Banc of America Merrill Lynch Commercial Mortgage 8K Other events | SEC 12 Nov 03

Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-2


Lead-Mgr/Bks:		Banc of America
Co-Managers:		Bear Stearns/Deutsche Bank/Goldman Sachs/Wachovia ($25mm retention 10yr AAA’s each)
Rating Agencies:		S&P and Fitch


Public
Class	Approx. Size		Rating	Credit					Principal
Status	(Face)		(S/F)	Support			WAL		Win. (mo.)	Gdnce.	Status

A-1		$138,224,308	AAA/AAA		17.750	%		3.50	1-56	22-23
A-2		106,288,110	AAA/AAA		17.750	%		5.95	56-83	26-27
A-3		168,137,151	AAA/AAA		17.750	%		8.35	83-111	33-34
A-4		482,251,227	AAA/AAA		17.750	%		9.56	111-118	34-35
B		56,665,470	AA/AA		14.375	%		9.89	119-119	A4+8
C		20,987,211	AA-/AA-		13.125	%		9.89	119-119	B+4
D		44,073,144	A/A		10.500	%		10.21	119-129	B+9
E		23,085,932	A-/A-		9.125	%		10.73	129-129	D+9


Collateral:		150 Loans/152 Properties
-Loan Sellers:		BoA 100%
-Property Types:		Off 35.7%, Multi/MH 31.3%, Ret 22.2%, Indus 6.8%, SS 3.3%, Hotel 0.8%
-Geographic:		NY: 20.5%, TX: 14.0%, IL: 7.5%, CA: 6.6%(No CA: 3.5, So Ca: 3.1%), VA: 6.2%, FL: 6.1%, No Other >5%
-DSCR:		1.59x Current LTV: 68.3% Balloon LTV: 58.7%
-Investment Grade

Loans:		3 loans for 18.1% of UPB
-Top 10 loans:		33.7% of the pool DSCR: 1.93x LTV, 58.0%


					Anticipated
					Shadow Ratings
-Top 3 Trust Assets	DSCR	LTV			(S&P/FITCH)	%UPB
Hines-Sumitomo	2.66x		45.3	%	AAA/AAA		9.5	%
1328 Broadway	1.96x		49.4	%	AA/A		5.9	%
Newgate Mall	1.86x		57.0	%	BBB-/BBB-		2.7	%

The above information relates to the Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2003-2. This message is for information purposes only and we are not soliciting any action based upon it. The information herein is believed reliable but it should not be relied upon as such and is subject to change without notice.

Banc of America Securities LLC and its affiliates may acquire, hold or sell positions in these securities or in related derivatives and may have an investment banking or banking relationship with the issuer. Information herein will be superseded by information in the final prospectus, copies of which may be obtained from David Gertner / Manish Parwani at Banc of America Securities LLC, 214 North Tryon Street, Charlotte, NC 28255. Such securities may not be suitable for all investors.

CMBS New Issue Term Sheet

$1,039,712,553 (Approximate Offered Certificate Balance as of the Commencement Date)

$1,680,036,895 (Collateral Balance as of the Cut-off Date)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates

Series 2003-2

Offered Classes A-1, A-2, A-3, A-4, B, C, D and E Certificates

Bank of America, N.A.

Mortgage Loan Seller

Bank of America, N.A.

Master Servicer

Midland Loan Services, Inc.

Special Servicer

October 2003

This material is for your private information and none of Banc of America Securities LLC, Bear, Stearns & Co. Inc., Deutsche Bank Securities, Inc., Goldman, Sachs & Co. and Wachovia Capital Markets, LLC (collectively, the “Underwriters”) is not soliciting any action based upon it. This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. None of the Underwriters nor any of their affiliates has conducted any independent review of the information contained herein, and none of the Underwriters nor any of their affiliates represent that such information is accurate or complete and the information should not be relied upon as such. By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may pertain to securities that ultimately are not sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected herein. The Underwriters make no representation regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes. The Underwriters and their affiliates, officers, directors, partners and employees, including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy and sell, the securities mentioned therein or derivatives thereof (including options). This material may be filed with the Securities and Exchange Commission (the “SEC”) and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, amended including all cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement. Information contained in this material is current as of the date appearing in this material only. Information in this material regarding any assets backing any securities discussed herein supersedes all prior information regarding such assets. Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded in its entirety by the information contained in any final prospectus and prospectus supplement for any securities actually sold to you, which you should read before making any investment decision. This material is furnished solely by the Underwriters and not by the issuer of the securities. The issuer of the securities has not prepared, reviewed or participated in the preparation of this material, is not responsible for the accuracy of this material and has not authorized the dissemination of this material. Each of the Underwriters is acting as an Underwriter and not acting as an agent for the issuer in connection with the proposed transaction.

Sole Lead Manager and Bookrunner

Banc of America Securities LLC

Bear, Stearns & Co. Inc.


	Deutsche Bank Securities


	Goldman, Sachs & Co.


	Wachovia Securities

TABLE OF CONTENTS


Transaction Structure




	Structure Overview	3




	Structure Schematic	4




	Transaction Terms	5




	Contact Information	8

Mortgage Pool Characteristics




	General Characteristics	9




	Property Type	10




	Property Location	11




	Mortgage Pool Characteristics	12




	Loan Group 1 Characteristics	13




	Loan Group 2 Characteristics	14




	Prepayment Provision Based on Outstanding Principal Balance	15





Ten Largest Mortgage Loans or Crossed Pools		16




	Hines Sumitomo Life Office Portfolio	17




	1328 Broadway	26




	Newgate Mall	32




	Sterling Estates Manufactured Home Community	38




	Nestle Industrial — DeKalb	43




	Colonnade Office Building	48




	4501 North Fairfax Office Building	54




	Harrison Park Apartments	59




	Suntree Village Apartments	64




	Cypress Creek Apartments	69




	KPMG Centre	74





Additional Mortgage Loan Information		80

(This Page Intentionally Left Blank)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Structure Overview

OFFERED CERTIFICATES


		Expected				Approx.
		Ratings				% of			Approx.			Weighted
				Certificate		Initial			Credit			Average
Class		S&P/Fitch		Balance(1)		Pool Balance(1)			Support			Life (yrs)(2)


	A-1(7)		AAA/AAA	$	138,224,308		8.233	%		17.750	%		3.50

	A-2(7)		AAA/AAA	$	106,288,110		6.331	%		17.750	%		5.95

	A-3(7)		AAA/AAA	$	118,137,151		7.036	%		17.750	%		8.05

	A-4(7)		AAA/AAA	$	532,251,227		31.701	%		17.750	%		9.51

	B		AA/AA	$	56,665,470		3.375	%		14.375	%		9.89

	C		AA-/AA-	$	20,987,211		1.250	%		13.125	%		9.89

	D		A/A	$	44,073,144		2.625	%		10.500	%		10.21

	E		A-/A-	$	23,085,932		1.375	%		9.125	%		10.73

[Additional columns below]

[Continued from above table, first column(s) repeated]


		Principal
		Window
Class		(mos)(2)


	A-1(7		1-56
	A-2(7		56-83
	A-3(7		83-107
	A-4(7		107-118
	B		119-119
	C		119-119
	D		119-129
	E		129-129

[Additional columns below]

[Continued from above table, first column(s) repeated]


		Assumed
		Final
Class		Distribution Date(2)		Rate Type


	A-1(7		07/11/2008		Fixed
	A-2(7		10/11/2010		Fixed
	A-3(7		10/11/2012		Fixed(3)
	A-4(7		09/11/2013		Fixed(3)
	B		10/11/2013		Fixed(3)
	C		10/11/2013		Fixed(3)
	D		08/11/2014		Fixed(3)
	E		08/11/2014		Fixed(3)

NON-OFFERED CERTIFICATES


		Expected					Approx.
		Ratings					% of			Approx.			Weighted		Principal		Assumed
				Certificate			Initial			Credit			Average		Window		Final
Class		S&P/Fitch		Balance(1)			Pool Balance(1)			Support			Life (yrs)(2)		(mos)(2)		Distribution Date(2)


	A-1A(7)		AAA/AAA	$	486,057,698			28.950	%		17.750	%		8.03		(Not Offered)		(Not Offered)

	F		BBB+/BBB+	$	20,987,211			1.250	%		7.875	%		10.73		(Not Offered)		(Not Offered)

	G		BBB/BBB	$	23,085,932			1.375	%		6.500	%		10.73		(Not Offered)		(Not Offered)

	H		BBB-/BBB-	$	20,987,211			1.250	%		5.250	%		11.42		(Not Offered)		(Not Offered)

	J		BB+/BB+	$	18,888,490			1.125	%		4.125	%		11.64		(Not Offered)		(Not Offered)

	K		BB/BB	$	10,493,606			0.625	%		3.500	%		11.73		(Not Offered)		(Not Offered)

	L		BB-/BB-	$	10,493,606			0.625	%		2.875	%		13.63		(Not Offered)		(Not Offered)

	M		B+/B+	$	8,394,884			0.500	%		2.375	%		14.89		(Not Offered)		(Not Offered)

	N		B/B	$	8,394,885			0.500	%		1.875	%		14.89		(Not Offered)		(Not Offered)

	O		B-/B-	$	4,197,442			0.250	%		1.625	%		14.89		(Not Offered)		(Not Offered)

	P		NR/NR	$	27,283,375			1.625	%		0.000	%		14.89		(Not Offered)		(Not Offered)

	XC		AAA/AAA	$	1,678,976,893	(6		) N/A			N/A			N/A		N/A		(Not Offered)

	XP		AAA/AAA		TBD(6)			N/A			N/A			N/A		N/A		(Not Offered)

[Additional columns below]

[Continued from above table, first column(s) repeated]


Class		Rate Type


	A-1A(7		Fixed(3)
	-
	F		WAC(4)
	-
	G		WAC(4)
	-
	H		WAC(4)
	-
	J		Fixed(5)
	-
	K		Fixed(5)
	-
	L		Fixed(5)
	-
	M		Fixed(5)
	-
	N		Fixed(5)
	-
	O		Fixed(5)
	-
	P		Fixed(5)
	-
	XC		Variable Rate(6)
	-
	XP		Variable Rate(6)
	-


(1)	Subject to a variance of plus or minus 10%.

(2)	As of the Commencement Date, the Weighted Average Life, Principal Window and Assumed Final Distribution Date were calculated assuming no prepayments will be made on the Mortgage Loans prior to their related maturity dates (or, in the case of ARD Loans, their Anticipated Repayment Dates) and the other assumptions set forth under “Yield and Maturity Considerations — Yield Considerations” in the prospectus supplement.

(3)	The Class A-3, Class A-4, Class A-1A, Class B, Class C, Class D and Class E Certificates will accrue interest at either (i) a fixed rate (assuming receipt of all scheduled payments through the Commencement Date and there are no prepayments other than those actually received prior to that Commencement Date), (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.

(4)	The Class F, Class G and Class H Certificates will accrue interest at a rate equal to the Weighted Average Net Mortgage Rate.

(5)	The Class J, Class K, Class L, Class M, Class N, Class O and Class P Certificates will accrue interest at a fixed rate subject to a cap at the Weighted Average Net Mortgage Rate.

(6)	The Class XC and Class XP Certificates will not have Certificate Balance and their holders will not receive distributions of principal, but these holders are entitled to receive payments of the aggregate interest accrued on the Notional Amount of the Class XC and Class XP Certificates as described in the preliminary prospectus supplement.

(7)	For purposes of making distributions to the Class A-1, Class A-2, Class A-3, Class A-4 and Class 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 109 Mortgage Loans, representing approximately 71.1% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will consist of 41 Mortgage Loans, representing approximately 28.9% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will include approximately 100.0% of the aggregate principal balance of all the Mortgage Loans secured by multifamily properties and approximately 58.9% of the aggregate principal balance of all the Mortgage Loans secured by manufactured housing properties.

Generally, the Class A-1, Class A-2, Class A-3 and Class 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-4 Certificates has been reduced to zero. However, on and after any distribution date on which the Certificate Balances of the Class B through Class P 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, Class A-2, Class A-3, Class A-4 and Class A-1A Certificatespro rata.

NOTES

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Structure Schematic*

(Administrative Fee Chart)


*	Classes are not drawn to scale. Percentages are approximate percentages of the Mortgage Pool balance as of the Commencement Date.

(1)	For purposes of making distributions to the Class A-1, Class A-2, Class A-3, Class A-4 and Class 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 109 Mortgage Loans, representing approximately 71.1% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will consist of 41 Mortgage Loans, representing approximately 28.9% of the aggregate principal balance of the pool of Mortgage Loans as of the Cut-off Date. Loan Group 2 will include approximately 100.0% of the aggregate principal balance of all the Mortgage Loans secured by multifamily properties and approximately 58.9% of the aggregate principal balance of all the Mortgage Loans secured by manufactured housing properties.

Generally, the Class A-1, Class A-2, Class A-3, and Class 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-4 Certificates has been reduced to zero. However, on and after any distribution date on which the Certificate Balances of the Class B through Class P 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, Class A-2, Class A-3, Class A-4 and Class A-1A Certificatespro rata.


(2)	Offered privately pursuant to Rule 144A and Regulation S.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Transaction Terms


	NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE MEANINGS ASCRIBED TO THEM IN THE PROSPECTUS SUPPLEMENT DATED OCTOBER 2003.


Issue Type		Sequential pay REMIC. Class A-1, A-2, A-3 and Class A-4 Certificates (together, the “Class A Certificates”), and Class B, C, D and E Certificates (together with the Class A Certificates, the “Offered Certificates”) are offered publicly.

Commencement Date		November 1, 2003.

Cut-off Date		All Mortgage Loan characteristics are based on balances as of the Cut-off Date, October 1, 2003. All percentages presented herein are approximate.

Mortgage Pool		The Mortgage Pool consists of 150 Mortgage Loans (the “Mortgage Loans”) with an aggregate balance as of the Cut-off Date of $1,680,036,895 (the “Initial Pool Balance”). The Mortgage Pool will be deemed to consist of 2 loan groups (“Loan Group 1” and “Loan Group 2”). Loan Group 1 will consist of (i) all of the Mortgage Loans that are not secured by Mortgaged Properties that are multifamily properties or manufactured housing properties and (ii) 6 Mortgage Loans that are secured by Mortgaged Properties that are manufactured housing properties. Loan Group 2 will consist of 37 Mortgage Loans that are secured by multifamily properties and 4 Mortgage Loans that are secured by manufactured housing properties. Loan Group 1 is expected to consist of 109 Mortgage Loans with an aggregate balance as of the Cut-off Date of $1,193,803,978 (the “Loan Group 1 Balance”). Loan Group 2 is expected to consist of 41 Mortgage Loans with an aggregate balance as of the Cut-off Date of $486,232,917 (the “Loan Group 2 Balance”). The Initial Pool Balance, the Loan Group 1 Balance and the Loan Group 2 Balance do not reflect the principal balance of the BW Subordinate Components, the Hines Sumitomo Note B Loan, the Hines Sumitomo Senior Companion Note A-2, any CLF B Note or CBA B Note, and any references to the principal balance of the Mortgage Pool or similar references excludes such loans unless expressly stated otherwise. The Mortgage Loans are secured by 152 properties (the “Mortgaged Properties”) located throughout 36 states and the District of Columbia.

Depositor		Banc of America Commercial Mortgage Inc.

Mortgage Loan Seller		Bank of America, N.A.

Underwriters		Banc of America Securities LLC is acting as lead manager and bookrunner with respect to all Classes of Offered Certificates. Bear, Stearns & Co. Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Wachovia Capital Markets, LLC are acting as co-managers.

Trustee		Wells Fargo Bank Minnesota, N.A.

Master Servicer		Bank of America, N.A.

Special Servicer		Midland Loan Services, Inc.

Rating Agencies		Standard and Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., (“S&P”) and Fitch Ratings (“Fitch”).

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Transaction Terms


Denominations		$10,000 minimum for Class A Certificates and $100,000 minimum for all other Offered Certificates.

Settlement Date		On or about November , 2003.

Settlement Terms		Book-entry through DTC for all Offered Certificates.

Distribution Date		The 11th day of each month, or if such 11th day is not a business day, the next succeeding business day, commencing with respect to the Offered Certificates in December 2003.

Determination Date		For any Distribution Date, the fifth 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, Class A-2, Class A-3, Class A-4, Class A-1A, Class XC and Class 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 alphabetical numerical Class designation until its Certificate Balance is reduced to zero. Generally, the Class A-1, Class A-2, Class A-3 and Class 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-4 Certificates has been reduced to zero. If, due to losses, the Certificate Balances of the Class B through Class P Certificates are reduced to zero but if any two or more of Class A-1, Class A-2, Class A-3, Class A-4 and/or Class A-1A Certificates remain outstanding, payments of principal to the outstanding Class A-1, Class A-2, Class A-3, Class A-4 and Class A-1A Certificates will be made on a pro rata basis.

Losses		To be applied first to Class P, then to the next most subordinate Class of Sequential Pay Certificates, etc.

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.

Advances		Subject to certain limitations, including, but not limited to, a recoverability determination, the Master Servicer will be required to advance certain principal, interest and other expenses. In the event that the Master Servicer fails to make such advances, the Trustee will be required to do so.

Appraisal Reductions		Following the occurrence of: (1) any Mortgage Loan or Whole Loan becoming a Modified Mortgage Loan; (2) any Monthly Payment with respect to any Mortgage Loan or Whole Loan remains unpaid for 60 days past the Due Date for such payments; (3) the passage of 60 days after the Special Servicer receives notice that the mortgagor under such Mortgage Loan or Whole Loan becomes the subject of bankruptcy, insolvency or similar

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Transaction Terms

proceedings, which remain undischarged and undismissed; (4) the passage of 60 days after the Special Servicer receives notice that a receiver or similar official is appointed with respect to the related Mortgaged Property; or (5) the related Mortgaged Property becoming an REO Property, the Special Servicer will obtain an appraisal on the property. Advances of delinquent interest on the most subordinate class will be reduced to the extent of the interest on the Appraisal Reduction Amount. The Appraisal Reduction Amount will generally be equal to the difference between (a) the scheduled balance of the Mortgage Loan plus any unpaid advances outstanding and other amounts payable with respect thereto and (b) an amount equal to 90% of the appraised value of the Mortgaged Property.


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 aggregate 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 principal balance).

ERISA		The Offered Certificates are expected to be ERISA eligible.

SMMEA		The Offered Certificates arenot expected to be “mortgage-related securities” for the purposes of SMMEA.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Contact Information






Banc of America Securities LLC		Bear, Stearns & Co. Inc.
Bill Hale		Craig Sedmark
(704) 388-1597 (Phone)		(212) 272-4953 (Phone)
(704) 388-9677 (Fax)		(917) 849-0223 (Fax)
bill.e.hale@bankofamerica.com		csedmak@bear.com
Geordie Walker		Tim Koltermann
(704) 388-1597 (Phone)		(212) 272-4953 (Phone)
(704) 388-9677 (Fax)		(917) 849-0223 (Fax)
geordie.r.walker@bankofamerica.com		tkoltermann@bear.com
Chuck Mather		Jignesh Patel
(704) 388-1597 (Phone)		(212) 272-6184 (Phone)
(704) 388-9677 (Fax)		(917) 849-0223 (Fax)
charles.mather@bankofamerica.com		jignesh.patel@bear.com





Deutsche Bank Securities		Goldman, Sachs & Co.
Scott Waynebern		Rolf Edwards
(212) 250-5149 (Phone)		(212) 902-5637 (Phone)
(212) 797-5630 (Fax)		(212) 346-3594 (Fax)
scott.waynebern@db.com		rolf.edwards@gs.com
Dan Rikkers		Scott Wisenbaker
(212) 250-5149 (Phone)		(212) 902-2858 (Phone)
(212) 797-5630 (Fax)		(212) 346-3594 (Fax)
daniel.rikkers@db.com		scott.wisenbaker@gs.com

	Wachovia Securities
	Bob Ricci
	(704) 715-1235 (Phone)
	(704) 383-8777 (Fax)
	bob.ricci@wachovia.com
	Scott Fuller
	(704) 715-1235 (Phone)
	(704) 383-8777 (Fax)
	scott.fuller@wachovia.com

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Cut-off Date*


GENERAL CHARACTERISTICS	Mortgage Pool		Loan Group 1		Loan Group 2




Number of Mortgage Loans		150		109		41




Number of Mortgaged Properties		152		111		41




Aggregate Balance of all Mortgage Loans	$	1,680,036,895	$	1,193,803,978	$	486,232,917




Number of Balloon Payment Mortgage Loans(1)		142		101		41




Aggregate Balance of Balloon Payment Mortgage Loans(1)	$	1,455,975,873	$	969,742,956	$	486,232,917




Number of Anticipated Repayment Date Mortgage Loans		4		4		0




Aggregate Balance of Anticipated Repayment Date Mortgage Loans	$	53,300,428	$	53,300,428	$	0




Number of Fully Amortizing Mortgage Loans		1		1		0




Aggregate Balance of Fully Amortizing Mortgage Loans	$	2,185,594	$	2,185,594	$	0




Number of Interest Only Mortgage Loans		3		3		0




Aggregate Balance of Interest Only Mortgage Loans	$	168,575,000	$	168,575,000		0




Minimum Balance	$	675,700	$	675,700	$	1,571,751




Maximum Balance	$	160,000,000	$	160,000,000		40,500,000




Average Balance	$	11,200,246	$	10,952,330	$	11,859,339




Number of Cross-Collateralized and Cross-Defaulted Loan Pools		4		2		2




Maximum Balance for a Group of Cross-Collateralized and Cross-Defaulted Mortgage Loans	$	36,250,000	$	12,902,491	$	36,250,000




Weighted Average LTV Ratio		68.3%		64.9%		76.8%




Maximum LTV Ratio		84.1%		80.3%		84.1%




Minimum LTV Ratio		29.3%		29.3%		67.3%




Weighted Average DSCR		1.59x		1.70x		1.33x




Maximum DSCR		3.43x		3.43x		1.61x




Minimum DSCR		1.12x		1.12x		1.20x




Weighted Average LTV at Maturity or Anticipated Repayment Date(2)		58.7%		55.7%		66.0%




Range of Mortgage Loan Interest Rates		4.200%-7.970%		4.200%-7.970%		4.240%-6.990%




Weighted average Mortgage Loan Interest Rate		5.368%		5.402%		5.285%




Range of Remaining Term to Maturity or Anticipated Repayment Date (months)		52 - 180		52 - 178		56 - 180




Weighted Average Remaining Term to Maturity or Anticipated Repayment Date (months)		111		110		114


(1)	Excludes mortgage loans that are Interest Only for their full term, mortgage loans with Anticipated Repayment Dates and Fully Amortizing mortgage loans.

(2)	Excludes the mortgage loan that is fully amortizing.

The Cut-off Date Balance of 2 Mortgage Loans, Loan No. 57365 and Loan No. 57442 (such Loan Number is set forth in Annex A to the preliminary prospectus supplement) has been calculated based upon each of these Mortgage Loans having been divided into a senior component and one or more subordinate portions, and the related Cut-off Date Balance reflects only the outstanding principal balance of the senior portion as of the Cut-off Date. Each loan-to-value ratio and debt service coverage ratio calculated in this term sheet, except as may be otherwise noted herein, was calculated based only upon the senior portion of this Mortgage Loan. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the related subordinate portions were included.


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

NOTES

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Cut-off Date*

(PIE CHART)

PROPERTY TYPE


								Weighted				Weighted
		Number of	Aggregate		% of			Average			Min/Max	Average	Min/Max
		Mortgaged	Cut-off Date		Initial Pool			Underwriting			Underwriting	Cut-off Date	Cut-off Date
Property Types		Properties	Balance		Balance			DSCR			DSCR	LTV Ratio	LTV Ratio



Office		25	$	600,012,518		35.7	%		1.92	x	1.28x/2.66x	57.2%	45.3%/79.0%

Multifamily		37		429,458,486	��	25.6			1.33	x	1.20x/1.61x	76.8%	67.3%/84.1%

Retail		50		372,345,879		22.2			1.52	x	1.12x/3.43x	71.3%	29.3%/80.3%

	Anchored	30		294,973,324		17.6			1.50	x	1.12x/2.26x	72.2%	47.9%/80.3%

	Shadow Anchored	11		51,255,642		3.1			1.48	x	1.39x/1.67x	72.4%	63.2%/79.6%

	Unanchored	9		26,116,912		1.6			1.82	x	1.25x/3.43x	59.1%	29.3%/73.7%

Industrial		6		113,753,986		6.8			1.34	x	1.25x/1.84x	76.2%	64.7%/80.0%

Manufactured Housing Community		10		96,446,506		5.7			1.34	x	1.20x/1.73x	77.2%	69.6%/80.0%

Self-Storage		22		54,775,003		3.3			1.45	x	1.28x/1.88x	72.7%	65.1%/78.6%

Hotel		2		13,244,518		0.8			1.94	x	1.46x/2.46x	59.5%	50.2%/68.2%

Total/Wtd Avg		152	$	1,680,036,895		100.0	%		1.59	x	1.12x/3.43x	68.3%	29.3%/84.1%

[Additional columns below]

[Continued from above table, first column(s) repeated]


		Weighted
		Average
		Mortgage
Property Types		Rate


Office			5.132	%

Multifamily			5.301	%

Retail			5.690	%

	Anchored		5.630	%

	Shadow Anchored		5.891	%

	Unanchored		5.972	%

Industrial			5.794	%

Manufactured Housing Community			5.341	%

Self-Storage			5.308	%

Hotel			5.988	%

Total/Wtd Avg			5.368	%


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

NOTES

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Cut-off Date*

(MAP)

PROPERTY LOCATION


									Weighted			Weighted			Weighted
		Number of		Aggregate					Average			Average			Average
		Mortgaged		Cut-off Date		% of Initial			Underwriting			Cut-off Date			Mortgage
States		Properties		Balance		Pool Balance			DSCR			LTV Ratio			Rate



New York			8	$	344,282,458		20.5	%		2.13	x		52.6	%		5.118%

Texas			18		234,386,235		14.0			1.46	x		71.5	%		5.451%

Illinois			7		125,813,615		7.5			1.38	x		73.6	%		5.433%

California(1)			19		111,094,194		6.6			1.46	x		69.7	%		5.600%

	Northern		8		59,227,216		3.5			1.48	x		68.9	%		5.409%

	Southern		11		51,866,978		3.1			1.44	x		70.5	%		5.817%

Virginia			6		103,490,748		6.2			1.48	x		69.5	%		5.526%

Florida			12		102,572,680		6.1			1.44	x		72.7	%		5.686%

Arizona			6		72,795,951		4.3			1.24	x		77.6	%		5.409%

Utah			4		66,866,085		4.0			1.73	x		62.5	%		4.958%

Missouri			9		66,322,279		3.9			1.34	x		77.7	%		5.321%

District of Columbia			2		42,310,658		2.5			1.96	x		60.6	%		4.695%

Others			61		410,101,992		24.4			1.43	x		74.8	%		5.465%

Total/Wtd Avg			152	$	1,680,036,895		100.0	%		1.59	x		68.3	%		5.368%

(1)

For purposes of determining whether a Mortgaged Property is located in Northern California or Southern California, Mortgaged Properties located north of San Luis Obispo County, Kern County and San Bernardino County were included in Northern California and Mortgaged Properties located in and south of such counties were included in Southern California. The Hines Sumitomo Loan’s Cut-off Date Balance is allocated based upon amounts set forth in the Hines Sumitomo Loan documents.


-	The Mortgaged Properties are located throughout 36 states and the District of Columbia.


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

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


	675,700 – 999,999		2		1,634,599		0.1
	1,000,000 – 1,999,999		17		26,855,762		1.6
	2,000,000 – 2,999,999		21		54,095,638		3.2
	3,000,000 – 3,999,999		15		51,708,335		3.1
	4,000,000 – 4,999,999		18		80,329,905		4.8
	5,000,000 – 7,499,999		16		100,948,272		6.0
	7,500,000 – 9,999,999		9		76,081,396		4.5
	10,000,000 – 14,999,999		20		253,880,468		15.1
	15,000,000 – 19,999,999		10		171,212,974		10.2
	20,000,000 – 29,999,999		11		272,368,038		16.2
	30,000,000 – 160,000,000		11		590,921,508		35.2

	Total:		150		1,680,036,895		100.0

Min: $675,700 Max: $160,000,000 Average: $11,200,246

State




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Properties		Balance ($)		Pool


New York			8		344,282,458		20.5
Texas			18		234,386,235		14.0
Illinois			7		125,813,615		7.5
California			19		111,094,194		6.6
	Northern		8		59,227,216		3.5
	Southern		11		51,866,978		3.1
Virginia			6		103,490,748		6.2
Florida			12		102,572,680		6.1
Arizona			6		72,795,951		4.3
Utah			4		66,866,085		4.0
Missouri			9		66,322,279		3.9
Washington, DC			2		42,310,658		2.5
Others			61		410,101,992		24.4

Total:			152		1,680,036,895		100.0

Property Type




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Properties		Balance ($)		Pool


Office			25		600,012,518		35.7
Multifamily			37		429,458,486		25.6
Retail			50		372,345,879		22.2
	Anchored		30		294,973,324		17.6
	Shadow Anchored		11		51,255,642		3.1
	Unanchored		9		26,116,912		1.6
Industrial			6		113,753,986		6.8
Manufactured Housing			10		96,446,506		5.7
Self Storage			22		54,775,003		3.3
Hotel			2		13,244,518		0.8

Total:			152		1,680,036,895		100.0

Mortgage Rate (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	4.200 – 4.499		4		55,945,457		3.3
	4.500 – 4.749		3		54,768,040		3.3
	4.750 – 4.999		16		411,246,149		24.5
	5.000 – 5.249		26		175,596,225		10.5
	5.250 – 5.499		20		191,287,060		11.4
	5.500 – 5.749		37		413,563,296		24.6
	5.750 – 5.999		19		191,957,840		11.4
	6.000 – 6.249		11		85,673,885		5.1
	6.250 – 6.499		10		75,579,713		4.5
	6.500 – 7.970		4		24,419,229		1.5

	Total:		150		1,680,036,895		100.0

Min: 4.200% Max: 7.970% Wtd Avg: 5.368%

Original Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	60 – 83		20		122,866,654		7.3
	84 – 99		14		221,380,421		13.2
	100 – 120		98		1,094,109,349		65.1
	121 – 179		12		167,136,000		9.9
	180		6		74,544,471		4.4

	Total:		150		1,680,036,895		100.0

Min: 60 Max: 180 Wtd Avg: 114

Remaining Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	52 – 59		20		122,866,654		7.3
	60 – 79		5		56,492,383		3.4
	80 – 99		10		168,632,552		10.0
	100 – 109		9		134,878,905		8.0
	110 – 119		82		816,610,930		48.6
	120 – 139		16		279,775,000		16.7
	140 – 159		2		26,236,000		1.6
	160 – 180		6		74,544,471		4.4

	Total:		150		1,680,036,895		100.0

Min: 52 Max: 180 Wtd Avg: 111

Prepayment Provision Summary

No. of

Aggregate

Mortgage

Cut-off Date

% of

Loans

Balance ($)

Pool

Lockout/ Defeasance/ Open

137

1,450,491,849

86.3

Lockout/ Yield Maintenance/ Open

229,545,046

13.7

Total:

150

1,680,036,895

100.0

Cut-off Date Loan-to-Value Ratio (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	29.3 – 29.9		1		1,495,621		0.1
	30.0 – 49.9		6		269,648,626		16.1
	50.0 – 59.9		9		145,864,078		8.7
	60.0 – 64.9		8		105,149,719		6.3
	65.0 – 69.9		25		136,390,693		8.1
	70.0 – 74.9		39		296,192,899		17.6
	75.0 – 79.9		45		521,995,781		31.1
	80.0 – 84.1		17		203,299,478		12.1

	Total:		150		1,680,036,895		100.0

Min: 29.3% Max: 84.1% Wtd Avg: 68.3%

Loan-to-Value Ratio at Maturity or ARD (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	Fully Amortizing		1		2,185,594		0.1
	7.7 – 24.9		4		8,852,248		0.5
	25.0 – 49.9		17		439,621,140		26.2
	50.0 – 59.9		36		278,385,378		16.6
	60.0 – 64.9		34		341,702,233		20.3
	65.0 – 69.9		48		466,642,281		27.8
	70.0 – 74.4		10		142,648,021		8.5

	Total:		150		1,680,036,895		100.0

Min: 7.7%(a) Max: 74.4% Wtd Avg: 58.7%(a)


(a)	Excludes the mortgage loan that is fully amortizing.

Debt Service Coverage Ratios (x)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	1.12x – 1.19x		3		25,354,230		1.5
	1.20x – 1.24x		16		203,026,954		12.1
	1.25x – 1.29x		12		167,545,167		10.0
	1.30x – 1.34x		10		92,429,665		5.5
	1.35x – 1.39x		25		232,905,737		13.9
	1.40x – 1.49x		41		298,295,853		17.8
	1.50x – 1.59x		19		182,024,087		10.8
	1.60x – 1.69x		6		39,109,716		2.3
	1.70x – 1.79x		3		59,929,563		3.6
	1.80x – 1.89x		5		62,669,930		3.7
	1.90x – 1.99x		2		133,612,545		8.0
	2.00x – 2.99x		5		177,549,794		10.6
	3.00x – 3.43x		3		5,583,653		0.3

	Total:		150		1,680,036,895		100.0

Min: 1.12x Max: 3.43x Wtd Avg: 1.59x


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Cut-off Date*

LOAN GROUP 1 CHARACTERISTICS

Cut-off Date Balance ($)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Properties		Balance ($)		Pool


	675,700 – 999,999		2		1,634,599		0.1
	1,000,000 – 1,999,999		14		21,546,226		1.8
	2,000,000 – 2,999,999		20		52,000,206		4.4
	3,000,000 – 3,999,999		11		37,509,020		3.1
	4,000,000 – 4,999,999		15		66,624,888		5.6
	5,000,000 – 7,499,999		11		67,619,567		5.7
	7,500,000 – 9,999,999		6		49,099,182		4.1
	10,000,000 – 14,999,999		10		134,647,515		11.3
	15,000,000 – 19,999,999		4		65,544,852		5.5
	20,000,000 – 29,999,999		7		182,156,415		15.3
	30,000,000 – 160,000,000		9		515,421,508		43.2

	Total:		109		1,193,803,978		100.0

Min: $675,700 Max: $160,000,000 Average: $10,952,330

State




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Properties		Balance ($)		Pool


New York			8		344,282,458		28.8
Texas			13		140,851,275		11.8
Virginia			6		103,490,748		8.7
Florida			11		98,892,680		8.3
California			14		86,030,906		7.2
	Northern		5		43,588,994		3.7
	Southern		9		42,441,912		3.6
Illinois			6		85,313,615		7.1
Utah			3		63,580,814		5.3
Washington, DC			2		42,310,658		3.5
Missouri			7		39,625,279		3.3
Georgia			4		34,717,580		2.9
Others			37		154,707,964		13.0

Total:			111		1,193,803,978		100.0

Property Type




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Properties		Balance ($)		Pool


Office			25		600,012,518		50.3
Retail			50		372,345,879		31.2
	Anchored		30		294,973,324		24.7
	Shadow Anchored		11		51,255,642		4.3
	Unanchored		9		26,116,912		2.2
Industrial			6		113,753,986		9.5
Self Storage			22		54,775,003		4.6
Manufactured Housing			6		39,672,074		3.3
Hotel			2		13,244,518		1.1

Total:			111		1,193,803,978		100.0

Mortgage Rate (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	4.200 – 4.499		3		43,387,545		3.6
	4.500 – 4.749		1		23,000,000		1.9
	4.750 – 4.999		4		240,375,694		20.1
	5.000 – 5.249		21		143,986,920		12.1
	5.250 – 5.499		13		116,414,038		9.8
	5.500 – 5.749		30		330,810,699		27.7
	5.750 – 5.999		17		164,972,840		13.8
	6.000 – 6.249		8		57,601,813		4.8
	6.250 – 6.499		9		52,579,713		4.4
	6.500 – 7.970		3		20,674,715		1.7

	Total:		109		1,193,803,978		100.0

Min: 4.200% Max: 7.970% Wtd Avg: 5.402%

Original Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	60 – 83		18		96,948,742		8.1
	84 – 99		6		64,983,421		5.4
	100 – 120		78		950,521,344		79.6
	121 – 179		4		71,822,000		6.0
	180		3		9,528,471		0.8

	Total:		109		1,193,803,978		100.0

Min: 60 Max: 180 Wtd Avg: 113

Remaining Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	52 – 59		18		96,948,742		8.1
	60 – 79		4		15,992,383		1.3
	80 – 99		2		48,991,038		4.1
	100 – 109		8		116,537,783		9.8
	110 – 119		68		732,673,561		61.4
	120 – 139		5		157,050,000		13.2
	140 – 159		1		16,082,000		1.3
	160 – 178		3		9,528,471		0.8

	Total:		109		1,193,803,978		100.0

Min: 52 Max: 178 Wtd Avg: 110

Prepayment Provision Summary

No. of

Aggregate

Mortgage

Cut-off Date

% of

Loans

Balance ($)

Pool

Lockout/Defeasance/Open

967,544,202

81.0

Lockout/Yield Maintenance/Open

226,259,776

19.0

Total

109

1,193,803,978

100.0

Cut-off Date Loan-to-Value Ratio (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	29.3 – 29.9		1		1,495,621		0.1
	30.0 – 49.9		6		269,648,626		22.6
	50.0 – 59.9		9		145,864,078		12.2
	60.0 – 64.9		8		105,149,719		8.8
	65.0 – 69.9		21		85,752,470		7.2
	70.0 – 74.9		34		227,273,546		19.0
	75.0 – 79.9		26		286,245,952		24.0
	80.0 – 80.3		4		72,373,964		6.1

	Total:		109		1,193,803,978		100.0

Min: 29.3% Max: 80.3% Wtd Avg: 64.9%

Loan-to-Value Ratio at Maturity or ARD




			No. of		Aggregate
			Mortgage		Cut-off Date		% of
			Loans		Balance ($)		Pool


	Fully Amortizing			1		2,185,594		0.2
		7.7 – 24.9		4		8,852,248		0.7
	25.0 – 49.9			16		404,621,140		33.9
	50.0 – 59.9			31		232,771,155		19.5
	60.0 – 64.9			26		269,519,081		22.6
	65.0 – 69.9			29		246,769,166		20.7
	70.0 – 70.7			2		29,085,594		2.4

	Total:			109		1,193,803,978		100.0

Min: 7.7%(a) Max: 70.7% Wtd Avg: 55.7%(a)


(a)	Excludes the mortgage loan that is fully amortizing.

Debt Service Coverage Ratios (x)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	1.12x – 1.19x		1		3,268,594		0.3
	1.20x – 1.24x		2		20,156,282		1.7
	1.25x – 1.29x		8		105,462,896		8.8
	1.30x – 1.34x		5		57,633,715		4.8
	1.35x – 1.39x		21		166,026,906		13.9
	1.40x – 1.49x		35		258,418,537		21.6
	1.50x – 1.59x		14		116,352,886		9.7
	1.60x – 1.69x		5		27,138,676		2.3
	1.70x – 1.79x		3		59,929,563		5.0
	1.80x – 1.89x		5		62,669,930		5.2
	1.90x – 1.99x		2		133,612,545		11.2
	2.00x – 2.99x		5		177,549,794		14.9
	3.00x – 3.43x		3		5,583,653		0.5

	Total:		109		1,193,803,978		100.0

Min: 1.12x Max: 3.43x Wtd Avg: 1.70x


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Cut-off Date*

LOAN GROUP 2 CHARACTERISTICS

Cut-off Date Balance ($)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	1,571,751 – 1,999,999		3		5,309,537		1.1
	2,000,000 – 2,999,999		1		2,095,431		0.4
	3,000,000 – 3,999,999		4		14,199,315		2.9
	4,000,000 – 4,999,999		3		13,705,017		2.8
	5,000,000 – 7,499,999		5		33,328,705		6.9
	7,500,000 – 9,999,999		3		26,982,214		5.5
	10,000,000 – 14,999,999		10		119,232,953		24.5
	15,000,000 – 19,999,999		6		105,668,122		21.7
	20,000,000 – 29,999,999		4		90,211,624		18.6
	30,000,000 – 40,500,000		2		75,500,000		15.5

	Total:		41		486,232,917		100.0

Min: $1,571,751 Max: $40,500,000 Average: $11,859,339

State




	No. of		Aggregate
	Mortgage		Cut-off Date		% of
	Properties		Balance ($)		Pool


Texas		5		93,534,959		19.2
Arizona		5		64,788,737		13.3
Illinois		1		40,500,000		8.3
Maryland		1		35,000,000		7.2
Missouri		2		26,697,000		5.5
North Carolina		3		26,321,000		5.4
California		5		25,063,288		5.2
Nevada		1		22,960,000		4.7
Iowa		2		21,040,000		4.3
South Carolina		2		17,598,831		3.6
West Virginia		1		16,000,000		3.3
Rhode Island		1		13,360,000		2.7
New Hampshire		1		12,557,913		2.6
Wyoming		1		11,160,000		2.3
Ohio		1		10,480,000		2.2
Michigan		1		10,154,000		2.1
Oklahoma		1		9,600,000		2.0
Georgia		1		5,537,857		1.1
Mississippi		1		4,980,017		1.0
Kentucky		1		4,700,000		1.0
Pennsylvania		1		3,744,514		0.8
Florida		1		3,680,000		0.8
Alabama		1		3,489,531		0.7
Utah		1		3,285,271		0.7

Total:		41		486,232,917		100.0

Property Type

No. of

Aggregate

Mortgage

Cut-off Date

% of

Properties

Balance ($)

Pool

Multifamily

429,458,486

88.3

Manufactured Housing

56,774,431

11.7

Total:

486,232,917

100.0

Mortgage Rate (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	4.240 – 4.499		1		12,557,913		2.6
	4.500 – 4.749		2		31,768,040		6.5
	4.750 – 4.999		12		170,870,455		35.1
	5.000 – 5.249		5		31,609,305		6.5
	5.250 – 5.499		7		74,873,022		15.4
	5.500 – 5.749		7		82,752,597		17.0
	5.750 – 5.999		2		26,985,000		5.5
	6.000 – 6.249		3		28,072,072		5.8
	6.250 – 6.499		1		23,000,000		4.7
	6.500 – 6.990		1		3,744,514		0.8

	Total:		41		486,232,917		100.0

Min: 4.240% Max: 6.990% Wtd Avg: 5.285%

Original Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	60 – 83		2		25,917,913		5.3
	84 – 99		8		156,397,000		32.2
	100 – 120		20		143,588,005		29.5
	121 – 179		8		95,314,000		19.6
	180		3		65,016,000		13.4

	Total:		41		486,232,917		100.0

Min: 60 Max: 180 Wtd Avg: 116

Remaining Term to Stated Maturity or ARD (mos)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	56 – 59		2		25,917,913		5.3
	60 – 79		1		40,500,000		8.3
	80 – 99		8		119,641,514		24.6
	100 – 109		1		18,341,122		3.8
	110 – 119		14		83,937,369		17.3
	120 – 139		11		122,725,000		25.2
	140 – 159		1		10,154,000		2.1
	160 – 180		3		65,016,000		13.4

	Total:		41		486,232,917		100.0

Min: 56 Max: 180 Wtd Avg: 114

Prepayment Provision Summary

No. of

Aggregate

Mortgage

Cut-off Date

% of

Loans

Balance ($)

Pool

Lockout/Defeasance/Open

482,947,647

99.3

Lockout/Yield Maintenance/Open

3,285,271

0.7

Total:

486,232,917

100.0

Cut-off Date Loan-to-Value Ratio (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	67.3 – 69.9		4		50,638,223		10.4
	70.0 – 74.9		5		68,919,352		14.2
	75.0 – 79.9		19		235,749,828		48.5
	80.0 – 84.1		13		130,925,514		26.9

	Total:		41		486,232,917		100.0

Min: 67.3% Max: 84.1% Wtd Avg: 76.8%

Loan-to-Value Ratio at Maturity or ARD (%)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	48.3 – 49.9		1		35,000,000		7.2
	50.0 – 59.9		5		45,614,223		9.4
	60.0 – 64.9		8		72,183,152		14.8
	65.0 – 69.9		19		219,873,116		45.2
	70.0 – 74.4		8		113,562,427		23.4

	Total:		41		486,232,917		100.0

Min: 48.3% Max: 74.4% Wtd Avg: 66.0%

Debt Service Coverage Ratios (x)




		No. of		Aggregate
		Mortgage		Cut-off Date		% of
		Loans		Balance ($)		Pool


	1.19x		2		22,085,636		4.5
	1.20x – 1.24x		14		182,870,672		37.6
	1.25x – 1.29x		4		62,082,271		12.8
	1.30x – 1.34x		5		34,795,950		7.2
	1.35x – 1.39x		4		66,878,831		13.8
	1.40x – 1.49x		6		39,877,316		8.2
	1.50x – 1.59x		5		65,671,201		13.5
	1.60x – 1.61x		1		11,971,040		2.5

	Total:		41		486,232,917		100.0

Min: 1.20x Max: 1.61x Wtd Avg: 1.33x


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan Nos. 57365 and 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Mortgage Pool Characteristics As of the Commencement Date*

PREPAYMENT PROVISION BASED ON OUTSTANDING PRINCIPAL BALANCE


Prepayment Provisions(1)(2)(3)	Nov-03		Nov-04		Nov-05		Nov-06		Nov-07		Nov-08		Nov-09



Lockout/Defeasance		100.00%		100.00%		88.29%		86.37%		85.93%		85.09%		82.05%
Yield Maintenance(4)		0.00%		0.00%		11.71%		13.63%		14.07%		14.91%		15.09%
Open		0.00%		0.00%		0.00%		0.00%		0.00%		0.00%		2.86%

Total		100.00%		100.00%		100.00%		100.00%		100.00%		100.00%		100.00%

Total Beginning Balance (in millions)	$	1,678.98	$	1,664.03	$	1,645.45	$	1,622.72	$	1,598.51	$	1,460.82	$	1,435.73
Percent of Mortgage Pool balance(2)		100.00%		99.11%		98.00%		96.65%		95.21%		87.01%		85.51%


Prepayment
Provisions(1)(2)(3)	Nov-10		Nov-11		Nov-12		Nov-13		Nov-14		Nov-15		Nov-16		Nov-17		Nov-18



Lockout/Defeasance		82.90%		78.11%		79.45%		88.85%		77.52%		98.99%		99.31%		99.68%		0.00%
Yield Maintenance(4)		17.10%		17.36%		17.61%		0.46%		0.71%		1.01%		0.69%		0.32%		0.00%
Open		0.00%		4.52%		2.94%		10.70%		21.77%		0.00%		0.00%		0.00%		0.00%

Total		100.00%		100.00%		100.00%		100.00%		100.00%		100.00%		100.00%		100.00%		0.00%

Total Beginning Balance (in millions)	$	1,208.99	$	1,182.46	$	1,047.99	$	205.99	$	107.83	$	57.55	$	55.43	$	53.17	$	0.00
Percent of Mortgage Pool balance(2)		72.01%		70.43%		62.42%		12.27%		6.42%		3.43%		3.30%		3.17%		0.00%


(1)	Prepayment provisions in effect as a percentage of outstanding loan balances as of the indicated date assuming no prepayments on the Mortgage Loans (and assuming that an ARD Loan will be repaid in full on its Anticipated Repayment Date, if any).

(2)	As of the Commencement Date.

(3)	Numbers may not total 100% due to rounding.

(4)	As of the Cut-off Date, 13 Mortgage Loans representing 13.7% of the initial pool balance are subject to yield maintenance prepayment provisions after the lockout period. The remaining Mortgage Loans representing 86.3% of the initial pool balance are subject to defeasance after the lockout period.

The Cut-off Date Balance of 2 Mortgage Loans, Loan No. 57365 and Loan No. 57442 and (such Loan Number is set forth in Annex A to the preliminary prospectus supplement) has been calculated based upon each of these Mortgage Loans having been divided into a senior portion and one or more subordinate portions, and the related Cut-off Date Balance reflects only the outstanding principal balance of the senior portion as of the Cut-off Date.


	The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Ten Largest Mortgage Loans or Crossed Pools

The following table and summaries describe the ten largest Mortgage Loans or Crossed Pools in the Mortgage Pool by Cut-off Date Balance:

Ten Largest Mortgage Loans or Crossed Pools by Cut-off Date Balance*


	Cut-off				% of Initial			% of					Cut-off		LTV
	Date		Loan		Pool			Applicable					Date LTV		Ratio			Underwritten
Loan Name	Balance		Group		Balance			Loan Group			Property Type		Ratio		at Maturity			DSCR

Hines Sumitomo Life Office Portfolio	$	160,000,000		1		9.5	%		13.4	%		Office		45.3%		45.3	%		2.66	x




1328 Broadway		98,800,000		1		5.9			8.3	%		Office		49.4%		42.4	%		1.96	x




Newgate Mall		45,000,000		1		2.7			3.8	%		Retail		57.0%		50.3	%		1.86	x




Sterling Estates MHC		40,500,000		2		2.4			8.3	%	Manufactured Housing Community			76.7%		68.7	%		1.39	x




Nestle Industrial Center — DeKalb, IL		39,604,000		1		2.4			3.3	%		Industrial		76.2%		60.3	%		1.25	x




The Colonnade Office Building		38,000,000		1		2.3			3.2	%		Office		71.0%		63.0	%		1.47	x




4501 North Fairfax Office Building		37,456,745		1		2.2			3.1	%		Office		60.3%		54.0	%		1.54	x




Harrison Park Apartments & Suntree Village Apartments**		36,250,000		2		2.2			7.5	%		Multifamily		78.3%		72.5	%		1.21	x




Cypress Creek Apartments		35,000,000		2		2.1			7.2	%		Multifamily		67.3%		48.3	%		1.59	x




KPMG Centre		34,812,545		1		2.1			2.9	%		Office		51.7%		47.4	%		1.92	x

Total/Wtd. Avg.	$	565,423,290				33.7	%							58.0%		51.8	%		1.93	x

[Additional columns below]

[Continued from above table, first column(s) repeated]


	Mortgage
Loan Name	Rate

Hines Sumitomo Life Office Portfolio		4.773	%




1328 Broadway		5.526	%




Newgate Mall		4.839	%




Sterling Estates MHC		4.950	%




Nestle Industrial Center — DeKalb, IL		5.940	%




The Colonnade Office Building		5.530	%




4501 North Fairfax Office Building		5.220	%




Harrison Park Apartments & Suntree Village Apartments**		5.285	%




Cypress Creek Apartments		5.580	%




KPMG Centre		4.200	%




Total/Wtd. Avg.		5.132	%


	One mortgage loan, Loan No. 57365 is evidenced by two seniorpari passu promissory notes and one subordinate note. The debt service coverage ratios and loan-to-value ratios were calculated based upon the aggregate principal balance of the two senior notes, excluding the principal balance of the related subordinate note. The weighting of debt service coverage ratios and loan-to-value ratios were based solely upon the senior note included in the trust. Accordingly, such ratios would be lower (in the case of debt service coverage) and higher (in the case of loan-to-value ratios) if the subordinate note were included.

	In addition with respect to Loan No. 57442 the calculations referenced in the above chart were based upon an assumed interest rate and debt service and are accordingly subject to change.

	The sum of aggregate percentage calculations may not equal 100% due to rounding. Debt service coverage ratio was calculated based on net cash flow unless otherwise noted in this term sheet.

	Harrison Park Apartments, Suntree Village Apartments and Cypress Creek Apartments are in Loan Group 2. The remaining Mortgage Loans listed in the table above are in Loan Group 1.


**	For crossed pools, the information presented is a weighted average of the information for the loans in the crossed pool.

NOTES

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

HINES SUMITOMO LIFE OFFICE PORTFOLIO


425 Lexington Avenue		425 Lexington Avenue		499 Park Avenue



		499 Park Avenue


1200 19th Street		1200 19th Street

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

HINES SUMITOMO LIFE OFFICE PORTFOLIO



Whole Loan Information





Original Principal Balance:		$316,405,000





First Payment Date:		October 1, 2003





Term/Amortization:		120/0 months





Interest Only Period:		120 months





Shadow Rating (S&P/Fitch)†:		BBB-/BBB-





Maturity Date:		September 1, 2013





Expected Maturity Balance:		$316,405,000





Borrowing Entity:		Hines 499 Park, LLC Hines 425 Lexington Avenue, LLC Hines 1200 Nineteenth Street, LLC





Interest Calculation:		30/360





Call Protection:		Lockout: 24 Payments GRTR 1% PPMT or Yield Maintenance: 95 payments Open: 1 payment





Up-Front Reserves††:





	Tax Reserve:	Yes





	Replacement Reserve:	$24,903





	TI/LC:	$99,611





Ongoing Monthly Reserve††:





	Tax Reserve:	Yes





	Replacement Reserve:	$24,903





	TI/LC:	$99,611





Lockbox:		Hard


†	The shadow ratings of the Hines Sumitomo Loan or the Hines Sumitomo Senior Component, as applicable, reflect the credit quality of the related Mortgage Loan and the pooling benefit that results from the inclusion of the related Mortgage Loan in the Mortgage Pool.

††

The Hines Sumitomo Borrower’s obligation to maintain reserve fund, other than with respect to certain lease reserve funds (including the deposit of early termination fees with respect to certain tenants and lease reserve funds related to the Canadian Imperial Bank of Commerce tenant) will terminate upon payment in full of the mezzanine loan if no event of default exists under the Hines Sumitomo loan documents.



Financial Information





*Whole Loan Balance:**		$316,405,000




*Hines Sumitomo Note B Loan Balance:**		$51,805,000




*Aggregate Hines Sumitomo Senior Note Balance:**		$264,600,000




Senior Component Shadow Rating (S&P/Fitch)†:		AAA/AAA




Trust Senior Balance “Hines Sumitomo Senior Note A-1”:		$160,000,000




Cut-off Date LTV:		45.3%(1)




Maturity Date LTV:		45.3%(1)




Underwritten DSCR:**		2.66x(1)(2)




Mortgage Rate:		4.7727%
* As of the Cut-off Date.
**DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:			Office




Property Sub-Type:			CBD




Location:			New York, NY Washington, DC




Year Built/Renovated:




499 Park Avenue:			1981/NA




425 Lexington Avenue:			1987/NA




1200 19th Street N.W.:			1964/1987




Net Rentable Square Feet:			1,187,723




Cut-off Balance per SF:			$223(1)




	Occupancy:




		499 Park Avenue as of 4/30/2003:	96.2%




		425 Lexington Avenue as of 6/1/2003:	99.8%




		1200 19th Street as of 7/21/2003:	99.6%




Ownership Interest:			Fee/Leasehold




Property Management:			Hines Interests Limited Partnership




U/W Net Cash Flow:			$44,237,603




Appraised Value:			$583,800,000


(1)	Based on aggregate principal balance of the Hines Sumitomo Senior Note.

(2)	The Hines Sumitomo Loan is Interest Only for its entire loan term. If debt service had been calculated on such interest only payments the resulting underwritten DSCR would have been approximately 3.50x.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(6/30/03)		(12/31/02)

Effective Gross Income	$	79,200,090	$	76,003,508	$	73,507,805




Total Expenses	$	31,323,989	$	31,229,604	$	26,757,574




Net Operating Income (NOI)	$	47,876,101	$	44,773,904	$	46,750,231




Cash Flow (CF)	$	44,237,603	$	44,773,904	$	46,750,231




DSCR on NOI(1)		2.88x		2.70x		2.82x




DSCR on CF(1)		2.66x		2.70x		2.82x


(1)	Based on aggregate principal balance of the Hines Sumitomo Senior Note.




499 Park Avenue†			Tenant		% Total					Potential		% Potential			Lease
	Ratings		Total SF		SF			Rent PSF		Rent		Rent			Expiration
	S&P/Fitch
Top Tenants




Bloomberg L.P.		Not Rated		145,463		51.9	%	$	65.93	$	9,590,253		50.7	%		9/30/2004




Dreier and Baritz LLP		Not Rated		32,893		11.7		$	75.37		2,479,195		13.1			5/31/2011




Mercer Management		Not Rated		20,293		7.2		$	50.00		1,014,650		5.4			9/30/2006

Totals				198,649		70.9	%			$	13,084,098		69.2	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.




425 Lexington Avenue†			Tenant		% Total					Potential		% Potential			Lease
	Ratings		Total SF		SF			Rent PSF		Rent		Rent			Expiration
	S&P/Fitch
Top Tenants




Simpson Thatcher & Bartlett		Not Rated		389,585		57.7	%	$	61.84	$	24,090,085		58.7	%		10/31/2018




Canadian Imperial Bank of Commerce		A+/AA-		271,315		40.2		$	55.07		14,940,520		36.4			10/31/2008




Fleet National Bank		Withdrawn††		3,756		0.6		$	195.00		732,420		1.8			10/31/2013

Totals				664,656		98.4	%			$	39,763,025		96.9	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.




1200 19th Street†			Tenant		% Total					Potential		% Potential			Lease
	Ratings		Total SF		SF			Rent PSF		Rent		Rent			Expiration
	S&P/Fitch
Top Tenants




Piper Rudnick LLP		Not Rated		164,997		69.7	%	$	36.99	$	6,103,100		71.4	%		9/30/2007




Kelley Drye & Warren LLP		Not Rated		43,711		18.5		$	34.79		1,520,706		17.8			9/30/2007




Sam & Harry’s Restaurant		Not Rated		9,849		4.2		$	26.38		259,833		3.0			1/31/2010

Totals				218,557		92.4	%			$	7,883,638		92.2	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.

††	The ratings of the Fleet National Bank tenant have been withdrawn pending the issuance of new ratings in connection with a proposed merger with Bank of America.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2




499 Park Avenue										Cumulative
	Number of		Expiring		% Total			Cumulative		% Total
	Leases Expiring		SF		SF			Total SF		SF
Year of Expiration
2003		1		2,489		0.9	%		2,489		0.9	%




2004		9		81,959		29.2			84,448		30.1	%




2005		2		8,821		3.1			93,269		33.3	%




2006		2		27,205		9.7			120,474		43.0	%




2007		2		11,238		4.0			131,712		47.0	%




2010		3		77,686		27.7			209,398		74.7	%




2011		3		32,893		11.7			242,291		86.4	%




2012		3		16,161		5.8			258,452		92.2	%




2013		1		11,161		4.0			269,613		96.2	%




Vacant				10,766		3.8			280,379		100.0	%

Total		26		280,379		100.0	%




425 Lexington Avenue										Cumulative
	Number of		Expiring		% Total			Cumulative		% Total
	Leases Expiring		SF		SF			Total SF		SF
Year of Expiration
2003		1		2,500		0.4	%		2,500		0.4	%




2008		2		271,315		40.2			273,815		40.5	%




2010		1		1,597		0.2			275,412		40.8	%




2012		3		4,276		0.6			279,688		41.4	%




2013		2		4,963		0.7			284,651		42.1	%




2018		5		389,585		57.7			674,236		99.8	%




Vacant				1,442		0.2			675,678		100.0	%

Total		14		675,678		100.0	%




1200 19th Street										Cumulative
	Number of		Expiring		% Total			Cumulative		% Total
	Leases Expiring		SF		SF			Total SF		SF
Year of Expiration
2003		1		1,988		0.8	%		1,988		0.8	%




2006		2		5,270		2.2			7,258		3.1	%




2007		9		208,858		88.3			216,116		91.3	%




2008		1		6,933		2.9			223,049		94.3	%




2010		5		11,555		4.9			234,604		99.2	%




2013		1		1,029		0.4			235,633		99.6	%




Vacant				953		0.4			236,586		100.0	%

Total		19		236,586		100.0	%

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Summary of Significant Tenants

499 Park Avenue


•	Bloomberg L.P. (Not Rated), the financial information services company, occupies 144,293 square feet (51.5%) on two separate leases expiring in September 2004 and December 2015. Bloomberg L.P. is in process of building a new headquarters building in close proximity to the 499 Park Avenue building. One lease for 29.2% of the building expires in September 2004. Bloomberg L.P. is in negotiations to extend the lease expiration to September 2005, but will then vacate the space. The other lease for 22.2% of the building expires in December 2015. This lease includes a termination option in December 2010. In order to terminate the lease, Bloomberg L.P. must give 36 months notice (December 2007) and pay a $4,951,000 lease termination fee at the time notice is given.

•	Dreier and Baritz LLP (Not Rated), a law firm, occupies 32,893 square feet (11.7%) on a lease expiring in May 2011.

425 Lexington Avenue


•	Simpson, Thatcher & Bartlett (“ST&B”, Not Rated), a law firm, occupies 389,756 square feet (57.7%) on various leases expiring in October 2018.

•	Canadian Imperial Bank of Commerce (“CIBC”, Rated A+ by S&P and AA- by Fitch) occupies 271,315 square feet (40.2%) on two leases expiring in October 2008. CIBC has signed a lease to occupy approximately 1.2 million square feet in 300 Madison Avenue as its new headquarters building with occupancy to commence in 2004. It is expected that CIBC will be vacating space in the 425 Lexington Avenue building in stages as it relocates to the new building. If the Hines Sumitomo Borrower cannot find a tenant to sublease this space or to execute a new lease, the Hines Sumitomo Borrower shall make monthly deposits of $208,700 commencing January 2005 through October 2008 into a tenant improvements and leasing commissions reserve. Approximately $9.6 million will have accumulated in the reserve account by October 2008 to re-lease CIBC’s space. Any termination fees under the CIBC lease shall also be deposited into the reserve account.

1200 19th Street


•	Piper Rudnick LLP (Not Rated), a law firm, occupies 164,997 square feet (71.2%) on various leases expiring in September 2007.

•	Kelley Drye & Warren LLP (Not Rated), a law firm, occupies 43,711 square feet (18.9%) on two leases expiring in September 2007.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Hines Sumitomo Life Office Portfolio Mortgaged Property consists of three central business district office buildings containing a total of 1,187,723 net rentable square feet with a weighted average occupancy of 98.9%.

499 Park Avenue


•	The 499 Park Avenue building is a 28-story Class A office building with ground level retail space built in 1981 containing 280,404 net rentable square feet situated on 0.3 acres located at the southeast corner of Park Avenue and East 59th Street in New York, New York. The 499 Park Avenue building is accessible by public transportation (Lexington Avenue, Madison Avenue and 57th Street busses and the subway one block east) and within walking distance to the residential Upper East Side and to Midtown hotels, restaurants and stores. The 499 Park Avenue building is located in Manhattan’s Plaza Office submarket.

•	As of the rent roll dated 04/30/03, the 499 Park Avenue building was approximately 96.2% leased.

425 Lexington Avenue


•	The 425 Lexington Avenue building is a 31-story Class A office building with ground level retail space built in 1987 containing 675,678 net rentable square feet situated on 0.8 acres located on the east side of Lexington Avenue between East 43rd and East 44th Streets in New York, New York. The 425 Lexington Avenue building is accessible by public transportation, including the Third Avenue, Lexington Avenue and 42nd Street cross-town busses and the subway across the street at Grand Central Station. Midtown hotels, restaurants and stores are within walking distance. The 425 Lexington Avenue building is located in Manhattan’s Grand Central office submarket.

•	As of the rent roll dated 06/01/03, the 425 Lexington Avenue building was approximately 99.8% leased.

1200 19th Street


•	The 1200 19th Street building is an 8-story Class A office building with ground floor retail space and an underground parking garage built in 1964 and renovated in 1987 containing 231,641 net rentable square feet situated on 0.9 acres located at the northwest corner of 19th and M Streets, NW, Washington, DC. The 1200 19th Street building is located in the District of Columbia office market and the downtown office submarket.

•	As of the rent roll dated 07/21/03, the 1200 19th Street building was approximately 99.6% leased.

•	The Hines Sumitomo Loan was made to Hines 499 Park, LLC, Hines 425 Lexington Avenue, LLC and Hines 1200 Nineteenth Street, LLC. Equity interest in the Hines Sumitomo Borrower is as follows:


	•	Hines 499 Park, LLC and Hines 425 Lexington Avenue, LLC are both held 100% by Hines NY Office Properties, LLC.

	•	Hines 1200 Nineteenth Street, LLC is held 99.5% by Hines NY Office Properties, LLC and 0.5% by Hines 1200 Nineteenth Street Member, LLC.

	•	Hines NY Office Properties, LLC is owned by Hines-Sumisei NY Core Office Trust, a Maryland real estate investment trust.

•

The Hines Sumitomo Borrower, at its sole cost and expense, is required to keep the Hines Sumitomo Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Hines Sumitomo Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Hines Sumitomo Borrower, collectively, Hines 499 Park, LLC, Hines 425 Lexington Avenue, LLC and Hines 1200 Nineteenth Street, LLC, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Hines Interests Limited Partnership (“Hines”), an affiliate of the Hines Sumitomo Borrower related entity, manages the Hines Sumitomo Mortgaged Property. Hines, formed in 1957 by Gerald Hines, is headquartered in Houston, Texas. The company has regional offices located in San Francisco, New York, Chicago and Atlanta, with a physical presence in 72 cities in the U.S. and international locations in Europe, China, Mexico, Russia, and South America. Hines owns and/or manages over 73 million square feet of commercial space, of which 47 million square feet is owned and 36 million square feet is third party managed, located in 168 buildings in the U.S. Hines manages ten office buildings in New York City. Hines has over $4 billion in equity under management through relationships with 20 tax-exempt investors.

•	The 499 Park Avenue and the 425 Lexington Avenue buildings are both subject to ground leases. Each of the 499 Park Avenue and 425 Lexington Avenue ground lessors and lessees have transferred their interests in the related ground leases to the Hines Sumitomo Borrower. The mortgage loan covering the 499 Park Avenue and the 425 Lexington Avenue properties is both a fee and a leasehold mortgage and encumbers both the fee and the leasehold interests in the properties. Additionally, the Hines Sumitomo Borrower has executed a subordination agreement subordinating the ground leases to the lien, terms and conditions of the fee mortgage.

•	At any time following the expiration of the Hines Sumitomo lockout period, provided that no event of default has occurred and is continuing and the mezzanine loan has been paid in full, the Hines Sumitomo Borrower may obtain a release of a Hines Sumitomo Mortgaged Property from the lien of the Mortgage by substituting another Class A office property, provided conditions are satisfied including notice, standard due diligence, loan-to-value and debt service coverage ratio tests, rating agency approval and other customary requirements.

•	The Mortgages on the three properties securing the Hines Sumitomo Loan are cross-collateralized and cross-defaulted with each other so that (i) an event of default under any of the Mortgages shall constitute an event of default under each of the other Mortgages which secure the Mortgage Note, (ii) an event of default under the Mortgage Note shall constitute an event of default under each Mortgage and (iii) each Mortgage shall constitute security for the Mortgage Note.

•	As will be set forth in more detail in the preliminary prospectus supplement, the holder of designated classes of certificates that are entitled to payments solely from the Hines Sumitomo Loan will be entitled in certain instances to exercise rights analogous to the rights of the Directing Certificateholder solely with respect to the Hines Sumitomo Loan. Such rights may include the review and/or approval of certain actions taken by the Master Servicer or the Special Servicer in connection with the Hines Loan. In addition, such holder (but is not obligated to) purchase the Hines Loan, if the loan is then considered a “Defaulted Mortgage Loan” as more particularly described in the preliminary prospectus supplement, at a price generally equal to its (a) fair value as determined by the Special Servicer (or the Master Servicer or Trustee if the Special Servicer and the option holder are the same person or affiliated) or (b) unpaid principal balance, plus accrued and unpaid interest on such balance, all related unreimbursed advances (with interest, if any), and all accrued special servicing fees and additional trust fund expenses, if the Special Servicer has not determined its fair value.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(MAP)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

1328 BROADWAY

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

1328 BROADWAY



Whole Loan Information





Original Principal Balance:		$135,000,000





First Payment Date:		November 1, 2003





Term/Amortization:		120/360 months





Interest Only Period:		12 months





Maturity Date:		October 1, 2013





Expected Maturity Balance:		$84,822,469





Borrowing Entity:		1328 Broadway, LLC





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 117 payments Open: 3 payments





Up-Front Reserves:





	Tax Reserve:	Yes





	Repair Reserve:	$25,563





Ongoing Monthly Reserve:





	Tax Reserve:	Yes





	Replacement Reserve:	$1,467 for the first 6 years of the loan term and $4,400 for the last 4 years of the loan term





Lockbox:		Hard



Financial Information





*Whole Loan Balance:**		$135,000,000




*Subordinate Component Balance:**		$36,200,000




*Senior Component Balance:**		$98,800,000




Senior Component Shadow Rating (S&P/Fitch):**		AA/A




Cut-off Date LTV:		49.4%(1)




Maturity Date LTV:		42.4%(1)




Underwritten DSCR:*		1.96x(1)




Mortgage Rate†:		5.52642%
* As of the Cut-off Date.
** The shadow ratings of the 1328 Broadway Senior Component reflect the credit quality of the related Mortgage Loan and the pooling benefit that results from the inclusion of the related Mortgage Loan in the Mortgage Pool.
*** DSCR figures based on net cash flow unless otherwise noted.
† The interest rate was rounded to five decimals and is subject to change (prior to pricing).



Property Information





Property Type:		Office




Property Sub-Type:		CBD




Location:		New York, NY




Year Built/Renovated:		1909/2001




Net Rentable Square Feet:		351,750




Cut-off Balance per SF:		$281(1)




Occupancy as of 8/12/03:		98.9%




Ownership Interest:		Fee




Property Management:		RFR Realty LLC




U/W Net Cash Flow:		$13,210,821




Appraised Value:		$200,000,000


(1)	Based on Senior Component Balance.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(7/31/03)		(12/31/02)

Effective Gross Income	$	19,505,171	$	21,372,087	$	18,803,208




Total Expenses	$	5,656,599	$	5,805,161	$	4,996,332




Net Operating Income (NOI)	$	13,848,572	$	15,566,926	$	13,806,876




Cash Flow (CF)	$	13,210,821	$	15,566,926	$	13,806,876




DSCR on NOI(1)		2.05x		2.31x		2.05x




DSCR on CF(1)		1.96x		2.31x		2.05x


(1)	Based on Senior Component Balance.


	Ratings		Tenant		% Total					Potential		% Potential			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Expiration

Top Tenants†




Publicis USA Holdings Inc		Not Rated		119,502		34.0	%	$	39.83	$	4,759,500		24.9	%		8/31/2016




H&M		Not Rated		70,771		20.1		$	85.84		6,075,000		31.7			1/31/2016




Mercy College		Not Rated		55,000		15.6		$	43.00		2,365,000		12.4			5/14/2022




Central Parking		B+/Not Rated		29,610		8.4		$	19.42		575,000		3.0			12/31/2007




Victoria’s Secret		BBB+/Not Rated		26,650		7.6		$	154.56		4,118,950		21.5			3/31/2017

Totals				301,533		85.7	%			$	17,893,450		93.5	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.


	Number of		Expiring		% Total			Cumulative		Cumulative %
Year of Expiration	Leases Expiring		SF		SF			Total SF		Total SF

2003		55		41,912		11.9	%		41,912		11.9	%




2005		2		2,325		0.7			44,237		12.6	%




2007		1		29,610		8.4			73,847		21.0	%




2016		4		190,273		54.1			264,120		75.0	%




2017		2		26,650		7.6			290,770		82.6	%




2022		1		55,000		15.6			345,770		98.2	%




Vacant				6,218		1.8			351,988		100.0	%

Total		65		351,988		100.0	%

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Summary of Significant Tenants


•	Publicis USA Holding Inc. (Not Rated) occupies 114,500 square feet of office space (32.6%) at $41.00 per square foot plus 5,002 square feet of storage space on a 15-year lease expiring on August 2016. The company, headquartered in Paris, is the world’s fourth largest communications group and ranks number one in Europe and number three in the United States. Publicis Groupe is structured around three core businesses: advertising, media buying and consulting and specialized agencies and marketing services. The company operates in 229 cities in 109 countries on 5 continents with 35,700 employees. Its list of clients includes Coca-Cola, General Mills, McDonald’s, Nestle and Procter and Gamble.

•	H&M (Not Rated) occupies 66,000 square feet of retail space (18.8%) on the ground through third floors at $90.15 per square foot plus 4,771 square feet of storage space on a 15-year lease expiring on January 2016. H&M Hennes & Mauritz is a Swedish-based clothing chain, which operates H&M stores in 13 European countries and well as the United States. The company offers clothes targeted primarily at teenagers as well as men’s, women’s and children’s clothes. H&M entered the United States market in 2000 and now operates 45 stores primarily in the northeast, making the United States its third largest market after Germany and Sweden.

•	Mercy College (Not Rated) occupies 55,000 square feet of office or classroom space (15.6%) at $43.00 per square foot on a 20-year lease expiring on May 2022. Established in 1950, Mercy College offers both undergraduate and graduate degrees and currently has over 10,000 students. The main campus of Mercy College is located in Dobbs Ferry, Westchester County, New York with branch campuses in Yorktown Heights, White Plains, Bronx and Manhattan. The 1328 Broadway Mortgaged Property serves as the college’s Manhattan campus.

•	Victoria’s Secret Stores, Inc. (Rated BBB+ by S&P and Not Rated by Fitch) occupies 25,900 square feet of retail space (7.4%) on the ground through second floors at $158.30 per square foot plus 750 square feet of storage space on a 15-year lease expiring on March 2017. Victoria’s Secret, the largest subsidiary of Limited Brands, operates 1,014 stores.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The 1328 Broadway Mortgaged Property is an 11-story Class B office building with multi-level retail containing a total of 351,750 net rentable square feet situated on a 0.7 acre site located between 34th and 35th Streets in midtown Manhattan. Included in the collateral is a one-level underground parking garage, which occupies 29,610 square feet and is managed by Central Parking on a long-term contractual agreement. The 1328 Broadway Mortgaged Property was built in 1909 and extensively renovated in 2001 with the 1328 Broadway Borrower spending approximately $35 million on improvements, which included the replacement of all HVAC units, the upgrading of all elevators, new windows and facade repair. In addition, the four largest tenants have spent a total of approximately $56 million on their respective spaces.

•	As of the rent roll dated 08/12/03, the 1328 Broadway Mortgaged Property was approximately 98.9% leased.

•	The 1328 Broadway Borrower, at its sole cost and expense, is required to keep the 1328 Broadway Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. This insurance policy shall not contain any exclusion for acts of terrorism or similar acts of sabotage.

•	The 1328 Broadway Borrower is owned by Marbridge LLC (100%). Marbridge LLC is owned by Michael Goelet (22.5%), Richard Goelet (22.5%), Suzanne Goelet (22.5%), Lynn G. Feld (22.5%) and 1328 Broadway Managers, LLC (10%). 1328 Broadway Managers, LLC is owned by Chgaro LLC (50%) and SAGLA LLC (50%) which are ultimately owned both directly and through the trust created for the benefit of the family members by Aby Rosen and Michael Fuchs.

•	The 1328 Broadway Borrower, 1328 Broadway, LLC, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	RFR Realty LLC (“RFR”), a 1328 Broadway Borrower related entity, manages the subject property. RFR is a privately held, Manhattan based, real estate investment, development and management company. Aby Rosen and Michael Fuchs are the owners of RFR. The Rosen and Fuchs families, from Frankfurt, Germany, have been involved in real estate investment and development throughout Europe for the past 50 years. RFR established its operation in the United States in 1991 and, through various affiliates, presently controls approximately five million square feet of prime office and retail space plus approximately 2,500 luxury residential apartments.

•	As will be set forth in more detail in the preliminary prospectus supplement, the holder of designated classes of certificates that are entitled to payments solely from the 1328 Broadway Loan will be entitled in certain instances to exercise rights analogous to the rights of the Directing Certificateholder solely with respect to the 1328 Broadway Loan. Such rights may include the review and/or approval of certain actions taken by the Master Servicer or the Special Servicer in connection with the 1328 Broadway Loan. In addition, such holder (but is not obligated to) purchase the 1328 Broadway Loan, if the loan is then considered a “Defaulted Mortgage Loan” as more particularly described in the preliminary prospectus supplement, at a price generally equal to its (a) fair value as determined by the Special Servicer (or the Master Servicer or Trustee if the Special Servicer and the option holder are the same person or affiliated) or (b) unpaid principal balance, plus accrued and unpaid interest on such balance, all related unreimbursed advances (with interest, if any), and all accrued special servicing fees and additional trust fund expenses, if the Special Servicer has not determined its fair value.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(MAP)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

NEWGATE MALL

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

NEWGATE MALL



Loan Information





Original Principal Balance:		$45,000,000





First Payment Date:		November 1, 2003





Term/Amortization:		84/360 months





Shadow Rating (S&P/Fitch)†:		BBB-/BBB-





Maturity Date:		October 1, 2010





Expected Maturity Balance:		$39,773,768





Borrowing Entity:		GGP — Newgate Mall, Inc.





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 81 payments Open: 3 payments





Lockbox:		Hard


†	The shadow ratings of the Newgate Mall Loan reflect the credit quality of the related Mortgage Loan and the pooling benefit that results from the inclusion of the related Mortgage Loan in the Mortgage Pool.



Financial Information





Cut-off Date Balance:		$45,000,000




Cut-off Date LTV:		57.0%




Maturity Date LTV:		50.3%




*Underwritten DSCR:**		1.86x




Mortgage Rate:		4.8385%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Retail




Property Sub-Type:		Anchored — Department Store




Location:		Ogden, UT




Year Built/Renovated:		1981/1997




Net Rentable Square Feet:		605,380




Cut-off Balance per SF:		$74




Occupancy as of 8/20/03:		95.0%




Ownership Interest:		Fee




Property Management:		General Growth Properties, Inc.




U/W Net Cash Flow:		$5,300,609




Appraised Value:		$79,000,000




Sales per SF (In Line):		$326(1)




Occupancy Cost:		9.63%(1)


(1) Information based on 2003 data.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(6/30/03)		(12/31/02)

Effective Gross Income	$	8,198,112	$	7,663,202	$	7,689,335




Total Expenses	$	2,433,313	$	2,024,898	$	2,241,132




Net Operating Income (NOI)	$	5,764,799	$	5,638,304	$	5,448,203




Cash Flow (CF)	$	5,300,609	$	5,638,304	$	5,448,203




DSCR on NOI		2.03x		1.98x		1.91x




DSCR on CF		1.86x		1.98x		1.91x


	Ratings		Tenant		% Total					Potential		% Potential			Occupancy			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Cost(1)			Expiration

Top Tenants†




Sears		BBB/BBB+		185,624		30.6	%	$	2.85	$	529,669		10.3	%		2.38	%		7/31/2006




Mervyn’s		A+/A		77,337		12.8		$	1.62		125,286		2.4			1.20	%		7/31/2006




Gart Sports		B/Not Rated		64,284		10.6		$	5.25		337,491		6.5			7.09	%		2/01/2016




Tinsel Town		Not Rated		61,970		10.2		$	10.00		619,700		12.0			10.69	%		12/31/2018

Totals				389,215		64.3	%			$	1,612,146		31.2	%


(1)	Information based on 2002 data.


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.



	Number of		Expiring		% Total			Cumulative		Cumulative
Year of Expiration	Leases Expiring		SF		SF			Total SF		% Total SF

2003		1		511		0.1	%		511		0.1	%




2004		2		4,805		0.8			5,316		0.9	%




2005		10		47,060		7.8			52,376		8.6	%




2006		8		288,600		47.6			340,976		56.3	%




2007		6		6,526		1.1			347,502		57.4	%




2008		14		39,423		6.5			386,925		63.9	%




2009		10		18,956		3.1			405,881		67.0	%




2010		2		4,776		0.8			410,657		67.8	%




2011		2		3,797		0.6			414,454		68.4	%




2012		10		19,424		3.2			433,878		71.6	%




2013		4		11,164		1.8			445,042		73.5	%




2014		6		5,724		0.9			450,766		74.4	%




2016		1		64,284		10.6			515,050		85.0	%




2018		1		61,970		10.2			577,020		95.3	%




Vacant				28,680		4.7			605,700		100.0	%

Total		77		605,700		100.0	%

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Summary of Significant Tenants


•	Sears (Rated BBB by S&P and BBB+ by Fitch) occupies 185,624 square feet (30.7%), of which 149,624 square feet is located in the two-story mall building and 36,000 square feet is located in the Sears Warehouse and Service Center outparcel building, at $2.85 per square foot with three years remaining on a 25-year lease expiring on 07/31/06. The lease grants seven ten-year options to renew. Sears, a multi-line retailer offering an array of merchandise and related services, operates 872 full-line stores and approximately 1,300 specialty stores located throughout the United States with additional stores located in Canada.

•	Mervyn’s (Target, Rated A+ by S&P and A by Fitch) occupies 77,337 square feet (12.8%) at $1.62 per square foot with three years remaining on a 25-year lease expiring on 07/31/06. The lease grants one ten-year option and 12 five-year options to renew. Mervyn’s is an operating division of Target Corporation. Target, a general merchandise retailer, operates 1,148 Target discount stores, 264 Mervyn’s department stores and 64 Marshall Field’s department stores located throughout the U.S.

•	Gart Sports (Sports Authority, Rated B by S&P and Not Rated by Fitch) occupies 64,284 square feet (10.6%) at $5.25 per square foot with 12.5 years remaining on a 20-year lease expiring on 02/01/16. Sports Authority operates 385 sports superstores located in 45 states.

•	Tinsel Town (Cinemark Theater, Not Rated) occupies 61,970 square feet (10.2%) at $10.00 per square foot with 15 years remaining on a 21-year lease expiring on 12/31/18. The theater consists of 14 screens containing a total of 3,100 stadium-style seats. Cinemark operates approximately 280 theaters and 3,000 screens located in 33 states and internationally in Argentina, Brazil, Canada, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Nicaragua, Mexico and Peru.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Newgate Mall Mortgaged Property is a regional mall containing 605,380 net rentable square feet situated on 52.4 acres located in Ogden, Utah. The Newgate Mall Mortgaged Property was built in 1981 and renovated in 1997. The improvements consist of the one-story main mall building with attached two-story anchor tenant buildings and two separate outparcel buildings. The mall has four main entrances with many of the individual tenants having their own entrances. A centrally located food court is adjacent to one of the main entrances. Anchor tenants include Sears, Mervyn’s (Target), Gart Sports (Sports Authority) and Tinsel Town (Cinemark Theater), which together comprise 58.4% of the square feet and 31.9% of the gross potential rental income. Dillard’s (118,919 square feet) is a non-collateral shadow anchor tenant. The Newgate Mall Mortgaged Property was expanded in 1994 (Dillard’s added), 1996 (Gart Sports added) and 1998 (Tinsel Town added). Non-anchor tenants include The Quilted Bear, Express, Eddie Bauer, The Gap, Famous Footwear, Lenscrafters, Payless Shoes, Victoria’s Secret, American Eagle Outfitters, KB Toys, Foot Locker and Radio Shack, among others.

•	As of the rent roll dated 08/20/03, the Newgate Mall Mortgaged Property is 95.0% leased.

•	The Newgate Mall Borrower, at its sole cost and expense, is required to keep the Newgate Mall Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Newgate Mall Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts if the all risk insurance policy provides for the exclusion of coverage for acts of terrorism, then the Newgate Mall Borrower is required to maintain separate insurance coverage for acts of terrorism provided that such coverage is commercially reasonably available, can be obtained at a commercially reasonable cost and is generally maintained by prudent owners of institutional quality commercial real estate.

•	The Newgate Mall Borrower is held 100% by GGP/Homart, Inc. GGP/Homart, Inc. is owned by the New York State Common Retirement Fund (50%) and GGP Limited Partnership (50%). GGP Limited Partnership is owned by General Growth Properties, Inc. (“GGP”) and by certain individuals. GGP acted as a buyer, seller, developer and manager of commercial real estate since 1954 and is the second largest regional mall REIT in the country. GGP recently acquired JP Realty, a retail property development and management company located in the Intermountain region of the U.S., adding 18 regional malls to the portfolio. GGP is primarily engaged in the ownership, operation, management, leasing, acquisition, development and expansion of regional mall and community shopping centers located in the U.S. The company’s portfolio is comprised primarily of regional malls, but also includes interests in office space associated with its retail properties and approximately 1.4 million square feet of commercial/industrial space acquired through the purchase of JP Realty. Through predecessor entities, GGP has owned the Newgate Mall Mortgaged Property for over 20 years.

•	The Newgate Mall Borrower, GGP-Newgate Mall, Inc., is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	General Growth Properties, Inc., a Newgate Mall Borrower related entity founded in 1954 and headquartered in Chicago, manages the Newgate Mall Mortgaged Property. GGP, the second largest owner/operator of regional malls in the U.S., owns or operates 163 properties containing a total of approximately 135 million square feet and 15,000 retail tenants, numbers that continue to grow through development, expansion and acquisition. GGP owns 90 of the properties, has partial interests in 45 and manages the rest for institutional owners.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(MAP)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

STERLING ESTATES MANUFACTURED HOME COMMUNITY

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

STERLING ESTATES MANUFACTURED HOME COMMUNITY



Loan Information





Original Principal Balance:		$40,500,000




First Payment Date:		June 1, 2003




Term/Amortization:		84/360 months




Interest Only Period:		6 months




Maturity Date:		May 1, 2010




Expected Maturity Balance:		$36,265,672




Borrowing Entity:		Sterling Estates (Delaware), LLC




Interest Calculation:		Actual/360




Call Protection:		Lockout/defeasance: 78 payments Open: 6 payments




Up-Front Reserves:




	Tax Reserve:	Yes




	Repair Reserve:	$24,250




	Other Reserve:	$2,500,000(1)




Ongoing Monthly Reserve:




	Tax/Insurance Reserve:	Yes




	Replacement Reserve:	$2,080




Lockbox:		No


(1)	Rental Holdback Reserves.



Financial Information





Cut-off Date Balance:		$40,500,000




Cut-off Date LTV:		76.7%




Maturity Date LTV:		68.7%




*Underwritten DSCR:**		1.39x




Mortgage Rate:		4.950%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Manufactured Housing Community




Property Sub-Type:		Mobile Home




Location:		Justice, IL




Year Built/Renovated:		1962/1993




Pads:		806




Cut-off Balance per Pad:		$50,248




Occupancy as of 8/22/03:		95.6%




Ownership Interest:		Fee




Property Management:		Capital First Realty, Inc.




U/W Net Cash Flow:		$3,613,922




Appraised Value:		$52,800,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(6/30/03)		(12/31/02)

Effective Gross Income	$	5,324,122	$	5,117,610	$	4,974,166




Total Expenses	$	1,669,900	$	1,364,976	$	1,537,513




Net Operating Income (NOI)	$	3,654,222	$	3,752,634	$	3,436,653




Cash Flow (CF)	$	3,613,922	$	3,752,634	$	3,436,653




DSCR on NOI		1.41x		1.45x		1.32x




DSCR on CF		1.39x		1.45x		1.32x

Additional Information


•	The Sterling Estates Manufactured Home Community Mortgaged Property is an 806-pad, 81-acre mobile home park located in Justice, Illinois. The park was built in 1962 (519 pads) and expanded periodically from 1974-1993 (287 pads). Amenities include a two-story clubhouse and community center, swimming pool, playground, mature landscaping, 32-foot wide asphalt/concrete paved roads and a card-access security gate. The existing mobile home mix is 55% doublewide and 45% singlewide, with two off-street concrete parking spaces per pad.

•	As of the rent roll dated 08/22/03, the Sterling Estates Manufactured Home Community Mortgaged Property was 95.6% leased.

•	The Sterling Estates Manufactured Home Community Borrower, at its sole cost and expense, is required to keep the Sterling Estates Manufactured Home Community Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Sterling Estates Manufactured Home Community Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Sterling Estates Manufactured Home Community Borrower is 100% held by Sterling Estates Limited Partnership as the sole Member. The limited partnership is owned by The Klarchek Family Trust as limited partner (99%) and Sterling Estates Corp. as General Partner (1%). The Klarchek Family Trust owns 100% of Sterling Estates Corp.

•	The Sterling Estates Manufactured Home Community Borrower, Sterling Estates (Delaware), LLC, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Capital First Realty, Inc., a Sterling Estates Manufactured Home Community Borrower related entity manages the Sterling Estates Manufactured Home Community Mortgaged Property. The company has been in business for over 20 years, with 16 mobile home parks (6,250 pads) currently under management. Six are located in Illinois, one in Minnesota, seven in Indiana and two in Michigan. Four of the Illinois properties are located in the Chicago metropolitan statistical area/Cook County market.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

•

The Sterling Estates Manufactured Home Community Borrower has established a rental holdback reserve at loan closing of $2,500,000. The Sterling Estates Manufactured Home Community Borrower is entitled to one release of all or portion of the reserve funds until 12/31/03 subject to (1) no event of default under the Mortgage Loan documents has occurred and is continuing, (2) the Sterling Estates Manufactured Home Community Borrower shall provide evidence of implementation of the August 2003 rental increase, (3) minimum debt service coverage ratio of 1.25x based on the trailing 12-month period, and (4) minimum debt service coverage ratio of 1.00x based on the trailing 3-month period annualized is not less than 1.00x. If all or a portion of the reserve funds have not been released by the 12/31/03 deadline, the mortgagee is required to retain the holdback until the Mortgaged Property achieves a debt service coverage ratio of 1.25x based on the trailing 12-month period, at which time the reserve funds will be deposited into a reserve account designated under the loan agreement. The funds would then be available for capital improvement upgrades to the Mortgaged Property for the remainder of the loan term, but not available for required repairs or regular replacements that are funded from the reserve account for replacement and reserves.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

NESTLE INDUSTRIAL — DEKALB

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

NESTLE INDUSTRIAL — DEKALB



Loan Information





Original Principal Balance:		$39,604,000





First Payment Date:		November 1, 2003





Term/Amortization:		100/276 months





Maturity Date:		February 1, 2012





Expected Maturity Balance:		$31,354,300





Borrowing Entity:		DeKalb Fairview 2003, LLC





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 94 payments Open: 6 payments





Lockbox:		Hard



Financial Information





Cut-off Date Balance:		$39,604,000




Cut-off Date LTV:		76.2%




Maturity Date LTV:		60.3%




*Underwritten DSCR:**		1.25x




Mortgage Rate:		5.940%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Industrial




Property Sub-Type:		Dist/Warehouse




Location:		DeKalb, IL




Year Built/Renovated:		1993/NA




Net Rentable Square Feet:		865,866




Cut-off Balance per SF:		$46




Occupancy as of 9/23/03:		100.0%




Ownership Interest:		Fee




Property Management:		The Cardinal Company




U/W Net Cash Flow:		$3,966,795




Appraised Value:		$52,000,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


	Underwritten

Effective Gross Income	$	4,364,961




Total Expenses	$	87,299




Net Operating Income (NOI)	$	4,277,662




Cash Flow (CF)	$	3,966,795




DSCR on NOI		1.35x




DSCR on CF		1.25x




	Ratings		Tenant		% Total					Potential		% Potential			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Expiration

Top Tenant†




Nestle		AAA/AAA		860,939		100.0	%	$	5.07	$	4,364,961		100.0	%		12/31/2011

Totals				860,939		100.0	%			$	4,364,961		100.0	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch), Reported Sales 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.

Summary of Significant Tenants

•

The Nestle Industrial-DeKalb Mortgaged Property is 100% leased to Nestle Food Company, with Nestle Holdings, Inc. (Rated AAA by S&P and AAA by Fitch) providing a lease guarantee on an 18-year lease expiring 12/31/11. The average rental rate is $5.07 per square foot with Nestle paying for all operating and capital expenses. Nestle Food Company is part of Nestle USA, which is a subsidiary of Nestle S.A. headquartered in Switzerland and employing approximately 254,000 people (12/31/2002) and generating more than $64 billion in worldwide sales. Nestle products include milk products and dietetic foods, infant foods, chocolate and confections, coffee and other beverages, culinary, refrigerated and frozen items, ice cream, mineral water, food service and professional products and pet foods. Key brands include Nestle, Nestea, Nescafe, Maggie, Buitoni and Purina. Nestle USA offers hundreds of products, including its name brand chocolate and confections, as well as beverages (Nestea, Taster’s Choice), milk products (Carnation), pet food (Alpo, Friskies) ice cream novelties, juices (Libby’s) and prepared foods (Stouffer’s, Ortega). Nestle S.A.’s bottled water brands (Perrier, Poland Spring) are distributed by a separate subsidiary. Nestle USA was named America’s Most Admired Food Company for the sixth consecutive year — Fortune Magazine, March 2003. Nestle USA had $6.6 billion in sales in 2002, with 15,000 employees, in 26 manufacturing facilities, 4 distribution centers and 15 sales offices located throughout the country.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Nestle Industrial-DeKalb Mortgaged Property is a one-story industrial warehouse distribution building built in 1993 containing 865,866 net rentable square feet situated on a 157.0-acre site including approximately 58.9 acres of surplus land located in DeKalb, Illinois. The Nestle Industrial-DeKalb Mortgaged Property contains 30,979 square feet of general office space and 6,460 square feet of warehouse office space, or combined 37,439 square feet of office space representing 4.3% of the total square feet. The general office and warehouse office space is finished with typical drywall partitioning, carpet flooring and full HVAC. The warehouse space has a clear height of 30 feet, with 420,000 square feet ambient temperature and 380,000 square feet air-conditioned. There are 69 truck doors, plus 2 doors with ramps and 1 trash compactor door. The facility is served by rail. The Nestle Industrial-DeKalb Mortgaged Property is located on the Illinois East-West Tollway, or Interstate-88, at the DeKalb/Pease Road Interchange, in a 460-acre master planned industrial park known as Park 88. Park 88 is strategically designed to accommodate over 9 million square feet of distribution, manufacturing, office, and service/retail uses.

•	The Nestle Industrial-DeKalb Borrower, at its sole cost and expense, is required to keep the Nestle Industrial-DeKalb Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Nestle Industrial-DeKalb Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Nestle Industrial-DeKalb Borrower is held by Illinois Fairview 2003, LLC, a Delaware limited liability company. Carl Buck, George Hicker and certain other persons are the owners of Illinois Fairview 2003, LLC.

•	The Nestle Industrial-DeKalb Borrower, DeKalb Fairview 2003, LLC, is a single purpose, bankruptcy remote entity.

•	The Nestle Industrial-DeKalb Mortgaged Property is managed by The Cardinal Company. The Cardinal Company was formed in 1985 and is located in Sherman Oaks, California. George Hicker, one of the original organizers of The Cardinal Company, is responsible for the day-to-day operations of the company.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

COLONNADE OFFICE BUILDING

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

COLONNADE OFFICE BUILDING



Loan Information





Original Principal Balance:		$38,000,000





First Payment Date:		June 1, 2003





Term/Amortization:		120/360 months





Interest Only Period:		30 months





Maturity Date:		May 1, 2013





Expected Maturity Balance:		$33,721,555





Borrowing Entity:		Crescent Colonnade, LLC





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 117 payments Open: 3 payments





Up-Front Reserves:





	Repair Reserve:	$35,175





Ongoing Monthly Reserve:





	Replacement Reserve:	$5,828 for the first 37 payments of the loan term and $1,699 for remaining 83 payments of the loan term





	TI/LC Reserve:	$10,417





Lockbox:		Hard



Financial Information





Cut-off Date Balance:		$38,000,000




Cut-off Date LTV:		71.0%




Maturity Date LTV:		63.0%




*Underwritten DSCR:**		1.47x




Mortgage Rate:		5.530%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Office




Property Sub-Type:		Suburban




Location:		Coral Gables, FL




Year Built/Renovated:		1926/1989




Net Rentable Square Feet:		208,039




Cut-off Balance per SF:		$183




Occupancy as of 6/30/03:		89.8%




Ownership Interest:		Fee




Property Management:		Crescent Real Estate Equities Limited Partnership




U/W Net Cash Flow:		$3,829,320




Appraised Value:		$53,500,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(6/30/03)		(12/31/02)

Effective Gross Income	$	6,282,565	$	5,846,736	$	5,186,712




Total Expenses	$	2,119,642	$	1,882,784	$	1,875,732




Net Operating Income (NOI)	$	4,162,923	$	3,963,952	$	3,310,980




Cash Flow (CF)	$	3,829,320	$	3,963,952	$	3,090,745




DSCR on NOI		1.60x		1.53x		1.27x




DSCR on CF		1.47x		1.53x		1.19x




	Ratings		Tenant		% Total					Potential		% Potential			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Expiration

Top Tenants†




BAC Florida Bank		Not Rated		40,857		19.6	%	$	32.49	$	1,327,559		21.3	%		4/30/2012




Texaco, Inc.		AA/AA		33,697		16.2		$	29.00		977,213		15.7			1/31/2012




AT&T Corp.		BBB/BBB		26,021		12.5		$	30.50		793,641		12.8			12/31/2006




Colonnade Corporate Center		Not Rated		22,530		10.8		$	25.00		563,250		9.1			3/31/2013

Totals				123,105		59.2	%			$	3,661,663		58.9	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch), 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.


	Number of Leases		Expiring		% Total			Cumulative		Cumulative %
	Expiring		SF		SF			Total SF		Total SF

Year of Expiration




2004		3		8,764		4.2	%		8,764		4.2	%




2005		2		6,506		3.1			15,270		7.3	%




2006		4		28,633		13.8			43,903		21.1	%




2007		2		6,129		2.9			50,032		24.1	%




2008		5		10,859		5.2			60,891		29.3	%




2009		5		30,374		14.6			91,265		43.9	%




2012		3		74,554		35.8			165,819		79.7	%




2013		1		22,530		10.8			188,349		90.5	%




Vacant				19,684		9.5			208,033		100.0	%

Total		25		208,033		100.0	%

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Summary of Significant Tenants


•	BAC Florida Bank (Not Rated), headquartered in Nicaragua, has located its North American operations at the Mortgaged Property. BAC Florida Bank, a full service commercial banking institution specializing in institutional and private banking services, is a federally registered broker dealer and a member of the NASD. In addition to the 9,259 square feet of retail space located on the ground floor of the Rotunda building, BAC Florida Bank also leases 31,598 square feet (two full floors) in the office building for a total of 40,857 square feet (19.6% of the total square feet and 21.5% of total income).

•	Texaco Caribbean Inc (Chevron USA Inc., Rated AA by S&P and AA by Fitch) uses the Mortgaged Property as its headquarters for all Latin American operations serving 40 countries across the Caribbean, Central America and South America. There are more than 4,700 outlets of Texaco-branded service stations throughout the region. Texaco leases 33,697 square feet (16.2% of the total square feet and 15.4% of total income).

•	AT&T Corp. (Rated BBB by S&P and BBB by Fitch) is the lessee under the lease, but the space is occupied by AT&T’s Latin American operations. Although the lease is for 26,021 square feet (12.5% of the total square feet and 12.5% of total income), AT&T occupies 15,138 square feet and subleases the remaining 10,883 square feet to John Hancock Life Insurance Company.

•	Colonnade Corporate Center (Not Rated) consists of 72 executive suites and two conference facilities. The tenant, 50% owned by an entity related to the original borrower, paid $1.5 million for the tenant improvements. The tenant leases 22,530 square feet (10.8% of the total square feet and 9.2% of total income). Bayview Financial Trading Group, L.P., the original borrower principal, guarantees all rental revenue and expense reimbursements ($582,017 annually, 9.2% of total income) for the Colonnade Corporate Center lease for the first two loan years.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Colonnade Office Building Mortgaged Property is an 11-story Class A office building containing 208,039 net rentable square feet and an adjacent nine-story parking garage situated on a 1.0 acre site located in Coral Gables, Florida.

•	The Colonnade Office Building Mortgaged Property is part of a mixed-use development called The Colonnade, consisting of four structures: the Rotunda building, the Colonnade Office Building Mortgaged Property office building and parking garage, and a 157-room Omni Hotel. The Colonnade Office Building Borrower has a leased fee condominium interest in the Rotunda building, the office building and the parking garage, whereas Arden Colonnade, the owner of the Omni Hotel, has a leased fee condominium interest in the hotel, each having an undivided 50% interest in the common areas. The Rotunda building, which comprises the lobby and mezzanine levels of The Colonnade, was built in 1926, whereas the upper floors of the office building, the parking garage and the hotel were built in 1989. The Rotunda building was renovated in 1989 as part of the construction of the entire development. Retail and restaurant tenants are located on the ground floor and mezzanine level of the Rotunda building with office tenants located on the upper levels of the office building. The Rotunda building is a registered historical landmark.

•	As of the rent roll dated 06/30/03, the Colonnade Office Building Mortgaged Property was 89.8% leased. Two signed leases, one of 9,500 square feet to Arden Colonnade, LLC with occupancy to commence in November 2003 and another of 2,543 square feet with occupancy having commenced in July 2003 will increase leasing to 95.6%.

•	The Colonnade Office Building current borrower principal purchased the Colonnade Office Building Mortgaged Property on August 26, 2003 for $52 million, which results in cash equity of $14 million.

•	The Colonnade Office Building Borrower, at its sole cost and expense, is required to keep the Colonnade Office Building Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Colonnade Office Building Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Colonnade Office Building Borrower is wholly owned by BV Colonnade Holdings, LLC, which is wholly owned by the current borrower principal, Crescent Real Estate Equities Limited Partnership (the “Colonnade Office Building Borrower Principal”). Founded 20 years ago, the Colonnade Office Building Borrower Principal is a financial services company that specializes in principal take-outs, advisory services, mortgage banking, and loan and servicing rights brokerage to mortgage bankers, financial institutions and small business owners nationwide. The Colonnade Office Building Borrower Principal acts as a principal in transactions, including the acquisition of residential and commercial real estate loans, private mortgage-backed securities and financial institution debt.

•	The Colonnade Office Building Borrower, Crescent Colonnade, LLC, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Crescent Real Estate Equities Limited Partnership (“Crescent”) manages the Colonnade Office Building Mortgaged Property. Crescent, founded in 1994 and headquartered in Fort Worth, Texas, owns and/or manages 73 office properties totaling approximately 29.5 million square feet located in Texas and Colorado. Crescent also owns six luxury resorts and spas located in California, Colorado, Arizona and Massachusetts.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(MAP)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

4501 NORTH FAIRFAX OFFICE BUILDING

Photo #15

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

4501 NORTH FAIRFAX OFFICE BUILDING



Loan Information





Original Principal Balance:		$37,500,000




First Payment Date:		July 1, 2003




Term/Amortization:		120/360 months




Interest Only Periods:		Initial 3 months Final 36 months




Maturity Date:		June 1, 2013




Expected Maturity Balance:		$33,528,112




Borrowing Entity:		Jamestown 4501, L.P.




Interest Calculation:		Actual/360




Call Protection:		Lockout/defeasance: 117 payments Open: 3 payments




Up-Front Reserves:




	Tax/Insurance Reserve:	Yes




	TI/LC Reserve:	$3,776,512




	Other Reserve:	$1,011,185(1)




Ongoing Monthly Reserve:




	Tax/Insurance Reserve:	Yes




	Replacement Reserve:	$1,760




Lockbox:		Hard


(1)	Escrows are established at closing and are released upon the satisfaction of various occupancy and rent commencement requirements.



Financial Information





Cut-off Date Balance:		$37,456,745




Cut-off Date LTV:		60.3%




Maturity Date LTV:		54.0%




*Underwritten DSCR:**		1.54x




Mortgage Rate:		5.220%

*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Office




Property Sub-Type:		Suburban




Location:		Arlington, VA




Year Built/Renovated:		2002/NA




Net Rentable Square Feet:		191,967




Cut-off Balance per SF:		$195




Occupancy as of 9/1/03:		98.2%




Ownership Interest:		Fee




Property Management:		Jamestown Commercial Management, LLC




U/W Net Cash Flow:		$3,818,309




Appraised Value:		$62,100,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


	Underwritten

Effective Gross Income	$	6,142,007




Total Expenses	$	1,989,433




Net Operating Income (NOI)	$	4,152,574




Cash Flow (CF)	$	3,818,309




DSCR on NOI		1.68x




DSCR on CF		1.54x


												%
	Ratings		Tenant		% Total					Potential		Potential			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Expiration

Top Tenants†




MeriStar/Interstate		CCC+/Not Rated		84,668		44.1	%	$	30.00	$	2,540,040		40.3	%		8/31/2013




GSA-Fish & Wildlife		US Govt.		65,020		33.9		$	37.12		2,413,674		38.3			8/11/2012




Advanced Resources Int’l		Not Rated		14,270		7.4		$	31.25		445,938		7.1			1/31/2014

Totals				163,958		85.4	%			$	5,399,652		85.8	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.


	Number of		Expiring		% Total			Cumulative		Cumulative %
Year of Expiration	Leases Expiring		SF		SF			Total SF		Total SF

2007		1		4,673		2.4	%		4,673		2.4	%




2008		1		3,337		1.7			8,010		4.2	%




2009		1		6,057		3.2			14,067		7.3	%




2012		2		65,020		33.9			79,087		41.2	%




2013		4		90,455		47.1			169,542		88.3	%




2014		1		14,270		7.4			183,812		95.8	%




Vacant				8,155		4.2			191,967		100.0	%

Total		10		191,967		100.0	%

Summary of Significant Tenants


•	Meristar H&R Operating Co. LP (Rated CCC+ by S&P and Not Rated by Fitch) occupies 84,668 square feet (44% of total square feet and 40% of NRI) on two leases maturing in 2013 with two five-year renewal options. The company currently manages over 400 hotels under most every flag in 45 states and Canada and is the third largest hotel real estate investment trust in the U.S. The Mortgaged Property will become the company’s new headquarters as employees relocate from Pittsburgh.(1)

•	GSA US Fish & Wildlife (“GSA”) (US Govt.) occupies 65,020 square feet (34% of total square feet and 38% of NRI) on two leases maturing in 2012. The GSA leases the space on behalf of the Department of Interior’s US Fish & Wildlife Agency. The Fish & Wildlife Service has been in existence for 125 years, lists 7,500 employees and has over 700 offices around the country with an annual budget of over $2 billion for general fish and wildlife conservation.

•	Advance Resources Intl Inc. (Not Rated) occupies 14,270 square feet (7.4% of total square feet) is a privately owned international energy and environmental consulting firm founded in 1991.


(1)	On September 29, 2003, S&P announced a downgrade to “CCC+” the senior unsecured debt rating of MeriStar Hospitality Corp., citing concerns that the company’s sale of new bonds may make it more difficult to maintain interest payments.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The 4501 North Fairfax Office Building Mortgaged Property is nine-story Class A office building built during 2002 and 2003 containing 191,967 net rentable square feet situated on 1.84 acres located in Arlington, Virginia. The improvements consist of 181,736 square feet of office space (94.7%), 10,231 square feet of street-level retail space (5.3%) and a three-level, below-grade parking garage. The 4501 North Fairfax Office Building Mortgaged Property is located 5.5 miles west of downtown Washington, DC in the Suburban Virginia market and the Ballston/Clarendon submarket at the convergence of Interstate-66, US 29 and Route 50.

•	As of the rent roll dated 09/01/03, the 4501 North Fairfax Office Building Mortgaged Property was 98.2% leased.

•	The 4501 North Fairfax Office Building Borrower purchased the 4501 North Fairfax Office Building Mortgaged Property for approximately $61 million

•	The 4501 North Fairfax Office Building Borrower, at its sole cost and expense, is required to keep the 4501 North Fairfax Office Building Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The 4501 North Fairfax Office Building Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The 4501 North Fairfax Office Building Borrower is held by JT 4501 Corp (0.1%), which is wholly owned by Jamestown 24 Investment Services L.P. and its principals, and Jamestown 4501 Partners (99.9%), which is owned by United States and German investors. Jamestown, co-headquartered in Atlanta, Georgia and Cologne, Germany, is a real estate investment and management company that has been investing in United States commercial real estate since 1983.

•	The 4501 North Fairfax Office Building Borrower, Jamestown 4501, L.P., is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Jamestown Commercial Management, LLC manages the 4501 North Fairfax Office Building Mortgaged Property. The firm has been in business for 20 years and currently manages 7.5 million square feet.

•	The 4501 North Fairfax Office Building Borrower has established a reserve account to mitigate the potential for expiration of the Interstate Hotels & Resorts / Meristar Hospitality Corp. and General Services Administration leases in 2013 and 2012, respectively. The 4501 North Fairfax Office Building Borrower is required to deposit $133,394 per month during the last three years of the loan term such that $4,800,000 has been escrowed by the loan maturity date. The reserve funds can be reduced or eliminated if one or both tenants extend their leases prior to or during the escrow period assuming the renewal terms are satisfactory. The 4501 North Fairfax Office Building Borrower may draw from the reserve for tenant improvements and leasing commissions based on criteria outlined in the loan documents.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(MAP)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

HARRISON PARK APARTMENTS (Cross-Collateralized with Suntree Village Apartments)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

HARRISON PARK APARTMENTS (Cross-Collateralized with Suntree Village Apartments)



Loan Information





Original Principal Balance:		$18,550,000





First Payment Date:		October 1, 2003





Term/Amortization:		84/360 months





Interest Only Period:		23 months





Maturity Date:		September 1, 2010





Expected Maturity Balance:		$17,180,189





Borrowing Entity:		Harrison Park Limited Partnership





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 82 payments Open: 2 payments





Up-Front Reserves:





	Tax/Insurance Reserve:	Yes





	Repair Reserve:	$8,363





Ongoing Monthly Reserve:





	Tax/Insurance Reserve:	Yes





	Replacement Reserve:	$7,500





Lockbox:		No



Financial Information





Cut-off Date Balance:		$18,550,000




Cut-off Date LTV:		76.3%




Maturity Date LTV:		70.7%




*Underwritten DSCR:**		1.21x




Mortgage Rate:		5.285%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Multifamily




Property Sub-Type:		Garden Style




Location:		Tucson, AZ




Year Built/Renovated:		1985/NA




Units:		360




Cut-off Balance per Unit:		$51,528




Occupancy as of 8/20/03:		93.3%




Ownership Interest:		Fee




Property Management:		Dial Equities, Inc.




U/W Net Cash Flow:		$1,490,223




Appraised Value:		$24,300,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(7/31/03)		(12/31/02)

Effective Gross Income	$	2,693,533	$	2,639,014	$	2,811,557




Total Expenses	$	1,113,310	$	1,099,658	$	1,047,591




Net Operating Income (NOI)	$	1,580,223	$	1,539,357	$	1,763,966




Cash Flow (CF)	$	1,490,223	$	1,435,677	$	1,763,966




DSCR on NOI		1.28x		1.25x		1.43x




DSCR on CF		1.21x		1.16x		1.43x


	1 Bedroom		2 Bedroom		3 Bedroom

Number of Units		88		208		64




Average Rent	$	589	$	695		$840




Average Unit Size (SF)		720		902		1,121

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Harrison Park Apartments Mortgaged Property is a 360-unit apartment complex consisting of 28 one- and two-story apartment buildings containing a total of 322,636 net rentable square feet and a clubhouse building with leasing office and a fitness center situated on 14.1 acres located in Tucson, Arizona. The Harrison Park Apartments Mortgaged Property was built in two phases. Phase I (172 units) was completed in 1985 and Phase II (188 units) was completed in 1996. The apartment mix consists of 88 1BR/1B units ranging in size from 717 to 721 square feet, 44 2BR/1B units of 810 square feet, 164 2BR/2B units ranging in size from 900 to 943 square feet and 64 3BR/2B units of 1,121 square feet. Amenities include two swimming pools, three spas and a monitored security system with gated entry. Unit amenities include a full-size washer/dryer, stove/oven, range hood with microwave, frost-free refrigerator, dishwasher, patio/porch area, storage closet, ceiling fan, mini blinds and/or drapes and high speed Internet access.

•	As of the rent roll dated 08/20/03, the Harrison Park Apartments Mortgaged Property was 93.3% leased.

•	The Harrison Park Apartments Borrower purchased the Harrison Park Apartments Mortgaged Property for $23.875 million.

•	The Harrison Park Apartments Borrower, at its sole cost and expense, is required to keep the Harrison Park Apartments Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Harrison Park Apartments Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Harrison Park Apartments Borrower is held by SunHarris, LLC as the General Partner (0.01%) and by Haley Associates Limited Partnership as the sole Limited Partner (99.99%).

•	The Harrison Park Apartments Borrower, Harrison Park Limited Partnership, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Dial Equities, Inc., a Harrison Park Apartments Borrower related entity based in Omaha, Nebraska, manages the Harrison Park Apartments Mortgaged Property. Dial Equities, Inc. manages 23 properties totaling 5,561 units, of which four properties totaling 1,262 units are located in the Tucson market.

•	The Harrison Park Apartments Mortgaged Property is cross-collateralized and cross-defaulted with the Suntree Village Apartments Mortgaged Property, a 424-unit apartment complex located in Oro Valley, Arizona.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

SUNTREE VILLAGE APARTMENTS (Cross-Collateralized with Harrison Park Apartments)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

SUNTREE VILLAGE APARTMENTS (Cross-Collateralized with Harrison Park Apartments)



Loan Information





Original Principal Balance:		$17,700,000





First Payment Date:		October 1, 2003





Term/Amortization:		84/360 months





Interest Only Period:		23 months





Maturity Date:		September 1, 2010





Expected Maturity Balance:		$16,392,957





Borrowing Entity:		Suntree Village Limited Partnership





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 82 payments Open: 2 payments





Up-Front Reserves:





	Tax/Insurance Reserve:	Yes





	Repair Reserve:	$37,666





Ongoing Monthly Reserve:





	Tax/Insurance Reserve:	Yes





	Replacement Reserve:	$8,833





Lockbox:		No



Financial Information





Cut-off Date Balance:		$17,700,000




Cut-off Date LTV:		80.4%




Maturity Date LTV:		74.4%




*Underwritten DSCR:**		1.21x




Mortgage Rate:		5.285%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Multifamily




Property Sub-Type:		Garden Style




Location:		Oro Valley, AZ




Year Built/Renovated:		1986/NA




Units:		424




Cut-off Balance per Unit:		$41,745




Occupancy as of 8/20/03:		95.3%




Ownership Interest:		Fee




Property Management:		Dial Equities, Inc.




U/W Net Cash Flow:		$1,425,093




Appraised Value:		$22,025,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(7/31/03)		(12/31/02)

Effective Gross Income	$	2,662,549	$	2,705,067	$	2,708,747




Total Expenses	$	1,131,456	$	1,133,568	$	1,085,364




Net Operating Income (NOI)	$	1,531,093	$	1,571,499	$	1,623,383




Cash Flow (CF)	$	1,425,093	$	1,437,454	$	1,623,383




DSCR on NOI		1.30x		1.33x		1.38x




DSCR on CF		1.21x		1.22x		1.38x


	1 Bedroom		2 Bedroom		3 Bedroom

Number of Units		192		231		1




Average Rent	$	494	$	632		$800




Average Unit Size (SF)		672		974		1,167

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Suntree Village Apartments Mortgaged Property is a 424-unit apartment complex consisting of 20 two-story and nine three-story apartment buildings built in 1986 containing a total of 355,188 net rentable square feet and a clubhouse building with leasing office situated on 15.9 acres located in Oro Valley, Arizona. The apartment mix consists of 192 1BR/1B units ranging in size from 655 to 688 square feet, 55 2BR/1B units of 883 square feet, 176 2BR/2B units of 1,003 square feet and one 3BR/2B unit of 1,167 square feet. Project amenities include a Jacuzzi, 6 pools, fitness center and lighted sport court. Unit amenities include a full-size washer and dryer, frost-free refrigerator, microwave, ceiling fan, vertical and mini blinds, patio/balcony, and storage closet. Some of units have fireplaces.

•	As of the rent roll dated 08/20/03, the Suntree Village Apartments Mortgaged Property was 95.3% leased.

•	The Suntree Village Apartments Borrower purchased the Suntree Village Apartments Mortgaged Property for $22.025 million.

•	The Suntree Village Apartments Borrower, at its sole cost and expense, is required to keep the Suntree Village Apartments Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Suntree Village Apartments Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Suntree Village Apartments Borrower is held by SunHarris LLC as the General Partner (0.01%) and by Haley Associates Limited Partnership as the sole Limited Partner (99.99%).

•	The Suntree Village Apartments Borrower, Suntree Village Limited Partnership, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Dial Equities, Inc., a Suntree Village Apartments Borrower related entity based in Omaha, Nebraska, manages the Suntree Village Apartments Mortgaged Property. Dial Equities, Inc. manages 23 properties totaling 5,561 units, of which four properties totaling 1,262 units are located in the Tucson market.

•	The Suntree Village Apartments Mortgaged Property is cross-collateralized and cross-defaulted with the Harrison Park Apartments Mortgaged Property, a 360-unit apartment complex located in Tucson, Arizona.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

CYPRESS CREEK APARTMENTS

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

CYPRESS CREEK APARTMENTS



Loan Information





Original Principal Balance:		$35,000,000





First Payment Date:		November 1, 2003





Term/Amortization:		180/360 months





Maturity Date:		October 1, 2018





Expected Maturity Balance:		$25,095,464





Borrowing Entity:		Timber Ridge/ Cypress Creek Limited Partnership





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 177 payments Open: 3 payments





Up-Front Reserves:





	Repair Reserve:	$163,331





	Tax Reserve:	Yes





	Replacement Reserve:	$366,000





	Other:	$625,020(1)





Ongoing Monthly Reserve:





	Tax Reserve:	Yes





	Replacement Reserve:	$17,417





Lockbox:		No


(1)	Environmental and construction repairs reserve.



Financial Information





Cut-Off Date Balance:		$35,000,000




Cut-off Date LTV:		67.3%




Maturity Date LTV:		48.3%




*Underwritten DSCR:**		1.59x




Mortgage Rate:		5.58%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Multifamily




Property Sub-Type:		Garden Style




Location:		Hyattsville, MD




Year Built/Renovated:		1947/1986




Units:		760




Cut-off Balance per Unit:		$46,053




Occupancy as of 08/29/03:		90.9%




Ownership Interest:		Fee




Property Management:		Realty Management Services, Inc.




U/W Net Cash Flow:		$3,830,680




Appraised Value:		$52,000,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(7/31/03)		(12/31/02)

Effective Gross Income	$	7,076,210	$	7,071,264	$	7,123,765




Total Expenses	$	3,036,530	$	2,945,331	$	2,798,325




Net Operating Income (NOI)	$	4,039,680	$	4,125,933	$	4,325,440




Cash Flow (CF)	$	3,830,680	$	2,646,317	$	3,090,543




DSCR on NOI		1.68x		1.71x		1.80x




DSCR on CF		1.59x		1.10x		1.28x


	1 Bedroom		2 Bedroom		3 Bedroom

Number of Units		380		190		190




Average Rent	$	764	$	923	$	1,011




Average Unit Size (SF)		623		850		970

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The Cypress Creek Apartments Mortgaged Property is a 760-unit apartment complex consisting of 81 three- and four-story garden-style apartment buildings built in 1947 and extensively renovated in 1986 containing a total of 582,492 net rentable square feet situated on 28.9 acres located in Hyattsville, Maryland. Additional improvements include a one-story clubhouse building with leasing office, restrooms and a fitness center. The apartment mix is 380 1BR/1B units of various types ranging in size from 560 to 645 square feet, 190 2BR/2B units of various types ranging in size from 839-848 square feet and 190 3BR/2B units at 970 square feet. Unit amenities include a kitchen package with refrigerator, stove, dishwasher and disposal, and washer/dryer. Project amenities include a clubhouse/leasing office with restrooms and a fitness center, pool and tot lots. The Cypress Creek Apartments Mortgaged Property is located approximately six miles northeast of downtown Washington, DC, four miles southwest of College Park, Maryland and six miles south of the Capitol Beltway in Prince Georges County. A Metro Rail station is located 0.5 miles northwest.

•	As of the rent roll dated 08/29/03, the Cypress Creek Village Apartments Mortgaged Property was 90.9% leased.

•	The Cypress Creek Apartments Borrower, at its sole cost and expense, is required to keep the Cypress Creek Apartments Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The Cypress Creek Apartments Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The Cypress Creek Apartments Borrower is held by Artery Timber Ridge/Cypress Creek LP GP (4%) and by numerous limited partners (96%).

•	The Cypress Creek Apartments Borrower, Timber Ridge/Cypress Creek Limited Partnership, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	Although a Cypress Creek Apartments Borrower affiliate handles certain financial reporting and accounting functions, the Cypress Creek Apartments Mortgaged Property is managed by Realty Management Services (Realty), an independent third party company founded in 1977 and headquartered in Bethesda, Maryland. Realty manages approximately 55 multi-family properties containing approximately 13,000 units located in the Washington, DC metropolitan area.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

KPMG CENTRE

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Significant Mortgage Loans

KPMG CENTRE



Loan Information





Original Principal Balance:		$35,000,000





First Payment Date:		July 1, 2003





Term/Amortization:		60/360 months





Maturity Date:		June 1, 2008





Expected Maturity Balance:		$31,931,176





Borrowing Entity:		Harwood Street Office Limited Partnership





Interest Calculation:		Actual/360





Call Protection:		Lockout/defeasance: 57 payments Open: 3 payments





Up-Front Reserves:





	Tax Reserve:	Yes





Ongoing Monthly Reserve:





	Tax Reserve:	Yes





Lockbox:		No



Financial Information





Cut-off Date Balance:		$34,812,545




Cut-off Date LTV:		51.7%




Maturity Date LTV:		47.4%




*Underwritten DSCR:**		1.92x




Mortgage Rate:		4.200%
*DSCR figures based on net cash flow unless otherwise noted.



Property Information





Property Type:		Office




Property Sub-Type:		CBD




Location:		Dallas, TX




Year Built/Renovated:		1980/2001




Net Rentable Square Feet:		827,704




Cut-off Balance per SF:		$42




Occupancy as of 6/20/03:		83.6%




Ownership Interest:		Fee




Property Management:		Trammell Crow Dallas/Ft. Worth, Ltd.




U/W Net Cash Flow:		$3,938,559




Appraised Value:		$67,400,000

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Financial Information


			Annualized
			Most Recent		Full Year
	Underwritten		(6/20/03)		(12/31/02)

Effective Gross Income	$	11,472,894	$	11,446,180	$	8,444,295




Total Expenses	$	6,303,691	$	6,567,138	$	5,768,155




Net Operating Income (NOI)	$	5,169,203	$	4,879,042	$	2,676,140




Cash Flow (CF)	$	3,938,559	$	4,879,042	$	2,176,140




DSCR on NOI		2.52x		2.38x		1.30x




DSCR on CF		1.92x		2.38x		1.06x




	Ratings		Tenant		% Total					Potential		% Potential			Lease
	S&P/Fitch		Total SF		SF			Rent PSF		Rent		Rent			Expiration

Top Tenants†




KPMG, LLP		Not Rated		215,175		26.0	%	$	14.00	$	3,012,450		24.4	%		3/31/2015




Chase Bank		AA-/A+		93,663		11.3		$	11.50		1,077,125		8.7			3/31/2009




Swiss Reinsurance Company		AA/AA+		89,849		10.9		$	15.69		1,409,948		11.4			2/28/2008




Middleberg Riddle & Gianna		Not Rated		50,622		6.1		$	15.35		777,048		6.3			2/28/2008




Sidley Austin Brown & Wood		Not Rated		50,048		6.0		$	17.75		888,352		7.2			4/1/2008

Totals				499,357		60.3	%			$	7,164,923		58.0	%


†	Information obtained from Underwritten Rent Roll except for Ratings (S&P/Fitch) 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 % of Potential Rent include base rent only and exclude common area maintenance expense and reimbursement.




	Number of Leases		Expiring		% Total			Cumulative		Cumulative %
	Expiring		SF		SF			Total SF		Total SF
Year of Expiration
2003		1		2,501		0.3	%		2,501		0.3	%




2004		3		10,970		1.3			13,471		1.6	%




2005		5		19,915		2.4			33,386		4.0	%




2006		2		11,727		1.4			45,113		5.5	%




2007		1		5,507		0.7			50,620		6.1	%




2008		10		193,115		23.3			243,735		29.4	%




2009		1		93,663		11.3			337,398		40.8	%




2010		1		4,971		0.6			342,369		41.4	%




2012		3		44,059		5.3			386,428		46.7	%




2013		2		45,983		5.6			432,411		52.2	%




2014		8		45,260		5.5			477,671		57.7	%




2015		7		215,175		26.0			692,846		83.7	%




MTM		3		5,300		0.6			698,146		84.3	%




Vacant				129,558		15.7			827,704		100.0	%

Total		47		827,704		100.0	%

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Summary of Significant Tenants


•	KPMG LLP (Not Rated) occupies 215,175 square feet (26%) at $14.00 per square foot increasing to $19.00 per square foot by the last year of the lease maturing in 2015. A major financial accountant/auditor and consultant, the firm employs nearly 100,000 professionals worldwide and generated $10.7 billion in 2002 revenues. The company provides professional advisory services in the areas of auditing, tax and legal, corporate finance, divestitures, mergers and acquisitions.

•	Chase Bank (J.P. Morgan Chase & Co., Rated AA- by S&P and A+ by Fitch) occupies 93,663 square feet (11%) at $11.50 per square foot increasing to $13.00 per square foot for the last two years of the lease maturing in 2009. JPMorgan Chase Bank is one of the largest financial institutions in the world.

•	Swiss Reinsurance Company (Rated AA by S&P and AA+ by Fitch) occupies 75,241 square feet (9%) at $15.35 per square foot on a lease maturing in 2008. Swiss Reinsurance has over 70 offices and over 8,300 employees. The company provides risk transfer, risk financing and asset management to its global client base.

•	Middleberg Riddle & Gianna (Not Rated) occupies 50,622 square feet (6%) at $15.35 per square foot on a lease maturing in 2008. The law firm with offices located in Dallas, Austin, New Orleans and Baton Rouge provides legal services in a wide variety of areas, including product liability, toxic tort and mass class-action suits, employment law and commercial matters.

•	Sidley Austin Brown & Wood (Not Rated) occupies 50,048 square feet (6%) at $17.75 per square foot on a lease maturing in 2008. The company is an international law firm with 1,400 attorneys providing legal services in corporate, banking, regulatory, intellectual property and litigation law.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Information


•	The KPMG Centre Mortgaged Property is a 34-story central business district office building built in 1980 containing 827,704 net rentable square feet situated on 1.0 acres located in Dallas, Texas.

•	As of the rent roll dated 06/20/03, the KPMG Centre Mortgaged Property is 83.6% leased.

•	The KPMG Centre Borrower, at its sole cost and expense, is required to keep the KPMG Centre Mortgaged Property insured against loss or damage by fire and other risks addressed by coverage of a comprehensive all risk insurance policy. The KPMG Centre Borrower is also required to use commercially reasonable efforts to maintain a comprehensive all risk insurance policy without an exclusion for terrorist acts.

•	The KPMG Centre Borrower, Harwood Street Office Limited Partnership, is a single purpose, bankruptcy remote entity (as to which borrower’s counsel rendered a non-consolidation opinion at loan closing).

•	The KPMG Centre Borrower is held by the General Electric Pension Trust (99%) as the Limited Partner and by Harwood Street Office, Inc. (1%) as the General Partner.

•	The KPMG Centre Mortgaged Property is managed by Trammell Crow Dallas/Fort Worth, Ltd., a national real estate services firm, developer and owner with 2,000 properties under management, including properties containing 5 million square feet located in the Dallas metropolitan market.

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

(Map to Come)

Banc of America Commercial Mortgage Inc.

Commercial Mortgage Pass-Through Certificates, Series 2003-2

Additional Mortgage Loan Information


-	General. For a detailed presentation of certain characteristics of the Mortgage Loans and Mortgaged Properties, on an individual basis and in tabular format, see Annex A to the prospectus supplement. See Annex B Multifamily Schedule to the prospectus supplement for certain information regarding multifamily Mortgaged Properties. See Annex B Capital Improvement, Replacement Reserve and Escrow Accounts to the prospectus supplement for certain information with respect to capital improvement, replacement and tenant improvement reserves.

-	Cross-Collateralized and Cross-Defaulted Mortgage Loans. Four sets of the Mortgage Loans contain Mortgage Loans (the “Cross-Collateralized Mortgage Loans”) that are, solely as among such Mortgage Loans in such particular set, cross-defaulted and cross-collateralized with each other. This set represents 5.3% of the Initial Pool Balance (2.1% of the Group 1 Balance and 13.0% of the Group 2 Balance). Each of the Cross-Collateralized Mortgage Loans is evidenced by a separate Mortgage Note and secured by a separate Mortgage, which Mortgage or separate cross- collateralization agreement, which may include a subordinate mortgage as the case may be, contains provisions creating the relevant partial cross-collateralization and partial cross-default arrangements. In addition there are also 3 Mortgage Loans representing 0.3% of the Initial Pool Balance which are contained in Loan Group 1 and represent 0.5% of the Group 1 Balance that are cross-defaulted, but not cross-collateralized.

-	Ground Leases. Nine Mortgaged Properties, which represent approximately 14.0% of the Initial Pool Balance (19.7% of the Group 1 Balance), are, in each such case, secured, in whole or in part, by a Mortgage on the applicable borrower’s leasehold interest in the related Mortgaged Property. Generally, either (i) the ground lessor has subordinated its interest in the related Mortgaged Property to the interest of the holder of the related Mortgage Loan or (ii) the ground lessor has agreed to give the holder of the Mortgage Loan notice of, and has granted such holder the right to cure, any default or breach by the lessee.

-	Subordinate Financing. The Mortgage Loans generally either prohibit the related borrower from encumbering the Mortgaged Property with additional secured debt or require the consent of the holder of the first lien prior to encumbering such property. Certain exceptions are noted below and described in the prospectus supplement. Two Mortgage Loans representing 10.1% of the Initial Pool Balance (13.4% of the Group 1 Balance and 2.0% of the Group 2 Balance) have existing mezzanine debt. One Mortgage Loan representing 1.6% of the Initial Pool Balance (2.3% of the Group 1 Balance) has existing unsecured debt. Two of the Mortgage Loans, representing 0.4% of the Initial Pool Balance (0.2% of the Group 1 Balance and 0.8% of the Group 2 Balance), permit additional unsecured debt under certain circumstances. Three of the Mortgage Loans, representing 0.3% of the Initial Pool Balance (0.5% of the Group 1 Balance), permit additional secured debt under certain circumstances. In addition, we are aware that five of the Mortgaged Properties relating to the Mortgage Loans, representing 16.0% of the Initial Pool Balance (22.4% of the Group 1 Balance and 0.4% of the Group 2 Balance), have existing secured debt. Ten of the Mortgage Loans, representing 13.3% of the Initial Pool Balance (10.1% of the Group 1 Balance and 21.4% of the Group 2 Balance), provide that the members of the borrower have the right to incur mezzanine debt under specified circumstances set forth in the related loan documents. See the individual loan descriptions under the heading “Description of the Mortgage Pool” in the prospectus supplement for further information regarding additional indebtedness relating to significant mortgage loans, as well as the information under “Description of the Mortgage Pool — Additional Mortgage Loans — Subordinate Financing in the prospectus supplement. See also “Risk Factors — Risks Related to the Mortgage Loans — Subordinate Financing May Make Recovery Difficult in the Event of Loss” of the prospectus supplement.

NOTES

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