76.8% 59 59 19 Clementina ........................... $287,500 1.13x 50.4% 21 57 Hilton Garden Inn Denver Airport ........ $ 54,711 1.76x 50.8% 0 59 3445 North Causeway ..................... $ 47 2.29x 46.9% 59 59 Noah's Ark Self Storage ................. $ 55 1.27x 73.3% 0 60 Country Estates MHC ..................... $ 29,317 1.22x 73.8% 0 60 Capri Commons ........................... $ 22,388 1.46x 65.5% 1 61 Buttonwood Village ...................... $ 10,000 2.09x 46.6% 36 60 Apple Valley MHC ........................ $ 14,378 1.29x 74.3% 0 58 TOTAL/WTD AVG: .......................... 1.39X 68.2% SEVEN YEAR LOANS % OF MORTGAGE CUT-OFF INITIAL LOAN PROPERTY DATE POOL LOAN PROPERTY NAME SELLER STATE TYPE BALANCE BALANCE GROUP - ----------------------------------------- -------- ----- ------------ ------------ ------- ----- DDR Macquarie Portfolio ................. BofA (1) Retail $ 86,000,000 3.1% 1 The Graham Building ..................... GACC PA Office 28,320,000 1.0 1 Katella Corporate Center ................ GACC CA Office 12,250,000 0.4 1 Union Development Industrial Portfolio .. BofA CA Industrial 9,800,000 0.3 1 2601 Ocean Park Boulevard ............... GACC CA Office 8,200,000 0.3 1 Gander Mountain ......................... BofA TX Retail 6,380,000 0.2 1 Manufactured Orchard Lane MHC ........................ GECC OR Housing 4,011,000 0.1 2 Cabot Medical Center .................... GECC AR Office 2,900,000 0.1 1 Trop Encore Office ...................... BofA NV Office 1,380,398 0.0 1 ------------ --- TOTAL/WTD AVG: .......................... $159,241,398 5.7% ============ === REMAINING % OF LOAN INTEREST REMAINING APPLICABLE BALANCE PER CUT-OFF ONLY TERM TO LOAN TOTAL SF/ UNDERWRITTEN DATE LTV PERIOD MATURITY PROPERTY NAME GROUP UNIT/PAD/KEY DSCR RATIO (MONTHS) (MONTHS) - ----------------------------------------- ---------- ------------ ------------ -------- --------- --------- DDR Macquarie Portfolio ................. 3.8% $ 110 1.44x 69.9% 83 83 The Graham Building ..................... 1.3% $ 118 1.32x 74.3% 83 83 Katella Corporate Center ................ 0.5% $ 152 1.25x 78.5% 46 82 Union Development Industrial Portfolio .. 0.4% $ 52 1.22x 58.4% 60 84 2601 Ocean Park Boulevard ............... 0.4% $ 185 1.25x 71.9% 48 84 Gander Mountain ......................... 0.3% $ 96 1.26x 70.1% 24 84 Orchard Lane MHC ........................ 0.7% $38,567 1.26x 70.4% 23 83 Cabot Medical Center .................... 0.1% $ 232 1.21x 79.5% 36 84 Trop Encore Office ...................... 0.1% $ 194 1.25x 69.0% 0 81 TOTAL/WTD AVG: .......................... 1.36X 70.9% (1) Colorado, Georgia, Kansas and Texas. * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Term Sheet also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 16 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TEN LARGEST MORTGAGE LOANS* - -------------------------------------------------------------------------------- The following table and summaries describe the ten largest Mortgage Loans in the Mortgage Pool by Cut-off Date Balance: TEN LARGEST MORTGAGE LOANS BY CUT-OFF DATE BALANCE % OF MORTGAGE CUT-OFF INITIAL LOAN DATE POOL PROPERTY LOAN LOAN NAME SELLER BALANCE BALANCE TYPE GROUP - ---------------------------------------- -------- ------------ ------- ------------ ------ Technology Corners at Moffett Park ..... BofA $190,000,000 6.8% Office 1 BlueLinx Holdings Portfolio ............ GACC 147,500,000 5.2 Industrial 1 Marriott Indianapolis .................. BofA 101,780,000 3.6 Hotel 1 Mesa Mall .............................. BofA 87,250,000 3.1 Retail 1 DDR Macquarie Portfolio ................ BofA 86,000,000 3.1 Retail 1 Ritz-Carlton Key Biscayne .............. GACC 86,000,000 3.1 Hotel 1 Glendale Fashion Center ................ GACC 72,000,000 2.6 Retail 1 2000 Corporate Ridge Road .............. GACC 64,000,000 2.3 Office 1 Extra Space Portfolio .................. GECC 62,968,000 2.2 Self Storage 1 55 Park Place .......................... GECC 53,000,000 1.9 Office 1 ------------ ---- TOTAL/WTD AVG: ......................... $950,498,000 33.8% ============ ==== % OF APPLICABLE CUT-OFF LTV LOAN DATE LTV RATIO AT UNDERWRITTEN MORTGAGE LOAN NAME GROUP RATIO MATURITY OR ARD DSCR RATE - ---------------------------------------- ---------- -------- --------------- ------------ -------- Technology Corners at Moffett Park ..... 8.5% 65.7% 58.7% 1.25x 6.239% BlueLinx Holdings Portfolio ............ 6.6 79.2% 74.6% 1.24x 6.350% Marriott Indianapolis .................. 4.6 70.0% 65.6% 1.52x 5.992% Mesa Mall .............................. 3.9 77.3% 77.3% 1.33x 5.794% DDR Macquarie Portfolio ................ 3.8 69.9% 69.9% 1.44x 6.004% Ritz-Carlton Key Biscayne .............. 3.8 76.8% 76.8% 1.34x 6.342% Glendale Fashion Center ................ 3.2 80.0% 80.0% 1.20x 6.173% 2000 Corporate Ridge Road .............. 2.9 80.0% 77.3% 1.10x 6.220% Extra Space Portfolio .................. 2.8 75.8% 71.2% 1.20x 6.180% 55 Park Place .......................... 2.4 78.9% 78.9% 1.50x 6.200% ---- ---- ---- ----- TOTAL/WTD AVG: ......................... 74.2% 71.1% 1.31X 6.165% * Footnote (*) to the "GENERAL CHARACTERISTICS" table in the "Mortgage Pool Characteristics as of the Cut-off Date" section to this Structural and Collateral Information also applies to this page. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 17 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 18 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: Bank of America LOAN PURPOSE: Refinance ORIGINAL PRINCIPAL BALANCE: $190,000,000 FIRST PAYMENT DATE: September 1, 2006 TERM/AMORTIZATION: 120/360 months INTEREST ONLY PERIOD: 24 months MATURITY DATE: August 1, 2016 EXPECTED MATURITY BALANCE: $169,540,964 BORROWING ENTITY: Moffett Park Drive LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 113 payments Open: 7 payments UP-FRONT RESERVES: TAX RESERVE: Yes ONGOING MONTHLY RESERVES: TAX RESERVE: Yes REPLACEMENT RESERVE: $8,950 OTHER RESERVE(1): $1,000,000 LETTERS OF CREDIT(2): $27,340,000 FUTURE MEZZANINE DEBT: Yes LOCKBOX: Hard - -------------------------------------------------------------------------------- (1) Monthly Ariba Rollover Reserve beginning September 1, 2010 through and including December 1, 2012. (2) Three letters of credit act as additional security for the Ariba lease. One letter with a face amount of $600,000 expires in May 2008; the remaining letters expire in February 2013. In each instance the mortgagee is listed as an additional beneficiary and has the right to draw on the letters upon an event of default to pay down the loan, assist with any rollover expenses or for other purposes to the extent the landlord is entitled to retain such proceeds. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $190,000,000 CUT-OFF DATE LTV: 65.7% MATURITY DATE LTV: 58.7% UNDERWRITTEN DSCR: 1.25x INTEREST ONLY DSCR: 1.46x MORTGAGE RATE: 6.239% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Office PROPERTY SUB-TYPE: Suburban LOCATION: Sunnyvale, California YEAR BUILT/RENOVATED: 2001/NAP NET RENTABLE SQUARE FEET: 715,988 CUT-OFF BALANCE PSF: $265 OCCUPANCY AS OF JUNE 1, 2006(1): 100.0% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: Jay Paul Company UNDERWRITTEN NET CASH FLOW: $ 17,538,539 APPRAISED VALUE: $289,000,000 - -------------------------------------------------------------------------------- (1) The Mortgaged Property was 100% leased and 88.0% occupied as of June 1, 2006. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 19 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- FULL YEAR FULL YEAR FULL YEAR (12/31/2003) (12/31/2004) (12/31/2005) UNDERWRITTEN ----------- ----------- ----------- ------------ Effective Gross Income ....... $31,306,182 $32,007,142 $35,773,248 $21,742,412 Total Expenses ............... $ 3,701,827 $ 3,598,885 $ 3,182,004 $ 3,121,156 Net Operating Income (NOI) ... $27,604,355 $28,408,257 $32,591,244 $18,621,256 Cash Flow (CF) ............... $27,604,355 $28,408,257 $32,591,244 $17,538,539 DSCR on NOI .................. 1.97x 2.03x 2.32x 1.33x DSCR on CF ................... 1.97x 2.03x 2.32x 1.25x - -------------------------------------------------------------------------------- TENANT INFORMATION(1)(2) - -------------------------------------------------------------------------------- RATINGS TOTAL % OF RENT POTENTIAL % POTENTIAL LEASE TOP TENANTS MOODY'S/S&P TENANT SF TOTAL SF PSF RENT RENT EXPIRATION - ------------------------------ ----------- --------- -------- ------ ----------- ----------- ---------- Ariba ........................ Not Rated 271,976 38.0% $43.80 $31,360,274 100.0% 01/24/2013 Juniper Networks (Sublease)... NR/BB 177,624 24.8 NAP NAP NAP 05/13/2008 Interwoven (Sublease). ....... Not Rated 175,082 24.5 NAP NAP NAP 07/31/2007 Motorola (Sublease) .......... Baa2/A- 91,306 12.8 NAP NAP NAP 08/31/2008 ------- ----- ----------- ----- TOTAL ........................ 715,988 100.0% $31,360,274 100.0% (1) Information obtained from underwritten rent roll except for Ratings (Moody's/S&P) and unless otherwise stated. Credit Ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to Rent PSF, Potential Rent and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. (2) Ariba net leases 100% of the Technology Corners at Moffett Park Mortgaged Property through January 24, 2013; they have sublet approximately 62.0% of their space to three tenants. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 20 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS - -------------------------------------------------------------------------------- The four largest tenants, representing 100.0% of the total net rentable square feet, are: o ARIBA (not rated) leases 100.0% of the space, but occupies a total of 271,976 square feet (38.0% of square feet, 100.0% of rental income) under five 12-year leases all expiring on January 24, 2013. The current rental rate per square foot of $43.80 increases annually by 4%. There is one five-year option to renew the leases with the rental rates continuing to increase annually by 4%. Ariba is a provider of Spend Management solutions that help companies analyze, understand and manage their corporate spending to achieve increased cost savings and business process efficiency. Ariba's software and services streamline the business processes related to the identification of suppliers of goods and services, the negotiation of the terms of purchases, and the management of ongoing purchasing and settlement activities. Ariba applications currently operate on nearly four million desktops around the world. Clients include ABN AMRO, BMW, Chevron, Cisco Systems, Hewlett-Packard and Unilever. As of the fiscal year ended September 30, 2005, Ariba reported revenue of approximately $323.0 million and stockholder equity of $329.5 million. o JUNIPER NETWORKS (not rated by Moody's and rated "BB" by S&P) occupies a total of 177,624 square feet (24.8% of square feet) under a five-year sublease expiring on May 13, 2008. The current rental rate per square foot of $17.76 is constant during the initial lease term. There are two options to renew the lease, one for two years and one for three years, with the rental rate initially determined at 95% of the then fair market, increasing annually by 4% thereafter for each option period. Juniper Networks engages in the design and sale of products and services that provide customers with Internet protocol networking solutions. Juniper Networks primarily offers scalable router products that are used to control and direct network traffic. Juniper Networks also provides solutions that protect the network and data on the network, and enhance existing bandwidth. Juniper Networks provides its products to enterprises, governments, research and education institutions, as well as wireline, wireless, cable and next-generation network operators through a direct sales force, distributors and resellers. As of the fiscal year ended December 31, 2005, Juniper Networks reported revenue of approximately $2.1 billion, net income of $354.0 million and stockholder equity of $6.9 billion. o INTERWOVEN (not rated) occupies 175,082 square feet (24.5% of square feet) under a six-year sublease expiring on July 31, 2007. The current rental rate per square foot of $52.56 increases annually by 4%. There is one five-year option to renew the lease with the rental rate continuing to increase annually by 4%. Interwoven provides enterprise content management software and services. Interwoven's products enable businesses to create, review, manage, distribute and archive critical business content, such as documents, spreadsheets, emails and presentations, as well as Web images, graphics, content and applications code across the enterprise and its chain of customers, partners and suppliers. As of the fiscal year ended December 31, 2005, Interwoven reported revenue of approximately $175.0 million and stockholder equity of $298.2 million. o MOTOROLA (rated "Baa2" by Moody's and "A-" by S&P) occupies 91,306 square feet (12.8% of square feet) under a four-year sublease expiring on August 31, 2008. The current rental rate per square foot of $15.60 increases annually by 4%. There is one 53-month option to renew the lease with the rental rate initially determined at 95% of the then fair market, increasing annually by 4% thereafter. Motorola engages in the design, manufacture, marketing and sale of mobility products worldwide. Motorola operates in four segments: Mobile Devices, Government and Enterprise Mobility Solutions, Networks and Connected Home Solutions. The Mobile Devices segment offers wireless handsets with related software and accessory products. The Government and Enterprise Mobility Solutions segment provides wireless communications systems for government and public safety markets, business wireless devices, networks and applications for enterprise organizations, and electronics and telematics systems for automobile manufacturers. The Networks segment provides cellular infrastructure systems, fiber-to-the-premise and fiber-to-the-node transmission systems, wireless broadband systems and embedded communications computing platforms. The Connected Home Solutions segment offers various broadband products, high speed data products, hybrid fiber coaxial network transmission systems, digital satellite program distribution systems, direct-to-home satellite networks and private networks for business communications, and video communication products. As of the fiscal year ended December 31, 2005, Motorola reported revenue of approximately $36.8 billion, net income of $4.6 billion and stockholder equity of $16.7 billion. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 21 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The Technology Corners at Moffett Park Mortgage Loan is a $190.0 million, ten-year fixed rate loan secured by a first mortgage on five office buildings located in Sunnyvale, Santa Clara County, California. The Technology Corners at Moffett Park Mortgage Loan is interest only for the first two years of the loan term, matures on August 1, 2016 and accrues interest at an annual rate of 6.239%. THE BORROWER: o The Technology Corners at Moffett Park Borrower is Moffett Park Drive LLC, a California limited liability company and a single purpose bankruptcy remote entity with at least two independent directors for which the Technology Corners at Moffett Park Borrower's legal counsel has delivered a non-consolidation opinion. Equity ownership is held 1% by Gateway Land Company, Inc. as the Managing Member and 99% by Jay Paul, the borrower principal. o Mr. Paul owns Jay Paul Company, a real estate management and development company based in San Francisco, which has developed over 5.0 million square feet of commercial real estate in northern and central California since 1975. THE MORTGAGED PROPERTY: o The Technology Corners at Moffett Park Mortgaged Property consists of a fee simple interest in five Class "A" office buildings consisting of one two-story building and 4 four-story buildings built in 2001. The improvements contain a total of 715,988 net rentable square feet and are situated on 26.56 acres. Technology Corners at Moffett Park Mortgaged Property amenities include a dedicated light rail station, a 15,660 square foot fitness facility, a 21,510 square foot cafeteria, pedestrian walkways, fountains and seating areas. o The Technology Corners at Moffett Park Mortgaged Property is located in the San Jose-Sunnyvale-Santa Clara metropolitan statistical area in the South Bay/San Jose market and the Moffett Park submarket. The City of Sunnyvale is located in the northwest portion of Santa Clara County, approximately 35 miles southeast of San Francisco and eight miles northwest of San Jose. The neighborhood consists of primarily office, industrial, commercial and retail uses and is located just north of Highway 101. o The Technology Corners at Moffett Park Borrower is generally required at its sole cost and expense to keep the Technology Corners at Moffett Park Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o The Jay Paul Company manages the Technology Corners at Moffett Park Mortgaged Property. The Jay Paul Company, founded in 1975 and headquartered in San Francisco, currently owns and/or manages more than 5.0 million square feet of Class "A" office and retail space located in California. COLLATERAL RELEASES AND SUBSTITUTION: o In response to a proposed roadway extension, the Technology Corners at Moffett Park Borrower has proposed to adjust the lot line of the Technology Corners at Moffett Park Mortgaged Property which would, if pursued and subject to compliance with certain conditions, result in a partial release of a portion of the Mortgaged Property. The conditions to the release include a loan-to-value test. However, to the extent that the release results in a loan-to-value ratio (taking into account any assigned value of the parking garage) greater than the loan-to-value ratio at origination, the Technology Corners at Moffett Park Borrower may prepay a portion of the Technology Corners at Moffett Park Mortgage Loan in order to achieve such a required loan-to-value ratio. Finally, if required in connection with such a release, the borrower also may construct a parking garage at the Technology Corners at Moffett Park Mortgaged Property, subject to compliance with certain conditions, including a requirement that the related borrower principal provide a guarantee of the estimated construction cost. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 22 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- ARIBA ROLLOVER RESERVE: o Beginning September 1, 2010, the mortgagee will collect $1,000,000 monthly through and including December 1, 2012. This will result in a reserve of approximately $28,000,000, which will be applied as follows: up to $21,100,000 for tenant improvement and leasing commissions associated with the lease-up of the vacated space and up to $6,900,000 for debt service payments and/or tenant improvement costs. The foregoing reserves may be released subject to certain events and/or conditions set forth in the related loan documents. o Three letters of credit (totaling $27,340,000) act as additional security for the Ariba lease. One letter with a face amount of $600,000 expires in May 2008; the remaining letters expire in February 2013. In each instance the mortgagee is listed as an additional beneficiary and has the right to draw on the letters upon an event of default to pay down the loan, assist with any rollover expenses or for other purposes to the extent the landlord is entitled to retain such proceeds. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o The Technology Corners at Moffett Park Borrower is permitted to incur mezzanine financing upon the satisfaction of the following terms and conditions, including without limitation: (a) no event of default has occurred and is continuing; (b) a permitted mezzanine lender originates such mezzanine financing; (c) the mezzanine lender will have executed an intercreditor agreement in form and substance reasonably acceptable to the mortgagee; (d) the amount of such mezzanine loan will not exceed an amount which, when added to the outstanding principal balance of the Technology Corners at Moffett Park Mortgage Loan, results in a maximum loan-to-value ratio greater than 75% and a minimum debt service coverage ratio (as calculated by the mortgagee on a trailing 12-month basis) less than 1.25x; and (e) the mortgagee will have received confirmation from the rating agencies that such mezzanine financing will not result in a downgrade, withdrawal or qualification of the ratings issued, or to be issued, in connection with a securitization involving the Technology Corners at Moffett Park Mortgage Loan. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 23 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- TECHNOLOGY CORNERS AT MOFFETT PARK - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 24 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 25 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GACC LOAN PURPOSE: Refinance ORIGINAL NOTE A-1 PRINCIPAL BALANCE: $147,500,000(1) FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 120/360 months INTEREST ONLY PERIOD: 60 months MATURITY DATE: July 1, 2016 EXPECTED NOTE A-1 MATURITY BALANCE: $138,828,954 BORROWING ENTITY: 58 separate SPEs INTEREST CALCULATION: Actual/360 CALL PROTECTION: GRTR 1% PPMT or Yield Maintenance: 25 payments GRTR 1% PPMT or Yield Maintenance or Defeasance: 88 payments Open: 7 payments PARI PASSU DEBT: $147,500,000 Note A-2 UPFRONT RESERVES: TAX/INSURANCE RESERVE: Yes IMMEDIATE REPAIR RESERVE: $404,310 ONGOING MONTHLY RESERVES: TAX/INSURANCE RESERVE: Yes LOW CASH FLOW RESERVE: Springing(2) REPLACEMENT RESERVE: Springing(3) LOCKBOX: Hard - -------------------------------------------------------------------------------- (1) The original Note A-1 ("A-1 Note") principal balance amount of $147,500,000 represents the A-1 Note from a first mortgage in the original principal amount of $295,000,000 (the "Whole Loan"). In addition to the A-1 Note, there is an A-2 note in the amount of $147,500,000 (the "BlueLinx Holdings Portfolio Companion Loan"). The BlueLinx Holdings Portfolio Companion Loan was contributed to another trust. For further information, see "The Loan" below. (2) A reserve (the "Low Cash Flow Reserve") will be required in the event that the EBITDA for BlueLinx Corporation (the lessor under the Master Lease, as described in the "Master Lease" section below) falls below 2.5 times the rent due under the Master Lease for two consecutive quarters. (3) A reserve (the "Replacement Reserve") will be required in the event that more than 10.0% of the BlueLinx Holdings Portfolio Mortgaged Property has been sublet. The Replacement Reserve is required to equal one-twelfth of the product of $0.05 and the aggregate square footage of the BlueLinx Holdings Portfolio Mortgaged Property that is sublet. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- WHOLE LOAN CUT-OFF DATE BALANCE: $295,000,000 A-1 NOTE CUT-OFF DATE BALANCE: $147,500,000 COMPANION LOAN CUT-OFF DATE BALANCE(1): $147,500,000 CUT-OFF DATE LTV(1)(2): 79.2% MATURITY DATE LTV(1)(3): 74.6% UNDERWRITTEN DSCR(1): 1.24x INTEREST ONLY DSCR:(1) 1.44x MORTGAGE RATE: 6.350% - -------------------------------------------------------------------------------- (1) The BlueLinx Holdings Portfolio Companion Loan is not included in the trust, however, it is pari passu with the A-1 Note which is being contributed to the trust. Unless otherwise specified, all DSCR, LTV and other calculations with respect to the BlueLinx Holdings Portfolio Loan are based on the BlueLinx Holdings Portfolio Whole Loan. (2) Based on the "As-is" appraised value of $372.39 million. The Cut-off Date loan-to-value ("LTV") ratio, based on the $390 million aggregate appraised value of the BlueLinx Holdings Portfolio, is 75.6%. (3) Based on the "As-is" appraised value of $372.39 million. The Maturity Date LTV, based on the $390 million aggregate appraised value of the BlueLinx Holdings Portfolio, is 71.2%. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Industrial(1) PROPERTY SUB-TYPE: Warehouse NUMBER OF PROPERTIES: 57 distribution facilities, 1 office LOCATION: Various locations in 36 states YEAR BUILT/RENOVATED: Various/Various NET RENTABLE SQUARE FEET: 9,003,865 CUT-OFF BALANCE PSF(2): $32.76 OCCUPANCY AS OF AUGUST 1, 2006: 100.0% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: BlueLinx Corporation (an affiliate of the borrower) UNDERWRITTEN NET CASH FLOW: $27,282,526 APPRAISED VALUE(3): $372,390,000 - -------------------------------------------------------------------------------- (1) One BlueLinx Holdings Portfolio Mortgaged Property is an office property. (2) All calculations are based on the Whole Loan amount of $295.0 million. (3) This "As-is" appraised value is a sum of the individual BlueLinx Holdings Portfolio Mortgaged Property values. The appraised value of $390,000,000 is based on a premium, as determined by the appraiser, achieved for the diversity of the entire BlueLinx Holdings Portfolio. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 26 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- FINANCIAL INFORMATION(1) UNDERWRITTEN ------------ Effective Gross Income .......................................... $30,187,953 Total Expenses .................................................. $ 857,067 Net Operating Income (NOI) ...................................... $29,330,887 Cash Flow (CF) .................................................. $27,282,526 DSCR on NOI ..................................................... 1.33x DSCR on CF ...................................................... 1.24x (1) The underwriting was based on the new 15-year master lease executed in June of 2006. Prior financials are not applicable. PROPERTY INFORMATION ALLOCATED YEAR BUILT / TOTAL PROPERTY NAME LOAN AMOUNT RENOVATED SQUARE FEET - ---------------------------------- ----------- ------------ ----------- BlueLinx -- Frederick, MD ........ $29,536,153 1996/NA 850,000 BlueLinx -- Bellingham, MA ....... 21,744,000 1988/NA 448,500 BlueLinx -- University Park, IL .. 15,936,000 1996/NA 670,000 BlueLinx -- Lawrenceville, GA .... 15,731,870 1995/NA 560,000 BlueLinx -- Yulee, FL ............ 13,440,000 1996/NA 462,800 BlueLinx -- Newark, CA ........... 10,270,000 1960/NA 234,090 BlueLinx -- Butner, NC ........... 10,230,500 1997/NA 401,648 BlueLinx -- Ft.Worth, TX ......... 9,184,569 1974/1998 272,449 BlueLinx -- La Puente, CA ........ 8,241,623 1969/NA 135,821 BlueLinx -- Ypsilanti, MI ........ 7,990,179 1996/NA 168,971 BlueLinx -- National City, CA .... 7,524,329 1972/NA 93,000 BlueLinx -- Englewood, CO ........ 6,720,000 1995/NA 68,721 BlueLinx -- Independence, KY ..... 6,560,000 1996/NA 202,021 BlueLinx -- Bridgeton, MO ........ 6,489,396 1996/NA 192,500 BlueLinx -- Beaverton, OR ........ 5,800,000 1975/NA 105,168 BlueLinx -- N. Kansas City, MO ... 5,704,000 1980/NA 234,683 BlueLinx -- Tampa, FL ............ 5,440,000 1986/NA 108,852 BlueLinx -- Denville, NJ ......... 4,800,000 1975/NA 142,959 BlueLinx -- Woodinville, WA ...... 4,542,500 1970/NA 77,360 BlueLinx -- Denver, CO ........... 4,445,826 1973/NA 113,040 BlueLinx -- Miami, FL ............ 4,345,000 1965/NA 102,868 BlueLinx -- Riverside, CA ........ 4,116,143 1968/NA 95,391 BlueLinx -- Houston, TX .......... 4,041,900 1964-1978/NA 157,825 BlueLinx -- Erwin, TN ............ 3,720,000 1996/NA 153,069 BlueLinx -- Maple Grove, MN ...... 3,600,000 1974/NA 103,868 BlueLinx -- Pensacola, FL ........ 3,490,123 1972/NA 107,844 BlueLinx -- Elkhart, IN .......... 3,460,400 1973/NA 183,000 BlueLinx -- Tulsa, OK ............ 3,104,000 1974/NA 143,500 BlueLinx -- Midfield, AL ......... 3,080,000 1996/NA 123,750 BlueLinx -- Newtown, CT .......... 3,040,000 1978/NA 113,360 BlueLinx -- Nashville, TN ........ 2,996,247 1966/1988 101,000 BlueLinx -- Charlotte, NC ........ 2,950,512 1968-1972/NA 95,480 BlueLinx -- Allentown, PA ........ 2,900,000 1979/NA 83,000 BlueLinx -- San Antonio, TX ...... 2,784,000 1966/NA 95,231 BlueLinx -- Richmond, VA ......... 2,644,792 1965/NA 83,990 BlueLinx -- New Stanton, PA ...... 2,640,000 1961/1972 76,290 CUT-OFF DATE APPRAISED POTENTIAL RENT PROPERTY NAME BALANCE PSF VALUE PSF POTENTIAL RENT PSF - ---------------------------------- ------------ --------- -------------- -------------- BlueLinx -- Frederick, MD ........ $34.75 $ 44.71 $2,847,500 $ 3.35 BlueLinx -- Bellingham, MA ....... 48.48 60.60 2,242,500 5.00 BlueLinx -- University Park, IL .. 23.79 29.73 1,909,500 2.85 BlueLinx -- Lawrenceville, GA .... 28.09 34.46 1,400,000 2.50 BlueLinx -- Yulee, FL ............ 29.04 36.30 1,388,400 3.00 BlueLinx -- Newark, CA ........... 43.87 55.53 1,039,360 4.44 BlueLinx -- Butner, NC ........... 25.47 32.24 1,004,120 2.50 BlueLinx -- Ft.Worth, TX ......... 33.71 40.23 817,347 3.00 BlueLinx -- La Puente, CA ........ 60.68 77.31 733,433 5.40 BlueLinx -- Ypsilanti, MI ........ 47.29 57.88 740,684 4.38 BlueLinx -- National City, CA .... 80.91 98.92 669,600 7.20 BlueLinx -- Englewood, CO ........ 97.79 122.23 687,210 10.00 BlueLinx -- Independence, KY ..... 32.47 40.59 656,568 3.25 BlueLinx -- Bridgeton, MO ........ 33.71 47.48 577,500 3.00 BlueLinx -- Beaverton, OR ........ 55.15 68.94 578,424 5.50 BlueLinx -- N. Kansas City, MO ... 24.31 30.38 586,708 2.50 BlueLinx -- Tampa, FL ............ 49.98 62.47 571,473 5.25 BlueLinx -- Denville, NJ ......... 33.58 41.97 551,469 3.86 BlueLinx -- Woodinville, WA ...... 58.72 74.33 444,820 5.75 BlueLinx -- Denver, CO ........... 39.33 53.08 395,640 3.50 BlueLinx -- Miami, FL ............ 42.24 53.47 437,189 4.25 BlueLinx -- Riverside, CA ........ 43.15 70.24 366,301 3.84 BlueLinx -- Houston, TX .......... 25.61 31.62 473,475 3.00 BlueLinx -- Erwin, TN ............ 24.30 30.38 382,673 2.50 BlueLinx -- Maple Grove, MN ...... 34.66 43.32 431,052 4.15 BlueLinx -- Pensacola, FL ........ 32.36 38.95 323,532 3.00 BlueLinx -- Elkhart, IN .......... 18.91 23.06 411,750 2.25 BlueLinx -- Tulsa, OK ............ 21.63 27.04 358,750 2.50 BlueLinx -- Midfield, AL ......... 24.89 31.11 371,250 3.00 BlueLinx -- Newtown, CT .......... 26.82 33.52 322,500 2.84 BlueLinx -- Nashville, TN ........ 29.67 36.63 277,750 2.75 BlueLinx -- Charlotte, NC ........ 30.90 48.18 262,570 2.75 BlueLinx -- Allentown, PA ........ 34.94 43.67 311,250 3.75 BlueLinx -- San Antonio, TX ...... 29.23 36.54 285,693 3.00 BlueLinx -- Richmond, VA ......... 31.49 38.10 335,960 4.00 BlueLinx -- New Stanton, PA ...... 34.60 43.26 267,015 3.50 The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 27 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- PROPERTY INFORMATION -- CONTINUED CUT-OFF DATE APPRAISED POTENTIAL ALLOCATED YEAR BUILT / TOTAL BALANCE VALUE POTENTIAL RENT PROPERTY NAME LOAN AMOUNT RENOVATED SQUARE FEET PSF PSF RENT PSF - ------------- ------------ ------------ ----------- ------------ --------- ----------- --------- BlueLinx -- Albuquerque, NM ...... 2,607,000 1972/NA 65,430 39.84 50.44 261,720 4.00 BlueLinx -- Yaphank, NY .......... 2,560,000 1974/NA 81,972 31.23 39.04 266,409 3.25 BlueLinx -- Portland, ME ......... 2,424,000 1968/NA 51,918 46.69 58.36 246,611 4.75 BlueLinx -- Memphis, TN .......... 2,383,438 1973/NA 98,197 24.27 29.53 220,943 2.25 BlueLinx -- Shelburne, VT ........ 2,361,600 1972/NA 62,250 37.94 46.27 280,125 4.50 1977 & BlueLinx -- Fargo, ND ............ 2,280,000 1987/NA 81,598 27.94 34.93 272,619 3.34 BlueLinx -- Shreveport, LA ....... 2,251,800 1970/NA 132,100 17.05 21.04 264,200 2.00 BlueLinx -- Lake City, FL ........ 2,240,000 1968/1998 106,027 21.13 26.41 238,561 2.25 BlueLinx -- Little Rock, AR ...... 2,176,000 1962/1976 92,300 23.58 29.47 230,750 2.50 BlueLinx -- Virginia Beach, VA ... 2,128,000 1972/NA 64,024 33.24 41.55 240,090 3.75 BlueLinx -- Tallmadge, OH ........ 2,060,000 1975/NA 77,000 26.75 33.44 231,000 3.00 BlueLinx -- Eagan, MN ............ 1,944,000 1970/NA 64,080 30.34 37.45 237,096 3.70 BlueLinx -- Springfield,MO ....... 1,861,400 1972/NA 98,402 18.92 23.07 221,405 2.25 BlueLinx -- Sioux Falls, SD ...... 1,720,000 1973/NA 63,714 27.00 33.74 201,015 3.15 BlueLinx -- El Paso, TX .......... 1,530,900 1970/NA 65,500 23.37 28.85 180,125 2.75 BlueLinx -- Des Moines, IA ....... 1,524,700 1969/NA 58,920 25.88 32.76 153,192 2.60 BlueLinx -- Harlingen, TX ........ 1,482,300 1977/NA 87,100 17.02 21.01 174,200 2.00 BlueLinx -- Grand Rapids, MI ..... 1,360,800 1976/NA 91,731 14.83 18.31 160,529 1.75 BlueLinx -- Charleston, SC ....... 1,360,000 1975/NA 40,252 33.79 42.23 143,297 3.56 BlueLinx -- Wausau, WI ........... 1,312,000 1973/NA 50,530 25.96 32.46 151,590 3.00 BlueLinx -- Lubbock, TX .......... 1,240,000 1964/NA 71,721 17.29 21.61 143,442 2.00 BlueLinx -- Pearl, MS ............ 948,000 1967/NA 37,050 25.59 32.39 92,625 2.50 ------------ --------- ------ ------ ----------- ----- TOTAL/AVERAGE .................... $295,000,000 9,003,865 $32.76 $41.36 $30,072,510 $3.34 TENANT INFORMATION(1) % OF RENT POTENTIAL % POTENTIAL LEASE TOP TENANTS TOTAL SF PSF(2) RENT RENT EXPIRATION - ---------------------------------- -------- ------ ----------- ----------- ---------- BlueLinx Holdings, Inc. .......... 100.0% $ 3.34 $30,072,510 100.0% 6/8/2021 ----- ----------- ----- TOTAL ............................ 100.0% $30,072,510 100.0% (1) Information obtained from underwritten rent roll unless otherwise stated. Calculations with respect to Rent PSF, Potential Rent and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. (2) Represents the weighted average rent per square foot of the BlueLinx Holdings Portfolio Mortgaged Properties. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 28 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS MASTER LEASE: Each BlueLinx Holdings Portfolio borrower (the "Borrower") entered into a 15-year triple net lease for its applicable BlueLinx Holdings Portfolio Mortgaged Property (the "Master Lease") with BlueLinx Corporation, an affiliate of the Borrower and the operating subsidiary of BlueLinx Holdings Inc. ("BlueLinx Holdings") (NSYE:"BXC"). The Master Lease rent of $3.34/square foot is based upon a weighted average market triple net leased rent (as determined by the appraiser) of all of the BlueLinx Holdings Portfolio Mortgaged Properties. The Master Lease is subject to and subordinate to the BlueLinx Holdings Portfolio Loan. BLUELINX CORPORATION occupies 100.0% of the total net rentable square feet of the BlueLinx Holdings Portfolio Mortgaged Properties. Each BlueLinx Holdings Portfolio Mortgaged Property is owned by a single-purpose, bankruptcy-remote, limited liability company which was formed to own, finance and operate the applicable BlueLinx Holdings Portfolio Mortgaged Property. In general, each BlueLinx Holdings Portfolio Mortgaged Property consists of three primary components: (i) the main office/warehouse/distribution center buildings, (ii) shed space and (iii) the land. The office/warehouse/distribution space at each BlueLinx Holdings Portfolio Mortgaged Property ranges from approximately 37,000 square feet to 850,000 square feet. The shed space at each BlueLinx Holdings Portfolio Mortgaged Property averages approximately 34,437 square feet and the land averages approximately 18.4 acres. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 29 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION THE LOAN: o The BlueLinx Holdings Portfolio loan ("BlueLinx Holdings Portfolio Loan") is a $147.5 million ten-year fixed rate loan secured by a first priority mortgage on a portfolio of 57 distribution facilities and one office property. The BlueLinx Holdings Portfolio Loan is interest-only for the initial 60 months and then amortizes on a 360-month schedule. The BlueLinx Holdings Portfolio Loan matures on July 1, 2016 and accrues interest at an annual rate of 6.350%. o The BlueLinx Holdings Portfolio Loan is pari passu with the BlueLinx Holdings Portfolio Companion Loan. The BlueLinx Holdings Portfolio Companion Loan had an original principal amount of $147,500,000 and is not an asset of the trust. The BlueLinx Holdings Portfolio Loan and the BlueLinx Holdings Portfolio Companion Loan are governed by an intercreditor and servicing agreement and will be serviced to pursuant to the terms of a pooling and servicing agreement relating to Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C27, as described under "Servicing of the Mortgage Loans" in the prospectus supplement. THE BORROWER AND SPONSOR: o The Borrowers of the BlueLinx Holdings Portfolio Loan are 58 single-purpose bankruptcy-remote entities each owning one BlueLinx Holdings Portfolio Mortgaged Property. Each Borrower is a Delaware limited liability company with at least two independent directors for which a non-consolidation opinion was delivered at closing. o BlueLinx Holdings was the in-house distribution division of Georgia-Pacific Corporation until May 2004 when it was acquired by the private equity firm Cerberus Capital Management, L.P. ("Cerberus") and selected members of the Cerebus management team. After establishing the operating and branding strategy of the stand alone entity, BlueLinx Holdings was taken public in December of 2004 at $13.50 per share with a 10.9 million share offering . As of August 8, 2006, BlueLinx Holdings had a total market capitalization of approximately $333.15 million, with 30.65 million shares outstanding. As of February 15, 2006, BlueLinx Holdings employed approximately 3,600 persons on a full-time basis. As of the fiscal year ended December 31, 2005, BlueLinx Holdings reported net income of $44.6 million and EBITDA of $134.25 million. o BlueLinx Holdings, operating through its wholly-owned subsidiary, BlueLinx Corporation, currently distributes over 10,000 products to approximately 12,000 customers through its network of more than 65 warehouses and additional third-party operated warehouses. BlueLinx Holdings' customers include building materials dealers, industrial users of building products, manufactured housing builders and home improvement centers. BlueLinx Holdings purchases products from over 750 vendors and serves as a national distributor for a number of its suppliers. BlueLinx Holdings distributes products through its owned fleet of over 900 trucks and over 1,200 trailers, as well as by common carrier. THE MORTGAGED PROPERTY: o The BlueLinx Holdings Portfolio Mortgaged Property consists of fee simple interests in 57 industrial properties and one office property for a total of 9,003,865 square feet in 36 states. Thirty-three of the BlueLinx Holdings Portfolio Mortgaged Properties are located east of the Mississippi River, reflecting the greater population density in the eastern third of the United States. Six of the BlueLinx Holdings Portfolio Mortgaged Properties are located in the state of Texas, five in Florida and four in California. BlueLinx Holdings maintains a large presence in these markets in order to serve the substantial construction activity in each. The BlueLinx Holdings Portfolio Mortgaged Properties were built between 1960 and 1997 and range in size from 37,050 to 850,000 square feet. The vast majority of the BlueLinx Holdings Portfolio Mortgaged Properties are located in close proximity to major rail lines which serve as the primary means of transportation for the inventory stored in BlueLinx Holdings' warehouse facilities. o The Borrowers are generally required at their sole cost and expense to keep the BlueLinx Holdings Portfolio Mortgaged Properties insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 30 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- PROPERTY MANAGEMENT: o The portfolio is self-managed by BlueLinx Corporation, an affiliate of the borrower. RELEASE: o The Borrower may obtain the release of a BlueLinx Holdings Portfolio Mortgaged Property or properties, subject to the satisfaction of certain conditions set forth in the BlueLinx Holdings Portfolio Loan documents, including, but not limited to: (1) delivery of (A) defeasance collateral sufficient to defease a portion of the BlueLinx Holding Portfolio Loan equal to the applicable release price or (B) cash equal to the applicable release price, together with the Yield Maintenance Premium (as defined in the BlueLinx Holdings Portfolio Loan documents) and (2) that the Lease Coverage Ratio (as defined below) is not less than the greater of (a) 90% of the BlueLinx Holdings Portfolio Loan closing date Lease Coverage Ratio and (b) 75% of the Lease Coverage Ratio for all of the individual BlueLinx Holdings Portfolio Loan Mortgaged Properties immediately prior to the release date. The release price is an amount equal to (1) 125% of the Allocated Loan Amount with respect to (A) the property located in Englewood, Colorado and (B) any other BlueLinx Holdings Portfolio Mortgaged Property that contains more than 200,000 square feet of main distribution space or (2) with respect to any BlueLinx Holdings Portfolio Mortgaged Property that contains 200,000 square feet or less, if the remaining principal balance of the BlueLinx Holdings Portfolio Whole Loan after the release is (a) from $295,000,000 to and including $265,500,000, then 100% of the related Allocated Loan Amount or (b) less than $265,000,000, then 110% of the related Allocated Loan Amount. "Lease Coverage Ratio" means a ratio in which (i) the numerator is the tenant's EBITDAR as stated on the tenant's four most recent quarterly financial statements delivered to the borrower for the trailing 12 month period prior to the applicable calculation date and (ii) the denominator is the fixed rent for the trailing 12 month period immediately prior to the applicable calculation date. SUBSTITUTION: o The Borrower is permitted to substitute an individual BlueLinx Holdings Portfolio Mortgaged Property of the same type of collateral (warehouse or distribution center), subject to the satisfaction of certain conditions set forth in the BlueLinx Holdings Portfolio Loan documents, including, but not limited to (1) the aggregate of the substituted individual BlueLinx Holdings Portfolio Mortgaged Properties may not have an allocated loan amount that is greater than 30% of the original BlueLinx Holdings Portfolio Whole Loan amount and (2) the appraised value of the new property to be substituted is at least equal to the value of the BlueLinx Holdings Portfolio Mortgaged Property being substituted. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not Allowed. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 31 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- BLUELINX HOLDINGS PORTFOLIO - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 32 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MARRIOTT INDIANAPOLIS - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 33 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MARRIOTT INDIANAPOLIS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: Bank of America LOAN PURPOSE: Refinance ORIGINAL PRINCIPAL BALANCE: $101,780,000 FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 120/360 months INTEREST ONLY PERIOD: 60 months MATURITY DATE: July 1, 2016 EXPECTED MATURITY BALANCE: $ 95,356,329 BORROWING ENTITY: LHO Indianapolis Hotel One, LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 113 payments Open: 7 payments UP-FRONT RESERVES: TAX RESERVE: Yes ONGOING MONTHLY RESERVES: TAX RESERVE: Yes FUTURE MEZZANINE DEBT: Yes LOCKBOX: Soft - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $101,780,000 CUT-OFF DATE LTV: 70.0% MATURITY DATE LTV: 65.6% UNDERWRITTEN DSCR: 1.52x INTEREST ONLY DSCR: 1.80x MORTGAGE RATE: 5.992% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Hotel PROPERTY SUB-TYPE: Full Service LOCATION: Indianapolis, Indiana YEAR BUILT/RENOVATED: 2001/NAP NO. OF KEYS: 615 CUT-OFF BALANCE PER KEY: $165,496 OCCUPANCY AS OF MARCH 31, 2006: 72.5% OWNERSHIP INTEREST: Leasehold PROPERTY MANAGEMENT: White Lodging Services Corporation UNDERWRITTEN NET CASH FLOW: $11,120,001 APPRAISED VALUE: $145,400,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 34 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MARRIOTT INDIANAPOLIS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- FULL YEAR FULL YEAR TRAILING 12 (12/31/2004) (12/31/2005) (03/31/2006) UNDERWRITTEN ----------- ----------- ----------- ------------ Effective Gross Income ....... $41,038,191 $42,871,559 $42,990,802 $43,924,274 Total Expenses ............... $29,531,898 $30,307,812 $30,178,153 $31,047,302 Net Operating Income (NOI) ... $11,506,293 $12,563,747 $12,812,649 $12,876,971 Cash Flow (CF) ............... $10,275,147 $11,277,600 $11,421,339 $11,120,001 DSCR on NOI .................. 1.57x 1.72x 1.75x 1.76x DSCR on CF ................... 1.40x 1.54x 1.56x 1.52x - -------------------------------------------------------------------------------- OPERATIONAL STATISTICS - -------------------------------------------------------------------------------- 2003 2004 2005 UNDERWRITTEN ------- ------- ------- ------------ Average Daily Rate ........... $142.49 $147.60 $146.41 $151.96 Occupancy .................... 71.7% 71.2% 72.7% 72.5% RevPAR ....................... $102.17 $105.14 $106.48 $110.23 Penetration Rate(1)........... 126.6% 122.5% 123.5% NAP (1) RevPar Penetration Rate based on a December 31, 2005 Smith Travel Research Report. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 35 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MARRIOTT INDIANAPOLIS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The Marriott Indianapolis Mortgage Loan is a $101.78 million, ten-year fixed rate loan secured by a first mortgage on a full service Marriott hotel located in Indianapolis, Marion County, Indiana. The Marriott Indianapolis Loan is interest only for the first five years of the loan term, matures on July 1, 2016 and accrues interest at an annual rate of 5.992%. THE BORROWER: o The Marriott Indianapolis Borrower is LHO Indianapolis Hotel One, LLC, a Delaware limited liability company and a single purpose bankruptcy remote entity with at least one independent manager for which the Marriott Indianapolis Borrower's legal counsel has delivered a non-consolidation opinion. Equity ownership is held 1% by LHO Indianapolis Hotel One MM, LLC as the Managing Member and 99% by LaSalle Hotel Operating Partnership, L.P., the borrower principal. Equity ownership in LaSalle Hotel Operating Partnership, L.P. is held by LaSalle Hotel Properties. o LaSalle Hotel Properties, a real estate investment trust based in Bethesda, Maryland, engages in the purchase, ownership and lease of upscale and luxury hotels located in convention, resort and urban business markets in the United States. LaSalle Hotel Properties currently owns interests in 27 hotels containing a total of approximately 8,500 rooms located in 11 states and the District of Columbia. As of the fiscal year ended December 31, 2005, LaSalle Hotel Properties reported revenue of approximately $394.6 million, net income of $35.4 million and stockholder equity of $811.1 million. THE MORTGAGED PROPERTY: o The Marriott Indianapolis Mortgaged Property consists of a sub-leasehold interest in a 615-room full service Marriott hotel built in 2001. The 18-story improvements are situated on 2.30 acres. The room mix is 215 kings, 372 double/doubles and 28 suites. o Room furnishings include a fully-wired work station with a desk and chair, lounge chair, dresser, night tables and lamps. Room amenities include remote control cable television, two telephone lines and high-speed Internet access. The Marriott Indianapolis Mortgaged Property amenities include a business center, fitness center, meeting and banquet rooms containing 38,194 square feet, two full service restaurants and lounges, coffee shop, gift shop and newsstand, indoor pool and spa, laundry valet, laundry facilities and 24-hour room service. o The Marriott Indianapolis Mortgaged Property is located in downtown Indianapolis adjacent to the State Capitol Building. The Marriott Indianapolis Mortgaged Property is connected via a climate-controlled skywalk to the Indiana State Convention Center, the RCA Dome and the Circle Centre Mall. The Circle Centre Mall is anchored by Nordstrom and Parisian, and is home to more than 100 specialty shops and stores. o The Marriott Indianapolis Borrower is generally required at its sole cost and expense to keep the Marriott Indianapolis Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o White Lodging Services Corporation manages the Marriott Indianapolis Mortgaged Property. White Lodging Services Corporation, founded in 1985 and headquartered in Merrillville, Indiana, currently manages 108 hotels, of which 89 are Marriott family hotels, 26 are located in Indiana and nine are located in the Indianapolis area. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o A constituent party or parties of the Marriott Indianapolis Borrower (other than any such constituent party which is required to be a single purpose, bankruptcy remote entity) is permitted to incur mezzanine financing secured by a pledge of 100% of the direct or indirect equity ownership interest in the Marriott Indianapolis Borrower held by the mezzanine borrower provided the Marriott Indianapolis Borrower obtains the mortgagee's approval, which is at the mortgagee's sole discretion, and, if requested by the mortgagee, confirmation by the rating agencies. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 36 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MARRIOTT INDIANAPOLIS - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 37 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 38 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- SELLER: Bank of America LOAN PURPOSE: Refinance ORIGINAL PRINCIPAL BALANCE: $87,250,000 FIRST PAYMENT DATE: July 1, 2006 TERM/AMORTIZATION: 120/0 months INTEREST ONLY PERIOD: 120 months MATURITY DATE: June 1, 2016 EXPECTED MATURITY BALANCE: $87,250,000 BORROWING ENTITY: SM Mesa Mall, LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 113 payments Open: 7 payments FUTURE MEZZANINE DEBT: Yes LOCKBOX: Hard - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $87,250,000 CUT-OFF DATE LTV: 77.3% MATURITY DATE LTV: 77.3% UNDERWRITTEN DSCR: 1.33x MORTGAGE RATE: 5.794% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Retail PROPERTY SUB-TYPE: Anchored LOCATION: Grand Junction, Colorado YEAR BUILT/RENOVATED: 1979/2004 NET RENTABLE SQUARE FEET: 560,264 CUT-OFF BALANCE PSF: $156 OCCUPANCY AS OF JULY 24, 2006: 91.5% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: Macerich Management Company UNDERWRITTEN NET CASH FLOW: $6,817,261 APPRAISED VALUE: $112,800,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 39 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR FULL YEAR (12/31/2003) (12/31/2004) (12/31/2005) UNDERWRITTEN ------------ ------------ ------------ ------------ Effective Gross Income .............. $8,831,444 $9,417,243 $10,661,715 $10,569,821 Total Expenses ...................... $3,074,563 $3,133,330 $ 3,251,420 $ 3,384,700 Net Operating Income (NOI) .......... $5,756,881 $6,283,913 $ 7,410,295 $ 7,185,121 Cash Flow (CF) ...................... $5,756,881 $6,283,913 $ 7,410,295 $ 6,817,261 DSCR on NOI ......................... 1.12x 1.23x 1.45x 1.40x DSCR on CF .......................... 1.12x 1.23x 1.45x 1.33x TENANT INFORMATION(1) RATINGS TOTAL % OF RENT POTENTIAL % POTENTIAL LEASE TOP TENANTS MOODY'S/S&P TENANT SF TOTAL SF PSF RENT RENT EXPIRATION - ------------------------------------- ----------- --------- -------- ----- --------- ----------- ---------- Sears(2) ............................ Ba1/BB+ 88,556 15.8% $2.30 $204,003 3.2% 10/31/2030 Herberger's ......................... B2/B+ 72,279 12.9 $4.75 343,325 5.4 01/31/2007 Sutherlands Lumber Home Center ...... Not Rated 60,000 10.7 $2.60 156,000 2.5 04/30/2010 Gart Sports ......................... NR/B 34,599 6.2 $8.25 285,442 4.5 01/31/2007 ------- ---- -------- ---- TOTAL ............................... 255,434 45.6% $988,770 15.7% (1) Information obtained from underwritten rent roll except for Ratings (Moody's/S&P) and unless otherwise stated. Credit Ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to Rent PSF, Potential Rent, and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. (2) Includes 11,909 square feet of the Sears Service Center expiring on October 31, 2029. LEASE ROLLOVER SCHEDULE(1) # OF LEASES EXPIRING % OF TOTAL CUMULATIVE CUMULATIVE BASE RENT YEAR OF EXPIRATION EXPIRING SF SF TOTAL SF % OF TOTAL SF EXPIRING - -------------------- ----------- -------- ---------- ---------- ------------- ---------- 2006 ............... 2 2,492 0.4% 2,492 0.4% -- 2007 ............... 16 159,337 28.4 161,829 28.9% $1,439,248 2008 ............... 5 16,093 2.9 177,922 31.8% 320,340 2009 ............... 11 25,336 4.5 203,258 36.3% 609,444 2010 ............... 11 83,431 14.9 286,689 51.2% 626,270 2011 ............... 8 24,473 4.4 311,162 55.5% 657,707 2012 ............... 6 19,707 3.5 330,869 59.1% 343,749 2013 ............... 5 12,899 2.3 343,768 61.4% 285,889 2014 ............... 4 12,818 2.3 356,586 63.6% 219,104 2015 ............... 3 6,326 1.1 362,912 64.8% 189,742 2016 ............... 8 27,556 4.9 390,468 69.7% 438,046 2019 ............... 1 4,817 0.9 395,285 70.6% 87,996 2029 ............... 1 11,909 2.1 407,194 72.7% 25,495 2030 ............... 1 76,647 13.7 483,841 86.4% 178,508 MTM ................ 14 29,524 5.3 513,365 91.6% 118,522 Vacant ............. -- 46,899 8.4 560,264 100.0% 775,435 --- ------- ----- ---------- TOTAL .............. 96 560,264 100.0% $6,315,494 (1) Information obtained from underwritten rent roll. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 40 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS The four largest tenants, representing 45.6% of the total net rentable square feet, are: o SEARS (NASDAQ: "SHLD") (rated "Ba1" by Moody's and "BB+" by S&P) occupies a total of 88,556 square feet (15.8% of square feet, 3.2% of rental income) under two 50-year leases, of which one for 76,647 square feet (main store) expires on October 31, 2030 and one for 11,909 square feet (service center) expires on October 31, 2029. The current blended rental rate per square foot of $2.30 is constant during the initial lease terms. There are no options to renew the leases. Sears is also required to pay percentage rent equal to 2.5% of sales in excess of the annual rent multiplied by 40 and up to $9,000,000, 2.0% of sales in excess of $9,000,000 and up to $10,000,000 and 1.5% of sales in excess of $10,000,000 and up to $17,000,000. No percentage rent will be paid on any sales in excess of $17,000,000. Sears Holdings Corporation operates as a retailer in the United States and Canada. Sears operates full-line stores that offer an array of products, including home appliances, consumer electronics, tools, fitness, lawn and garden equipment, automotive services and products, such as tires and batteries, and home fashion products, as well as apparel, footwear, health, beauty, pantry, household products and toys. The Kmart segment operates stores that offer general merchandise, including products sold under labels, such as Jaclyn Smith, Joe Boxer and Martha Stewart Everyday, as well as in-store pharmacies. Sears operates approximately 3,900 full-line and specialty retail stores in the United States and Canada and employs approximately 355,000 people. As of the fiscal year ended January 28, 2006, Sears Holdings Corporation reported revenue of approximately $49.1 billion, net income of $858.0 million and stockholder equity of $11.6 billion. o HERBERGER'S (Bon-Ton Stores, NASDAQ: "BONT") (rated "B2" by Moody's and "B+" by S&P) occupies 72,279 square feet (12.9% of square feet, 5.4% of rental income) under a 16-year lease expiring on January 31, 2007. The current rental rate per square foot of $4.75 increases 5.5% every five lease years. There are four five-year options to renew the lease. Herberger's is also required to pay percentage rent equal to 2.5% of sales in excess of $11,444,000. Herberger's operates more than 40 department stores located throughout the Midwest. Herberger's offers an assortment of apparel and accessories for men, women, teens and children. Selections include both famous designers and the Herberger's own exclusive collections. Herberger's is an operating division of Bon-Ton Stores. Bon-Ton Stores operates 279 stores located in 23 states under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers brand names. Bon-Ton Stores employs approximately 33,500 people. As of the fiscal year ended January 28, 2006, Bon-Ton Stores reported revenue of approximately $1.3 billion, net income of $26.0 million and stockholder equity of $292.1 million. o SUTHERLANDS LUMBER AND HOME IMPROVEMENT CENTER (not rated) occupies 60,000 square feet (10.7% of square feet, 2.5% of rental income) under a five-year lease renewal period expiring on April 30, 2010. The current rental rate per square foot of $2.60 remains constant during the remaining lease period. There are two five-year options remaining to renew the lease with the rental rate increasing by approximately 9% for each renewal period. Sutherlands Lumber and Home Improvement Center is also required to pay percentage rent equal to 1.0% of sales in excess of $12,000,000. Sutherlands Lumber and Home Improvement Center operates approximately 60 home improvement stores located in 15 states. o GART SPORTS (not rated by Moody's and rated "B" by S&P) occupies 34,599 square feet (6.2% of square feet, 4.5% of rental income) under a ten-year lease expiring on January 31, 2007. The current rental rate per square foot of $8.25 is constant during the remaining lease term and during the two five-year option periods. Gart Sports is also required to pay percentage rent equal to 3.0% of sales in excess of $6,500,000. On August 4, 2003, Sports Authority and Gart Sports, the largest and second largest sporting goods retailers, merged to create the nation's largest full-line sporting goods chain. The combined company operates approximately 400 stores located in 45 states under the Sports Authority and Gart Sports brand names. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 41 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION THE LOAN: o The Mesa Mall Mortgage Loan is an $87.25 million, ten-year fixed rate loan secured by a first mortgage on a regional mall located in Grand Junction, Mesa County, Colorado. The Mesa Mall Mortgage Loan is interest only for the entire loan term, matures on June 1, 2016 and accrues interest at an annual rate of 5.794%. THE BORROWER: o The Mesa Mall Borrower is SM Mesa Mall, LLC, a Delaware limited liability company and a single purpose bankruptcy remote entity with at least two independent managers for which the Mesa Mall Borrower's legal counsel has delivered a non-consolidation opinion. Equity ownership is held 100% by SDG Macerich Properties, L.P., a Delaware limited partnership. Through a series of intermediate ownership levels, equity ownership is eventually held 50% each by Simon Property Group, L.P. and The Macerich Partnership. o Simon Property Group, Inc. ("Simon") (NYSE: "SPG") (rated "BBB+" by Fitch and "A-" by S&P), the largest publicly traded real estate investment trust in North America, is engaged in the ownership, operation, leasing, management, acquisition, expansion and development of real estate properties, primarily regional malls, outlet centers and community shopping centers. Simon owns or holds an interest in 296 properties consisting of 172 regional malls, 30 outlet centers, 71 community shopping centers and 23 other properties containing a total of approximately 200 million square feet located in 39 states and Puerto Rico. Simon also has interests in 12 parcels of land held in the United States for future development, 51 European shopping centers located in France, Italy, Poland and Portugal, four outlet centers located in Japan, one outlet center located in Mexico and one community shopping center located in Canada. Simon provides leasing, management and development services to its properties. Simon employs approximately 3,000 people. As of the fiscal year ended December 31, 2005, Simon reported revenue of approximately $3.2 billion, net income of $475.7 million and stockholder equity of $4.3 billion. o The Macerich Company ("Macerich") (NYSE: "MAC") (not rated) is a real estate investment trust engaged in the acquisition, ownership, development, redevelopment, management and leasing of regional malls and community shopping centers. Macerich owns or holds an interest in 98 properties consisting of 76 regional malls, 20 community shopping centers and two development/redevelopment projects containing a total of approximately 80 million square feet located throughout the United States. Macerich employs approximately 4,500 people. As of the fiscal year ended December 31, 2005, Macerich reported revenue of approximately $767.4 million, net income of $71.7 million and stockholder equity of $827.1 million. THE MORTGAGED PROPERTY: o The Mesa Mall Mortgaged Property consists of a fee simple interest in a regional mall built in 1979 and most recently renovated in 2004. The collateral improvements consist of the Sears, Herberger's and Sutherlands anchor tenant buildings and approximately 100 in-line mall stores containing a total of 560,264 gross leasable square feet situated on 62.01 acres. Tenants over 8,000 square feet are Gart Sports, Colorado West Cinemas, Jo-Ann Fabrics, The Gap Outlet and High Desert Martial Arts. The additional tenants together occupy 51.9% of the total square feet and contribute 25.8% of the gross potential rental income. Target (116,950 square feet), JC Penney (100,332 square feet) and Mervyn's (75,000 square feet) are not part of the collateral. Including Target, JC Penney and Mervyn's, there is a total of 852,546 square feet in the Mesa Mall. o The Mesa Mall Mortgaged Property is the only enclosed mall between Denver and Salt Lake City. o The Mesa Mall Borrower is generally required at its sole cost and expense to keep the Mesa Mall Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o Macerich Management Company manages the Mesa Mall Mortgaged Property. Macerich Management Company, founded in 1965 and headquartered in Santa Monica, California, currently manages 76 regional malls containing approximately 80 million square feet. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 42 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- COLLATERAL RELEASES AND SUBSTITUTION: o The Mesa Mall Borrower is permitted to, on a one-time basis, obtain a release of the lien of the mortgage encumbering the related Mortgaged Property ("Release Property") by substituting therefor another retail property of like kind and quality acquired by the Mesa Mall Borrower (the "Substitute Property") upon the satisfaction of the following terms and conditions including, without limitation: (a) the related sponsor or an affiliate controls the Mesa Mall Borrower; (b) no event of default exists (other than an event of default which would be cured by the substitution of the Substitute Property); (c) receipt by the mortgagee of a FIRREA appraisal of the Substitute Property dated no more than 180 days prior to the substitution by a national appraisal firm, indicating that the fair market value of the Substitute Property is not less than one hundred ten percent of the greater of (i) the appraised value of the Release Property and (ii) the fair market value of the Release Property as of the date immediately preceding the substitution; (d) the net operating income for the Substitute Property for the four calendar quarters preceding the date of the substitution (in the aggregate) is greater than 115% of the net operating income for the Release Property for the four calendar quarters preceding the date of the substitution (in the aggregate); and (e) the mortgagee will receive confirmation from the rating agencies that such substitution will not result in a downgrade, withdrawal or qualification of any ratings issued, or to be issued, in connection with a securitization involving the Mesa Mall Mortgage Loan. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o The Mesa Mall Borrower is permitted to incur indebtedness upon satisfaction of the following terms and conditions, including without limitation: (a) no event of default has occurred and is continuing; (b) a permitted mezzanine lender originates such mezzanine financing; (c) the mezzanine lender will have executed an intercreditor agreement in form and substance reasonably acceptable to the mortgagee; (d) the amount of such mezzanine loan will not exceed an amount which, when added to the outstanding principal balance of the Mesa Mall Mortgage Loan, results in a maximum loan-to-value ratio greater than 80% and a minimum debt service coverage ratio less than 1.25x; and (e) the mortgagee will have received confirmation from the rating agencies that such mezzanine financing will not result in a downgrade, withdrawal or qualification of the ratings issued, or to be issued, in connection with a securitization involving the Mesa Mall Mortgage Loan. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 43 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- MESA MALL - -------------------------------------------------------------------------------- [MAP OMITTED] - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 44 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 45 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: Bank of America LOAN PURPOSE: Acquisition ORIGINAL PRINCIPAL BALANCE: $86,000,000 FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 84/0 months INTEREST ONLY PERIOD: 84 months MATURITY DATE: July 1, 2013 EXPECTED MATURITY BALANCE: $86,000,000 BORROWING ENTITY: See footnote (1) INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout: 18 payments GRTR 1% PPMT or Yield Maintenance: 59 payments Open: 7 payments LOCKBOX: Soft - -------------------------------------------------------------------------------- (1) DDR MDT Flatacres Marketcenter LLC; DDR MDT Frisco Marketplace LP; DDR MDT Marketplace at Towne Center LP; DDR MDT McKinney Marketplace LP; DDR MDT Overland Pointe Martketplace LLC; DDR MDT Shops at Turner Hill LLC; DDR MDT Turner Hill Martketplace LLC - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $86,000,000 CUT-OFF DATE LTV: 69.9% MATURITY DATE LTV: 69.9% UNDERWRITTEN DSCR: 1.44x MORTGAGE RATE: 6.004% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Retail PROPERTY SUB-TYPE: Anchored/Unanchored LOCATIONS: Texas, Colorado, Georgia, Kansas YEAR BUILT/RENOVATED: 2000-2004/NAP NET RENTABLE SQUARE FEET: 785,156 CUT-OFF BALANCE PSF: $110 OCCUPANCY AS OF APRIL 4, 2006(1): 100.0% OWNERSHIP INTEREST: Fee/Leasehold PROPERTY MANAGEMENT: Developers Diversified Realty Corporation UNDERWRITTEN NET CASH FLOW: $7,528,865 APPRAISED VALUE: $123,000,000 - -------------------------------------------------------------------------------- (1) Developers Diversified Realty Corporation (rated "Baa2" by Moody's and "BBB" by S&P) has entered into a Master Lease for 59,753 square feet expiring May 31, 2009. As of April 4, 2006, the DDR Macquarie Portfolio Mortgage Loan is 100.0% leased and 92.4% occupied. INDIVIDUAL PROPERTY INFORMATION YEAR BUILT/ SQUARE CUT-OFF DATE CUT-OFF DATE APPRAISED APPRAISED LOCATIONS CITY STATE RENOVATED FEET BALANCE BALANCE/SF VALUE VALUE/SF - ------------------------------- ------------- ----- ----------- ------- ------------ ------------ ------------ --------- FlatAcres Market Center ....... Parker CO 2003/NAP 132,999 $17,514,690 $131.69 $ 25,000,000 $187.97 Frisco Marketplace ............ Frisco TX 2002/NAP 107,543 7,138,340 66.38 10,400,000 96.71 Marketplace at Town Center .... Mesquite TX 2002/NAP 178,925 23,612,241 131.97 33,700,000 188.35 McKinney Marketplace .......... McKinney TX 2000/NAP 118,967 13,165,804 110.67 18,800,000 158.03 Overland Pointe Marketplace ... Overland Park KS 2002/NAP 83,047 8,540,076 102.83 12,200,000 146.90 Shoppes at Turner Hill ........ Lithonia GA 2004/NAP 38,700 6,230,716 161.00 8,900,000 229.97 Turner Hill Marketplace ....... Lithonia GA 2002/NAP 124,975 9,798,134 78.40 14,000,000 112.02 ------- ----------- ------- ------------ ------- TOTAL/WTD. AVG. ............... 785,156 $86,000,000 $109.53 $123,000,000 $156.66 ======= =========== ======= ============ ======= The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 46 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR ANNUALIZED YTD (12/31/2004) (12/31/2005) (04/30/2006) UNDERWRITTEN ------------ ------------ -------------- ------------ Effective Gross Income ............. $8,777,428 $9,907,914 $11,179,149 $11,920,571 Total Expenses ..................... $2,891,986 $3,610,412 $ 3,769,998 $ 3,996,404 Net Operating Income (NOI) ......... $5,885,442 $6,297,502 $ 7,409,151 $ 7,924,167 Cash Flow (CF) ..................... $5,885,442 $6,297,502 $ 7,409,151 $ 7,528,865 DSCR on NOI ........................ 1.12x 1.20x 1.42x 1.51x DSCR on CF ......................... 1.12x 1.20x 1.42x 1.44x TENANT INFORMATION(1) RATINGS TOTAL % OF RENT POTENTIAL % POTENTIAL LEASE TOP TENANTS MOODY'S/S&P TENANT SF TOTAL SF PSF RENT RENT EXPIRATION - ------------------------------ ----------- --------- -------- ------ ---------- ----------- ---------- Kohl's ....................... A3/BBB+ 173,426 22.1% $ 6.12 $1,061,973 11.9% 01/31/2021(2) DDR Master Lease ............. Baa2/BBB 59,753 7.6% $12.47 744,961 8.3% 05/31/2009 Toys R Us .................... Caa2/B- 50,000 6.4% $ 3.20 160,000 1.8% 01/31/2012 Bed, Bath & Beyond ........... NR/BBB 48,006 6.1% $10.44 501,072 5.6% 01/31/2013(3) Best Buy ..................... NR/BBB 45,775 5.8% $10.81 495,002 5.5% 01/31/2018 ------- ---- ---------- ---- TOTAL ........................ 376,960 48.0% $2,963,008 33.1% ======= ==== ========== ==== (1) Information obtained from underwritten rent roll except for Ratings (Moody's/S&P) and unless otherwise stated. Credit Ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to Rent PSF, Potential Rent, and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. (2) 86,584 square feet of the Kohl's space expires on January 1, 2023. (3) 23,006 square feet of the Bed, Bath & Beyond space expires on January 31, 2014. LEASE ROLLOVER SCHEDULE(1) # OF LEASES EXPIRING % OF CUMULATIVE CUMULATIVE BASE RENT YEAR OF EXPIRATION EXPIRING SF TOTAL SF TOTAL SF % OF TOTAL SF EXPIRING - ------------------- ----------- -------- -------- ---------- ------------- ---------- 2005 .............. 1 1,400 0.2% 1,400 0.2% $ 29,932 2006 .............. 3 7,625 1.0 9,025 1.1% 86,410 2007 .............. 10 19,750 2.5 28,775 3.7% 368,174 2008 .............. 19 39,134 5.0 67,909 8.6% 770,299 2009 .............. 25 90,460 11.5 158,369 20.2% 1,386,638 2010 .............. 10 20,902 2.7 179,271 22.8% 396,890 2011 .............. 8 14,705 1.9 193,976 24.7% 252,339 2012 .............. 3 80,015 10.2 273,991 34.9% 519,416 2013 .............. 6 119,146 15.2 393,137 50.1% 1,286,173 2014 .............. 5 77,789 9.9 470,926 60.0% 1,046,979 2015 .............. 4 55,854 7.1 526,780 67.1% 501,438 2016 .............. 2 19,725 2.5 546,505 69.6% 315,881 2017 .............. 1 5,350 0.7 551,855 70.3% 102,506 2018 .............. 1 45,775 5.8 597,630 76.1% 495,002 2021 .............. 1 86,842 11.1 684,472 87.2% 735,552 2023 .............. 1 86,584 11.0 771,056 98.2% 326,422 2024 .............. 1 7,000 0.9 778,056 99.1% 125,020 2025 .............. 1 3,300 0.4 781,356 99.5% 95,007 2049 .............. 1 3,800 0.5 785,156 100.0% 100,016 --- ------- ----- ---------- TOTAL ............. 103 785,156 100.0% $8,940,093 === ======= ===== ========== (1) Information obtained from underwritten rent roll. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 47 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS - -------------------------------------------------------------------------------- The five largest tenants in the portfolio, representing 48.0% of the total net rentable square feet, are: o KOHL'S (NYSE: "KSS") (rated "A3" by Moody's and "BBB+" by S&P) occupies a total of 173,426 square feet (22.1% of square feet, 11.9% of rental income) under two 21-year leases, of which one for 86,842 square feet (McKinney Marketplace) expires on January 31, 2021 and one for 86,584 square feet (Frisco Marketplace) expires on January 1, 2023. The rental rates are constant during the initial lease terms. There are six five-year options to renew both leases with the rental rates increasing 10% for each option period. Kohl's is also required to pay percentage rent at McKinney Marketplace equal to 1% of sales in excess of the annual rental. Kohl's operates specialty department stores that sell apparel, footwear, accessories and beauty products for women, men and children, as well as soft home products, such as towels, sheets and pillows, and housewares. Kohl's operates 741 stores located in 41 states. As of the fiscal year ended January 28, 2006, Kohl's reported revenue of approximately $13.4 billion, net income of $842.0 million and stockholder equity of $6.0 billion. o DEVELOPERS DIVERSIFIED REALTY CORPORATION (NYSE: "DDR") (rated "Baa2" by Moody's and "BBB" by S&P) has entered into a Master Lease for 59,753 square feet (7.6% of square feet, 8.3% of rental income) at the subject properties on eleven three-year leases expiring on May 31, 2009. Developers Diversified Realty Corporation, a publicly traded real estate investment trust, is the largest owner, operator and developer of shopping centers in the United States and currently owns and manages approximately 500 shopping centers with over 113 million square feet in 44 states and Puerto Rico. As of December 31, 2005, Developers Diversified Realty Corporation reported revenue of approximately $727.2 million, net income of $282.6 million and stockholder equity of $2.6 billion. o TOYS R US (rated "Caa2" by Moody's and "B-" by S&P) occupies 50,000 square feet (6.4% of square feet, 1.8% of rental income) under a ten-year lease at Turner Hill Marketplace expiring on January 31, 2012. The rental rate is constant during the initial lease term. There are eight five-year options to renew the lease with the rental rate increasing 10% for each option period. Toys R Us is a specialty retailer of toys, children's apparel and baby products. Toys R Us operates 1,469 stores, of which 587 are Toys R Us stores and 232 are Babies R Us stores located in the United States, and 650 are stores located internationally. Toys R Us was purchased in July 2005 for approximately $6.6 billion by an investment group consisting of affiliates of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust. o BED, BATH & BEYOND (NASDAQ: "BBBY") (not rated' by Moody's and rated "BBB" by S&P) occupies a total of 48,006 square feet (6.1% of square feet, 5.6% of rental income) under two ten-year leases, of which one for 25,000 square feet (Turner Hill Marketplace) expires on January 31, 2013 and one for 23,006 square feet (FlatAcres Marketcenter) expires on January 31, 2014. The rental rates are constant during the initial lease terms. There are four five-year options to renew both leases with the rental rates increasing $1.00 per square foot for each option period. Bed, Bath & Beyond is also required to pay percentage rent at Turner Hill Marketplace equal to 3.75% of sales in excess of $5,000,000 and 3.00% of sales from $6,000,000 to $7,000,000. Bed, Bath & Beyond sells an assortment of domestic merchandise, such as bed linens and related items, bath items, kitchen textiles, home furnishings, including kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, as well as food, giftware, and health and beauty care items. Bed, Bath & Beyond operates 809 stores consisting of 742 Bed, Bath & Beyond stores located in 46 states, the District of Columbia and Puerto Rico, 29 Christmas Tree Shops stores located in eight states and 38 Harmon stores located in three states. As of the fiscal year ended February 25, 2006, Bed, Bath & Beyond reported revenue of approximately $5.8 billion, net income of $572.8 million and stockholder equity of $2.3 billion. o BEST BUY (NYSE: "BBY") (not rated by Moody's and rated "BBB" by S&P) occupies 45,775 square feet (5.8% of square feet, 5.5% of rental income) under a 16-year lease at Turner Hill Marketplace expiring on January 31, 2018. The current rental rate of $10.81 increases to $11.50 in lease years six to ten and $12.25 for the remainder of the initial lease term. There are three five-year options to renew the lease with the rental rate increasing $1.00 for each option period. Best Buy operates as a specialty retailer of consumer electronics, home-office products, entertainment software, appliances and related services. The company operates retail stores under the Best Buy, Future Shop, Magnolia Audio Video and Geek Squad brand names. Best Buy sells televisions, digital cameras, DVD players, digital camcorders, digital broadcast satellite systems, audio products, including MP3 players, home theater audio systems, mobile electronics and accessories, home-office products comprising desktop and notebook computers, telephones, networking and accessories, entertainment software products, including DVDs, video game hardware and software, compact discs, computer software and subscriptions, and appliances. Best Buy also provides computer set-up, repair and installation of mobile electronics services, as well as delivery and installation of appliances and home theater systems. Best Buy operates approximately 930 retail stores in the United States and Canada. As of the fiscal year ended February 25, 2006, Best Buy reported revenue of approximately $30.8 billion, net income of $1.1 billion and stockholder equity of $5.3 billion. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 48 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The DDR Macquarie Portfolio Mortgage Loan is an $86.0 million, seven-year fixed rate loan secured by a first mortgage on a portfolio of seven retail centers located in four states. The DDR Macquarie Portfolio Mortgage Loan is interest only for the entire loan term, matures on July 1, 2013 and accrues interest at an annual rate of 6.004%. THE BORROWER: o The DDR Macquarie Portfolio Borrowers are DDR MDT McKinney Marketplace LP, DDR MDT Marketplace at Towne Center LP and DDR MDT Frisco Marketplace LP, each a Delaware limited partnership, and DDR MDT Shops at Turner Hill LLC, DDR MDT Turner Hill Marketplace LLC, DDR MDT FlatAcres Marketcenter LLC and DDR MDT Overland Pointe Marketplace LLC, each a Delaware limited liability company, (individually and collectively, the "DDR Macquarie Portfolio Borrower"). The DDR Macquarie Portfolio Borrowers are each single purpose bankruptcy remote entities with at least two independent directors for which each DDR Macquarie Portfolio Borrower's legal counsel has delivered a non-consolidation opinion. o Equity ownership in each DDR Macquarie Portfolio Borrower is held 100% by DDR MDT Venice Holdings LLC ("MDT"), a Delaware limited liability company and the borrower sponsor. o MDT is a joint venture between Developers Diversified Realty Corporation ("DDR") and Macquarie Bank Limited. MDT is a listed property trust publicly traded on the Australian Stock Exchange. MDT, formed out of an initial public offering in November 2003 with the acquisition of 11 retail centers from DDR, is focused on the ownership of retail centers located in the United States. MDT currently owns 71 properties valued at approximately $2.6 billion. o Developers Diversified Realty Corporation (NYSE: "DDR") (rated "Baa2" by Moody's and "BBB" by S&P) operates as a real estate investment trust. DDR engages in acquiring, developing, redeveloping, owning, leasing and managing shopping centers. The company owns or manages approximately 470 retail properties located in 44 states and Puerto Rico. As of the fiscal year ended December 31, 2005, DDR reported revenue of approximately $727.2 million, net income of $282.6 million and stockholder equity of $2.6 billion. o Macquarie Bank Limited (rated "A2" by Moody's and "A" by S&P), an Australian bank listed on the Australian Stock Exchange, provides investment, advisory and financial services in select markets around the world. Macquarie Bank Limited has over 450 people located in 16 United States offices and an international network of over 8,600 people located in 24 countries. THE MORTGAGED PROPERTIES: o The DDR Macquarie Portfolio Mortgaged Property consists of a fee simple and/or leasehold interest in a portfolio of seven retail centers located in four states. o MARKETPLACE AT TOWN CENTER is an anchored retail center located in Mesquite, Dallas County, Texas. Built in 2002, the improvements consist of six one-story buildings containing a total of 178,925 net rentable square feet situated on 20.48 acres. DDR Macquarie Portfolio Mortgaged Property is anchored by Linens 'N Things, Michael's, Pier I Imports and Ross Dress for Less, and shadow anchored by Home Depot, Kohl's and Cavenders Boots. The DDR Macquarie Portfolio Mortgaged Property is located approximately ten miles east of downtown Dallas. o FLATACRES MARKETCENTER is an anchored retail center located in Parker, Douglas County, Colorado. Built in 2003, the improvements consist of three one-story buildings containing a total of 132,999 net rentable square feet situated on 17.51 acres of leasehold land. The 60-year ground lease expires in 2062 with one 30-year option to renew. The property is anchored by Gart Sports, Bed, Bath & Beyond and Michael's, and shadow anchored by Kohl's. The DDR Macquarie Portfolio Mortgaged Property is located approximately 20 miles southeast of downtown Denver. o OVERLAND POINTE MARKETPLACE is an anchored retail center located in Overland Park, Johnson County, Kansas. Built in 2002, the improvements consist of two one-story buildings containing a total of 83,047 net rentable square feet situated on 8.54 acres. The property is anchored by Babies R Us and Golf Galaxy, and shadow anchored by Sam's Club and Home Depot. The property is located approximately 13 miles south of downtown Kansas City. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 49 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- o TURNER HILL MARKETPLACE is an anchored retail center located in Lithonia, DeKalb County, Georgia. Built in 2000 to 2004, the improvements consist of a one-story building containing 124,975 net rentable square feet situated on 14.72 acres. The DDR Macquarie Portfolio Mortgaged Property is anchored by Toys R Us, Best Buy, and Bed, Bath & Beyond, and shadow anchored by Sam's Club. The DDR Macquarie Portfolio Mortgaged Property is located approximately 20 miles east of downtown Atlanta. o MCKINNEY MARKETPLACE is an anchored retail center located in McKinney, Collin County, Texas. Built in 2000, the improvements consist of a one-story building containing 118,967 net rentable square feet situated on 12.00 acres. The property is anchored by Kohl's and shadow anchored by Albertsons. The DDR Macquarie Portfolio Mortgaged Property is located approximately 30 miles north of downtown Dallas. o FRISCO MARKETPLACE is an anchored retail center located in Frisco, Collin County, Texas. Built in 2003, the improvements consist of a one-story building containing 107,543 net rentable square feet situated on 12.10 acres. The DDR Macquarie Portfolio Mortgaged Property is anchored by Kohl's. The property is located approximately 25 miles north of downtown Dallas. o SHOPPES AT TURNER HILL is an unanchored retail center located in Lithonia, DeKalb County, Georgia. Built in 2004, the improvements consist of a one-story building containing 38,700 net rentable square feet situated on 14.09 acres. The largest tenant is Panera Bread. The DDR Macquarie Portfolio Mortgaged Property is located approximately 20 miles east of downtown Atlanta. o The DDR Macquarie Portfolio Borrower is generally required at its sole cost and expense to keep the DDR Macquarie Portfolio Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o Developers Diversified Realty Corporation self manages the DDR Macquarie Portfolio Mortgaged Property. COLLATERAL RELEASES AND SUBSTITUTION: o On any scheduled payment date following January 1, 2008, the DDR Macquarie Portfolio Borrower is permitted to voluntarily prepay a portion of the DDR Macquarie Portfolio Mortgage Loan and obtain a release of any individual Mortgaged Property (a "Property Release") from the lien of the DDR Macquarie Portfolio Mortgage Loan upon the satisfaction of the following terms and conditions including, without limitation: (a) no event of default has occurred and is continuing; (b) payment to the mortgagee of an amount equal to 110% of the allocated loan amount for such Mortgaged Property if such release is in connection with a sale to an unaffiliated third party or 115% of the allocated loan amount for such Mortgaged Property if such release is in connection with a sale to an entity affiliated with the DDR Macquarie Portfolio Borrower; (c) the mortgagee will receive confirmation from the rating agencies that such release will not result in a downgrade, withdrawal or qualification of any ratings issued, or to be issued, in connection with a securitization involving the DDR Macquarie Portfolio Mortgage Loan; (d) the debt service coverage ratio with respect to the remaining Mortgaged Properties immediately prior to the release, after giving effect to the proposed release of such Mortgaged Property, will equal or exceed the debt service coverage ratio immediately prior to the proposed Property Release; (e) in no event will more than three individual Mortgaged Properties (in the aggregate of all Property Releases) be subject to a Property Release; and (f) in no event will the aggregate allocated loan amount of all Mortgaged Properties released exceed 50% of the original principal balance of the DDR Macquarie Portfolio Mortgage Loan. o At any time, the DDR Macquarie Portfolio Borrower is permitted to substitute for any individual Mortgaged Property (a "Property Substitution") similar real estate collateral of like kind and quality (the "Substitute Property") upon the satisfaction of the following terms and conditions including, without limitation: (a) no event of default has occurred and is continuing; (b) the Property Substitution would not (1) be a "significant modification" of the DDR Macquarie Portfolio Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2b or (2) cause the DDR Macquarie Portfolio Mortgage Loan to cease to be a "qualified mortgage" within the meaning of Section 860G(a)(3) of the Internal Revenue Code; (c) the mortgagee will receive confirmation from the rating agencies that such substitution will not result in a downgrade, withdrawal or qualification of any ratings issued, or to be issued, in connection with a securitization involving the DDR Macquarie Portfolio Mortgage Loan; (d) the appraised value of the Substitute Property will not be less than the greater of (1) the appraised value of the Mortgaged Property subject to the Property Substitution or (2) the appraised value of such Mortgaged Property preceding the date of the substitution; (e) the debt service coverage ratio (after - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 50 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- giving effect to the Property Substitution) will equal or exceed the debt service coverage ratio immediately prior to the Property Substitution; and (f) in no event will more than two individual Mortgaged Properties (in the aggregate of all Property Substitution) be subject to a Property Substitution and will not exceed 25% of the original principal balance of the DDR Macquarie Portfolio Mortgage Loan provided, however, that a third individual Mortgaged Property may be substituted if the aggregate allocated loan amount of all Mortgaged Properties released does not exceed 50% of the original principal balance of the DDR Macquarie Portfolio Mortgage Loan. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not Allowed. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 51 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- DDR MACQUARIE PORTFOLIO - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 52 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 53 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GACC LOAN PURPOSE: Refinance ORIGINAL A-1 NOTE PRINCIPAL $86,000,000 BALANCE(1): FIRST PAYMENT DATE: July 1, 2006 TERM/AMORTIZATION: 120/0 months INTEREST ONLY PERIOD: 120 months MATURITY DATE: June 1, 2016 EXPECTED MATURITY BALANCE(1): $86,000,000 BORROWING ENTITY: GB/JT Hotel Partners, L.P. INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 113 payments Open: 7 payments UP-FRONT RESERVES: TAX RESERVE: Yes ONGOING MONTHLY RESERVES: TAX RESERVE: Yes LOW DSCR RESERVE: Springing(2) LOCKBOX: Soft - -------------------------------------------------------------------------------- (1) The Cut-off Date Balance of the Ritz-Carlton Key Biscayne Loan is $172,000,000 (the "Ritz-Carlton Key Biscayne Whole Loan") and consists of two pari passu notes, the A-1 Note, which will be deposited into the Trust (the "Ritz-Carlton Key Biscayne Loan"), and the A-2 Note, which will not be a part of the Trust (the "Ritz-Carlton Key Biscayne Companion Loan"). (2) See "Low DSCR Reserve" section below. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- WHOLE LOAN CUT-OFF DATE BALANCE: $172,000,000 NOTE A-1 CUT-OFF DATE BALANCE: $86,000,000 COMPANION LOAN CUT-OFF DATE BALANCE: $86,000,000 CUT-OFF DATE LTV(1): 76.8 % MATURITY DATE LTV(1): 76.8 % UNDERWRITTEN DSCR(1): 1.34 x MORTGAGE RATE: 6.342% - -------------------------------------------------------------------------------- (1) Unless otherwise specified, all DSCR, LTV and other calculations with respect to the Ritz-Carlton Key Biscayne Loan are based on the Ritz-Carlton Key Biscayne Whole Loan. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Hotel PROPERTY SUB-TYPE: Full Service LOCATION: Key Biscayne, Florida YEAR BUILT/RENOVATED: 2001/NAP NO. OF KEYS(1): 402 CUT-OFF BALANCE PER KEY: $427,861 OCCUPANCY AS OF JUNE 30, 2006: 74.1% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: The Ritz-Carlton Hotel Company, L.L.C. UNDERWRITTEN NET CASH FLOW(2): $ 14,791,729 APPRAISED VALUE: $224,000,000 - -------------------------------------------------------------------------------- (1) The Ritz-Carlton Key Biscayne Mortgaged Property consists of 302 hotel rooms and 188 residential condominium units owned by third parties. The appraiser, CB Richard Ellis ("CBRE") has determined that, on average, 100 of the 188 condominium units are available hotel room inventory on a nightly basis. Consequently, there are 402 keys that contribute to the cash flow for the Ritz-Carlton Key Biscayne Loan. (2) The Underwritten Net Cash Flow includes an approximate $920,105 business interruption insurance claim, the majority of which is based upon losses incurred in connection with hurricane damage that occured in the Fall of 2005. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 54 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR TTM (12/31/2004) (12/31/2005) (06/30/2006) UNDERWRITTEN ------------ ------------ ------------ ------------ Effective Gross Income ........ $ 60,528,445 $ 66,972,958 $ 71,006,656 $ 73,655,582 Total Expenses ................ $ 49,305,163 $ 54,277,350 $ 56,304,853 $ 56,837,735 Net Operating Income (NOI)(1) . $ 11,223,282 $ 13,615,713 $ 15,621,908 $ 17,737,952 Cash Flow (CF)(1) ............. $ 9,169,988 $ 10,936,769 $ 12,781,774 $ 14,791,729 DSCR on NOI ................... 1.01x 1.23x 1.41x 1.60x DSCR on CF .................... 0.83x 0.99x 1.16x 1.34x (1) The U/W Net Cash Flow, TTM (June 30, 2006) and Full Year (December 31, 2005) include an approximate $920,105 business interruption insurance claim, the majority of which is based upon losses incurred in connection with hurricane damage that occured in the Fall of 2005. OPERATIONAL STATISTICS TTM 2004 2005 06/2006 UNDERWRITTEN ------- ------- ------- ------------ Average Daily Rate (ADR) ...... $319.69 $329.92 $347.14 $353.22 Occupancy ..................... 67.8% 73.5% 74.1% 75.5% RevPAR(1) ..................... $216.72 $242.37 $257.09 $266.68 Penetration Rate .............. 118.8% 125.4% 125.9% 130.6% (1) RevPAR Penetration Rate is based on December 2005 and June 2006 Smith Travel Research reports. The appraiser, CB Richard Ellis ("CBRE"), provided a 10-year discounted cash flow analysis projection beginning as of April 2006. A summary of that projection is provided below: APPRAISAL DISCOUNTED CASH FLOW ANALYSIS INFORMATION(1) FULL YEAR FULL YEAR FULL YEAR FULL YEAR (2006) (2010) (2012) (2015) ----------- ----------- ----------- ------------ Effective Gross Income ........ $76,648,432 $92,699,500 $98,343,320 $107,464,377 Total Expenses ................ $59,286,375 $69,856,125 $74,099,880 $ 80,958,546 Net Operating Income (NOI) .... $17,362,057 $22,843,375 $24,243,441 $ 26,505,830 DSCR on NOI ................... 1.57x 2.07x 2.19x 2.40x (1) All information is from the CBRE appraisal, beginning as of April 2006. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 55 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The Ritz-Carlton Key Biscayne Loan is evidenced by a $86,000,000 pari passu A-1 Note, dated as of August 1, 2006. The Ritz-Carlton Key Biscayne Loan is a ten-year fixed rate loan secured by a first priority mortgage on the fee simple interest in a full service Ritz-Carlton resort hotel located in Key Biscayne, Miami-Dade County, Florida. The Ritz-Carlton Key Biscayne Loan is the $86,000,000 A-1 Note of the $172,000,000 Ritz-Carlton Key Biscayne Whole Loan. The pari passu Ritz-Carlton Key Biscayne Companion Loan is not a part of the trust and is expected to be contributed to a future securitization. The Ritz-Carlton Key Biscayne Loan is interest-only, matures on June 1, 2016, and accrues interest at an annual rate of 6.342%. o The Ritz-Carlton Key Biscayne Loan and the Ritz-Carlton Key Biscayne Companion Loan are governed by an intercreditor agreement and will be serviced pursuant to the pooling and servicing agreement, as described under "Servicing of the Mortgage Loans" in the prospectus supplement. THE BORROWER AND SPONSORS: o The Ritz-Carlton Key Biscayne borrower, GB/JT Hotel Partners, L.P., a Delaware limited partnership, is a single-purpose bankruptcy- remote entity with two independent directors for which a non-consolidation opinion was delivered at closing. Equity ownership is held by a partnership consisting of affiliates of Jamestown Properties Corporation, The Gencom Group and The TCC Companies. o Jamestown Properties Corporation ("Jamestown") is a real estate investment general partnership formed in 1983 for the purpose of investing in high quality income-producing United States commercial real estate. In 26 partnerships, Jamestown and its affiliates have acquired over $6 billion of assets. In addition to the Ritz-Carlton Key Biscayne, Jamestown currently owns all or a portion of certain New York assets including the General Motors Building, One Times Square, 589 Fifth Avenue, 1211 Sixth Avenue, 1290 Sixth Avenue, 620 6th Avenue, 111 Eighth Avenue, and Chelsea Market. Jamestown also owns all or a portion of 125 High Street and One Federal Street in Boston, Massachusetts, 4501 N. Fairfax in Arlington, Virginia and 400 Post Street in San Francisco, California. In Atlanta, Georgia and Cologne, Germany, Jamestown employs over 90 individuals who specialize in acquisitions, asset and property management, accounting, taxes, marketing and sales. Jamestown is a repeat sponsor of a Deutsche Bank borrower. o The Gencom Group ("Gencom") is a private Miami-based hospitality investment firm led by Karim Jamal Alibhai. Gencom has significant expertise and experience in the hospitality industry, having focused its activities primarily on the acquisition, ownership, development, leasing and management of hotel properties throughout the United States, Canada and Mexico. Gencom has invested in more than 100 hotel transactions over the past 17 years with average returns in excess of two times invested capital. Gencom is one of the world's largest owners of Ritz-Carlton flagged properties. o The TCC Companies ("TCC") is an experienced Miami-based hotel and gaming development and management firm, having developed and operated properties throughout the United States, the Bahamas, the Caribbean, Mexico and South America. Founded by partners Sherwood M. Weiser and Donald E. Lefton, TCC began its operations in 1970. Beginning with one hotel on Miami Beach, TCC's portfolio has grown to 82 hotels and casinos in 35 states and seven countries with over 17,000 rooms under management and more than $2 billion in total assets. THE MORTGAGED PROPERTY: o The Ritz-Carlton Key Biscayne Mortgaged Property, a 14-story full service Ritz-Carlton resort hotel built in 2001, features 302-hotel rooms and 188 residential condominium units owned by third parties, located on approximately 17.65-acres. CBRE has determined that, on average, 100 of the 188 condominium units are available hotel room inventory on a nightly basis. The Ritz-Carlton Key Biscayne hotel has 235 Standard Rooms, 29 Standard Rooms-Club Level, 31 One-Bedroom Suites, 6 One-Bedroom Suites-Club Level and one Ritz-Carlton Suite. o The Ritz-Carlton Key Biscayne Mortgaged Property is one of the only AAA ooooo hotel resorts in Southern Florida. Since opening in 2001, the Ritz-Carlton Key Biscayne Mortgaged Property has provided guests with world class amenities, including a 20,000 square foot spa (which received the Conde Nast designation of Best Spa in Miami, #15 in North America, #4 in treatments), the largest tennis complex of any Ritz-Carlton, oceanfront dining, championship golf approximately five minutes away, 22,500 square feet of meeting and function space and 1,200 feet of direct beach frontage with extensive beach and pool activities. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 56 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- o The Ritz-Carlton Key Biscayne Mortgaged Property is located on a barrier island, just five miles from downtown Miami, Florida. The Ritz-Carlton Key Biscayne was designed to maximize the number of available beach and bay units while providing ample square footage to which Ritz-Carlton guests are accustomed. It is expected that the Ritz-Carlton Key Biscayne Mortgaged Property will continue to benefit from significant barriers to entry in the surrounding markets, in particular the lack of available land on the island of Key Biscayne. o The 188 condominium units are comprised of 113 studios, 68 one bedroom units and 7 two bedroom units. Each condominium unit incorporates the Ritz-Carlton Key Biscayne design so as to ease transition from inclusion in the hotel room inventory to individual ownership. For example, the two bedroom condominium units consist of a standard one bedroom plus a lockout studio unit, which allows for inclusion either in the 2-bedroom or the one-bedroom hotel room inventories. Additionally, all condominium units were sold fully furnished so as to conform to the standards of the Ritz-Carlton brand. The condominium units at the Ritz-Carlton Key Biscayne Mortgaged Property receive the same quality of service and maintenance as provided to the Ritz-Carlton Key Biscayne hotel. The condominium units subject to the voluntary rental programs described below are individually owned but are managed by the Ritz-Carlton Key Biscayne property mananger. o Approximately 88% of the condominium units are contributed to one of two voluntary rental programs, enabling these units to be included in the available hotel room inventory. Under the "guaranteed program", the Ritz-Carlton Key Biscayne hotel enters into a lease agreement with the condominium unit owner whereby the Ritz-Carlton Key Biscayne hotel has the right to include such condominium unit in the available hotel room inventory for all but 8-weeks per year. The lease provides a fixed fee, ranging from $60 to $120 per night with an average of $80.47 per night, for the use of the condominium units with all excess proceeds accruing to the benefit of the Ritz-Carlton Key Biscayne hotel. During the 8-weeks of use by the condominium unit owner, the Ritz-Carlton Key Biscayne hotel receives a service charge. Under the "flexible program", owners are able to offer their condominium units for inclusion in the available hotel room inventory with limited advance notice. In such case, the gross proceeds of any rental, net of a 10% service fee payable to the Ritz-Carlton Key Biscayne property manager, will be divided equally between the condominium unit owner and the Ritz-Carlton Key Biscayne hotel. PROPERTY MANAGEMENT: o The Ritz-Carlton Key Biscayne Mortgaged Property is managed by The Ritz-Carlton Hotel Company, L.L.C. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE PARI PASSU, MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not allowed. LOW DSCR RESERVE: o The Ritz-Carlton Key Biscayne Loan is structured with in-place cash management. After reserving for FF&E and management fees, the Ritz-Carlton Key Biscayne property manager is required to deposit all remaining amounts into a lender controlled account, whereupon after payment of debt service and the funding of ongoing reserves, any excess cash is returned to the borrower unless a Low NCF Period exists. During a Low NCF Period, only 10% of the excess cash will be returned to the Ritz-Carlton Key Biscayne borrower and 90% of the excess cash will be deposited into the lender controlled Low DSCR Reserve account to be held as additional collateral for the Ritz-Carlton Key Biscayne. "Low NCF Period" means that period (for which testing may not begin until June 1, 2009) (i) commencing on the payment date following the conclusion of any two consecutive fiscal quarters in which the net cash flow ("NCF") for the Ritz-Carlton Key Biscayne Mortgaged Property is less than $11,500,000 and (ii) ending on the day immediately preceding the payment date following the conclusion of any two consecutive fiscal quarters in which the NCF for the Ritz-Carlton Key Biscayne Mortgaged Property equals or exceeds $11,500,000, at which time any amounts in the Low DSCR Reserve account will be returned to the Ritz Carlton Key Biscayne borrower. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 57 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- RITZ-CARLTON KEY BISCAYNE - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 58 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 59 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GACC LOAN PURPOSE: Refinance ORIGINAL PRINCIPAL BALANCE: $72,000,000 FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 120/0 months INTEREST ONLY PERIOD: 120 months MATURITY DATE: July 1, 2016 EXPECTED MATURITY BALANCE: $72,000,000 BORROWING ENTITY: Glendale Fashion Associates LLC and Rancho Palisades Holdings LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 116 payments Open: 4 payments UP-FRONT RESERVES: TAX/INSURANCE RESERVE: Yes ONGOING MONTHLY RESERVES: TAX/INSURANCE RESERVE: Yes REPLACEMENT RESERVE(1): $3,301 TI/LC RESERVE(2): $11,003 LOCKBOX: Soft - -------------------------------------------------------------------------------- (1) Monthly deposits into the replacement reserve (the "Replacement Reserve") are required until the Replacement Reserve contains $79,224 (the "Replacement Cap"). The Replacement Cap shall be eliminated upon (a) a determination that the Glendale Fashion Center Mortgaged Property is not being adequately maintained or (b) the occurrence of an Event of Default (as such term is defined in the Glendale Fashion Center loan documents). (2) Monthly deposits into the tenant improvement and leasing commission reserve (the "TI/LC Reserve") are required until the TI/LC reserve contains $366,000 (the "TI/LC Cap"). The TI/LC Cap will be eliminated upon (a) an Event of Default, (b) the failure of the Glendale Fashion Center Mortgaged Property to maintain an 80% occupancy level or (c) the failure of the Glendale Fashion Center Mortgaged Property to maintain a debt service coverage ratio (based on interest only debt service payments, annualized rents in place and the greater of underwritten or trailing 12 month expenses) of at least 1.05x. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $72,000,000 CUT-OFF DATE LTV: 80.0% MATURITY DATE LTV: 80.0% UNDERWRITTEN DSCR: 1.20x MORTGAGE RATE: 6.173% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Retail PROPERTY SUB TYPE: Anchored LOCATION: Glendale, California YEAR BUILT/RENOVATED: 2000/NAP NET RENTABLE SQUARE FEET: 264,062 CUT-OFF BALANCE PSF: $273 OCCUPANCY AS OF MAY 31, 2006: 100.0% OWNERSHIP INTEREST: Fee/Leasehold PROPERTY MANAGEMENT: Vestar Properties, Inc. UNDERWRITTEN NET CASH FLOW: $ 5,397,394 APPRAISED VALUE: $90,000,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 60 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR T12 (12/31/2004) (12/31/2005) (AS OF 5/31/2006) UNDERWRITTEN ------------ ------------ ----------------- ------------ Effective Gross Income .............. $7,178,534 $7,609,320 $7,709,344 $8,022,600 Total Expenses ...................... $2,017,442 $2,115,139 $2,128,817 $2,453,566 Net Operating Income (NOI) .......... $5,161,092 $5,494,181 $5,580,527 $5,569,034 Cash Flow (CF) ...................... $5,161,092 $5,494,181 $5,580,527 $5,397,394 DSCR on NOI ......................... 1.15x 1.22x 1.24x 1.24x DSCR on CF .......................... 1.15x 1.22x 1.24x 1.20x TENANT INFORMATION(1) RATINGS TOTAL % OF RENT POTENTIAL % POTENTIAL LEASE TOP TENANTS MOODY'S/S&P TENANT SF TOTAL SF PSF RENT RENT EXPIRATION - --------------------------------- ----------- --------- -------- ------ ---------- ----------- ---------- Ralph's Grocery(2) .............. Baa2/BBB- 50,000 18.9% $28.37 $1,418,317 23.6% 3/31/2025 Nordstrom Rack(3) ............... Baa1/A 37,140 14.1 $14.40 534,816 8.9 6/15/2010 Ross Dress for Less(4) .......... NR/BBB 32,100 12.2 $21.50 690,150 11.5 1/31/2011 Barnes & Noble(5) ............... NR/NR 25,000 9.5 $12.50 312,504 5.2 2/28/2015 Staples, Inc.(6) ................ Baa2/BBB 24,000 9.1 $25.11 602,636 10.0 4/30/2015 ------- ---- ---------- ---- TOTAL ........................... 168,240 63.7% $3,558,423 59.1% (1) Information obtained from underwritten rent roll except for ratings (Moody's/S&P) unless otherwise stated. Credit ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to "Rent PSF", "Potential Rent", and "% Potential Rent" include base rent only and exclude common area maintenance and reimbursements. (2) The Ralph's lease permits the tenant to "go dark," however; the borrower has a termination/recapture right if Ralph's "goes dark" for a continuous period of 9 months and if Ralph's provides a notice of cessation to the Glendale Fashion Center Borrower. (3) Nordstrom, Inc. has a right to reduce its rent by 50% in the event any three anchor tenant spaces (defined as spaces larger than 20,000 square feet in size) are not continuously open for a 12-month period. If those spaces are not open for another consecutive 360-day period, Nordstrom may elect, within 30 days, to terminate its lease. (4) Ross Dress for Less may terminate its lease if for more than 365 consecutive days (a) a supermarket tenant occupying at least 50,000 square feet is not in operation or (b) less than 65% of the Glendale Fashion Center's net rentable area (excluding Ross's premises and the supermarket tenant), is not open for business and conducting retail operations. In addition, the tenant may "go dark"; however, the borrower has a termination/recapture right if the tenant notifies the landlord of its intention to cease operations or if the tenant ceases operations for 180 consecutive days without notifying the borrower. (5) The Barnes & Noble lease provides that if at least 65% of the leasable square feet of the Glendale Fashion Center is not open for business for more than 12-months, Barnes & Noble may abate its rent. If rent is abated for more than 12 months, Barnes & Noble has the right to terminate its lease. (6) The Staples, Inc. lease permits the tenant to "go dark," however; the borrower has a termination/recapture right if the tenant closes for a continuous period of 360 days or more. LEASE ROLLOVER SCHEDULE(1) # OF LEASES EXPIRING % OF CUMULATIVE CUMULATIVE BASE RENT YEAR OF EXPIRATION EXPIRING SF TOTAL SF TOTAL SF % OF TOTAL SF EXPIRING - ----------------------------- ----------- -------- -------- ---------- ------------- ---------- 2007 ........................ 2 180 0.1% 180 0.1% $ -- 2008 ........................ 1 22,311 8.4 22,491 8.5% $ 441,758 2009 ........................ 1 1,279 0.5 23,770 9.0% $ 53,718 2010 ........................ 6 50,519 19.1 74,289 28.1% $1,021,188 2011 ........................ 1 32,100 12.2 106,389 40.3% $ 690,150 2012 ........................ -- -- 0.0 106,389 40.3% $ -- 2013 ........................ 1 2,000 0.8 108,389 41.0% $ 80,838 2014 ........................ 1 3,000 1.1 111,389 42.2% $ 108,000 2015 ........................ 4 84,673 32.1 196,062 74.2% $1,774,800 2016 ........................ -- -- 0.0 196,062 74.2% $ -- 2020 ........................ -- -- 0.0 196,062 74.2% $ -- 2021 ........................ 1 18,000 6.8 214,062 81.1% $ 432,000 Greater than 2021 ........... 1 50,000 18.9 264,062 100.0% $1,418,317 MTM ......................... -- -- -- 264,062 100.0% $ -- Vacant ...................... -- -- -- 264,062 100.0% $ -- -- ------- ----- TOTAL ....................... 19 264,062 100.0% (1) Information obtained from the underwritten rent roll. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 61 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS - -------------------------------------------------------------------------------- The four largest anchor tenants at the Glendale Fashion Center, representing 54.6% of the total net rentable square feet, are: o THE KROGER CO. (d/b/a Ralph's) (NYSE: "KR") (rated "Baa2" by Moody's and "BBB-" by S&P) occupies 50,000 square feet (18.9% of square feet, 23.6% of rental income) under its "Ralph's" brand pursuant to a 25-year triple net lease that expires on March 31, 2025. The rental rate per square foot of $26.40 increases in accordance with the consumer price index ("CPI") on April 2010 and every 5 years thereafter. There are five, five-year options remaining to renew the Ralph's lease. Ralph's is also required to pay percentage rent of 1.5% of gross sales above the natural breakpoint. The Kroger CO. ("Kroger") is one of the nation's largest retail grocery chains, with fiscal 2005 sales of over $60 billion. At the end of 2005, Kroger operated (either directly or through subsidiaries) 2,507 supermarkets and multi-department stores in 32 states under two dozen local banners including Kroger, Ralph's, Fred Meyer, Food 4 Less, King Soopers, Smith's and Smith's Marketplace, Fry's and Fry's Marketplace, Dillon's, QFC and City Market. Kroger also operates (directly or through subsidiaries, franchise agreements or operating agreements) 791 convenience stores, 428 fine jewelry stores, 579 supermarket fuel centers and 35 food processing plants. At year-end 2005, Kroger operated in 44 major markets (an area with 9+ Kroger-owned stores), and held the number 1 or 2 position in 35 of those markets. Kroger's top five major markets are Los Angeles, Atlanta, Houston, Seattle, and Phoenix. As of August 1, 2006, Kroger had a market capitalization of $16.31 billion. o NORDSTROM INC. (d/b/a Nordstrom Rack) (NYSE: "JWN") (rated "Baa1" by Moody's and "A" by S&P) occupies 37,140 square feet (14.1% of square feet and 8.9% of rental income) under a 10-year triple net lease that expires on June 15, 2010. The rental rate per square foot of $14.40 remains constant during the initial term of the Nordstrom Inc. ("Nordstrom") lease. There are four, five-year options remaining to renew the lease with incremental rent steps. Nordstrom is one of the largest upscale apparel and shoe retailers in the United States. Nordstrom sells clothes, shoes, and accessories through 99 Nordstrom stores, 49 outlet stores (Nordstrom Rack) and five Faconnable boutiques in 27 states across the country. As of August 1, 2006, Nordstrom had a market capitalization of $8.98 billion. o ROSS STORES, INC. (d/b/a Ross Dress for Less) (NSDQ: "ROST") (not rated by Moody's and rated "BBB" by S&P) occupies 32,100 square feet (12.2% of square feet and 11.5% of rental income) under a 10-year and nine-month triple net lease that expires on January 31, 2011. The rental rate per square foot of $21.50 remains constant during the lease term plus percentage rent of 2% of gross sales above the natural breakpoint. There are three, five-year options to renew the lease, with rent steps of $1.50 each extension option. Ross Stores, Inc. ("Ross") operates discount retail stores under the Ross and dd's discounts names in 26 states, mostly in the western United States and Guam. Ross's stores offer branded apparel, accessories, and footwear for men and women, targeting 25 to 54 year-old white-collar shoppers from primarily middle-income households. As of July 29, 2006, Ross operated 744 Ross stores and 26 dd's discounts locations. As of August 1, 2006, Ross Stores, Inc. had a market capitalization of $3.46 billion. o STAPLES, INC. (NSDQ: "SPLS") (rated "Baa2" by Moody's and "BBB" by S&P) occupies 24,000 square feet (9.1% of square feet and 10.0% of rental income) under a 15-year triple net lease that expires on April 30, 2015. The rental rate per square foot of $23.41 remains constant until April of 2010, whereby rent increases in accordance with CPI, subject to a cap of 12.5%. There are two, five-year options to renew the lease, with rent steps equal to CPI increases, subject to a cap of 12.5%. Staples, Inc. ("Staples") invented the office superstore concept in 1986 and today is the world's largest office products company. Headquartered outside Boston, Massachusetts, Staples operates 1,786 superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. With 69,000 customer associates, Staples is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture and business services. With 2005 sales of $16.1 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 21 countries throughout North and South America, Europe and Asia. As of August 1, 2006, Staples had a market capitalization of $15.41 billion. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 62 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The Glendale Fashion Center Loan is a $72.0 million, ten-year fixed rate loan secured by a first priority mortgage on a 264,062 square foot anchored power center in Glendale, Los Angeles County, California approximately 10 miles from the central business district of Los Angeles. The Glendale Fashion Center Loan is interest-only for the entire loan term, matures on July 1, 2016 and accrues interest at an annual rate of 6.173%. THE BORROWER: o The borrower for the Glendale Fashion Center Loan is comprised of two tenants-in-common, Glendale Fashion Associates LLC and Rancho Palisades Holdings, LLC (collectively, the "Glendale Fashion Center Borrower"), each of which is a single-purpose bankruptcy-remote Delaware limited liability company for which a non-consolidation option was delivered at closing. The Glendale Fashion Center Loan is sponsored by Marianne Moy. o Marianne Moy has been an active real estate investor and property manager since 1970. Ms. Moy is a licensed real estate broker and the President of Golden Horizon Realty, as well as Oaks Property Management. Golden Horizon Realty focuses on the acquisition and development of "value added" properties located in strong infill locations primarily in Southern California. As of February 28, 2006, Marianne Moy, through various entities, owned seven commercial properties, 753 apartment units in five buildings, the Glendale Fashion Center, and an 110,000 square foot self-storage facility that is currently under construction. THE MORTGAGED PROPERTY: o The Glendale Fashion Center Mortgaged Property consists of three Class "A" retail structures and one pad site building arranged around a two-level parking structure. The parking structure and the land it is situated on are owned by the City of Glendale and leased by the Glendale Fashion Center Borrower for an initial term of 20 years with lease renewals exercisable at the Glendale Fashion Center Borrower's option for a total term of 99 years. The remaining land and improvements are owned in fee by the Glendale Fashion Center Borrower. o The Glendale Fashion Center Mortgaged Property, which benefits from a highly visible location and a total traffic count of 80,000 vehicles per day, was constructed in 2000 and is situated on an 6.67-acre site that encompasses the majority of a city block. The Glendale Fashion Center Mortgaged Property, composed of 9 'big box' retailers and 8 smaller tenants, has attractive, brightly colored stucco and glass storefronts/finishes as well as attractive landscaping. There is sufficient parking at the Glendale Fashion Center Mortgaged Property to accommodate approximately 1,157 vehicles. o According to the first quarter 2006 REIS Report (Neighborhood and Community centers) (the "REIS Report"), the Los Angeles County retail market has been characterized by a 5.7% or lower vacancy rate since 1995 with a current vacancy rate of just 2.9%. The Glendale Fashion Center Mortgaged Property is located in the Burbank/Glendale/Pasadena sub-market, which, according to the REIS Report, had an overall vacancy rate of just 1.3%. Despite approximately 412,000 square feet of retail space planned for development through 2010, the REIS Report forecasts a vacancy rate of less than 2.5% for this sub-market through 2010. The Glendale Fashion Center Mortgaged Property has a strong occupancy history with the only significant vacancy (Stroud's in 2004) resulting from a corporate bankruptcy. o The Glendale Fashion Center Mortgaged Property is currently (as of the May 31, 2006 rent roll) 100% leased and occupied by 17 retail tenants, and two financial institutions. Approximately 55.4% of total square footage and 54.4% of rental income is attributable to tenants with investment grade credit ratings. Tenants occupying space at the Glendale Fashion Center Mortgaged Property include; Ralph's Grocery, Nordstrom Rack, Ross Dress for Less, Barnes & Noble, Staples, Michael's, Cost Plus World Market, Longs Drug Store, Western Financial Bank and Petco. o As of 2005, the population within a 1, 3 and 5 mile radius of the Glendale Fashion Center Mortgaged Property was 67,276, 234,063 and 263,468 respectively. During the same time period, the median household income within a 1, 3 and 5 mile radius of the Glendale Fashion Center Mortgaged Property was $35,044, $44,262 and $43,855. Over the past five and ten-year periods, the compound annual growth rate of retail sales in Glendale was 6.2% and 8.7%, respectively, commensurate with the strong rate of the greater Los Angeles County growth trends. The Glendale Fashion Center Mortgaged Property is bound by Wilson Avenue to the south, E. California Avenue to the north, Isabel Street to east, and N. Glendale Avenue to the west, each of which is a major arterial street in Glendale. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 63 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- o The Glendale Fashion Center Borrower is generally required at its sole cost and expense to keep the Glendale Fashion Center Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o Vestar Properties Inc. (d/b/a Vestar Property Management) ("Vestar") manages the Glendale Fashion Center Mortgaged Property. Vestar, an independent third-party property manager, specializes in the development of open-air centers and is one of the leading privately-held real estate companies in the western region of the United States. Vestar is an industry leader in the management of shopping centers, industrial projects, and office buildings, with over 11 million square feet under management in Arizona and Southern California. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not Allowed. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 64 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- GLENDALE FASHION CENTER - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 65 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 66 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GACC LOAN PURPOSE: Acquisition ORIGINAL PRINCIPAL BALANCE: $64,000,000 FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 120/360 months INTEREST ONLY PERIOD: 84 months MATURITY DATE: July 1, 2016 EXPECTED MATURITY BALANCE: $61,853,511 BORROWING ENTITIES: Forest Village Corporate Ridge LLC, Shadyside Associates Corporate Ridge LLC and MHA Corporate Ridge LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance 116 payments Open: 4 payments UP-FRONT RESERVES: TAX/INSURANCE RESERVE: Yes OTHER RESERVE(1): $38,918 ONGOING MONTHLY RESERVES: TAX/INSURANCE RESERVE: Yes REPLACEMENT RESERVE: $4,268 TI/LC RESERVE(2): $21,336 LOCKBOX: Hard - -------------------------------------------------------------------------------- (1) A free rent reserve (the "Rent Concession Reserve") in the amount of $38,918 was established for Logistics Management Institute ("LMI") September 2006 rent payable in connection with LMI's expansion space. (2) See "Cash Sweep and Tenant Improvement/Leasing Reserve" section below. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $64,000,000 CUT-OFF DATE LTV: 80.0% MATURITY DATE LTV: 77.3% UNDERWRITTEN DSCR: 1.10x INTEREST ONLY DSCR(1): 1.29x MORTGAGE RATE: 6.220% - -------------------------------------------------------------------------------- (1) Underwritten DSCR is based on the partial interest-only period. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Office PROPERTY SUB TYPE: Suburban LOCATION: McLean, Virginia YEAR BUILT/RENOVATED: 1985/NAP NET RENTABLE SQUARE FEET: 256,022 CUT-OFF BALANCE PSF: $250 OCCUPANCY AS OF JUNE 14, 2006: 100.0% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: New Boston Management Services, Inc. UNDERWRITTEN NET CASH FLOW: $5,187,585 APPRAISED VALUE: $80,000,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 67 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR TTM (12/31/2004) (12/31/2005) (04/30/2006) UNDERWRITTEN ------------ ------------ ------------ ------------ Effective Gross Income .......... $6,480,252 $6,682,578 $6,705,117 $7,563,893 Total Expenses .................. $1,990,335 $1,969,306 $1,970,880 $2,069,081 Net Operating Income (NOI) ...... $4,489,917 $4,713,272 $4,734,238 $5,494,812 Cash Flow (CF) .................. $4,489,917 $4,713,272 $4,734,238 $5,187,585 DSCR on NOI(1) .................. 0.95x 1.00x 1.00x 1.17x DSCR on CF(1) ................... 0.95x 1.00x 1.00x 1.10x (1) The DSCR is based on the amortization period of the 2000 Corporate Ridge Road Loan. TENANT INFORMATION(1) RATINGS TOTAL % OF POTENTIAL % POTENTIAL LEASE TOP TENANTS MOODY'S/S&P TENANT SF TOTAL SF RENT PSF RENT RENT EXPIRATION - ----------- ----------- ---------- -------- -------- ---------- ----------- ------------- Logistics Management Institute ........ Not Rated 240,462(2) 93.9% $26.04 $6,261,630 93.1% 01/31/2015(3) American Frozen Food Institute ........ Not Rated 8,388 3.3 $27.81 233,270 3.5 08/31/2010 General Electric Capital Corporation .. Aaa / AAA 3,938 1.5 $30.40 119,715 1.8 09/30/2007 ------- ---- ---------- ---- TOTAL ................................. 252,788 98.7% $6,614,616 98.4% (1) Information obtained from underwritten rent roll, except for ratings, (Moody's/S&P) unless otherwise stated. Credit ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to "Rent PSF", "Potential Rent" and, "% Potential Rent" include base rent only and exclude common area maintenance and reimbursements. (2) LMI has the right, on or after January 1, 2007, through and including December 31, 2009 (the "First Contraction Right") and on and after January 1, 2011 through and including December 31, 2013 (the "Second Contraction Right"), to decrease its leased space, in each case, by up to a full floor, upon 12 months prior written notice, provided that LMI must pay to the 2000 Corporate Ridge Road borrower (A) at the time of notice of its intent to contract, 50% of an amount equal to the product of (i) the ratio of (x) the rent PSF of the space to be contracted over (y) the rent PSF of the space LMI leased at the 2000 Corporate Ridge Road Mortgaged Property and (ii) the unamortized value, as of the contraction date, of all transaction costs incurred by the borrower in connection with the LMI lease, and (B) at the time of contraction, the remaining 50% of an amount equal to the product of (i) the ratio of (x) the rent PSF of the space to be contracted over (y) the rent PSF of the space LMI leased at the 2000 Corporate Ridge Road Mortgaged Property and (ii) the unamortized value, as of the contraction date, all transaction costs incurred by the borrower in connection with the LMI lease. (3) LMI is permitted to terminate its lease on or after January 31, 2013, upon 18 months prior written notice, if LMI permanently ceases business operations, provided that LMI is required to pay to the 2000 Corporate Ridge Road borrower an amount equal to 100% of (i) the unamortized value of all transaction costs incurred by the 2000 Corporate Ridge Road borrower in connection with the LMI lease and (ii) the remaining unpaid balance, if any, of the Additional Improvements Allowance (as defined in the LMI lease). LEASE ROLLOVER SCHEDULE(1) # OF LEASES EXPIRING % OF TOTAL CUMULATIVE CUMULATIVE % BASE RENT YEAR OF EXPIRATION EXPIRING SF SF TOTAL SF OF TOTAL SF EXPIRING - ------------------ -------- -------- ---------- ---------- ------------ ---------- 2006 .............. -- -- --% -- --% $ -- 2007 .............. 1 3,938 1.5 3,938 1.5% $ 119,715 2008 .............. 1 60 0.0 3,998 1.6% $ 2,100 2009 .............. -- -- -- 3,998 1.6% $ -- 2010 .............. 2 9,146 3.6 13,144 5.1% $ 250,837 2011 .............. 1 2,416 0.9 15,560 6.1% $ 87,831 2015 .............. 1 240,462 93.9 256,022 100.0% $6,261,630 Vacant ............ -- -- -- 256,022 100.0% $ -- --- ------- ----- TOTAL. ............ 6 256,022 100.0% (1) Information obtained is from underwritten rent roll. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 68 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS - -------------------------------------------------------------------------------- The three largest tenants represent 98.7% of the total net rentable square feet: o LOGISTICS MANAGEMENT INSTITUTE ("LMI") occupies 240,462 square feet (93.9% of square feet and 93.1% of rental income) under various lease terms all expiring on January 31, 2015. The LMI lease is structured with annual rent increases averaging $0.85/square foot. LMI uses the 2000 Corporate Ridge Mortgaged Property for its corporate headquarters and has been in occupancy of the 2000 Corporate Ridge Road Mortgage Property since 1994. LMI is a rapidly growing private, not-for-profit civil and defense government consulting firm that was founded in 1961 by former Secretary of Defense, Robert S. McNamara. LMI has undergone several expansions at the 2000 Corporate Ridge Road Mortgaged Property, more than doubling its original space. The 2000 Corporate Ridge Road borrower is planning an approximately 70,000 square foot addition to accommodate future LMI expansion(s). LMI, which has a staff of over 700 researchers and consultants, specializes in six areas: (i) acquisitions of goods and services, (ii) facilities and asset management, (iii) financial management, (iv) information and technology, (v) logistics and (vi) organizations and human capital. For 2005, LMI reported record revenues of $136 million, representing a 16% increase over 2004. For 10 consecutive years, LMI has experienced an annual growth rate of 13% in revenues. o AMERICAN FROZEN FOOD INSTITUTE ("AFFI") occupies 8,388 square feet (3.3% of square feet and 3.5% of rental income) under a 9-year lease that expires on August 31, 2010. AFFI is the national trade association representing the frozen food industry supply chain, from manufacturers to distributors to suppliers to packagers. AFFI is headquarted at the 2000 Corporate Ridge Road Mortgaged Property and is staffed with experts in the areas of legislative affairs, product distribution and logistics, public and trade relations, regulatory compliance, research and technology and international trade. o GENERAL ELECTRIC CAPITAL CORPORATION ("GECC") (rated "Aaa" by Moody's and "AAA" by S&P) occupies 3,938 square feet (1.5% of square feet and 1.8% of rental income) under a ten-year lease that expires on September 30, 2007. There is an October 1, 2006 scheduled rent increase to $31.31/square foot from $30.40/square foot. The GECC space is occupied by Potomac Federal Corp. ("PFC") which was acquired by GECC in 1997). PFC is a unit of the Vendor Financial Services organization providing financial, marketing and consulting services to Federal Government prime contractors and Federal Government agencies. PFC is headquartered at the 2000 Corporate Ridge Road Mortgaged Property. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 69 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The 2000 Corporate Ridge Road Loan is a $64.0 million, ten-year fixed rate loan secured by a first priority mortgage on a Class "A" office building located in McLean, Fairfax County, Virginia. The 2000 Corporate Ridge Road Loan is interest-only for the first seven years of the 2000 Corporate Ridge Road Loan term, matures on July 1, 2016 and accrues interest at an annual rate of 6.220%. o The 2000 Corporate Ridge Road Loan is structured to include a partial recourse guaranty in an amount up to $4.0 million from Mr. Stephen Goldberg, in his individual capacity (the "Guaranty"). The Guaranty will be released only upon the occurence of (i) the LMI rental rate increasing to $30.04/square foot (scheduled to occur in July 2009); (ii) the Corporate Ridge Road Mortgage Property being at least 90% occupied and (iii) a DSCR not less than 1.10x on a 30-year amortizing basis. THE BORROWER: o The 2000 Corporate Ridge Road borrower consists of three tenants-in-common ("TIC"): Forest Village Corporate Ridge, LLC (34.5%), MHA Corporate Ridge, LLC (34.5%) and Shadyside Associates Corporate Ridge, LLC (31.0%). All three TIC's are single-purpose bankruptcy-remote Delaware limited liability companies with at least two independent directors for which a non-consolidation opinion was delivered at closing. Equity ownership of Forrest Village Corporate Ridge, LLC is held 67.8% by Stephen Goldberg and 32.2% by various limited partners. Equity ownership of MHA Corporate Ridge, LLC is held 71.2% by Stephen Goldberg and 28.8% by various limited partners. Equity ownership of Shadyside Corporate Ridge LLC is held 75% by Stephen Goldberg and 25% by various limited partners. The sponsor of the borrower is Stephen Goldberg, a repeat sponsor of a Deutsche Bank borrower. o In 1963, Stephen Goldberg founded The Stephen A. Goldberg Company, a privately held real estate investment and management company that controls over 75 partnerships and corporations. The Stephen A. Goldberg Company employs approximately 400 people, generates annual revenue in excess of $50 million and has completed approximately $1.5 billion of real estate and financing transactions. In addition, the Stephen A. Goldberg Company manages over $300 million of development projects. The Stephen A. Goldberg Company's real estate experience includes the financing and/or developing of over 2.0 million square feet of Class 'A' office space, primarily in the Washington, D.C. area. THE MORTGAGED PROPERTY: o The 2000 Corporate Ridge Road Mortgaged Property consists of a fee simple interest in a Class "A" office building built in 1985. The ten-story Class "A" building, located in McLean, Virginia, contains approximately 256,022 net rentable square feet and is situated on 8.35 acres of land. In addition to the building, a four level parking garage containing 870 parking spaces, is a part of the collateral for the 2000 Corporate Ridge Road Loan. Building amenities include a ten-story lobby atrium with skylights, polished marble flooring, a large fountain, extensive landscaping and five glass-enclosed passenger elevators. The 2000 Corporate Ridge Road Mortgaged Property is currently occupied by six office tenants ranging in size from 60 to 240,462 square feet. o The 2000 Corporate Ridge Road Mortgaged Property is located in the Washington, D.C. metropolitan statistical area and more specifically, in the Tysons Corner submarket, which contains approximately 26 million square feet of office space. Tysons Corner is a densely developed suburban office/retail submarket in northern Virginia. According to CBRE, the Tysons Corner submarket had a second quarter 2006 average occupancy level of 91.25% and an average rental rate per square foot of $27.65, approximately five percent above the weighted average rent at the 2000 Corporate Ridge Road Mortgaged Property. o The 2000 Corporate Ridge Road Mortgaged Property is visible from I-495 and is located near the I-495/Leesburg Pike interchange. Leesburg Pike is a multi-lane commercial thoroughfare that traverses the northern Virginia suburbs bordering Washington, D.C. PROPERTY MANAGEMENT: o The 2000 Corporate Ridge Mortgage Property is managed by New Boston Management Services, Inc. ("New Boston"), an independent third-party manager. Founded in 1993, New Boston is a real estate investment management firm based in Boston, Massachusetts, that manages close to a billion dollars in private equity capital on behalf of high net worth and institutional borrowers. New Boston manages approximately 3.7 million square feet in the Mid-Atlantic Region. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 70 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not Allowed. CASH SWEEP AND TENANT IMPROVEMENT/LEASING RESERVE o Upon the occurrence of (a) an Event of Default (as such term is defined in the 2000 Corporate Ridge Road Loan documents), (b) a termination of the LMI lease or (c) LMI exercising its First Contraction Right or Second Contraction Right, all excess cash flow is required to be swept into a lender controlled account and any amounts swept pursuant to (b) or (c) above are required to be deposited into the TI/LC Reserve; provided however, the amount swept into the TI/LC Reserve in connection with (c) above is capped at $675,000. - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 71 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 2000 CORPORATE RIDGE ROAD - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 72 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 73 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GECC LOAN PURPOSE: Refinance ORIGINAL PRINCIPAL BALANCE: $62,968,000 FIRST PAYMENT DATE: August 1, 2006 TERM/AMORTIZATION: 120/360 months INTEREST ONLY PERIOD: 60 months MATURITY DATE: July 1, 2016 EXPECTED MATURITY BALANCE: $59,138,352 BORROWING ENTITY: Extra Space Properties Twenty Five LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 117 payments Open: 3 payments ADDITIONAL FINANCING: None FUTURE MEZZANINE DEBT: No UPFRONT RESERVES: TAX/INSURANCE RESERVE: Yes IMMEDIATE REPAIR RESERVE: $54,850 ONGOING MONTHLY RESERVES: TAX/INSURANCE RESERVE: Yes REPLACEMENT RESERVE: $8,132 LOCKBOX: None - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $62,968,000 CUT-OFF DATE LTV: 75.8% MATURITY DATE LTV: 71.2% UNDERWRITTEN DSCR (1): 1.20x INTEREST ONLY DSCR(1): 1.40x MORTGAGE RATE: 6.180% - -------------------------------------------------------------------------------- (1) DSCR figures based on net cash flow unless otherwise noted. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Self Storage PROPERTY SUB-TYPE: Self Storage NUMBER OF PROPERTIES: 9 LOCATION: Various YEAR BUILT/RENOVATED: Various/Various NUMBER OF SQUARE FEET: 649,308 CUT-OFF BALANCE PER SQUARE $97 FOOT: OCCUPANCY AS OF VARIOUS DATES: 85.1% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: Borrower/Owner Managed UNDERWRITTEN NET CASH FLOW: $ 5,518,943 APPRAISED VALUE: $83,020,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 74 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- FINANCIAL INFORMATION FULL YEAR FULL YEAR TRAILING-12 (12/31/04) (12/31/05) (03/31/06) UNDERWRITTEN ---------- ---------- ----------- ------------ Effective Gross Income ....... $5,267,474 $8,467,199 $8,577,449 $8,801,600 Total Expenses ............... $1,919,192 $2,723,728 $2,739,705 $3,185,232 Net Operating Income (NOI) ... $3,348,282 $5,743,471 $5,837,744 $5,616,368 Cash Flow (CF) ............... $3,203,782 $5,683,911 $5,734,711 $5,518,943 DSCR on NOI .................. 0.73x 1.24x 1.26x 1.22x DSCR on CF ................... 0.69x 1.23x 1.24x 1.20x PROPERTY INFORMATION(1) TOTAL TOTAL PROPERTY NAME LOCATION UNITS SF - ----------------------------------------- ---------------- ----- ------- Extra Space -- Bronx .................... Bronx, NY 1,270 59,000 Extra Space -- Venice ................... Venice, FL 861 80,942 Extra Space -- Sherman Oaks ............. Sherman Oaks, CA 843 91,545 Extra Space -- Hoboken .................. Hoboken, NJ 813 56,873 Extra Space -- Nanuet ................... Nanuet, NY 806 58,213 Extra Space -- Lakewood 80th Street ..... Lakewood, WA 632 100,270 Extra Space -- Lakewood Pacific Way ..... Lakewood, WA 618 73,610 Extra Space -- Manteca .................. Manteca, CA 539 60,225 Extra Space -- Dacula ................... Dacula, GA 490 68,630 ----- ------- TOTAL ................................... 6,872 649,308 YEAR % OF RENT % OF BUILT/ TOTAL PER POTENTIAL YEAR OWNERSHIP PROPERTY NAME UNITS SF RENT RENOVATED INTEREST - ----------------------------------------- ----- ------ --------- --------- --------- Extra Space -- Bronx .................... 18.5% $ 2.46 16.2% 1950/1998 Fee Extra Space -- Venice ................... 12.5 $ 1.28 11.6 2001/NAP Fee Extra Space -- Sherman Oaks ............. 12.3 $ 2.20 22.5 1998/NAP Fee Extra Space -- Hoboken .................. 11.8 $ 1.91 12.1 2002/NAP Fee Extra Space -- Nanuet ................... 11.7 $ 1.54 10.0 2001/NAP Fee Extra Space -- Lakewood 80th Street ..... 9.2 $ 0.74 8.3 1997/NAP Fee Extra Space -- Lakewood Pacific Way ..... 9.0 $ 0.85 7.0 2003/NAP Fee Extra Space -- Manteca .................. 7.8 $ 0.82 5.5 2000/NAP Fee Extra Space -- Dacula ................... 7.1 $ 0.88 6.7 2001/NAP Fee ----- ----- TOTAL ................................... 100.0% 100.0% (1) Information obtained from underwritten rent roll unless otherwise stated. Calculations with respect to Rent Per Unit, Potential Rent, and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 75 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The Extra Space Portfolio Loan is a $63.0 million ten-year fixed rate loan secured by a first mortgage on a portfolio of nine self storage properties containing a total of 6,872 units and 649,308 square feet located in six states. The Extra Space Portfolio Loan amortizes over 360 months with an initial interest-only period of 60 months, matures on July 1, 2016 and accrues interest at an annual rate of 6.180%. THE BORROWER: o The Extra Space Portfolio Borrower is Extra Space Properties Twenty Five LLC, a Delaware limited liability company and a single purpose bankruptcy remote entity with at least one independent director for which the Extra Space Portfolio Borrower's legal counsel has delivered a non-consolidation opinion. The borrower principal is Extra Space Storage LLC. o Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust that invests in self-storage facilities by acquiring or developing wholly owned facilities or by acquiring an equity interest in real estate entities. The company is publicly traded on the NYSE under the ticker symbol "EXR". As of December 31. 2005, the company held ownership interests in 546 properties located in 34 states, including Washington D.C. with an aggregate of approximately 38 million square feet of net rentable space. Of these 546 properties, 192 are wholly owned and 354 are owned in joint venture partnerships. An additional 85 properties are owned by franchisees or third development, and rental operations. The company's property management and development activities include acquiring, managing, developing and selling self-storage facilities. As of year-end 2005, the company reported a net worth of $480.1 million. o Extra Space is a repeat borrower of GECC. THE MORTGAGED PROPERTY: o The Extra Space Portfolio Mortgaged Property consists a fee simple interest in a portfolio of nine self-storage properties containing a total of 6,872 units located in six states: New York (2 properties, 2,076 units, 30.2% of total units), California (2 properties 1,382 units, 20.1%), Washington State (2 properties, 1,250 units, 18.2%), Florida (1 property, 861 units, 12.5%), New Jersey (1 property, 813 units, 11.8%) and Georgia (1 property, 490 units, 7.1%). The properties were built between 1950 and 2003, one of which was renovated in 1998. Extra Space Bronx -- Extra Space Bronx is located in Bronx, NY, on Fordham Road. The property has 59,000 net rentable square feet in a four-story building containing 1,270 units. The property was converted into self-storage in 1998 from an existing industrial building. As of March 9, 2006, the property is 75.2% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 1,138,393 and reported average household income was $38,184. Monthly rent comparables for a 100 square feet self-storage unit ranged from $210 to $239 with that of Extra Space Bronx at $243. Vacancy comparables ranged from 3% to 17% with an average of 9%. Extra Space Venice -- Extra Space Venice is located in Venice, FL, approximately 60 miles south of Tampa. The property has 80,942 net rentable square feet in three buildings containing 861 units. The property was built in 2001. As of March 9, 2006, the property is 81.0% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 44,581 and reported average household income was $50,507. Monthly rent comparables for a 100 square feet self-storage unit ranged from $106 to $127 with that of Extra Space Venice at $134. Vacancy comparables ranged from 3% to 20% with an average of 13%. Extra Space Sherman Oaks -- Extra Space Sherman Oaks is located in Sherman Oaks, CA, approximately 13 miles northwest of the Los Angeles CBD. The property has 91,545 net rentable square feet in three connecting sections containing 843 units. The property was built in 1998. As of April 24, 2006, the property is 87.5% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 213,647 and reported average household income was $76,320. Monthly rent comparables for a 100 square feet self-storage unit ranged from $140 to $299 with that of Extra Space Sherman Oaks at $235. Vacancy comparables ranged from 8% to 20% with an average of 12%. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 76 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- Extra Space Hoboken -- Extra Space Hoboken is located in Hoboken, NJ, which is directly west of Manhattan. The property has 56,873 net rentable square feet in one four-story building containing 813 units. The property was built in 2002. As of March 13, 2006, the property is 97.0% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 710,264 and reported average household income was $78,564. Monthly rent comparables for a 100 square feet self-storage unit ranged from $149 to $205 with that of Extra Space Hoboken at $211. Vacancy comparables ranged from 0% to 19% with an average of 13%. Extra Space Nanuet -- Extra Space Nanuet is located in Nanuet, NY, approximately 30 miles north of New York City. The property has 58,213 net rentable square feet in a two-story building containing 806 units. The property was built in 2001. As of March 13, 2006, the property is 85.1% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 115,539 and reported average household income was $91,926. Monthly rent comparables for a 100 square feet self-storage unit ranged from $148 to $178 with that of Extra Space Nanuet at $167. Vacancy comparables ranged from 6% to 19% with an average of 11%. Extra Space Lakewood 80th Street -- Extra Space Lakewood 80th Street is located in Lakewood, WA, near the city limits. The property has 100,270 net rentable square feet in seventeen, one-story buildings containing 632 units. The property was built in 1997. As of April 30, 2006, the property is 82.5% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 115,911 and reported average household income was $48,946. Monthly rent comparables for a 100 square feet self-storage unit ranged from $75 to $114 with that of Extra Space Lakewood 80th Street at $73. Vacancy comparables averaged 16%. Extra Space Lakewood Pacific Highway -- Extra Space Lakewood Pacific Highway is located Lakewood, WA, east of the central business area. The property has 73,610 net rentable square feet in seven buildings containing 618 units. The property was built in 2003. As of April 30, 2006, the property is 87.7% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 69,239 and reported average household income was $54,868. Monthly rent comparables for a 100 square feet self-storage unit ranged from $78 to $114 with that of Extra Space Lakewood Pacific Highway at $85. Vacancy comparables ranged from 5% to 20% with an average of 11%. Extra Space Manteca -- Extra Space Manteca is located Manteca, CA, approximately 60 miles south of Sacramento. The property has 60,225 net rentable square feet in nine, one-story buildings containing 539 units. The property was built in 2000. As of April 28, 2006, the property is 85.0% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 60,888 and reported average household income was $65,801. Monthly rent comparables for a 100 square feet self-storage unit ranged from $69 to $105 with that of Extra Space Manteca at $82. Vacancy comparables ranged from 7% to 28% with an average of 18%. Extra Space Dacula -- Extra Space Dacula is located Dacula, GA, approximately 35 miles northeast of the Atlanta CBD. The property has 68,630 net rentable square feet in seven one-story buildings containing 490 units. The property was built in 2001. As of March 9, 2006, the property is 85.6% occupied. According to the appraisal, as of 2004, within a 3-mile radius of the property, the population was 24,008 and reported average household income was $96,947. There are currently no competitors in the 3-mile and 5-mile ring. Monthly rent comparables outside of the 3-mile and 5-mile ring for a 100 square feet self-storage unit ranged from $75 to $89 with that of Extra Space Dacula at $91. Vacancy comparables ranged from 15% to 37% with an average of 25%. o The Extra Space Portfolio Borrower is generally required at its sole cost and expense to keep the Extra Space Portfolio Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. PROPERTY MANAGEMENT: o The Extra Space Portfolio is self-managed by the Extra Space Portfolio Borrower. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 77 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- COLLATERAL RELEASE: o At any time following the defeasance lockout period and provided that no event of default has occurred and is continuing, partial releases of individual properties is permitted subject to certain conditions, including (i) payment of partial defeasance deposit equal to 125% of allocated loan amount for the release property; (ii) debt service coverage ratio of remaining properties must be at least greater of (a) 1.20x or (b) combined property debt service coverage ratio prior to release; and (iii) no releases are permitted to affiliates or Borrower parties, or in connection with refinance or recapitalization. CURRENT MEZZANINE OR SUBORDINATE INDEBTEDNESS: o None. FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o Not Allowed. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 78 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- EXTRA SPACE PORTFOLIO - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 79 (This Page Intentionally Left Blank) BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- [PHOTO OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 80 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- LOAN SELLER: GECC LOAN PURPOSE: Acquisition ORIGINAL PRINCIPAL BALANCE: $53,000,000 FIRST PAYMENT DATE: July 1, 2006 TERM/AMORTIZATION: 60/0 months INTEREST ONLY PERIOD: 60 months MATURITY DATE: June 1, 2011 EXPECTED MATURITY BALANCE: $53,000,000 BORROWING ENTITY: MGP Park Place, LLC INTEREST CALCULATION: Actual/360 CALL PROTECTION: Lockout/Defeasance: 47 payments Open: 13 payments ADDITIONAL FINANCING (1): $6,500,000 in existing mezzanine indebtedness. FUTURE MEZZANINE DEBT (1): Yes UP-FRONT RESERVES: TAX/INSURANCE RESERVE: Yes OTHER RESERVE (2): $383,145 ONGOING MONTHLY RESERVES: TAX/INSURANCE RESERVE: Yes REPLACEMENT RESERVE: $6,918 TI/LC RESERVE $11,106 LOCKBOX: Hard - -------------------------------------------------------------------------------- (1) See Current and Future Mezzanine Debt or Subordinate Indebtedness herein. (2) Other reserve includes $358,791 which is related to contractual rent escalations for three tenants: Georgia Pacific, BTI Business Telecom and Voicecom Telecommunications. The balance of the reserve, $24,354, is related to the leasing renewal for Cushman & Wakefield. The tenant renewed its lease post loan closing at terms in accordance with the loan document requirements. - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE: $53,000,000 CUT-OFF DATE LTV: 78.9% MATURITY DATE LTV: 78.9% UNDERWRITTEN DSCR: 1.50x MORTGAGE RATE: 6.200% - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL INFORMATION - -------------------------------------------------------------------------------- PROPERTY TYPE: Office PROPERTY SUB-TYPE: Central Business District LOCATION: Atlanta, Georgia YEAR BUILT/RENOVATED: 1983/NA NET RENTABLE SQUARE FEET: 553,468 CUT-OFF BALANCE PER SF: $96 OCCUPANCY AS OF MARCH 31, 2006: 70.6% OWNERSHIP INTEREST: Fee PROPERTY MANAGEMENT: MGP Georgia Management LLC UNDERWRITTEN NET CASH FLOW: $5,001,712 APPRAISED VALUE: $67,200,000 - -------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 81 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- FINANCIAL INFORMATION YEAR-TO-DATE FULL YEAR FULL YEAR ANNUALIZED (12/31/2004) (12/31/2005) (2/28/2006) UNDERWRITTEN ------------ ------------ ------------ ------------- Effective Gross Income ........ $11,556,177 $9,104,127 $9,294,486 $9,775,219(1) Total Expenses ................ $ 4,548,903 $4,411,143 $4,507,720 $4,586,290 Net Operating Income (NOI) .... $ 7,007,274 $4,692,984 $4,786,766 $5,188,929 Cash Flow (CF) ................ $ 7,007,274 $4,692,984 $4,786,766 $5,001,712 DSCR on NOI ................... 2.10x 1.41x 1.44x 1.56x DSCR on CF .................... 2.10x 1.41x 1.44x 1.50x(2) (1) Figure include $358,791 of contractual rent escalations underwritten for the first three loan years of the loan term which was collected at closing as Other Reserve. (2) Underwritten DSCR on CF is 1.28x were the loan structured with a 30-year amortization schedule. TENANT INFORMATION(1) TOTAL % OF % RATINGS TENANT TOTAL RENT POTENTIAL POTENTIAL LEASE TOP TENANTS MOODY'S/S&P SF SF PSF RENT RENT EXPIRATION - ------------------------------- ----------- ------- ----- ------ ---------- --------- ---------- Georgia Pacific ............... NR/B 331,391 59.9% $19.75 $6,544,972 83.6% 04/30/2014 ITC Deltacom .................. Not Rated 14,195 2.6 $24.00 340,680 4.3 04/30/2007 Remaining Tenants ............. NAP 44,935 8.1 $21.07 946,664 12.1 Various ------- ---- ---------- ----- TOTAL ......................... 390,521 70.6% $7,832,316 100.0% (1) Information obtained from underwritten rent roll except for Ratings (Moody's/S&P) and unless otherwise stated. Credit Ratings are of the parent company whether or not the parent guarantees the lease. Calculations with respect to Rent PSF, Potential Rent and % Potential Rent include base rent only and exclude common area maintenance and reimbursements. LEASE ROLLOVER SCHEDULE(1) # OF LEASES EXPIRING % OF TOTAL CUMULATIVE CUMULATIVE % OF BASE RENT YEAR OF EXPIRATION EXPIRING SF SF TOTAL SF TOTAL SF EXPIRING - ------------------ ----------- -------- ---------- ---------- --------------- ---------- 2006 ............. 0 0 0.0% 0 0.0% $ 0 2007 ............. 3 23,340 4.2 23,340 4.2% $ 545,332 2008 ............. 1 1,360 0.2 24,700 4.5% $ 27,200 2009 ............. 1 13,152 2.4 37,852 6.8% $ 312,983 2010 ............. 1 5,087 0.9 42,939 7.8% $ 30,522 2011-2014 ........ 4 347,582 62.8 390,521 70.6% $6,916,280 Vacant ........... -- 162,947 29.4 553,468 100.0% -- -- ------- ----- TOTAL. ........... 10 553,468 100.0% (1) Information obtained from underwritten rent roll. The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 82 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- SUMMARY OF SIGNIFICANT TENANTS As of March 31, 2006, the 55 Park Place Mortgaged Property is 70.6% occupied by ten tenants. Georgia Pacific, the largest tenant occupies approximately 331,391 square feet on eleven floors. No other tenant at the property comprises more than 2.6% of the total net rentable area. o GEORGIA PACIFIC (not rated by Moody's and rated "B" by S&P) occupies a total of 331,391 square feet (59.9% of square feet, 83.6% of income) under a lease that is in its first ten-year renewal period and expiring on April 30, 2014. Georgia Pacific, in occupancy since 1994, has expanded its space on six occasions. The current rental rate per square foot of $19.75 increases to $20.65 and $21.55 on May 1, 2007 and May 1, 2010, respectively. The lease provides for two five-year options to renew at a rental rate per square foot equal to 95% of the then fair market. Georgia Pacific must provide a 12-month notice to renew. Georgia Pacific, purchased by Koch Industries, Inc. December 2005 for $21 billion, is one of the largest privately held companies in the United States. Koch Industries, Inc. is based in Wichita, Kansas and owns a diverse group of companies engaged in trading, investment and operations with companies in 50 countries and has employees totaling 80,000. Georgia Pacific is a manufacturer and marketer of tissue, packaging, paper, building products, pulp and related chemicals and currently employs 55,000 people at more than 300 locations in North America and Europe and its headquarters is adjacent to the 55 Park Place Mortgaged Property. The 55 Park Place Mortgaged Property houses Georgia Pacific's Building Products Division, one of the key components of Koch Industries, Inc.'s acquisition in December 2005. Georgia Pacific's 2004 annual sales totaled approximately $20 billion. o ITC DELTACOM occupies a total of 14,195 square feet (2.6% of square feet, 4.3% of income) under a lease that expires April 30, 2007. The current rental rate is $24.00 per square foot. ITC Deltacom has its switching station located at the property. 83 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ADDITIONAL INFORMATION - -------------------------------------------------------------------------------- THE LOAN: o The 55 Park Place Mortgage Loan is a $53.0 million, five-year fixed rate loan secured by a first mortgage on an office building located in Atlanta, Fulton County, Georgia. The 55 Park Place Mortgage Loan is interest-only for the entire loan term and matures June 1, 2011 at an annual interest rate of 6.200%. THE BORROWER: o The borrower is MGP Park Place, LLC, a Delaware limited liability company and a single purpose entity whose managing member has an independent director. The sponsor of the borrower is MGP Real Estate, LLC. Allied Capital Corporation has 70% equity ownership in the borrower. Andrew O. Eshelman and Charles A. Salcetti, principals of MGP Real Estate, each have 5% equity ownership in the borrower, with the remaining 20% held with individual investors. Allied Capital Corporation (NYSE: ALD) is a publicly traded investment firm specializing in growth capital investments, recapitalizations, acquisitions, buyouts, note purchases, and bridge financing and typically makes mezzanine and equity investments in the middle market companies. Founded in 1958, Allied Capital went public in 1960 and today has over $4 billion in total assets. o MGP Real Estate, LLC is a privately held real estate development, investment and management company headquarted in Bethesda, Maryland. Founded in 1980, MGP has developed or acquired approximately 10.5 million square feet of properties in the Washington, D.C. metropolitan area and currently maintains a portfolio of 2.2 million square feet. THE MORTGAGED PROPERTY: o The 55 Park Place Mortgaged Property consists of a fee simple interest in a 19-story freestanding Class "A" office tower totaling 553,468 square feet built in 1983. Amenities at the property include a seven-story atrium consisting of granite floors and walls and configured in a rectangular or U-shape that surrounds the central atrium core. Retail storefronts adjoin the lobby. The property provides 24-hour manned security. There are 12 elevators that service the property. Parking is available at the property and consists of a subterranean parking deck and an open surface lot containing a total of 345 parking spaces. The property is located in the central business district of Atlanta, Georgia. The predominant land use within the property's immediate area is comprised of 4 to 30-story office buildings. Several older office buildings have recently been renovated providing revitalization to the area with the opening of new restaurants and hotels. An extensive fiber optic network is located in the downtown area and has resulted in telecom and internet oriented users occupying the older office and industrial properties along Marietta Street. Reis reported the Class "A" inventory in downtown Atlanta office submarket contained 9,963,000 net rentable square feet and represented 63% of the total inventory at the end of second quarter of 2006. Class "A" office vacancy was down 1.0% from the prior quarter to 15.9% and asking rents were $24.43 per square foot at the end of second quarter of 2006. PROPERTY MANAGEMENT: o MGP Georgia Management LLC, an affiliate of the sponsor, manages the property. MGP Georgia Management LLC entered into a Submanagement Agreement with Cushman & Wakefield of Georgia, Inc. in May of 2006. The Submanagement Agreement delegates management at the property to Cushman & Wakefield. Cushman & Wakefield has been the property manager since original construction of the property and is currently a tenant at the property with a lease maturity date of May 31, 2011. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 84 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CURRENT MEZZANINE AND FUTURE MEZZANINE OR SUBORDINATE INDEBTEDNESS: o The 55 Park Place borrower is allowed to incur mezzanine debt to mezzanine lender approved by the mortgagee, not to exceed the lesser of (i) the principal amount of $12,000,000 or (ii) an amount which will result in an aggregate indebtedness evidenced by the loan plus such mezzanine debt that produces an LTV of no more than 90%, a Debt Service Coverage Ratio of no less than 1.10x and is secured by a pledge of the membership interests in the borrower and by any assets of the members other than 55 Park Place. o On May 31, 2006, MGP Park Place Equity, LLC, the 100% equity member to the borrower incurred $6,500,000 of mezzanine debt from Allied Capital Corporation for the acquisition of the property. The mezzanine loan accrues interest at 10.0% and the mezzanine lender entered into an intercreditor agreement.The remaining balance of $5,500,000 to be funded from the mezzanine loan made by Allied Capital Corporation is anticipated to be drawn to fund tenant improvements and leasing commissions associated with the lease-up of the vacant space. All advances are subject to the underlying senior loan document requirements. SUBORDINATE COMPONENT: o None. - ------------------------------------------------------------------------------- The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 85 BANC OF AMERICA COMMERCIAL MORTGAGE INC., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 - -------------------------------------------------------------------------------- 55 PARK PLACE - -------------------------------------------------------------------------------- [MAP OMITTED] The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you e-mail a request to dg.prospectus_distribution@bofasecurities.com. The securities may not be suitable for all investors. Banc of America Securities LLC and the other Underwriters and their affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer. See "Important Notice Regarding the Offered Certificates" in this free writing prospectus. 86