FREE WRITING PROSPECTUS FILED PURSUANT TO RULE 433 REGISTRATION STATEMENT NO.: 333-131262 INFORMATION IN THESE MATERIALS MAY BE AMENDED OR COMPLETED PRIOR TO SALE, DATED JULY 31, 2007. STRUCTURAL AND COLLATERAL INFORMATION $3,300,446,000 (APPROXIMATE) WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC. DEPOSITOR WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES CLASSES A-1, A-2, A-3, A-PB, A-4, A-5, A-1A, IO, A-M, A-J, B, C, D, E AND F -------------------------------------------------- SERIES 2007-C33 -------------------------------------------------- JULY 31, 2007 Sponsors WACHOVIA BANK, NATIONAL ASSOCIATION BARCLAYS CAPITAL REAL ESTATE INC. NOMURA CREDIT & CAPITAL, INC. ARTESIA MORTGAGE CAPITAL CORPORATION Master Servicer WACHOVIA BANK, NATIONAL ASSOCIATION Special Servicer LNR PARTNERS, INC. [LOGO] WACHOVIA SECURITIES [LOGO] BARCLAYS CAPITAL This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. TABLE OF CONTENTS Transaction Structure Transaction Terms ........................................................ 3 Structure Overview ....................................................... 8 Mortgage Pool Characteristics as of the Cut-Off Date General Characteristics .................................................. 11 Property Type ............................................................ 12 Property Location ........................................................ 13 Cut-Off Date Balance ..................................................... 14 Mortgage Rate ............................................................ 14 Underwritten Debt Service Coverage Ratio ................................. 14 Cut-Off Date Loan-to-Value Ratio ......................................... 14 Maturity Date or ARD Loan-to-Value Ratio ................................. 14 Original Term to Maturity ................................................ 15 Remaining Term to Maturity ............................................... 15 Original Amortization Term ............................................... 15 Remaining Stated Amortization Term ....................................... 15 Original Interest-Only Term .............................................. 15 Prepayment Provision Summary ............................................. 15 Seasoning ................................................................ 15 Shadow Rated Loans ....................................................... 15 Twenty Largest Mortgage Loans ............................................. 16 666 Fifth Avenue ......................................................... 17 ING Hospitality Pool ..................................................... 25 Sawgrass Mills ........................................................... 33 Ashford Hospitality Pool 6 ............................................... 41 Independence Mall ........................................................ 51 Potomac Mills ............................................................ 59 Three Borough Pool ....................................................... 67 110 East 42nd Street ..................................................... 73 Central / Eastern Industrial Pool ........................................ 79 The Renaissance .......................................................... 85 84 Lumber Industrial Pool ................................................ 90 Fort 1 Portfolio ......................................................... 94 Exchange Building ........................................................ 96 Nordic Cold Storage Pool ................................................. 98 79 Madison Avenue ........................................................ 100 San Palacio Apartment Homes .............................................. 102 560 Broadway ............................................................. 104 Village Shoppes at Creekside ............................................. 106 The Lion Building ........................................................ 108 High Bluff Ridge at Del Mar .............................................. 110 Additional Mortgage Loan Information ...................................... 112 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- TRANSACTION STRUCTURE - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE MEANINGS ASCRIBED TO THEM IN THE PROSPECTUS SUPPLEMENT, DATED JULY 31, 2007. ISSUE TYPE Sequential pay REMIC. Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class IO, Class A-M, Class A-J, Class B, Class C, Class D, Class E and Class F Certificates (the "Offered Certificates") are offered publicly. All other Certificates will be privately placed. CUT-OFF DATE All Mortgage Loan characteristics are based on balances as of the Cut-Off Date, which is August 1, 2007, with respect to 33 Mortgage Loans, August 5, 2007, with respect to 2 Mortgage Loans, August 10, 2007, with respect to 1 Mortgage Loan and August 11, 2007 with respect to 130 Mortgage Loans. All percentages presented herein are approximate. MORTGAGE POOL The Mortgage Pool consists of 166 Mortgage Loans (the "Mortgage Loans") with an aggregate principal balance as of the Cut-Off Date of $3,602,123,586 (the "Cut-Off Date Pool Balance"), subject to a variance of plus or minus 5%. The Mortgage Loans are secured by 330 properties (the "Mortgaged Properties") located throughout 39 states and the District of Columbia. The Mortgage Pool will be deemed to consist of 2 loan groups ("Loan Group 1" and "Loan Group 2" and, together, the "Loan Groups"). Loan Group 1 will consist of (i) all of the Mortgage Loans that are not secured by Mortgaged Properties that are multifamily and mobile home park properties, (ii) 1 Mortgage Loan that is secured by a multifamily property and (iii) 1 Mortgage Loan that is secured by a mobile home park property, with an aggregate principal balance as of the Cut-Off Date of $3,037,379,648 (the "Cut-Off Date Group 1 Balance"). Loan Group 2 will consist of 36 Mortgage Loans that are secured by Mortgaged Properties that are multifamily and mobile home park properties with an aggregate principal balance as of the Cut-Off Date of $564,743,938 (the "Cut-Off Date Group 2 Balance"). DEPOSITOR Wachovia Commercial Mortgage Securities, Inc. UNDERWRITERS Wachovia Capital Markets, LLC and Barclays Capital Inc. It is intended that Wachovia Securities International Limited will act as a member of the selling group on behalf of Wachovia Capital Markets, LLC and may sell Offered Certificates on behalf of Wachovia Capital Markets, LLC in certain jurisdictions. MORTGAGE LOAN SELLERS Wachovia Bank, National Association ("Wachovia"), Barclays Capital Real AND SPONSORS Estate Inc. ("BCRE"), Nomura Credit & Capital, Inc. ("Nomura") and Artesia Mortgage Capital Corporation ("Artesia"). NUMBER OF AGGREGATE MORTGAGE CUT-OFF DATE % OF INITIAL MORTGAGE LOAN SELLER LOANS BALANCE POOL BALANCE -------------------- --------- -------------- ------------ Wachovia 88 $2,043,814,381 56.7% BCRE 33 724,003,952 20.1 Nomura 17 639,286,752 17.7 Artesia 28 195,018,502 5.4 --- -------------- ----- TOTAL 166 $3,602,123,586 100.0% === ============== ===== This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 3 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- TRUSTEE Wells Fargo Bank, N.A. MASTER SERVICER Wachovia Bank, National Association SPECIAL SERVICER LNR Partners, Inc. RATING AGENCIES Moody's Investors Service, Inc. ("Moody's") and Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies Inc. ("S&P"). DENOMINATIONS $10,000 minimum for the Offered Certificates except for the Class IO Certificates, which will be offered in minimum notional amounts of $1,000,000. CLOSING DATE On or about August 22, 2007. SETTLEMENT TERMS Book-entry through DTC for all Offered Certificates. DISTRIBUTION DATE The fourth business day following the related Determination Date, commencing in September 2007. DETERMINATION 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 September 2007. 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 or Notional Amount of such Class. 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-PB, Class A-4, Class A-5, Class A-1A and Class IO Certificates and the Class A-2FL Regular Interest and the Class A-5FL Regular Interest ranking pari passu in entitlement to interest. The Offered Certificates will accrue interest on the basis of a 360-day year consisting of twelve 30-day months. The interest accrual period with respect to any Distribution Date and any Class of Offered Certificates is the calendar month preceding the month in which the Distribution Date occurs. PRINCIPAL DISTRIBUTIONS Principal will be distributed on each Distribution Date in accordance with the priorities set forth in "DESCRIPTION OF THE CERTIFICATES--Distributions" in the free writing prospectus, dated July 31, 2007 (the "Prospectus Supplement"). Generally, the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4 and Class A-5 Certificates, the Class A-2FL Regular Interest and the Class A-5FL Regular Interest will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 2 until the Certificate Balances of the Class A-5 Certificates and the Class A-5FL Regular Interest have been reduced to zero. If, due to losses, the Certificate Balances of the Class A-M, through Class S Certificates and the Class A-MFL Regular Interest are reduced to zero, but any two or more of the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5 and Class A-1A Certificates, the Class A-2FL Regular Interest and the Class A-5FL Regular Interest remain outstanding, payments of principal (other than distributions of principal otherwise allocable to reduce the Certificate Balance of the Class A-PB Certificates to its planned principal amount) to the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5 and Class A-1A Certificates and the Class A-2FL Regular Interest and the Class A-5FL Regular Interest will be made on a pro rata basis. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 4 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- LOSSES Realized Losses and Additional Trust Fund Expenses, if any, will be allocated to the Class S, Class Q, Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B and Class A-J Certificates, in that order, and then, pro rata, to the Class A-M Certificates and Class A-MFL Regular Interest, and then, pro rata, to the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5 and Class A-1A Certificates and the Class A-2FL Regular Interest and the Class A-5FL Regular Interest. PREPAYMENT PREMIUMS Any Prepayment Premiums or Yield Maintenance Charges actually collected AND YIELD MAINTENANCE on a Mortgage Loan during the related collection period in which the CHARGES prepayment occurred will be distributed to Certificateholders on the related Distribution Date following the collection period in which the prepayment occurred. Generally, the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4 and Class A-5 Certificates, the Class A-2FL Regular Interest and the Class A-5FL Regular Interest will only be entitled to receive distributions of Prepayment Premiums or Yield Maintenance Charges 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 Prepayment Premiums or Yield Maintenance Charges in respect of Mortgage Loans in Loan Group 2 until the Certificate Balances of the Class A-5 Certificates and the Class A-5FL Regular Interest have been reduced to zero. On each Distribution Date, the holders of each Class of Offered Certificates and the Class G, Class H, Class J and Class K Certificates then entitled to principal distributions will be entitled to a portion of Prepayment Premiums or Yield Maintenance Charges equal to the product of (a) the amount of such Prepayment Premiums or Yield Maintenance Charges, multiplied by (b) a fraction, the numerator of which is equal to the excess, if any, of the Pass-Through Rate of such Class of Certificates over the relevant Discount Rate, and the denominator of which is equal to the excess, if any, of the Mortgage Rate of the prepaid Mortgage Loan over the relevant Discount Rate, multiplied by (c) a fraction, the numerator of which is equal to the amount of principal distributable on such Class of Certificates on such Distribution Date, and the denominator of which is the Principal Distribution Amount for such Distribution Date. The portion, if any, of the Prepayment Premiums or Yield Maintenance Charges remaining after any payments described above will be distributed to the holders of the Class IO Certificates. NON-SERVICED LOANS The 666 Fifth Avenue Loan, the ING Hospitality Pool Loan and the Sawgrass Mills Loan will each be serviced pursuant to the pooling and servicing agreement relating to other transactions. See "SERVICING OF THE MORTGAGE LOANS--Servicing of the 666 Fifth Avenue Loan", "--Servicing of the ING Hospitality Pool Loan" and "--Servicing of the Sawgrass Mills Loan" in the Prospectus Supplement. ADVANCES The Master Servicer, and if the Master Servicer fails to do so, the Trustee, will be obligated to make P&I Advances and Servicing Advances, including delinquent property taxes and insurance, on the Mortgage Loans (other than with respect to the 666 Fifth Avenue Loan, the ING Hospitality Pool Loan and the Sawgrass Mills Loan), but only to the extent that such Advances are not deemed non-recoverable and, in the case of P&I Advances, subject to any Appraisal Reductions that may occur. With respect to the 666 Fifth Avenue Loan, Servicing Advances will generally be made by the GE Commercial Mortgage 2007-C1 Master Servicer. With respect to the ING Hospitality Pool Loan, Servicing Advances will generally be made by the Wachovia Bank 2007-C32 Master Servicer. With respect to the Sawgrass Mills Loan, Servicing Advances are expected to be made, on and after the securitization of the related pari passu companion loan, by the master servicer for that securitization. The Master Servicer under the Pooling and Servicing Agreement will make P&I Advances with respect to the 666 Fifth Avenue Loan, the ING Hospitality Pool Loan and the Sawgrass Mills Loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 5 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- APPRAISAL REDUCTIONS An appraisal reduction generally will be created in the amount, if any, by which the principal balance of a Required Appraisal Loan (plus other amounts overdue or advanced in connection with such loan) exceeds 90% of the appraised value of the related Mortgaged Property plus all escrows and reserves (including letters of credit) held with respect to the Mortgage Loan. As a result of calculating an Appraisal Reduction Amount for a given Mortgage Loan, the P&I Advance for such Mortgage Loan will be reduced, which will have the effect of reducing the amount of interest available for distribution to the Subordinate Certificates in reverse order of priority of the Classes. An Appraisal Reduction will be reduced to zero as of the date the related Mortgage Loan has been brought current for at least three consecutive months, paid in full, liquidated, repurchased or otherwise disposed. OPTIONAL TERMINATION The Master Servicer, the Special Servicer and certain Certificateholders will have the option to terminate the Trust Fund in whole, but not in part, and purchase the remaining assets of the Trust Fund on or after the Distribution Date on which the Stated Principal Balance of the Mortgage Loans then outstanding is less than 1% of the Cut-Off Date 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. The Trust Fund may also be terminated under certain circumstances when the Offered Certificates have been paid in full and the remaining outstanding Certificates (other than the Class Z Certificates, Class R-I Certificates and Class R-II Certificates) are held by a single Certificateholder. CONTROLLING CLASS The Class of Sequential Pay Certificates (a) which bears the latest alphabetical Class designation and (b) the Certificate Balance of which is greater than 25% of its original Certificate Balance; provided, however, if no Class of Sequential Pay Certificates satisfies clause (b) above, the Controlling Class shall be the outstanding Class of Sequential Pay Certificates bearing the latest alphabetical Class designation. CONTROLLING CLASS The representative appointed by the holder of the majority of the Class REPRESENTATIVE Principal Balance of the Controlling Class. In addition, the holders of the Companion Loans may have the ability to exercise some or all of the rights of the Controlling Class and the Controlling Class Representative. See "SERVICING OF THE MORTGAGE LOANS--The Controlling Class Representative" in the Prospectus Supplement for more information. ERISA The Offered Certificates are expected to be ERISA eligible. SMMEA The Offered Certificates are not expected to be "mortgage-related securities" for the purposes of SMMEA. TAX The Offered Certificates will be treated as regular interests in a REMIC. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 6 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- TRANSACTION TERMS - -------------------------------------------------------------------------------- WACHOVIA CAPITAL MARKETS, LLC BARCLAYS CAPITAL INC. Charles Culbreth Haejin Baek (704) 383-7716 (Phone) (212) 412-1863 (Phone) (704) 715-0066 (Fax) (212) 412-7489 (Fax) Bill White Craig Leonard (704) 715-8440 (Phone) (212) 412-2663 (Phone) (704) 715-1214 (Fax) (212) 412-7305 (Fax) Chris Campbell Brian Dixon (704) 715-8440 (Phone) (212) 412-2663 (Phone) (704) 715-1214 (Fax) (212) 412-7305 (Fax) Gino Ammirati (212) 412-1142 (Phone) (212) 412-8318 (Fax) This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 7 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- STRUCTURE OVERVIEW - -------------------------------------------------------------------------------- OFFERED CERTIFICATES EXPECTED RATINGS(1) APPROX. ASSUMED -------------- CERTIFICATE % OF APPROX. WEIGHTED FINAL BALANCE CUT-OFF DATE CREDIT AVERAGE PRINCIPAL DISTRIBUTION CLASS MOODY'S S&P OR NOTIONAL AMOUNT(2) POOL BALANCE SUPPORT LIFE(YRS)(3) WINDOW(3) DATE(3) RATE TYPE - ------------------------------------------------------------------------------------------------------------------------------------ A-1 Aaa AAA $ 14,392,000 0.400% 30.000% 2.82 09/07 - 03/12 03/15/12 Fixed A-2(4) Aaa AAA $ 392,072,000 10.884% 30.000% 4.81 03/12 - 07/12 07/15/12 Fixed(10) A-3 Aaa AAA $ 327,795,000 9.100% 30.000% 6.87 05/14 - 07/14 07/15/14 WAC(5) A-PB Aaa AAA $ 67,641,000 1.878% 30.000% 7.12 07/12 - 02/17 02/15/17 WAC(5) A-4 Aaa AAA $ 998,844,000 27.729% 30.000% 9.63 02/17 - 07/17 07/15/17 WAC(5) A-5(4) Aaa AAA $ 156,000,000 4.331% 30.000% 9.90 07/17 - 07/17 07/15/17 WAC(5) A-1A Aaa AAA $ 564,743,000 15.678% 30.000% 7.25 09/07 - 07/17 07/15/17 WAC(5) IO(6)(7) Aaa AAA $3,602,123,586 NA NA NA NA NA Variable A-M(4) Aaa AAA $ 360,212,000 10.000% 20.000% 9.90 07/17 - 07/17 07/15/17 WAC(5) A-J Aaa AAA $ 247,646,000 6.875% 13.125% 9.90 07/17 - 07/17 07/15/17 WAC(5) B Aa1 AA+ $ 36,022,000 1.000% 12.125% 9.90 07/17 - 07/17 07/15/17 WAC(5) C Aa2 AA $ 40,523,000 1.125% 11.000% 9.90 07/17 - 07/17 07/15/17 WAC(5) D Aa3 AA- $ 36,022,000 1.000% 10.000% 9.90 07/17 - 07/17 07/15/17 WAC(5) E A1 A+ $ 31,518,000 0.875% 9.125% 9.90 07/17 - 07/17 07/15/17 WAC(5) F A2 A $ 27,016,000 0.750% 8.375% 9.90 07/17 - 07/17 07/15/17 WAC(5) - ------------------------------------------------------------------------------------------------------------------------------------ NON-OFFERED CERTIFICATES EXPECTED RATINGS(1) CERTIFICATE APPROX. ASSUMED -------------- BALANCE OR % OF APPROX. WEIGHTED FINAL NOTIONAL CUT-OFF DATE CREDIT AVERAGE PRINCIPAL DISTRIBUTION CLASS MOODY'S S&P AMOUNT(2) POOL BALANCE SUPPORT LIFE(YRS)(3) WINDOW(3) DATE(3) RATE TYPE - ------------------------------------------------------------------------------------------------------------------------------------ A-2FL(4)(8) Aaa AAA TBD TBD 30.000% (9) (9) (9) Floating A-5FL(4)(8) Aaa AAA TBD TBD 30.000% (9) (9) (9) Floating A-MFL(4)(8) Aaa AAA TBD TBD 20.000% (9) (9) (9) Floating G A3 A- $36,021,000 1.000% 7.375% (9) (9) (9) WAC(5) H Baa1 BBB+ $40,524,000 1.125% 6.250% (9) (9) (9) WAC(5) J Baa2 BBB $49,530,000 1.375% 4.875% (9) (9) (9) WAC(5) K Baa3 BBB- $36,021,000 1.000% 3.875% (9) (9) (9) WAC(5) L Ba1 BB+ $27,016,000 0.750% 3.125% (9) (9) (9) Fixed M Ba2 BB $13,508,000 0.375% 2.750% (9) (9) (9) Fixed N Ba3 BB- $ 9,005,000 0.250% 2.500% (9) (9) (9) Fixed O B1 BB+ $13,508,000 0.375% 2.125% (9) (9) (9) Fixed(10) P B2 B $ 9,005,000 0.250% 1.875% (9) (9) (9) Fixed(10) Q B3 B- $ 9,006,000 0.250% 1.625% (9) (9) (9) Fixed(10) S NR NR $58,533,586 1.625% 0.000% (9) (9) (9) Fixed(10) - ------------------------------------------------------------------------------------------------------------------------------------ (1) By each of Moody's Investors Service, Inc. and Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. See "RATINGS" in the Prospectus Supplement. (2) Subject to a permitted variance of plus or minus 5.0%. (3) Based on no prepayments and the other assumptions set forth under "YIELD AND MATURITY CONSIDERATIONS--Weighted Average Life" in the Prospectus Supplement. (4) The principal allocation between each of the Class A-2 and Class A-2FL Certificates, Class A-5 and Class A-5FL Certificates and Class A-M and Class A-MFL Certificates, respectively, will be determined by market demand up to the amount indicated on the respective fixed rate class. (5) The pass-through rate applicable to each of the Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J and Class K Certificates for any distribution date will be equal to the applicable weighted average net mortgage rate (calculated as described in the Prospectus Supplement) for the related date. (6) Any information we provide regarding the terms of these Certificates is provided only to enhance your understanding of the Offered Certificates. The Class IO Certificates will not have a 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 IO Certificates. The interest rate applicable to the Class IO Certificates for each distribution date will generally be as described in the Prospectus Supplement. See "DESCRIPTION OF THE CERTIFICATES--Pass-Through Rates" in the Prospectus Supplement. (7) The Class IO Certificates will not have a certificate balance and their holders will not receive distributions of principal, but such holders are entitled to receive payments of the aggregate interest accrued on the notional amount of the Class IO Certificates, as described in the Prospectus Supplement. The interest rate applicable to the Class IO Certificates, for each distribution date will be as described in The Prospectus Supplement. See "DESCRIPTION OF THE CERTIFICATES--Pass-Through Rates" in the Prospectus Supplement. (8) The certificate balance of the Class A-2FL, Class A-5FL and Class A-MFL Certificates will be equal to the certificate balance of the Class A-2FL Regular Interest, Class A-5FL Regular Interest and Class A-MFL Regular Interest, respectively. (9) Not offered publicly. Any information we provide herein regarding the terms of these Certificates is provided only to enhance your understanding of the Offered Certificates. (10) The pass-through rate applicable to each of the Class A-2, Class O, Class P, Class Q and Class S Certificates for any distribution date will be subject to a maximum rate equal to the applicable weighted average net mortgage rate (calculated as described in the Prospectus Supplement) for the related date. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 8 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- STRUCTURE OVERVIEW - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------ LOAN GROUP 1 SHORT-TERM COLLATERAL SUMMARY - ------------------------------------------------------------------------------------------------------------ CUT-OFF DATE BALLOON PROPERTY CLASS PROPERTY NAME BALANCE BALANCE* TYPE - ------------------------------------------------------------------------------------------------------------ CLASS A-1 CLASS A-1 TOTAL BALLOON PAYMENT $ 0 CLASS A-1 AMORTIZATION 14,392,000 ------------ TOTAL CLASS A-1 CERTIFICATE BALANCE $ 14,392,000 ============ CLASS A-2 Loudon Gateway IV $ 17,300,000 $ 17,300,000 Office Rampart Business Plaza and Storage Center $ 2,760,000 2,760,000 Mixed Use ING Hospitality Pool $283,850,000 283,850,000 Hospitality The Lion Building $ 33,600,000 33,600,000 Office Marguerite Plaza $ 9,400,000 9,400,000 Retail Westward Shores $ 6,989,351 6,616,439 Mobile Home Park Extra Space Storage Pico Rivera II $ 4,000,000 4,000,000 Self Storage Cameron Court Plaza $ 15,800,000 15,454,957 Office 246 Fifth Avenue $ 14,500,000 14,500,000 Office Fulton At Boundary Shopping Center $ 1,250,000 1,250,000 Retail ------------ CLASS A-2 TOTAL BALLOON PAYMENT $388,731,395 CLASS A-2 AMORTIZATION 3,340,605 ------------ TOTAL CLASS A-2 CERTIFICATE BALANCE $392,072,000 ============ CLASS A-3 Exchange Building $ 62,500,000 $ 62,500,000 Office Sawgrass Mills $265,294,118 265,294,118 Retail ------------ CLASS A-3 TOTAL BALLOON PAYMENT $327,794,118 CLASS A-3 AMORTIZATION 882 ------------ TOTAL CLASS A-3 CERTIFICATE BALANCE $327,795,000 ============ CLASS A-PB Strategic Resource Company Headquarters Building $ 6,050,000 $ 5,752,558 Office CLASS A-PB TOTAL BALLOON PAYMENT $ 5,752,558 CLASS A-PB AMORTIZATION 61,888,442 ------------ TOTAL CLASS A-PB CERTIFICATE BALANCE $ 67,641,000 ============ - ------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------ WEIGHTED WEIGHTED WEIGHTED AVERAGE AVERAGE AVERAGE WEIGHTED REMAINING REMAINING CUT-OFF DATE AVERAGE CLASS PROPERTY NAME TERM IO TERM LTV DSC RATIO - ------------------------------------------------------------------------------------------------------------ CLASS A-1 CLASS A-1 TOTAL BALLOON PAYMENT CLASS A-1 AMORTIZATION TOTAL CLASS A-1 CERTIFICATE BALANCE CLASS A-2 Loudon Gateway IV 55 55 73.0% 1.32x Rampart Business Plaza and Storage Center 56 56 58.1% 1.79x ING Hospitality Pool 58 58 63.8% 2.14x The Lion Building 58 58 54.2% 1.31x Marguerite Plaza 58 58 73.4% 1.28x Westward Shores 58 0 54.4% 1.27x Extra Space Storage Pico Rivera II 58 58 72.2% 1.38x Cameron Court Plaza 59 35 69.9% 1.13x 246 Fifth Avenue 59 59 72.5% 1.06x Fulton At Boundary Shopping Center 59 59 40.2% 2.14x CLASS A-2 TOTAL BALLOON PAYMENT 58 56 64.0% 1.90X CLASS A-2 AMORTIZATION TOTAL CLASS A-2 CERTIFICATE BALANCE CLASS A-3 Exchange Building 81 81 77.5% 1.32x Sawgrass Mills 83 83 80.0% 1.20x CLASS A-3 TOTAL BALLOON PAYMENT 83 83 79.5% 1.22X CLASS A-3 AMORTIZATION TOTAL CLASS A-3 CERTIFICATE BALANCE CLASS A-PB Strategic Resource Company 63 11 75.6% 1.18x Headquarters Building CLASS A-PB TOTAL BALLOON PAYMENT CLASS A-PB AMORTIZATION TOTAL CLASS A-PB CERTIFICATE BALANCE - ------------------------------------------------------------------------------------------------------------ * The information presented above is intended to depict the assumed effect of the repayment of certain Mortgage Loans on certain classes of the Certificates. As of the Cut-Off Date, the balloon balances, total balloon payments and remaining class amortization were calculated assuming no prepayments will be made on the Mortgage Loans prior to their related maturity dates and the other assumptions set forth under "YIELD AND MATURITY CONSIDERATIONS--Yield Considerations" in the Prospectus Supplement. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 9 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 10 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE - -------------------------------------------------------------------------------- ALL GENERAL CHARACTERISTICS MORTGAGE LOANS LOAN GROUP 1 LOAN GROUP 2 - ------------------------------------------------------------------------------------------------------------------------------------ Number of Mortgage Loans .................................................. 166 130 36 Number of Crossed Loan Pools .............................................. 6 4 2 Number of Mortgaged Properties ............................................ 330 250 80 Aggregate Balance of all Mortgage Loans ................................... $3,602,123,586 $3,037,379,648 $ 564,743,938 Number of Mortgage Loans with Balloon Payments(1) ......................... 90 69 21 Aggregate Balance of Mortgage Loans with Balloon Payments(1) .............. $1,176,749,904 $1,044,331,565 $ 132,418,338 Number of Mortgage Loans with Anticipated Repayment Date .................. 1 1 0 Aggregate Balance of Mortgage Loans with Anticipated Repayment Date ....... $ 1,670,965 $ 1,670,965 $ 0 Number of Interest Only Mortgage Loans(2) ................................. 75 60 15 Aggregate Balance of Interest Only Mortgage Loans(2) ...................... $2,423,702,718 $1,991,377,118 $ 432,325,600 Average Balance of Mortgage Loans ......................................... $ 21,699,540 $ 23,364,459 $ 15,687,332 Minimum Balance of Mortgage Loans ......................................... $ 800,000 $ 800,000 $ 1,270,000 Maximum Balance of Mortgage Loans ......................................... $ 285,500,000 $ 285,500,000 $ 133,000,000 Maximum Balance for a group of cross-collateralized and cross-defaulted Mortgage Loans .......................................................... $ 64,800,000(3) $ 64,800,000(3) $ 28,827,000(4) Weighted Average LTV Ratio(5)(6) .......................................... 71.4% 70.9% 73.9% Minimum LTV Ratio(5)(6) ................................................... 31.7% 31.7% 50.7% Maximum LTV Ratio(5)(6) ................................................... 81.9% 81.9% 80.0% Weighted Average LTV at maturity or Anticipated Repayment Date(5)(6) ...... 69.4% 68.8% 72.4% Weighted Average DSCR(6) .................................................. 1.41x 1.43x 1.30x Minimum DSCR(6) ........................................................... 1.06x 1.06x 1.10x Maximum DSCR(6) ........................................................... 3.58x 3.58x 1.90x Weighted Average Mortgage Loan Interest Rate(7) ........................... 5.929% 5.952% 5.803% Minimum Mortgage Loan Interest Rate ....................................... 5.100% 5.100% 5.530% Maximum Mortgage Loan Interest Rate ....................................... 6.880% 6.880% 6.530% Weighted Average Remaining Term to Maturity or Anticipated Repayment Date(months) ............................................................ 103 106 88 Minimum Remaining Term to Maturity or Anticipated Repayment Date(months) .. 55 55 57 Maximum Remaining Term to Maturity or Anticipated Repayment Date(months) .. 120 120 120 Weighted Average Occupancy Rate(8) ........................................ 96.4% 96.7% 95.2% - ------------------------------------------------------------------------------------------------------------------------------------ (1) Does not include Mortgage Loans with anticipated repayment dates or Mortgage Loans that are interest-only for their entire term. (2) Includes Mortgage Loans with anticipated repayment dates that are interest-only for the entire period until the anticipated repayment date. (3) Consists of a group of 5 individual Mortgage Loans (loan numbers 31, 34, 54, 77 and 121). (4) Consists of a group of 2 individual Mortgage Loans (loan numbers 49 and 50). (5) For a description of how the LTV Ratios for the Mortgage Loans are determined, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--The Mortgage Loans--Risks Related to Property Inspections and Certain Assumptions in Appraisals" in the Prospectus Supplement. (6) Certain of the Mortgage Loans have LTV Ratios that have been calculated on an "as-stabilized" basis, or have LTV Ratios or DSC Ratios that have been adjusted to take into account certain cash reserves, holdbacks or letters of credit or were calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. (7) The interest rate with respect to 1 Mortgage Loan (loan number 38), representing 0.5% of the Cut-Off Date Pool Balance (0.6% of the Cut-Off Date Group 1 Balance) may vary during the term of the related Mortgage Loan. For purposes of the table above as well as calculations throughout the Prospectus Supplement, the mortgage rate was assumed to be the average mortgage rate during the period in which amortization is due on the related Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" in the Prospectus Supplement. (8) Occupancy Rates exclude 63 hospitality properties, representing 17.6% of the Cut-Off Date Pool Balance (20.9% of the Cut-Off Date Group 1 Balance). In certain cases, occupancy includes space for which leases have been executed, but the tenant is not in occupancy. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 11 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE - -------------------------------------------------------------------------------- [PIE CHART] PROPERTY TYPE* % OF % OF % OF NUMBER OF AGGREGATE INITIAL GROUP 1 GROUP 2 MORTGAGED CUT-OFF DATE POOL POOL POOL PROPERTY TYPE PROPERTIES BALANCE(1) BALANCE BALANCE BALANCE - ------------------------------------------------------------------------------------ Retail 55 $1,059,071,036 29.4% 34.9% 0.0% Anchored 19 894,487,118 24.8 29.4 0.0 Single Tenant 24 110,092,219 3.1 3.6 0.0 Unanchored 11 51,103,699 1.4 1.7 0.0 Shadow Anchored(4) 1 3,388,000 0.1 0.1 0.0 Office 31 887,303,083 24.6 29.2 0.0 Hospitality 63 633,501,607 17.6 20.9 0.0 Multifamily 72 509,491,769 14.1 0.0 90.1 Industrial 79 311,518,971 8.6 10.3 0.0 Mixed Use 10 95,942,500 2.7 3.2 0.0 Mobile Home Park 10 63,041,520 1.8 0.2 9.9 Self Storage 9 31,450,000 0.9 1.0 0.0 Land(5) 1 10,803,100 0.3 0.4 0.0 - ------------------------------------------------------------------------------------ 330 $3,602,123,586 100.0% 100.0% 100.0% - ------------------------------------------------------------------------------------ WEIGHTED WEIGHTED WEIGHTED MIN / MAX AVERAGE MIN / MAX AVERAGE AVERAGE DSC RATIO CUT-OFF DATE CUT-OFF DATE MORTGAGE PROPERTY TYPE DSC RATIO(2) WEIGHTED(2) LTV RATIO(2) LTV RATIO(2) RATE(3) - ---------------------------------------------------------------------------------------------- Retail 1.27x 1.11x / 2.14x 76.6% 40.2% / 81.9% 5.879% Anchored 1.25x 1.15x / 1.88x 77.7% 64.5% / 80.0% 5.857% Single Tenant 1.39x 1.11x / 2.03x 72.6% 49.6% / 81.9% 5.959% Unanchored 1.45x 1.15x / 2.14x 66.2% 40.2% / 78.2% 6.051% Shadow Anchored(4) 1.24x 1.24x / 1.24x 78.8% 78.8% / 78.8% 6.420% Office 1.42x 1.06x / 2.25x 64.3% 39.2% / 80.6% 6.070% Hospitality 1.76x 1.15x / 2.27x 70.6% 49.6% / 78.5% 5.892% Multifamily 1.29x 1.10x / 1.58x 74.5% 54.5% / 80.0% 5.799% Industrial 1.37x 1.15x / 1.57x 70.8% 62.9% / 80.0% 5.923% Mixed Use 1.55x 1.26x / 3.58x 70.2% 31.7% / 80.0% 5.880% Mobile Home Park 1.36x 1.24x / 1.90x 67.4% 50.7% / 79.7% 5.942% Self Storage 1.23x 1.18x / 1.38x 75.8% 71.2% / 77.3% 6.470% Land(5) 1.20x 1.20x / 1.20x 73.5% 73.5% / 73.5% 6.490% - ---------------------------------------------------------------------------------------------- 1.41X 1.06X / 3.58X 71.4% 31.7% / 81.9% 5.929% - ---------------------------------------------------------------------------------------------- (1) Because this table presents information relating to the Mortgaged Properties and not the Mortgage Loans, the information for Mortgage Loans secured by more than one Mortgaged Property is based on allocated amounts (allocating the Mortgage Loan principal balance to each of those properties by the appraised values of the Mortgaged Properties or the allocated loan amount (or specific release prices) as described in the related Mortgage Loan documents). (2) Certain of the Mortgage Loans reflect LTV Ratios that have been calculated on an "as-stabilized" basis, or that have LTV Ratios or DSC Ratios that have been adjusted to take into account certain cash reserves, holdbacks or letters of credit or were calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. (3) The interest rate with respect to 1 Mortgage Loan (loan number 38), representing 0.5% of the Cut-Off Date Pool Balance (0.6% of the Cut-Off Date Group 1 Balance) may vary during the term of the related Mortgage Loan. For purposes of the table above as well as calculations throughout the Prospectus Supplement, the mortgage rate was assumed to be the average over the term of the related Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" in the Prospectus Supplement. (4) A Mortgaged Property is classified as shadow anchored if it is located in close proximity to an anchored retail property. (5) As of origination of the related Mortgage Loan, the Mortgaged Property was improved with a retail building. The improvements are not part of the collateral. * With respect to each Mortgage Loan, unless otherwise specified, the calculation of DSC and LTV Ratios are based on the aggregate indebtedness of or debt service on, as applicable, the Mortgage Loan and the related pari passu companion loan(s), but not any related subordinate companion loan or future pari passu companion loan. The sum of aggregate percentage calculations may not equal 100% due to rounding. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 12 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE - -------------------------------------------------------------------------------- [MAP OF U.S] PROPERTY LOCATION* % OF % OF WEIGHTED WEIGHTED NUMBER OF AGGREGATE % OF INITIAL INITIAL WEIGHTED AVERAGE AVERAGE MORTGAGED CUT-OFF DATE INITIAL GROUP 1 GROUP 2 AVERAGE CUT-OFF DATE MORTGAGE STATE PROPERTIES BALANCE(1) POOL BALANCE BALANCE BALANCE DSC RATIO(2) LTV RATIO(2) RATE(3) - ------------------------------------------------------------------------------------------------------------------------- NY 55 $ 777,200,000 21.6% 17.9% 41.2% 1.40x 66.5% 6.089% FL 19 421,979,304 11.7 12.8 5.9 1.28x 77.7% 5.828% CA 34 317,587,184 8.8 9.7 4.0 1.65x 63.7% 5.937% Southern(4) 29 284,146,906 7.9 8.9 2.6 1.64x 63.0% 5.960% Northern(4) 5 33,440,278 0.9 0.8 1.4 1.73x 69.7% 5.749% TX 40 303,254,760 8.4 7.7 12.3 1.45x 71.4% 5.952% WA 5 231,454,500 6.4 7.5 0.6 1.45x 76.9% 5.858% MO 5 214,527,000 6.0 7.0 0.2 1.28x 78.8% 5.929% VA 8 202,107,071 5.6 6.7 0.0 1.27x 76.8% 5.809% GA 20 183,450,275 5.1 4.8 6.9 1.43x 69.9% 5.865% Other 144 950,563,492 26.4 25.9 28.9 1.44x 71.2% 5.887% - ------------------------------------------------------------------------------------------------------------------------- 330 $3,602,123,586 100.0% 100.0% 100.0% 1.41X 71.4% 5.929% - ------------------------------------------------------------------------------------------------------------------------- o THE MORTGAGED PROPERTIES ARE LOCATED IN 39 STATES AND THE DISTRICT OF COLUMBIA. (1) Because this table presents information relating to the Mortgaged Properties and not the Mortgage Loans, the information for Mortgage Loans secured by more than one Mortgaged Property is based on allocated amounts (allocating the Mortgage Loan principal balance to each of those Mortgaged Properties by the appraised values of the Mortgaged Properties or the allocated loan amount (or specific release prices) as described in the related Mortgage Loan documents). (2) Certain of the Mortgage Loans reflect LTV Ratios that have been calculated on an "as-stabilized" basis, or that have LTV Ratios or DSC Ratios that have been adjusted to take into account certain cash reserves, holdbacks or letters of credit or were calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. (3) The interest rate with respect to 1 Mortgage Loan (loan number 38), representing 0.5% of the Cut-Off Date Pool Balance (0.6% of the Cut-Off Date Group 1 Balance), may vary during the term of the related Mortgage Loan. For purposes of the table above as well as calculations throughout the prospectus supplement, the mortgage rate was assumed to be the average over the term of the related Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" in the Prospectus Supplement. (4) For purposes of determining whether a Mortgaged Property is in Northern California or Southern California, Mortgaged Properties north of San Luis Obispo County, Kern County and San Bernardino County were included in Northern California and Mortgaged Properties south of or included in such counties were included in Southern California. * With respect to each Mortgage Loan, unless otherwise specified, the calculation of DSC and LTV Ratios are based on the aggregate indebtedness of or debt service on, as applicable, the Mortgage Loan and the related pari passu companion loan(s), but not any related subordinate companion loan or future pari passu companion loan. The sum of aggregate percentage calculations may not equal 100% due to rounding. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 13 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- CUT-OFF DATE BALANCE - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF RANGE OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 CUT-OFF DATE BALANCES LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- $800,000 - $2,000,000 ........... 11 $ 16,588,265 0.5% 0.3% 1.4% $2,000,001 - $3,000,000 ......... 17 41,639,018 1.2 1.1 1.2 $3,000,001 - $4,000,000 ......... 23 80,777,184 2.2 2.2 2.5 $4,000,001 - $5,000,000 ......... 11 48,864,166 1.4 1.3 1.5 $5,000,001 - $6,000,000 ......... 7 38,767,164 1.1 1.1 0.9 $6,000,001 - $7,000,000 ......... 12 79,556,952 2.2 1.8 4.7 $7,000,001 - $8,000,000 ......... 6 46,339,769 1.3 1.0 2.8 $8,000,001 - $9,000,000 ......... 2 17,100,000 0.5 0.3 1.5 $9,000,001 - $10,000,000 ........ 5 47,725,000 1.3 1.6 0.0 $10,000,001 - $15,000,000 ....... 25 310,276,480 8.6 8.8 7.5 $15,000,001 - $20,000,000 ....... 16 274,727,500 7.6 6.9 11.7 $20,000,001 - $25,000,000 ....... 6 129,800,000 3.6 2.8 7.9 $25,000,001 - $30,000,000 ....... 4 112,713,000 3.1 1.8 10.1 $30,000,001 - $35,000,000 ....... 4 129,116,000 3.6 4.3 0.0 $35,000,001 - $40,000,000 ....... 2 79,500,000 2.2 2.6 0.0 $40,000,001 - $45,000,000 ....... 1 45,000,000 1.2 0.0 8.0 $50,000,001 - $55,000,000 ....... 1 55,000,000 1.5 1.8 0.0 $55,000,001 - $60,000,000 ....... 1 55,500,000 1.5 1.8 0.0 $60,000,001 - $65,000,000 ....... 1 62,500,000 1.7 2.1 0.0 $75,000,001 - $80,000,000 ....... 1 75,008,971 2.1 2.5 0.0 $80,000,001 - $90,000,000 ....... 3 263,000,000 7.3 5.9 14.9 $100,000,001 - $150,000,000 ..... 1 133,000,000 3.7 0.0 23.6 $150,000,001 - $200,000,000 ..... 2 364,000,000 10.1 12.0 0.0 $200,000,001 - $285,500,000 ..... 4 1,095,624,118 30.4 36.1 0.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: $800,000 MAX $285,500,000 AVERAGE: $21,699,540 - -------------------------------------------------------------------------------------------------- UNDERWRITTEN DEBT SERVICE COVERAGE RATIO(2) - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF RANGE OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 UNDERWRITTEN DSCRS LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 1.06x - 1.09x ................... 1 $ 14,500,000 0.4% 0.5% 0.0% 1.10x - 1.14x ................... 7 88,508,000 2.5 2.2 3.7 1.15x - 1.19x ................... 18 312,742,985 8.7 10.0 1.8 1.20x - 1.24x ................... 35 892,077,232 24.8 23.9 29.2 1.25x - 1.29x ................... 18 353,674,096 9.8 6.8 26.0 1.30x - 1.34x ................... 18 239,388,339 6.6 4.9 16.0 1.35x - 1.39x ................... 10 155,852,985 4.3 2.4 14.9 1.40x - 1.44x ................... 11 363,803,264 10.1 11.8 0.8 1.45x - 1.49x ................... 10 434,536,874 12.1 14.0 1.9 1.50x - 1.54x ................... 7 104,377,500 2.9 3.4 0.0 1.55x - 1.59x ................... 10 172,060,937 4.8 4.9 4.0 1.60x - 1.64x ................... 3 15,996,606 0.4 0.5 0.0 1.65x - 1.69x ................... 2 21,930,000 0.6 0.7 0.0 1.75x - 1.79x ................... 1 2,760,000 0.1 0.1 0.0 1.80x - 1.84x ................... 3 10,024,000 0.3 0.3 0.4 1.85x - 1.89x ................... 3 77,013,000 2.1 2.5 0.0 1.90x - 1.94x ................... 1 7,989,769 0.2 0.0 1.4 2.00x - 2.04x ................... 2 3,538,000 0.1 0.1 0.0 2.05x - 2.09x ................... 1 6,500,000 0.2 0.2 0.0 2.10x - 2.14x ................... 2 285,100,000 7.9 9.4 0.0 2.25x - 2.29x ................... 2 36,900,000 1.0 1.2 0.0 2.30x - 3.58x ................... 1 2,850,000 0.1 0.1 0.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 1.06X MAX: 3.58X WTD.AVERAGE:1.41X - -------------------------------------------------------------------------------------------------- MORTGAGE RATE(1) - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF RANGE OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 MORTGAGE RATES(%) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 5.100 - 5.250 ................... 1 $ 29,413,000 0.8% 1.0% 0.0% 5.501 - 5.750 ................... 38 1,003,008,164 27.8 24.5 45.8 5.751 - 6.000 ................... 53 1,620,959,066 45.0 44.7 46.6 6.001 - 6.250 ................... 24 278,762,964 7.7 8.9 1.7 6.251 - 6.500 ................... 32 557,726,040 15.5 17.3 5.7 6.501 - 6.750 ................... 16 101,743,762 2.8 3.3 0.2 6.751 - 6.880 ................... 2 10,510,590 0.3 0.3 0.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 5.100% MAX: 6.880% WTD.AVERAGE: 5.929% - -------------------------------------------------------------------------------------------------- CUT-OFF DATE LOAN-TO-VALUE RATIO(2) - -------------------------------------------------------------------------------------------------- % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF CUT-OFF DATE LTV MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 RATIOS (%) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 31.67 - 40.00 ................... 2 $ 35,750,000 1.0% 1.2% 0.0% 40.01 - 50.00 ................... 8 77,310,985 2.1 2.5 0.0 50.01 - 55.00 ................... 6 108,849,120 3.0 3.3 1.6 55.01 - 60.00 ................... 5 26,640,000 0.7 0.9 0.0 60.01 - 65.00 ................... 18 814,628,380 22.6 24.5 12.4 65.01 - 70.00 ................... 23 269,749,077 7.5 7.7 6.5 70.01 - 75.00 ................... 48 606,717,156 16.8 14.5 29.7 75.01 - 80.00 ................... 54 1,562,278,868 43.4 42.2 49.8 80.01 - 81.93 ................... 2 100,200,000 2.8 3.3 0.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 31.7% MAX 81.9% WTD.AVERAGE: 71.4% - -------------------------------------------------------------------------------------------------- MATURITY DATE OR ARD LOAN-TO-VALUE RATIO(2) - -------------------------------------------------------------------------------------------------- % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF MATURITY DATE OR ARD MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 LTV RATIOS (%) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 22.22 - 30.00 ................... 1 $ 2,250,000 0.1% 0.1% 0.0% 30.01 - 40.00 ................... 5 47,662,754 1.3 1.3 1.4 40.01 - 50.00 ................... 10 96,598,000 2.7 3.2 0.0 50.01 - 55.00 ................... 9 123,816,862 3.4 4.0 0.2 55.01 - 60.00 ................... 13 122,348,080 3.4 3.9 0.7 60.01 - 65.00 ................... 22 864,575,323 24.0 26.0 13.5 65.01 - 70.00 ................... 39 417,194,932 11.6 10.4 17.7 70.01 - 75.00 ................... 45 801,551,119 22.3 21.1 28.3 75.01 - 80.00 ................... 20 1,025,926,518 28.5 26.7 38.3 80.01 - 81.93 ................... 2 100,200,000 2.8 3.3 0.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 22.2% MAX 81.9% WTD.AVERAGE: 69.4% - -------------------------------------------------------------------------------------------------- (1) The interest rate with respect to 1 Mortgage Loan (loan number 38), representing 0.5% of the Cut-Off Date Pool Balance (0.6% of the Cut-Off Date Group 1 Balance), may vary during the term of the related Mortgage Loan. For purposes of the table above as well as calculations throughout the Prospectus Supplement, the mortgage rate was assumed to be the average over the term of the related Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" in the Prospectus Supplement. (2) Certain of the Mortgage Loans reflect LTV Ratios that have been calculated on an "as-stabilized" basis, or that have LTV Ratios or DSC Ratios that have been adjusted to take into account certain cash reserves, holdbacks or letters of credit or were calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. * The sum of aggregate percentage calculations may not equal 100% due to rounding. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 14 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- ORIGINAL TERM TO MATURITY - -------------------------------------------------------------------------------------------------- % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF ORIGINAL TERM TO MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 MATURITY (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 60 - 60 ......................... 18 $ 670,022,451 18.6% 12.8% 49.7% 61 - 84 ......................... 3 333,844,118 9.3 11.0 0.0 109 - 120 ....................... 145 2,598,257,017 72.1 76.2 50.3 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 60 MAX: 120 WTD.AVERAGE: 105 - -------------------------------------------------------------------------------------------------- ORIGINAL AMORTIZATION TERM - -------------------------------------------------------------------------------------------------- % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF ORIGINAL AMORTIZATION MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 TERMS (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 168 - 228 ....................... 1 $ 2,250,000 0.1% 0.1% 0.0% 300 - 348 ....................... 9 40,298,688 1.1 1.1 1.4 349 - 360 ....................... 76 1,082,093,479 30.0 32.2 18.5 361 - 420 ....................... 5 53,778,702 1.5 1.1 3.6 Non-Amortizing .................. 75 2,423,702,718 67.3 65.6 76.6 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN(1): 168 MAX: 420 WTD.AVERAGE(1): 360 - -------------------------------------------------------------------------------------------------- (1) Excludes the non-amortizing loans. ORIGINAL INTEREST-ONLY TERM - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 TYPE OF IO PERIOD LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- Non-Amortizing .................. 75 $2,423,702,718 67.3% 65.6% 76.6% Partial Interest Only Amortizing .................... 64 1,056,363,517 29.3 31.4 18.4 1 - 12 .......................... 8 44,694,246 1.2 1.5 0.0 13 - 24 ......................... 13 131,498,271 3.7 4.0 1.6 25 - 36 ......................... 13 98,542,000 2.7 3.1 0.6 37 - 48 ......................... 8 90,870,000 2.5 2.4 3.1 49 - 60 ......................... 19 651,509,000 18.1 19.0 13.1 61 - 72 ......................... 1 3,750,000 0.1 0.1 0.0 73 - 84 ......................... 1 18,000,000 0.5 0.6 0.0 85 - 96 ......................... 1 17,500,000 0.5 0.6 0.0 Amortizing - No Partial Interest Only Period .......... 27 122,057,352 3.4 3.1 5.0 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 12 MAX(2): 96 WTD.AVERAGE(2): 51 - -------------------------------------------------------------------------------------------------- (2) Partial Interest Only Period excludes non-amortizing loans that do not benefit from a Partial Interest Only Period. SEASONING - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 SEASONING (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 0 - 12 .......................... 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 0 MAX: 6 WTD.AVERAGE: 2 - -------------------------------------------------------------------------------------------------- * The sum of aggregate percentage calculations may not equal 100% due to rounding. REMAINING TERM TO MATURITY - -------------------------------------------------------------------------------------------------- % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF REMAINING TERMS TO MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 MATURITY OR ARD (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 55 - 60 ......................... 18 $ 670,022,451 18.6% 12.8% 49.7% 61 - 84 ......................... 3 333,844,118 9.3 11.0 0.0 109 - 120 ....................... 145 2,598,257,017 72.1 76.2 50.3 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN: 55 MAX: 120 WTD.AVERAGE: 103 - -------------------------------------------------------------------------------------------------- REMAINING STATED AMORTIZATION TERM - -------------------------------------------------------------------------------------------------- % OF RANGE OF REMAINING NUMBER OF AGGREGATE INITIAL % OF % OF STATED AMORTIZATION MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 TERMS (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- 168 - 228 ....................... 1 $ 2,250,000 0.1% 0.1% 0.0% 265 - 299 ....................... 4 22,098,688 0.6 0.5 1.4 300 - 348 ....................... 5 18,200,000 0.5 0.6 0.0 349 - 360 ....................... 76 1,082,093,479 30.0 32.2 18.5 361 - 420 ....................... 5 53,778,702 1.5 1.1 3.6 Non-Amortizing .................. 75 2,423,702,718 67.3 65.6 76.6 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- MIN(1): 168 MAX: 420 WTD.AVERAGE(1): 360 - -------------------------------------------------------------------------------------------------- (1) Excludes the non-amortizing loans. PREPAYMENT PROVISION SUMMARY - -------------------------------------------------------------------------------------------------- % OF NUMBER OF AGGREGATE INITIAL % OF % OF MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 PREPAYMENT PROVISION LOANS BALANCE BALANCE BALANCE BALANCE - -------------------------------------------------------------------------------------------------- Lockout/Defeasance/Open ......... 130 $2,764,278,384 76.7% 82.7% 44.5% Lockout/Yield Maintenance/Open .............. 24 369,775,203 10.3 4.2 42.9 Yield Maintenance/Open .......... 4 326,875,000 9.1 9.9 4.4 Lockout/Defeasance or Yield Maintenance/Open .............. 4 106,225,000 2.9 2.0 8.0 Lockout/Defeasance/ Defeasance or Yield Maintenance/Open .............. 1 17,300,000 0.5 0.6 0.0 Lockout/Defeasance/Open or Yield Maintenance/Open ........ 1 12,800,000 0.4 0.4 0.0 Lockout/Yield Maintenance/Defeasance/Open 1 3,600,000 0.1 0.1 0.0 Lockout/Open .................... 1 1,270,000 0.0 0.0 0.2 - -------------------------------------------------------------------------------------------------- 166 $3,602,123,586 100.0% 100.0% 100.0% - -------------------------------------------------------------------------------------------------- SHADOW RATED LOANS(3) - -------------------------------------------------------------------------------------- % OF INITIAL % OF % OF LOAN CUT-OFF DATE POOL GROUP 1 GROUP 2 NAME BALANCE BALANCE BALANCE BALANCE MOODY'S S&P - -------------------------------------------------------------------------------------- High Bluff Ridge at Del Mar .............. $32,900,000 0.9% 1.1% 0.0% Baa3 A Lawndale Estates ....... $ 7,989,769 0.2% 0.0% 1.4% Baa3 AAA - -------------------------------------------------------------------------------------- (3) Moody's and S&P have confirmed that the Mortgage Loans detailed in this table have, in the context of their inclusion in the mortgage pool, credit characteristics consistent with an investment grade obligation. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 15 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE - -------------------------------------------------------------------------------- TWENTY LARGEST MORTGAGE LOANS - -------------------------------------------------------------------------------- The following table and summaries describe the twenty largest Mortgage Loans or pools of Mortgage Loans in the Mortgage Pool by Cut-Off Date Balance: TWENTY LARGEST MORTGAGE LOANS BY CUT-OFF DATE BALANCE NUMBER OF MORTGAGE % OF % OF MORTGAGE LOANS / INITIAL INITIAL LOAN MORTGAGED LOAN CUT-OFF DATE POOL GROUP LOAN NAME SELLER PROPERTIES GROUP BALANCE BALANCE BALANCE - ------------------------------------- ---------- ------------ ------- -------------- --------- --------- 666 Fifth Avenue(3) ................. BCRE 1/ 1 1 $ 285,500,000 7.9% 9.4% ING Hospitality Pool ................ Wachovia 1/ 46 1 283,850,000 7.9 9.3% Sawgrass Mills ...................... Nomura 1/ 1 1 265,294,118 7.4 8.7% Ashford Hospitality Pool 6 .......... Wachovia 1/ 3 1 260,980,000 7.2 8.6% Independence Mall ................... Nomura 1/ 1 1 200,000,000 5.6 6.6% Potomac Mills ....................... Wachovia 1/ 1 1 164,000,000 4.6 5.4% Three Borough Pool .................. BCRE 1/ 42 2 133,000,000 3.7 23.6% 110 East 42nd Street ................ Wachovia 1/ 1 1 90,000,000 2.5 3.0% Central / Eastern Industrial Pool ... Wachovia 1/ 13 1 89,000,000 2.5 2.9% The Renaissance ..................... Wachovia 1/ 1 2 84,000,000 2.3 14.9% ------- -------------- ---- 10/ 110 $1,855,624,118 51.5% ======= ============== ==== 84 Lumber Industrial Pool ........... BCRE 1/ 54 1 $ 75,008,971 2.1% 2.5% Fort 1 Portfolio .................... Wachovia 5/ 5 1 64,800,000 1.8 2.1% Exchange Building ................... Nomura 1/ 1 1 62,500,000 1.7 2.1% Nordic Cold Storage Pool ............ BCRE 1/ 3 1 55,500,000 1.5 1.8% 79 Madison Avenue ................... Wachovia 1/ 1 1 55,000,000 1.5 1.8% San Palacio Apartment Homes ......... Wachovia 1/ 1 2 45,000,000 1.2 8.0% 560 Broadway ........................ Wachovia 1/ 1 1 40,000,000 1.1 1.3% Village Shoppes at Creekside ........ Wachovia 1/ 1 1 39,500,000 1.1 1.3% The Lion Building ................... Wachovia 1/ 1 1 33,600,000 0.9 1.1% High Bluff Ridge at Del Mar ......... Wachovia 1/ 1 1 32,900,000 0.9 1.1% ------- -------------- ---- 14/ 69 $ 503,808,971 14.0% ======= ============== ==== 24/ 179 $2,359,433,089 65.5% ======= ============== ==== WEIGHTED CUT-OFF DATE WEIGHTED AVERAGE WEIGHTED BALANCE WEIGHTED AVERAGE LTV RATIO AVERAGE PER SF/UNIT/ AVERAGE CUT-OFF DATE AT MATURITY MORTGAGE LOAN NAME PROPERTY TYPE ROOM(1) DSCR(1)(2) LTV RATIO(1)(2) OR ARD(1)(2) RATE - ------------------------------------- -------------------------- ------------ ---------- --------------- ------------ -------- 666 Fifth Avenue(3) ................. Office--CBD $ 836 1.46x 60.8% 60.8% 6.353% ING Hospitality Pool ................ Hospitality--Extended Stay $ 97,947 2.14x 63.8% 63.8% 5.663% Sawgrass Mills ...................... Retail--Anchored $ 412 1.20x 80.0% 80.0% 5.820% Ashford Hospitality Pool 6 .......... Hospitality--Full Service $247,374 1.43x 78.5% 73.4% 5.952% Independence Mall ................... Retail--Anchored $ 503 1.22x 80.0% 80.0% 5.943% Potomac Mills ....................... Retail--Anchored $ 274 1.17x 78.8% 78.8% 5.830% Three Borough Pool .................. Multifamily--Conventional $ 80,802 1.29x 79.0% 79.0% 5.785% 110 East 42nd Street ................ Office--CBD $ 472 1.26x 80.6% 80.6% 5.814% Central / Eastern Industrial Pool ... Industrial--Flex $ 42 1.22x 73.3% 68.3% 5.749% The Renaissance ..................... Multifamily--Conventional $380,090 1.35x 71.2% 71.2% 5.670% 1.43X 73.5% 72.5% 5.898% 84 Lumber Industrial Pool ........... Industrial--Warehouse $ 43 1.57x 68.5% 61.0% 6.172% Fort 1 Portfolio .................... Various $ 48 1.50x 75.0% 75.0% 5.550% Exchange Building ................... Office--CBD $ 203 1.32x 77.5% 77.5% 5.615% Nordic Cold Storage Pool ............ Industrial--Warehouse $ 42 1.45x 62.9% 58.8% 5.980% 79 Madison Avenue ................... Office--CBD $ 220 1.47x 54.8% 54.8% 6.250% San Palacio Apartment Homes ......... Multifamily--Conventional $127,841 1.21x 77.6% 77.6% 5.730% 560 Broadway ........................ Office--CBD $ 310 1.87x 41.8% 41.8% 5.910% Village Shoppes at Creekside ........ Retail--Anchored $ 186 1.26x 77.3% 72.0% 5.720% The Lion Building ................... Office--CBD $ 230 1.31x 54.2% 54.2% 5.794% High Bluff Ridge at Del Mar ......... Office--Suburban $ 209 2.25x 39.2% 39.2% 5.510% 1.50X 64.9% 62.9% 5.846% 1.45X 71.6% 70.5% 5.887% _______________________ (1) The 666 Fifth Avenue Loan, the ING Hospitality Pool Loan, the Sawgrass Mills Loan, the Potomac Mills Loan and the 84 Lumber Industrial Pool Loan are part of split loan structures that include one or more pari passu companion loans that are not included in the Trust Fund. The Nordic Cold Storage Pool Loan, The Renaissance Loan and the Central/Eastern Industrial Pool Loan are part of a split loan structure that includes one subordinate companion loan that is not included in the Trust Fund. With respect to each Mortgage Loan, unless otherwise specified, the calculations of LTV Ratios, DSC Ratio and Cut-Off Date Balance per square foot/room are based on the aggregate indebtedness of or debt service on, as applicable, the Mortgage Loan and the related pari passu companion loan, but not any related subordinate companion loan or future pari passu companion loan. (2) Certain of the Mortgage Loans reflect LTV Ratios that have been calculated on an "as-stabilized" basis, or have LTV Ratios or DSC Ratios that have been adjusted to take into account certain cash reserves, holdbacks or letters of credit or were calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. (3) The underwritten net cash flow used to calculate the DSC Ratio was determined based on certain assumptions, including that all leases were marked to current market rental rates. If the market rental rates are not achieved upon lease rollover, the DSC Ratio will be negatively affected. The "As-Is" DSC Ratio calculated based on the rent roll dated January 11, 2007, including rent steps through 2007, is 0.65x. See "RISK FACTORS--Risks Relating to Net Cash Flow" in the Prospectus Supplement. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 16 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- [3 PHOTOS OF 666 FIFTH AVENUE] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 17 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- [MAP OF 666 FIFTH AVENUE] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 18 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE(1) $285,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 7.9% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR George Gellert and Jared Kushner TYPE OF SECURITY Fee PARTIAL RELEASE/PARTIAL DEFEASANCE(2) Yes MORTGAGE RATE 6.353% MATURITY DATE February 5, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 114 / IO LOCKBOX Yes UP-FRONT RESERVES TAX/INSURANCE Yes ROLLOVER/INTEREST RESERVE(3) $100,000,000 ONGOING ANNUAL RESERVES TAX/INSURANCE(4) Yes / Springing ROLLOVER/INTEREST RESERVE(5) Springing REPLACEMENT RESERVE(6) $232,440 ADDITIONAL FINANCING(7) Senior Mezzanine Debt $335,000,000 Junior Mezzanine Debt $200,000,000 Pari Passu Debt $929,500,000 PARI PASSU NOTES(1) TOTAL DEBT(8) -------------- -------------- CUT-OFF DATE BALANCE $1,215,000,000 $1,750,000,000 CUT-OFF DATE BALANCE/SF $836 CUT-OFF DATE LTV 60.8% MATURITY DATE LTV 60.8% UW DSCR ON NCF(9) 1.46x - -------------------------------------------------------------------------------- (1) The total balance of the 666 Fifth Avenue loan is $1,215,000,000 as of the Cut-off Date ("Whole Loan"), and consists of eight pari passu notes: Note A-1 with a Cut-off Date Balance of $124,500,000, Note A-2 with a Cut-off Date Balance of $124,500,000, Note A-3 with a Cut-off Date Balance of $197,500,000, Note A-4 with a Cut-off Date Balance of $197,500,000, Note A-5 with a Cut-off Date Balance of $142,750,000, Note A-6 with a Cut-off Date Balance of $142,750,000, Note A-7 with a Cut-off Date Balance of $142,750,000 and Note A-8 with a Cut-off Date Balance of $142,750,000 (Note A-5 and Note A-7 are both included in the trust fund and collectively represent the 666 Fifth Avenue Loan). Note A-1, Note A-2, Note A-3, Note A-4, Note A-6 and Note A-8 are not included in the trust fund. Unless otherwise specified, all DSCR, LTV and other calculations with respect to the 666 Fifth Avenue Loan are based on the 666 Fifth Avenue Whole Loan. (2) The 666 Fifth Avenue Loan permits the partial release and/or partial defeasance of certain portions of the Mortgaged Property under certain circumstances. See "Release" below. (3) The Rollover/Interest Reserve was funded at closing of the 666 Fifth Avenue Loan to pay: (i) tenant improvements and leasing commissions at the Mortgaged Property and (ii) debt service shortfalls under the 666 Fifth Avenue Loan or the Senior Mezzanine Loan (as defined below). (4) Monthly deposits for taxes in an amount equal to 1/12th of the amount that the mortgagee estimates will be payable during the next twelve months for taxes are required to be made. For 2007, the borrower is required to make monthly deposits of $1,800,000 for taxes. In addition, monthly deposits in an amount equal to 1/12th of the annual insurance premiums estimated to be due by mortgagee are required to be made (unless an acceptable blanket or umbrella policy is in place and mortgagee has elected not to collect this reserve). (5) All lease termination payments received by the borrower prior to July 1, 2008 are required to be deposited to the Rollover/Interest Reserve as well. (6) Monthly deposits in an amount equal to 1/12th of $0.15 per square foot of net rentable square feet at the Mortgaged Property are required to be made. (7) See "The Loan" and "Mezzanine Debt" below. - -------------------------------------------------------------------------------- PROPERTY INFORMATION(10) - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION New York, NY PROPERTY TYPE Office -- CBD SIZE (SF)(11) 1,454,110 OCCUPANCY AS OF JANUARY 11, 2007 98.3% YEAR BUILT / YEAR RENOVATED 1957 / 1999 APPRAISED VALUE $2,000,000,000 PROPERTY MANAGEMENT Tishman Speyer Properties L.P. UW ECONOMIC OCCUPANCY 97.6% UW REVENUES $157,016,346 UW TOTAL EXPENSES $38,399,113 UW NET OPERATING INCOME (NOI)(9) $118,617,233 UW NET CASH FLOW (NCF)(9) $114,381,673 - -------------------------------------------------------------------------------- (8) The Fifth Avenue Retail Space (as defined below under "The Property") has been excluded from the appraised value of the Mortgaged Property, the underwritten net cash flows and SF based in part on a requirement that the Fifth Avenue Retail Space is subject to release upon payment in full of the Senior Mezzanine Loan. Accordingly, the Fifth Avenue Retail Space has not been included under the headings Total Debt Cut-Off Date Balance/SF, Cut-Off Date LTV, Maturity Date LTV and UW DSCR on NCF. (9) The UW DSCR on NCF is based on underwritten net cash flow which was derived based on certain assumptions, including that all leases were marked to current market rental rates. If the market rental rates are not achieved, upon lease rollover, the UW DSCR on NCF will be negatively affected. The "As-Is" DSCR calculated based on the rent roll dated January 11, 2007 including rent steps through 2007 is 0.65x. The UW DSCR for year 6 of the loan term is 1.39x. The UW DSCR for year 6 of the loan term reflects certain assumptions which are in-line with the appraiser's estimates and is adjusted to reflect normalized capital items. Year 6 of the loan term reflects the first full year after 64.8% of the tenant leases currently in-place have expired. See "RISK FACTORS--Risks Relating to Net Cash Flow" in the Prospectus Supplement. (10) Calculations exclude the Fifth Avenue Retail Space (as defined below under "The Property"). (11) The square footage consists of office space (1,367,545 square feet), retail/storage space (69,087 square feet) and parking (17,478 square feet). Excludes the Fifth Avenue Retail Space (as defined below under "The Property") which consists of an additional 95,513 square feet. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 19 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- TENANT SUMMARY - ----------------------------------------------------------------------------------- % OF NET RATINGS(1) NET RENTABLE RENTABLE TENANT S&P/MOODY'S/FITCH AREA (SF) AREA - ----------------------------------------------------------------------------------- MAJOR TENANTS Citibank N.A. ...................... AA/Aa1/AA+ 365,070 25.1% Orrick, Herrington & Sutcliffe ..... NR/NR/NR 239,464 16.5 Fulbright & Jaworski L.L.P. ........ NR/NR/NR 139,177 9.6 --------- ----- TOTAL MAJOR TENANTS ................ 743,711 51.1% NON-MAJOR TENANTS ................... 686,205 47.2 --------- ----- OCCUPIED TOTAL ...................... 1,429,916 98.3% VACANT SPACE ........................ 24,194 1.7 --------- ----- PROPERTY TOTAL ...................... 1,454,110 100.0% ========= ===== - ----------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------- ANNUAL % OF BASE BASE TOTAL ANNUAL LEASE TENANT RENT PSF RENT BASE RENT EXPIRATION - -------------------------------------------------------------------------------------------- MAJOR TENANTS Citibank N.A. ...................... $ 44.47 $16,234,522 23.2% August 2014(2) Orrick, Herrington & Sutcliffe ..... $ 44.79 10,725,722 15.3 March 2010 Fulbright & Jaworski L.L.P. ........ $ 51.93 7,228,117 10.3 December 2016 ----------- ----- TOTAL MAJOR TENANTS ................ $ 45.97 $34,188,360 48.8% NON-MAJOR TENANTS ................... $ 52.26 35,864,062 51.2 ----------- ----- OCCUPIED TOTAL ...................... $ 48.99 $70,052,422 100.0% =========== ===== VACANT SPACE ........................ PROPERTY TOTAL ...................... - -------------------------------------------------------------------------------------------- (1) Certain ratings are those of the parent whether or not the parent guarantees the lease. (2) Citibank N.A. has 17 different leases that expire between August 31, 2007 and August 31, 2014. 77,806 square feet will expire in 2007, 75,596 square feet will expire in 2009, and 211,668 square feet will expire in 2014. - -------------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE(1)(2) - -------------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % OF CUMULATIVE # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF % OF SF BASE RENT % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING(3) EXPIRING(3) EXPIRING(3) RENT EXPIRING - -------------------------------------------------------------------------------------------------------------- 2007(4) 21 $ 32.80 282,713 19.4% 19.4% 13.2% 13.2% 2008 11 $ 35.56 62,877 4.3% 23.8% 3.2% 16.4% 2009 12 $ 46.52 99,663 6.9% 30.6% 6.6% 23.0% 2010 29 $ 53.86 402,840 27.7% 58.3% 31.0% 54.0% 2011 12 $ 63.09 94,207 6.5% 64.8% 8.5% 62.5% 2012 0 $ 0.00 0 0.0% 64.8% 0.0% 62.5% 2013 2 $ 68.36 1,248 0.1% 64.9% 0.1% 62.6% 2014 15 $ 48.30 213,418 14.7% 79.6% 14.7% 77.3% 2015 1 $ 15.00 50 0.0% 79.6% 0.0% 77.3% 2016 16 $ 55.65 180,112 12.4% 92.0% 14.3% 91.6% 2017 2 $ 94.09 3,364 0.2% 92.2% 0.5% 92.1% Thereafter 6 $ 61.89 89,424 6.1% 98.3% 7.9% 100.0% Vacant 0 NA 24,194 1.7% 100.0% 0.0% 100.0% - -------------------------------------------------------------------------------------------------------------- (1) Information obtained from underwritten rent roll. (2) Assumes no tenant exercises an early termination option, if applicable. (3) Calculated based upon approximate square footage occupied by each tenant. (4) Includes month-to-month leases. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 20 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "666 Fifth Avenue Loan") is secured by a first priority mortgage encumbering a 39-story, approximately 1,454,110 square foot Class "A" multi-tenant office tower occupying a full block front site on Fifth Avenue between 52nd and 53rd Streets in Midtown Manhattan's Plaza District (the "666 Fifth Avenue Property"). The 666 Fifth Avenue Loan represents approximately 7.9% of the Cut-Off Date Pool Balance. The 666 Fifth Avenue Loan is part of a $1,215,000,000 mortgage loan (the "666 Fifth Avenue Whole Loan") that was co-originated by BCRE and UBS Real Estate Investments Inc. ("UBSREI"). The 666 Fifth Avenue Whole Loan has a Cut-off Date Balance of $1,215,000,000 and consists of the 666 Fifth Avenue Loan and six pari passu loans (the "666 Fifth Avenue Pari Passu Companion Loans") with an aggregate Cut-off Date Balance of $929,500,000. The respective rights of the holders of the pari passu notes evidencing the 666 Fifth Avenue Whole Loan will be governed by a co-lender agreement and will be serviced pursuant to the terms of the pooling and servicing agreement relating to the GE Commercial Mortgage Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-C1 transaction, as described in the Prospectus Supplement under "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans". The 666 Fifth Avenue Loan provides for interest-only payments for the entire loan term. The 666 Fifth Avenue Loan has a remaining term of 114 months and matures on February 5, 2017. The 666 Fifth Avenue Loan may be prepaid on or after August 5, 2016, and permits defeasance with United States government obligations beginning on the earlier of 48 months following the loan origination date and 2 years after the date that the final 666 Fifth Avenue Pari Passu Companion Loan is securitized. o THE BORROWER. The borrower is 666 Fifth Associates, LLC, a special purpose and bankruptcy remote entity owned and controlled by George Gellert and Jared Kushner (together, the "Sponsors"). The borrower has two independent directors in its ownership structure and has delivered a non-consolidation opinion in connection with the origination of the 666 Fifth Avenue Loan. George Gellert is the managing member of the borrower. Jared Kushner is a principal of the New York division of Kushner Companies. Kushner Companies is a private real estate organization involved in the ownership, development, redevelopment and management of single and multifamily housing, commercial, retail, industrial and hotel properties throughout the Northeast and Mid-Atlantic regions. Headquartered in Florham Park, New Jersey, with executive offices in Manhattan, the company manages its residential and commercial portfolios through its corporate offices and operating divisions. These include Westminster Management LLC, the residential management arm; Westminster Communities LLC, the construction division; Kushner Properties, the commercial leasing and management division; Westminster Hospitality, the hotel division; Westminster Capital Corp., which coordinates financing for the firm; and various acquisition and land development teams. Principals of the Kushner Companies own in excess of 25,000 apartment units; the Kushner Companies' commercial portfolio consists of nearly 6.5 million square feet of office, industrial and retail space and thousands of acres of land suitable for development. Properties are located in New Jersey, New York, Pennsylvania, Maryland and Delaware. George Gellert is a real estate developer and the president and chairman of the board of Atalanta Corporation, a food importer and international trading company located in Elizabeth, New Jersey. o THE PROPERTY. The 666 Fifth Avenue Property is a 39-story office building containing approximately 1,549,623 rentable square feet which includes approximately 1,367,545 square feet of office space, approximately 95,513 square feet of retail space (the "Fifth Avenue Retail Space"), approximately 69,087 square feet of other retail/storage space (the "Other Retail Space") and approximately 17,478 square feet of parking with valet parking space for approximately 90 cars (the "Parking Garage Space"). The Fifth Avenue Retail Space is currently occupied by the NBA Store, Brooks Brothers and Hickey Freeman. The 666 Fifth Avenue Property has been institutionally owned and maintained since its construction and underwent approximately $40 million of extensive renovation and expansion in 1999. The renovations included new retail stores and a glass facade for the entire first and second floors. Renovations since 1999 have included a $1.7 million low-rise, freight and loading dock elevator modernization project, as well as a $2.1 million replacement of the building's main electrical switchboards, an electrical capacity upgrade, full sidewalk replacement, lobby renovation to create the Hickey Freeman retail space and a $2.3 million HVAC upgrade that included installation of a building management system. The borrower has notified BCRE that it intends to convert the 666 Fifth Avenue Property to a condominium, which conversion will be subject to satisfaction of various conditions contained in the related Mortgage Loan documents. As of January 11, 2007, the 666 Fifth Avenue Property, excluding the Fifth Avenue Retail Space, was 98.3% occupied by 47 tenants. The largest tenant at the property, Citibank, N.A. ("Citibank") (rated "AA" by S&P, "AA+" by Fitch and "Aa1" by This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 21 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- Moody's) occupies approximately 365,070 square feet (25.1% of the total square footage). Citibank occupies space in portions of the 3rd through 7th and 10th floors and the entire 12th and 13th floors. Citibank is the largest operating subsidiary of Citigroup Inc. (NYSE: "C"). Citigroup is ranked 8th in the 2006 Fortune 500 and has approximately 3,000 bank branches and consumer finance offices in the United States and Canada, plus approximately 2,000 locations in approximately 100 other countries. Citigroup is a diversified financial services company engaged in providing consumer product offerings, including banking services, credit cards and loans. Citigroup is divided into three major business groups: Global Consumer, Global Wealth Management and Corporate and Investment Banking. The 666 Fifth Avenue Property is home to Citigroup's Private Banking division, part of its Global Wealth Management division and other related financial activities. Citibank leases certain signage rights on the north, west and south sides of the 666 Fifth Avenue Property through August 2009. Citibank is the largest tenant and has been at the 666 Fifth Avenue Property since 1989. Orrick, Herrington & Sutcliffe ("Orrick"), the second largest tenant, occupies approximately 239,464 square feet (16.5% of the total square footage) with space in portions of the sub-basement, 2nd and 10th floors and the entire 16th through 23rd floors. Orrick is a full service, approximately 980 attorney law firm that was formed in San Francisco in 1863. Orrick has 18 offices in 7 countries. According to the American Lawyer, Orrick was ranked 28th (in revenues) in the 2007 Am Law 100. Orrick has approximately 200 attorneys at this location and has been a tenant at the 666 Fifth Avenue Property since 1995. Fulbright & Jaworski L.L.P. ("Fulbright"), the third largest tenant at the property, occupies approximately 139,177 square feet (9.6% of the total square footage) with space in portions of the 10th and 35th floors and the entire 24th and 30th through 33rd floors. Founded in 1919, Fulbright is one of the largest law firms in the nation, comprising approximately 1,000 attorneys in sixteen offices worldwide in 50 integrated practice areas. Fulbright was ranked 34th (in revenues) in the 2007 Am Law 100. Fulbright has approximately 140 attorneys at this location and has been a tenant at the 666 Fifth Avenue Property since 1992. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a mortgagee-designated lockbox account. o RELEASE. The borrower is permitted, after the later to occur of (i) the Condominium Conversion Date (as defined below) and (ii) the expiration of the defeasance lockout period to obtain the release of the Parking Garage Space and/or the Other Retail Space pursuant to a partial defeasance of a portion of the 666 Fifth Avenue Whole Loan in an amount equal to $8,550,000 with respect to the Parking Garage Space and $95,000,000 with respect to the Other Retail Space, provided, among other things: (a) any net proceeds from the sale of the Fifth Avenue Retail Space have been used to pay down the Senior Mezzanine Loan (as defined under "Mezzanine Debt" below) and any proceeds remaining, if applicable, have been used to pay down the Junior Mezzanine Loan (as defined under "Mezzanine Debt" below), and (b) after giving effect to such release, the DSCR for the 666 Fifth Avenue Property remaining after the release is at least equal to the DSCR for the 666 Fifth Avenue Property (including the release parcel) for the 12 months immediately preceding the release. The borrower is also permitted to obtain the release of the Fifth Avenue Retail Space on or after the Condominium Conversion Date (as defined below) upon the payment in full of the Senior Mezzanine Loan, provided, among other things: (a) in the event that such release occurs prior to July 1, 2008, the borrower has delivered to the mortgagee an amount equal to $105,000,000, less $2,500,000 for every full calendar month, if any, that the release occurs prior to July 1, 2008, (b) the borrower under the Junior Mezzanine Loan has prepaid (or is simultaneously prepaying) (i) in connection with a sale of the Fifth Avenue Retail Space, a portion of the Junior Mezzanine Loan in an amount equal to all remaining net sales proceeds or (ii) in connection with a refinancing of the Fifth Avenue Retail Space, the entire balance of the Junior Mezzanine Loan and (c) with respect to the remaining portion of the 666 Fifth Avenue Property (not including the Fifth Avenue Retail Space), the loan-to-value ratio (including any remaining principal balance of the Junior Mezzanine Loan, if applicable) is not more than 89%. The "Condominium Conversion Date" is the date on which the 666 Fifth Avenue Property has been converted to a condominium form of ownership. o MEZZANINE DEBT. At origination, BCRE provided a $200 million mezzanine loan (the "Junior Mezzanine Loan") to the indirect equity owner of the borrower. In addition, the equity owner of the borrower obtained a $335 million mezzanine loan (the "Senior Mezzanine Loan") from BCRE and UBSREI. The holders of the Junior Mezzanine Loan and the Senior Mezzanine Loan are subject to an intercreditor agreement with the mortgagee. Provided that the Junior Mezzanine Loan has been paid in full, the owners of the beneficial interest in the borrower may incur additional junior indebtedness, provided, among other things: (a) the amount of such additional junior indebtedness is either This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 22 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 666 FIFTH AVENUE - -------------------------------------------------------------------------------- (i) reasonably acceptable to the mortgagee or (ii) in an amount that when added to the then outstanding principal balance of the 666 Fifth Avenue Whole Loan and the outstanding balance of the Senior Mezzanine Loan, if applicable, results in a loan-to-value ratio not in excess of 89%, based on a new appraisal; the mortgagee must have received written confirmation from the applicable rating agencies that the incurrence of such indebtedness will not result in the downgrade, qualification or withdrawal of the ratings then assigned to the Certificates. o ROLLOVER/INTEREST RESERVE. At origination, $100,000,000 was deposited with mortgagee in the Rollover/Interest Reserve account to pay: (i) tenant improvements and leasing commissions at the 666 Fifth Avenue Property and (ii) debt service shortfalls under the 666 Fifth Avenue Whole Loan or the Senior Mezzanine Loan. If the Fifth Avenue Retail Space is released prior to July 1, 2008, the borrower is required to deposit $105,000,000 with mortgagee less $2,500,000 for each full calendar month (if any) that the release occurs prior to the July 1, 2008, and on July 1, 2008, the borrower is required to deposit such amount as is necessary to cause a reserve (the "Ongoing Reserve") to contain $105,000,000. In the event that the Fifth Avenue Retail Space is not released prior to July 1, 2008, the borrower is required to deposit such amount as is necessary to cause the balance of the Ongoing Reserve to equal $105,000,000; provided, however, such $105,000,000 will be (i) reduced by any amounts then on deposit in the Rollover/Interest Reserve (which amounts are required to be transferred into the Ongoing Reserve) and (ii) increased by the positive difference, if any, obtained by subtracting (a) the portion of the Rollover/Interest Reserve disbursed by the mortgagee prior to July 1, 2008 for tenant improvements and leasing commissions from (b) $20,000,000. o MANAGEMENT. The 666 Fifth Avenue Property is managed by Tishman Speyer Properties L.P. ("Tishman"), which is not affiliated with the borrower. Tishman is one of the leading owners, developers, fund managers and operators of first-class real estate in New York City. Since its inception, Tishman has managed a portfolio of assets of more than 77 million square feet in major metropolitan areas across the United States, Europe, Latin America and Asia. Some of the properties under the management of Tishman in New York City include Rockefeller Center (12 buildings), MetLife building, Chrysler Center and Peter Cooper Village/Stuyvesant Town. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 23 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 24 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- [6 PHOTOS OF ING HOSPITALITY POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 25 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- [MAP OF ING HOSPITALITY POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 26 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $283,850,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 7.9% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR ING Clarion Partners TYPE OF SECURITY Various PARTIAL RELEASE(1) Yes MORTGAGE RATE 5.663% MATURITY DATE June 11, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 58 / IO LOCKBOX(2) Springing UP-FRONT RESERVES ENGINEERING(3) $2,127,290 PIP (4) $56,042,810 ONGOING ANNUAL RESERVES TAX / INSURANCE Springing FF&E(5) Springing ADDITIONAL FINANCING(6) Pari Passu Debt $283,850,000 PARI PASSU NOTES(7) ------------ CUT-OFF DATE BALANCE $567,700,000 CUT-OFF DATE BALANCE / ROOM $97,947 CUT-OFF DATE LTV 63.8% MATURITY DATE LTV 63.8% UW DSCR ON NCF 2.14x - -------------------------------------------------------------------------------- (1) The ING Hospitality Pool Loan permits partial release of certain properties comprising the Mortgaged Property under certain circumstances. See "Release" below. (2) A lockbox may be required upon either: (i) an event of default or (ii) certain other conditions as specified in the related Mortgage Loan documents. (3) At origination, $2,127,290 was escrowed to fund an engineering reserve. The reserve can be used for funding certain maintenance, repairs and/or remedial or corrective work related to various building code and fire code deficiencies. (4) The up-front property improvement plans and renovation reserve of $56,042,810 is maintained at JPMorgan Chase Bank N.A. in the name of the borrower's sponsor. The reserve is collaterally assigned to the mortgagee and the reserve will be transferred to the mortgagee upon an event of default. (5) Annual amount determined by mortgagee, in no event less than 4.0% of the gross revenue. (6) Future mezzanine debt is permitted, subject to certain conditions including, but not limited to: (i) the debt yield is not less than 10.0%, (ii) the aggregate loan-to-value ratio shall not exceed 80.0%, (iii) rating agency consent and (iv) certain other conditions as specified in the related Mortgage Loan documents. (7) LTV Ratios, DSC Ratio and Cut-Off Date Balance / Room were derived from the aggregate indebtedness of, or scheduled debt service due in connection with, the ING Hospitality Pool Loan and the ING Hospitality Pool Pari Passu Companion Loan. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 46 LOCATION Various PROPERTY TYPE Hospitality -- Extended Stay SIZE (ROOMS) 5,796 OCCUPANCY AS OF TTM DECEMBER 2006 77.0% YEAR BUILT / YEAR RENOVATED Various APPRAISED VALUE $890,300,000 Marriott International, Inc. or PROPERTY MANAGEMENT Hilton Hotels Corporation UW ECONOMIC OCCUPANCY 78.2% UW REVENUES $198,916,263 UW TOTAL EXPENSES $122,171,704 UW NET OPERATING INCOME (NOI) $76,744,560 UW NET CASH FLOW (NCF) $68,787,909 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 27 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------- ING HOSPITALITY POOL SUMMARY - ----------------------------------------------------------------------------------------------- ALLOCATED SPECIFIC CUT-OFF PROPERTY YEAR BUILT / PROPERTY NAME DATE BALANCE TYPE RENOVATED ROOMS - ----------------------------------------------------------------------------------------------- Residence Inn -- La Jolla, CA $ 28,759,000 Extended Stay 1986 / 2003 288 Residence Inn Seattle East -- Redmond, WA 17,819,000 Extended Stay 1999 / NA 180 Residence Inn -- Long Beach, CA 15,324,000 Extended Stay 1987 / 2006 216 Residence Inn -- Costa Mesa, CA 13,578,000 Extended Stay 1986 / NA 144 Residence Inn Pasadena -- Arcadia, CA 11,760,500 Extended Stay 1989 / NA 120 Residence Inn -- Irvine, CA 10,620,000 Extended Stay 1989 / 2003 112 Homewood Suites -- Herndon, VA 10,156,500 Extended Stay 1998 / 2006 109 Residence Inn Concord -- Pleasant Hill, CA 9,337,000 Extended Stay 1989 / NA 126 Residence Inn -- San Ramon, CA 7,982,500 Extended Stay 1989 / NA 106 Homewood Suites -- Linthicum, MD 7,662,000 Extended Stay 1998 / 2006 147 Residence Inn -- Saint Louis, MO 6,842,500 Extended Stay 1988 / 2005 152 Residence Inn -- Bakersfield, CA 6,272,000 Extended Stay 1990 / 2004 114 Residence Inn -- Boulder, CO 6,022,500 Extended Stay 1986 / 2003 128 Residence Inn Chicago -- Deerfield, IL 5,951,500 Extended Stay 1989 / 2004 128 Residence Inn -- Hapeville, GA 5,951,500 Extended Stay 1990 / NA 126 Homewood Suites -- Malvern, PA 5,916,000 Extended Stay 1998 / NA 123 Residence Inn -- Houston, TX 5,630,500 Extended Stay 1989 / 2003 110 Residence Inn -- Santa Fe, NM 5,559,500 Extended Stay 1986 / 2006 120 Residence Inn -- Placentia, CA 5,452,500 Extended Stay 1988 / 2003 112 Homewood Suites -- Glen Allen, VA 5,132,000 Extended Stay 1998 / NA 123 Residence Inn -- Atlanta, GA (Buckhead) 5,096,000 Extended Stay 1987 / 2004 136 Homewood Suites -- Beaverton, OR 4,918,000 Extended Stay 1998 / NA 123 Residence Inn -- Cincinnati, OH 4,739,500 Extended Stay 1985 / NA 144 Residence Inn -- Lombard, IL 4,561,500 Extended Stay 1987 / 2006 144 Residence Inn -- Jacksonville, FL 4,526,000 Extended Stay 1986 / 2004 112 Homewood Suites -- Irving, TX 4,419,000 Extended Stay 1989 / 2005 136 Homewood Suites -- Clearwater, FL 4,383,500 Extended Stay 1998 / 2006 112 Residence Inn Dallas -- Irving, TX 4,383,500 Extended Stay 1989 / 2007 120 Residence Inn -- Boca Raton, FL 4,027,000 Extended Stay 1988 / 2005 120 Residence Inn -- Clearwater, FL 3,920,000 Extended Stay 1986 / 2004 88 Residence Inn -- Birmingham, AL 3,813,000 Extended Stay 1986 / 2004 128 Residence Inn -- Smyrna, GA 3,670,500 Extended Stay 1986 / 2006 130 Homewood Suites -- Addison, TX 3,528,000 Extended Stay 1989 / 2006 120 Homewood Suites -- Chesterfield, MO 3,385,500 Extended Stay 1999 / NA 145 Residence Inn -- Montgomery, AL 3,350,000 Extended Stay 1990 / 2006 94 Homewood Suites -- Atlanta, GA (Buckhead) 3,314,500 Extended Stay 1997 / 2006 92 Residence Inn -- Blue Ash, OH 3,029,000 Extended Stay 1989 / 2006 118 Residence Inn -- Chesterfield, MO 3,029,000 Extended Stay 1986 / 2006 104 Residence Inn -- Berwyn, PA 2,993,500 Extended Stay 1988 / 2003 88 Residence Inn -- Danvers, MA 2,922,000 Extended Stay 1989 / 2006 96 Homewood Suites -- Midvale, UT 2,886,500 Extended Stay 1996 / NA 98 Homewood Suites -- Plano, TX 2,744,000 Extended Stay 1996 / 2006 99 Homewood Suites -- Atlanta, GA (Cumberland) 2,530,000 Extended Stay 1990 / 2006 124 Residence Inn -- Memphis, TN 2,245,000 Extended Stay 1986 / 2007 105 Residence Inn -- Atlanta, GA (DeKalb) 2,067,000 Extended Stay 1984 / 2002 144 Homewood Suites -- Norcross, GA 1,639,500 Extended Stay 1989 / NA 92 ------------ ----- TOTAL/WEIGHTED AVERAGE $283,850,000 5,796 ============ ===== - ----------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- ALLOCATED CUT-OFF APPRAISED DATE BALANCE VALUE OCCUPANCY ADR REVPAR PROPERTY NAME PER ROOM(1) PER ROOM PENETRATION(2) PENETRATION(2) PENETRATION(2) - ---------------------------------------------------------------------------------------------------------------------- Residence Inn -- La Jolla, CA $199,715 $301,042 107.0% 106.7% 114.2% Residence Inn Seattle East -- Redmond, WA $197,989 $292,222 96.6% 108.5% 104.9% Residence Inn -- Long Beach, CA $141,889 $210,185 94.5% 130.2% 123.1% Residence Inn -- Costa Mesa, CA $188,583 $275,000 107.9% 103.6% 111.7% Residence Inn Pasadena -- Arcadia, CA $196,008 $298,333 109.5% 122.8% 134.5% Residence Inn -- Irvine, CA $189,643 $291,964 109.0% 122.7% 133.7% Homewood Suites -- Herndon, VA $186,358 $274,312 108.1% 100.3% 108.4% Residence Inn Concord -- Pleasant Hill, CA $148,206 $243,651 118.3% 112.2% 132.7% Residence Inn -- San Ramon, CA $150,613 $248,113 114.9% 131.1% 150.6% Homewood Suites -- Linthicum, MD $104,245 $156,463 106.8% 110.7% 118.2% Residence Inn -- Saint Louis, MO $ 90,033 $133,553 115.9% 99.0% 114.7% Residence Inn -- Bakersfield, CA $110,035 $164,912 121.7% 109.1% 132.8% Residence Inn -- Boulder, CO $ 94,102 $151,563 127.2% 97.3% 123.8% Residence Inn Chicago -- Deerfield, IL $ 92,992 $142,969 95.5% 107.3% 102.4% Residence Inn -- Hapeville, GA $ 94,468 $165,079 95.1% 127.2% 120.9% Homewood Suites -- Malvern, PA $ 96,195 $160,163 117.1% 105.2% 123.2% Residence Inn -- Houston, TX $102,373 $183,636 113.6% 110.1% 125.1% Residence Inn -- Santa Fe, NM $ 92,658 $137,500 140.8% 118.8% 167.3% Residence Inn -- Placentia, CA $ 97,366 $157,143 110.1% 100.1% 110.2% Homewood Suites -- Glen Allen, VA $ 83,447 $125,203 108.8% 99.0% 107.8% Residence Inn -- Atlanta, GA (Buckhead) $ 74,941 $122,794 108.6% 99.6% 108.2% Homewood Suites -- Beaverton, OR $ 79,967 $122,764 109.8% 96.6% 106.2% Residence Inn -- Cincinnati, OH $ 65,826 $102,778 135.8% 101.6% 137.9% Residence Inn -- Lombard, IL $ 63,354 $ 99,306 104.5% 98.1% 102.6% Residence Inn -- Jacksonville, FL $ 80,821 $137,500 102.0% 109.3% 111.5% Homewood Suites -- Irving, TX $ 64,985 $ 99,265 109.3% 102.0% 111.5% Homewood Suites -- Clearwater, FL $ 78,277 $116,964 110.6% 111.3% 123.1% Residence Inn Dallas -- Irving, TX $ 73,058 $121,667 89.7% 120.8% 108.4% Residence Inn -- Boca Raton, FL $ 67,117 $109,167 107.5% 101.3% 108.8% Residence Inn -- Clearwater, FL $ 89,091 $139,773 111.6% 124.3% 138.8% Residence Inn -- Birmingham, AL $ 59,578 $ 97,656 84.9% 111.7% 94.9% Residence Inn -- Smyrna, GA $ 56,469 $ 90,769 92.6% 117.5% 108.9% Homewood Suites -- Addison, TX $ 58,800 $ 90,833 98.1% 110.9% 108.8% Homewood Suites -- Chesterfield, MO $ 46,697 $ 72,414 109.9% 92.6% 101.7% Residence Inn -- Montgomery, AL $ 71,277 $111,702 90.1% 98.1% 88.4% Homewood Suites -- Atlanta, GA (Buckhead) $ 72,054 $107,609 94.6% 104.1% 98.5% Residence Inn -- Blue Ash, OH $ 51,339 $ 82,203 119.5% 91.8% 109.7% Residence Inn -- Chesterfield, MO $ 58,250 $ 91,346 113.0% 103.6% 117.1% Residence Inn -- Berwyn, PA $ 68,034 $125,000 101.4% 115.7% 117.3% Residence Inn -- Danvers, MA $ 60,875 $113,542 140.7% 123.7% 174.0% Homewood Suites -- Midvale, UT $ 58,908 $ 89,796 106.5% 99.3% 105.7% Homewood Suites -- Plano, TX $ 55,434 $ 94,949 116.6% 99.1% 115.6% Homewood Suites -- Atlanta, GA (Cumberland) $ 40,806 $ 63,710 117.4% 95.1% 111.6% Residence Inn -- Memphis, TN $ 42,762 $ 68,571 82.2% 96.8% 79.5% Residence Inn -- Atlanta, GA (DeKalb) $ 28,708 $ 83,333 73.2% 102.7% 75.2% Homewood Suites -- Norcross, GA $ 35,641 $ 56,522 133.9% 97.8% 130.9% TOTAL/WEIGHTED AVERAGE $ 97,947 $153,606 107.8% 107.6% 115.8% - --------------------------------------------------------------------------------------------------------------------- (1) Cut-off date balance per room was derived from the aggregate indebtedness of the ING Hospitality Pool Loan and the ING Hospitality Pool Pari Passu Companion Loan. (2) The above information is based on Appraisals from HVS International dated March 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 28 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------ ING HOSPITALITY POOL FINANCIAL PERFORMANCE SUMMARY - ------------------------------------------------------------------------------------------------------------------ 2004 2005 ----------------------------------- ---------------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - ------------------------------------------------------------------------------------------------------------------ Residence Inn -- La Jolla, CA 83.1% $120.49 $100.13 81.2% $134.53 $109.21 Residence Inn Seattle East -- Redmond, WA 76.8% $141.09 $108.39 79.8% $145.53 $116.13 Residence Inn -- Long Beach, CA 82.6% $111.49 $ 92.06 82.5% $121.47 $100.15 Residence Inn -- Costa Mesa, CA 75.9% $112.57 $ 85.49 83.0% $127.35 $105.70 Residence Inn Pasadena -- Arcadia, CA 85.6% $125.00 $107.05 87.5% $138.83 $121.53 Residence Inn -- Irvine, CA 84.2% $114.95 $ 96.83 82.7% $125.81 $104.11 Homewood Suites -- Herndon, VA 82.3% $142.06 $116.97 78.1% $145.14 $113.36 Residence Inn Concord -- Pleasant Hill, CA 80.4% $109.61 $ 88.18 79.0% $117.73 $ 93.06 Residence Inn -- San Ramon, CA 71.6% $115.42 $ 82.65 79.5% $120.52 $ 95.78 Homewood Suites -- Linthicum Heights, MD 79.2% $112.08 $ 88.71 78.8% $115.73 $ 91.18 Residence Inn -- Saint Louis, MO 83.9% $ 94.48 $ 79.24 79.8% $ 97.79 $ 78.06 Residence Inn -- Bakersfield, CA 84.1% $ 95.73 $ 80.54 88.2% $102.11 $ 90.05 Residence Inn -- Boulder, CO 73.2% $108.93 $ 79.77 73.0% $113.09 $ 82.51 Residence Inn -- Hapeville, GA 82.7% $ 93.06 $ 76.98 85.6% $101.37 $ 86.73 Residence Inn Chicago -- Deerfield, IL 79.0% $ 90.41 $ 71.43 76.7% $104.09 $ 79.88 Homewood Suites -- Malvern, PA 77.9% $104.79 $ 81.59 83.6% $104.69 $ 87.52 Residence Inn -- Houston, TX 80.0% $ 92.73 $ 74.15 82.0% $ 97.87 $ 80.27 Residence Inn -- Santa Fe, NM 75.9% $ 94.24 $ 71.50 83.7% $ 92.94 $ 77.76 Residence Inn -- Placentia, CA 79.9% $ 91.05 $ 72.79 86.7% $ 97.69 $ 84.68 Homewood Suites -- Glen Allen, VA 74.9% $ 89.54 $ 67.06 68.1% $ 97.02 $ 66.03 Residence Inn -- Atlanta, GA (Buckhead) 65.9% $ 97.15 $ 64.00 71.7% $104.31 $ 74.77 Homewood Suites -- Beaverton, OH 69.9% $ 77.84 $ 54.45 74.3% $ 81.25 $ 60.36 Residence Inn -- Cincinnati, OH 76.9% $ 80.77 $ 62.14 76.5% $ 87.70 $ 67.07 Residence Inn -- Lombard, IL 77.2% $ 81.89 $ 63.25 73.9% $ 86.54 $ 63.94 Residence Inn -- Jacksonville, FL 79.9% $ 86.15 $ 68.83 86.5% $ 97.14 $ 84.05 Homewood Suites Dallas -- Irving, TX 75.3% $ 88.45 $ 66.58 76.0% $ 90.54 $ 68.77 Residence Inn Dallas -- Irving, TX 77.2% $ 87.33 $ 67.38 77.7% $ 92.85 $ 72.11 Homewood Suites -- Clearwater, FL 78.3% $ 93.17 $ 72.96 79.5% $ 98.52 $ 78.32 Residence Inn -- Boca Raton, FL 86.3% $ 83.13 $ 71.76 82.6% $ 83.39 $ 68.91 Residence Inn -- Clearwater, FL 81.7% $ 97.33 $ 79.55 80.7% $111.95 $ 90.34 Residence Inn -- Birmingham, AL 79.9% $ 79.09 $ 63.16 78.1% $ 91.97 $ 71.78 Residence Inn -- Smyrna, GA 66.6% $ 81.62 $ 54.36 77.7% $ 82.72 $ 64.30 Homewood Suites -- Addison, TX 73.1% $ 80.99 $ 59.24 72.8% $ 84.75 $ 61.66 Homewood Suites -- Chesterfield, MO 100.3% $ 59.08 $ 59.24 71.4% $ 83.12 $ 59.35 Residence Inn -- Montgomery, AL 86.9% $ 87.51 $ 76.04 82.9% $ 94.00 $ 77.90 Homewood Suites -- Atlanta, GA (Buckhead) 76.2% $101.18 $ 77.10 75.5% $105.60 $ 79.71 Residence Inn -- Chesterfield, MO 71.3% $ 84.54 $ 60.25 72.3% $ 85.11 $ 61.57 Residence Inn -- Blue Ash, OH 73.4% $ 86.03 $ 63.15 72.5% $ 90.87 $ 65.90 Residence Inn -- Berwyn, PA 60.0% $111.83 $ 67.09 52.5% $129.72 $ 68.09 Residence Inn -- Danvers, MA 78.8% $ 94.60 $ 74.55 80.0% $ 97.56 $ 78.01 Homewood Suites -- Midvale, UT 70.2% $ 81.17 $ 56.99 70.1% $ 39.35 $ 27.58 Homewood Suites -- Plano, TX 77.9% $ 80.56 $ 62.79 80.3% $ 84.12 $ 67.58 Homewood Suites -- Atlanta, GA (Cumberland) 68.6% $ 87.35 $ 59.89 71.6% $ 89.46 $ 64.01 Residence Inn -- Memphis, TN 64.6% $ 92.11 $ 59.49 70.1% $ 89.54 $ 62.78 Residence Inn -- Atlanta, GA (DeKalb) 65.5% $ 76.42 $ 50.07 66.4% $ 84.45 $ 56.05 Homewood Suites -- Norcross, GA 73.8% $ 74.12 $ 54.71 72.3% $ 74.79 $ 54.08 AVERAGE 77.2% $ 95.46 $ 73.71 77.5% $100.93 $ 78.54 - ------------------------------------------------------------------------------------------------------------------ 2006 UNDERWRITTEN ----------------------------------- ---------------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - ------------------------------------------------------------------------------------------------------------------ Residence Inn -- La Jolla, CA 79.9% $148.38 $118.55 79.9% $156.91 $125.37 Residence Inn Seattle East -- Redmond, WA 76.5% $167.23 $127.88 76.8% $179.49 $137.85 Residence Inn -- Long Beach, CA 74.6% $128.13 $ 95.64 79.0% $136.36 $107.72 Residence Inn -- Costa Mesa, CA 82.0% $140.31 $115.08 82.3% $151.92 $125.03 Residence Inn Pasadena -- Arcadia, CA 80.0% $148.93 $119.08 84.2% $157.58 $132.68 Residence Inn -- Irvine, CA 83.9% $140.42 $117.80 83.7% $152.87 $127.95 Homewood Suites -- Herndon, VA 80.5% $150.15 $120.88 81.6% $156.15 $127.42 Residence Inn Concord -- Pleasant Hill, CA 87.1% $124.21 $108.24 86.0% $135.35 $116.40 Residence Inn -- San Ramon, CA 82.2% $132.90 $109.28 82.2% $140.92 $115.88 Homewood Suites -- Linthicum Heights, MD 79.3% $118.77 $ 94.14 79.5% $123.41 $ 98.11 Residence Inn -- Saint Louis, MO 81.1% $108.97 $ 88.37 81.1% $114.19 $ 92.61 Residence Inn -- Bakersfield, CA 83.9% $110.20 $ 92.48 86.3% $117.55 $101.44 Residence Inn -- Boulder, CO 76.4% $118.12 $ 90.26 75.1% $124.94 $ 93.83 Residence Inn -- Hapeville, GA 79.8% $111.91 $ 89.26 83.8% $115.26 $ 96.59 Residence Inn Chicago -- Deerfield, IL 77.5% $114.61 $ 88.84 77.5% $118.41 $ 91.77 Homewood Suites -- Malvern, PA 86.9% $106.82 $ 92.87 87.8% $112.67 $ 98.92 Residence Inn -- Houston, TX 81.3% $107.11 $ 87.13 81.3% $113.83 $ 92.54 Residence Inn -- Santa Fe, NM 68.7% $102.42 $ 70.35 81.0% $119.64 $ 96.91 Residence Inn -- Placentia, CA 81.7% $106.06 $ 86.66 82.2% $112.19 $ 92.22 Homewood Suites -- Glen Allen, VA 74.0% $ 98.89 $ 73.15 74.0% $ 98.89 $ 73.15 Residence Inn -- Atlanta, GA (Buckhead) 74.1% $109.87 $ 81.43 76.1% $113.01 $ 86.00 Homewood Suites -- Beaverton, OH 79.0% $ 89.17 $ 70.48 78.4% $ 93.84 $ 73.57 Residence Inn -- Cincinnati, OH 78.6% $ 90.87 $ 71.40 78.0% $ 93.94 $ 73.27 Residence Inn -- Lombard, IL 76.9% $ 95.36 $ 73.35 74.5% $106.55 $ 79.38 Residence Inn -- Jacksonville, FL 77.8% $105.43 $ 82.06 80.5% $109.39 $ 88.06 Homewood Suites Dallas -- Irving, TX 78.8% $ 94.80 $ 74.69 79.4% $100.17 $ 79.53 Residence Inn Dallas -- Irving, TX 72.1% $106.36 $ 76.65 75.9% $113.35 $ 86.03 Homewood Suites -- Clearwater, FL 77.7% $103.90 $ 80.76 77.7% $103.90 $ 80.76 Residence Inn -- Boca Raton, FL 70.6% $102.41 $ 72.35 73.0% $111.76 $ 81.58 Residence Inn -- Clearwater, FL 79.6% $115.19 $ 91.70 80.9% $123.25 $ 99.71 Residence Inn -- Birmingham, AL 72.8% $ 94.94 $ 69.14 75.8% $ 98.96 $ 75.01 Residence Inn -- Smyrna, GA 75.6% $ 88.14 $ 66.67 78.3% $ 95.40 $ 74.70 Homewood Suites -- Addison, TX 74.6% $ 92.03 $ 68.62 75.2% $ 95.37 $ 71.72 Homewood Suites -- Chesterfield, MO 69.7% $ 84.07 $ 58.57 69.7% $ 84.07 $ 58.56 Residence Inn -- Montgomery, AL 77.9% $ 94.58 $ 73.67 80.5% $102.84 $ 82.78 Homewood Suites -- Atlanta, GA (Buckhead) 75.2% $112.54 $ 84.62 76.0% $118.93 $ 90.38 Residence Inn -- Chesterfield, MO 77.0% $ 94.04 $ 72.40 77.0% $ 97.37 $ 74.97 Residence Inn -- Blue Ash, OH 73.6% $ 95.54 $ 70.30 74.6% $100.34 $ 74.85 Residence Inn -- Berwyn, PA 69.2% $127.08 $ 87.95 69.2% $128.56 $ 88.96 Residence Inn -- Danvers, MA 79.9% $103.44 $ 82.66 81.5% $107.92 $ 87.95 Homewood Suites -- Midvale, UT 75.0% $ 90.22 $ 67.64 75.4% $ 93.73 $ 70.67 Homewood Suites -- Plano, TX 78.0% $ 96.79 $ 75.49 78.0% $ 96.79 $ 75.48 Homewood Suites -- Atlanta, GA (Cumberland) 67.3% $ 94.76 $ 63.73 72.5% $ 97.88 $ 70.96 Residence Inn -- Memphis, TN 67.5% $ 95.33 $ 64.39 67.5% $100.43 $ 67.84 Residence Inn -- Atlanta, GA (DeKalb) 66.2% $ 87.17 $ 57.67 67.4% $ 92.26 $ 62.18 Homewood Suites -- Norcross, GA 78.2% $ 79.59 $ 62.25 79.9% $ 82.50 $ 65.92 AVERAGE 77.0% $109.31 $ 84.49 78.2% $115.24 $ 90.55 - ------------------------------------------------------------------------------------------------------------------ This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 29 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "ING Hospitality Pool Loan") is secured by a first mortgage encumbering the borrowers' fee or leasehold interests in 46 extended stay hotels. The ING Hospitality Pool Loan represents approximately 7.9% of the Cut-Off Date Pool Balance. The ING Hospitality Pool Loan was originated on May 23, 2007, and has a principal balance as of the Cut-Off Date of $283,850,000. The ING Hospitality Pool Loan, which is evidenced by a pari passu note, dated May 23, 2007, is a portion of a whole loan with an original principal balance of $567,700,000. The other loan related to the ING Hospitality Pool Loan is evidenced by a separate note, dated May 23, 2007 (the "ING Hospitality Pool Pari Passu Loan" and together with the ING Hospitality Pool Loan, the "ING Hospitality Pool Whole Loan"), with an original principal balance of $283,850,000. The ING Hospitality Pool Pari Passu Loan will not be an asset of the Trust Fund. The ING Hospitality Pool Loan and the ING Hospitality Pool Pari Passu Loan are governed by an intercreditor and servicing agreement and will be serviced pursuant to the terms of the pooling and servicing agreement, as described in the Prospectus Supplement under "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans". The ING Hospitality Pool Loan provides for interest-only payments for the entire loan term. The ING Hospitality Pool Loan has a remaining term of 58 months and matures on June 11, 2012. The ING Hospitality Pool Loan may be prepaid at any time through and including December 11, 2011, with payment of the greater of yield maintenance or 1.0% of the prepaid amount and without penalty thereafter. o THE BORROWERS. The borrowers consist of 13 special purpose entities. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the ING Hospitality Pool Loan. The sponsor of the borrowers is ING Clarion Partners ("ING Clarion") through its affiliate Lion ES Hotels, LP. ING Clarion Partners is a subsidiary of ING Insurance Americas ("ING Insurance"). ING Clarion Partners, founded in 1982, and its affiliates manage more than $45 billion is assets in the private equity, public equity and public debt sectors of the real estate markets. ING Clarion Partners has more than 600 employees located in major markets throughout the United States. ING Insurance Americas offers individual, business and institutional customers financial products and services in insurance, investment, asset management and internet banking. ING Group ("ING Group") , the company's parent, employs more than 112,000 employees and provides banking, insurance and asset management to more than 60 million clients in more than 60 countries. As of July 27, 2007, ING Group was rated "AA--" (Fitch), "Aa2" (Moody's) and "AA-" (S&P). o THE PROPERTIES. The Mortgaged Properties consist of 46 extended stay hotels containing, in the aggregate, approximately 5,796 rooms located throughout 18 states. Based on the trailing 12-month period ending December 2006, the average occupancy rate for the Mortgaged Properties securing the ING Hospitality Pool Loan was approximately 77.0%. o SUBSTITUTION. The borrowers may substitute properties of like kind and quality subject to certain criteria, including but not limited to (i) substitution with a comparable franchise flag and management, (ii) the aggregate of all substituted properties following such substitution cannot exceed 30% of the Mortgaged Property as constituted on the date of origination nor shall the aggregate allocated loan amounts for the substituted properties following any substitution exceed fifty percent (50%) of the original principal amount of the Mortgage Loan, (iii) the appraisal of the substitute property indicates an appraised value at least equal to or greater than the appraised value of the substituted property, (iv) the substitute Mortgaged Property having a debt yield equal to or greater than the substituted Mortgaged Property debt yield at origination and (v) receipt by the mortgagee of a no downgrade letter from the Rating Agencies. o RELEASE. The release of an individual Mortgaged Property will be permitted subject to satisfaction of certain tests and conditions as set forth in the related Mortgage Loan documents including (i) a prepayment premium equal to the greater of 1.0% or yield maintenance, (ii) loan repayment in the amount of the Release Premium, (iii) a debt yield of not less than 11.5% on the remaining properties and (iv) the mortgagee's receipt of a no-downgrade confirmation from the Rating Agencies where the partial release would result in the then outstanding Mortgage Loan balance being reduced by more than 15%. The Release Premium is 100% for the first 0-35% of the original loan amount being pre-paid, 105% for the next 36-50% of the original loan amount being pre-paid and 110% for the final 51-100% of the original loan amount being pre-paid. o LOCKBOX ACCOUNT. At the mortgagee's election, but only at a time during which the Mortgaged Property is not managed by a Qualified Manager (as defined in the Mortgage Loan documents) or an event of default under the Mortgage Loan documents exists, all revenue from the Mortgaged Properties will be deposited into a mortgagee-designated lockbox. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 30 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ING HOSPITALITY POOL - -------------------------------------------------------------------------------- o MANAGEMENT. The Mortgaged Properties secured by Residence Inn hotels are managed by Residence Inn by Marriott, LLC, an affiliate of Marriott International, Inc. ("Marriott International"). Established in 1971 and headquartered in Washington, D.C., Marriott International engages in the operation and franchising of hotels and related lodging facilities worldwide. Marriott International operates in the full service, select-service, extended stay, timeshare and synthetic fuel industry segments. As of January 3, 2007, the company operated or franchised approximately 2,800 lodging properties. The Mortgaged Properties secured by Homewood Suites hotels are managed by Promus Hotels, Inc., an affiliate of Hilton Hotels Corporation ("Hilton Hotels"). Established in 1946 and headquartered in Beverly Hills, California, Hilton Hotels engages in the ownership, management and development of hotels, resorts and timeshare properties in the United States and internationally. Hilton Hotels operates full service, limited service and extended stay hotels in urban, airport, resort and suburban locations. As of March 31, 2007, Hilton Hotels had approximately 2,838 hotels and approximately 483,090 rooms. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 31 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 32 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- [4 PHOTOS OF SAWGRASS MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 33 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- [MAP OF SAWGRASS MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 34 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- [MAP OF SAWGRASS MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 35 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Nomura CUT-OFF DATE BALANCE(1) $265,294,118 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 7.4% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR(2) Sunrise Mills (MLP) Limited Partnership; Sawgrass Mills Phase II Limited Partnership; Sawgrass Mills Phase III Limited Partnership; Sawgrass Mills Phase IV, LLC and The Mills Limited Partnership TYPE OF SECURITY Fee PARTIAL RELEASE(3) Yes MORTGAGE RATE 5.820% MATURITY DATE July 1, 2014 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 84 ORIGINAL TERM / AMORTIZATION 84 / IO REMAINING TERM / AMORTIZATION 83 / IO LOCKBOX Yes UP-FRONT RESERVES None ONGOING ANNUAL RESERVES INSURANCE Springing ADDITIONAL FINANCING(4) Pari Passu Debt $554,705,882 B-Note $30,000,000 PARI PASSU WHOLE MORTGAGE NOTES(5) LOAN ------------ -------------- CUT-OFF DATE BALANCE $820,000,000 $850,000,000 CUT-OFF DATE BALANCE / SF $412 $427 CUT-OFF DATE LTV 80.0% 82.9% MATURITY DATE LTV 80.0% 82.9% UW DSCR ON NCF 1.20x 1.16x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Sunrise, FL PROPERTY TYPE Retail -- Anchored SIZE (SF)(6) 1,991,491 OCCUPANCY AS OF MAY 1, 2007 95.8% YEAR BUILT / YEAR RENOVATED 1990 / 2006 APPRAISED VALUE $1,025,000,000 PROPERTY MANAGEMENT Simon Management Associates II, LLC UW ECONOMIC OCCUPANCY 97.9% UW REVENUES $87,617,479 UW TOTAL EXPENSES $28,145,597 UW NET OPERATING INCOME (NOI) $59,471,882 UW NET CASH FLOW (NCF) $57,968,003 - -------------------------------------------------------------------------------- (1) The $850 million Sawgrass Mills loan has been split into multiple pari-passu A-Notes in the amount of $820 million, $265,294,118 of which will be included in the trust fund, and a B-Note in the amount of $30 million. (2) The Mills Limited Partnership has provided for a payment guaranty in the maximum principal amount of $100,000,000, which may be reduced on a quarterly basis during the term of the Sawgrass Mills loan beginning with the calendar quarter beginning July 31, 2007, under the conditions set forth in the related Mortgage Loan documents. The Mills Limited Partnership payment guaranty shall terminate completely upon the earlier of (i) the total Whole Mortgage Loan is paid off or satisfied in full, (ii) the Whole Mortgage Loan is fully defeased pursuant to the terms of the loan agreement, or (iii) the adjusted guaranty amount is $0. There can be no assurance that the guarantors will have the creditworthiness or financial ability to make any payments due under the foregoing guaranties. (3) The release of non-income producing portions of the Mortgaged Property is permitted (which include the portion of the property's "ring road") subject to certain conditions in the related Mortgage Loan documents. (4) The borrower is permitted to secure future mezzanine debt provided certain terms and conditions are satisfied, including but not limited to: (i) the aggregate DSC ratio is not less than 1.05x and (ii) the aggregate LTV ratio does not exceed 85%. (5) LTV ratios, DSC ratio and Cut-Off Balance/SF were derived from the aggregate indebtedness of, or scheduled debt service due in connection with, the pari-passu A-- Notes for the Sawgrass Mills Loan. (6) Total square footage for the mall is approximately 2,275,541 square feet, of which approximately 1,991,491 square feet serves as collateral for the mortgage loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 36 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------- SAWGRASS MILLS TENANT SUMMARY - ------------------------------------------------------------------------------------------- % OF NET RATINGS(1) NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - ------------------------------------------------------------------------------------------- ANCHOR TENANTS Super Target ......................... A+/A1/A+ 152,560 Wannado .............................. NR/NR/NR 113,567 5.7% Burlington Coat Factory .............. CCC+/B3/B 111,324 5.6 JC Penney ............................ BBB/Baa3/BBB- 104,506 5.2 Regal Theatre ........................ B-/B2/BB- 89,591 4.5 Bed, Bath & Beyond ................... NR/NR/BBB 79,409 4.0 BrandsMart ........................... NR/NR/NR 77,527 3.9 Marshalls ............................ NR/A3/A 77,340 3.9 Outlet Marketplace ................... NR/NR/NR 75,446 --------- ----- TOTAL ANCHOR TENANTS .................. 881,270 32.8%(2) MAJOR TENANTS American Signature Furniture ......... NR/NR/NR 53,768 The Sports Authority ................. NR/NR/B 47,662 2.4% Saks ................................. B+/B3/B+ 45,633 2.3 Neiman Marcus ........................ B-/B2/B+ 44,216 2.2 T.J. Maxx ............................ NR/A3/A 37,948 1.9 Gap Outlet, Store .................... BB+/Ba1/BB+ 28,152 1.4 Nordstrom Rack ....................... A-/Baa1/A 26,976 1.4 Nike Factory Store ................... NR/A2/A+ 25,110 1.3 Bealls Outlet Stores, Inc. ........... NR/NR/NR 22,656 1.1 RonJon Surf Shop ..................... NR/NR/NR 22,539 1.1 --------- ----- TOTAL MAJOR TENANTS .................. 354,660 15.1%(2) NON-MAJOR TENANTS ..................... 953,038 47.9 --------- ----- OCCUPIED TOTAL ........................ 1,907,194(2) 95.8% VACANT SPACE .......................... 84,297 4.2 --------- ----- COLLATERAL PROPERTY TOTAL ............. 1,991,491 100.0% ========= ===== TOTAL CENTER GLA ...................... 2,275,541(3) ========= - ------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------ % OF TOTAL BASE RENT ANNUAL BASE LEASE TENANT PSF ANNUAL BASE RENT RENT EXPIRATION - ------------------------------------------------------------------------------------------------------------ ANCHOR TENANTS Super Target ......................... ANCHOR OWNED -- NOT PART OF COLLATERAL Wannado .............................. $15.80 $ 1,794,359 4.1% May 2024 Burlington Coat Factory .............. $ 6.00 667,944 1.5 December 2008 JC Penney ............................ $ 5.84 610,573 1.4 June 2009 Regal Theatre ........................ $15.47 1,385,973 3.1 May 2009 Bed, Bath & Beyond ................... $ 7.75 615,420 1.4 February 2009 BrandsMart ........................... $ 5.87 455,436 1.0 October 2010 Marshalls ............................ $ 9.27 716,588 1.6 January 2011 Outlet Marketplace ................... ANCHOR OWNED -- NOT PART OF COLLATERAL ----- TOTAL ANCHOR TENANTS .................. $ 7.09 $ 6,246,292 14.2% MAJOR TENANTS American Signature Furniture ......... TENANT OWNED -- NOT PART OF COLLATERAL The Sports Authority ................. $12.75 $ 607,691 1.4% November 2010 Saks ................................. $11.08 505,756 1.1 March 2009 Neiman Marcus ........................ $13.25 585,862 1.3 January 2016 T.J. Maxx ............................ $ 9.59 363,980 0.8 January 2010 Gap Outlet, Store .................... $19.00 534,888 1.2 June 2008 Nordstrom Rack ....................... $14.00 377,664 0.9 August 2013 Nike Factory Store ................... $24.50 615,195 1.4 May 2011 Bealls Outlet Stores, Inc. ........... $ 8.50 192,576 0.4 December 2059 RonJon Surf Shop ..................... $22.55 508,254 1.2 December 2008 ----------- ----- TOTAL MAJOR TENANTS .................. $12.10 $ 4,291,866 9.7% NON-MAJOR TENANTS ..................... $35.23 33,577,779 76.1 ----------- ----- OCCUPIED TOTAL ........................ $23.13 $44,115,937 100.0% =========== ===== VACANT SPACE .......................... COLLATERAL PROPERTY TOTAL ............. TOTAL CENTER GLA ...................... - ------------------------------------------------------------------------------------------------------------ (1) Certain ratings are those of the parent company whether or not the parent company guarantees the lease. (2) Does not include tenants whose space is not part of the collateral. (3) Includes approximately 2,276 square feet not included in Super Target. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 37 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------- SAWGRASS MILLS LEASE EXPIRATION SCHEDULE - -------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % OF CUMULATIVE # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF % OF SF BASE RENT % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - -------------------------------------------------------------------------------------------------------- 2007 22 $39.36 59,430 3.0% 3.0% 5.3% 5.3% 2008 29 $19.38 252,184 12.7% 15.6% 11.1% 16.4% 2009 33 $16.46 416,540 20.9% 36.6% 15.5% 31.9% 2010 36 $18.59 313,240 15.7% 52.3% 13.2% 45.1% 2011 43 $25.78 226,301 11.4% 63.7% 13.2% 58.4% 2012 23 $36.22 69,529 3.5% 67.1% 5.7% 64.1% 2013 21 $28.65 109,860 5.5% 72.7% 7.1% 71.2% 2014 16 $40.94 36,421 1.8% 74.5% 3.4% 74.6% 2015 8 $35.48 33,353 1.7% 76.2% 2.7% 77.3% 2016 35 $26.65 153,540 7.7% 83.9% 9.3% 86.5% 2017 16 $42.42 52,732 2.6% 86.5% 5.1% 91.6% Thereafter 15 $20.12 184,064 9.2% 95.8% 8.4% 100.0% Vacant 0 NA 84,297 4.2% 100.0% 0.0% 100.0% - -------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 38 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Sawgrass Mills Loan") is secured by a first mortgage encumbering an anchored retail property located in Sunrise, Florida. The Sawgrass Mills Loan represents approximately 7.4% of the Cut-Off Date Pool Balance. The Sawgrass Mills Loan was originated on June 11, 2007 and has a principal balance as of the Cut-Off Date of $265,294,118. The Sawgrass Mills Loan, which is evidenced by a pari passu note, dated June 11, 2007, is a portion of a whole loan with an original principal balance of $850,000,000. The other loans related to the Sawgrass Mills Loan are evidenced by separate notes, each dated June 11, 2007 (the "Sawgrass Mills Pari Passu Companion Loans" and the "Sawgrass Mills Subordinate Companion Loan" and together with the Sawgrass Mills Loan, the "Sawgrass Mills Whole Loan"), with original aggregate principal balances of $554,705,882 and $30,000,000, respectively. The Sawgrass Mills Pari Passu Companion Loans and the Sawgrass Mills Subordinate Companion Loan will not be assets of the Trust Fund. The Sawgrass Mills Loan, Sawgrass Mills Pari Passu Companion Loans and the Sawgrass Mills Subordinate Companion Loan are governed by a co-lender arrangement and will be serviced pursuant to the terms of the pooling and servicing agreement relating to the J.P. Morgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-LDP 12 transaction, as described in the Prospectus Supplement under "DESCRIPTION OF THE MORTGAGE POOL -- Co-Lender Loans". The Sawgrass Mills Loan provides for interest-only payments for the entire loan term. The Sawgrass Mills Loan has a remaining term of 83 months and matures on July 1, 2014. The Sawgrass Mills Loan may be prepaid on or after January 1, 2014, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWERS. The borrowers are Sunrise Mills (MLP) Limited Partnership, Sawgrass Mills Phase II Limited Partnership, and Sawgrass Mills Phase III Limited Partnership, all of which are special purpose entities. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Sawgrass Mills Loan. The principal of the borrowers is SPG -- FCM Ventures ("SPG - FCM"), which is a joint venture of Simon Property Group, Inc. ("Simon") and Farallon Capital Management ("Farallon"). SPG -- FCM successfully completed a tender offer to acquire all of the outstanding common stock of The Mills Corporation. As of the end of March 31, 2007, SPG-FCM owned approximately 75.38% of the outstanding common stock of The Mills Corporation. Simon is a self-administered and self-managed Real Estate Investment Trust (REIT) which, together with its affiliated management company, currently owns or has an interest in 285 properties in the United States, which consist of 171 regional malls, 68 community/lifestyle centers, 36 Premium Outlet centers and 10 other shopping centers or outlet centers in 38 states and Puerto Rico. Simon also owns interests in four parcels of land held in the United States for future development. Internationally, Simon has ownership interests in 53 European shopping centers (France, Italy and Poland); five Premium Outlet centers in Japan; and one Premium Outlet center in Mexico. Simon has also begun construction on a Premium Outlet center in South Korea and, through a joint venture arrangement, Simon has ownership interests in four shopping centers under construction in China. As a result of The Mills Corporation acquisition, Simon now holds an interest in an additional 38 properties located throughout the United States, including 18 regional malls, 3 community/lifestyle centers, and 17 other retail properties. Simon Property Group, Inc. has a current rating of A-/A- (S&P/Fitch). Farallon is a global investment management company based in San Francisco that manages discretionary equity capital of more than $26 billion, largely from institutional investors such as university endowments, foundations, and pension plans. Farallon invests in public and private debt and equity securities and makes direct investments in private companies and real estate. Farallon invests in real estate across most asset classes around the world, including in the United States, Europe, Latin America and India. o THE PROPERTY. The Mortgaged Property is an approximately 1,991,491 square foot, 1-story anchored retail property, situated on approximately 440.0 acres. The Mortgaged Property was constructed in 1990 and most recently renovated in 2006. The Mortgaged Property is located in Sunrise, Florida. As of May 1, 2007, the occupancy rate for the Mortgaged Property securing the Sawgrass Mills Loan was approximately 95.8%. The largest tenant is Wannado, currently occupying approximately 113,567 square feet, or approximately 5.7% of the net rentable area. Aimed at children ages 3-13 years old, Wannado City recreates all the sites of a major city from the point of view of children, with many real-play venues and hundreds of career possibilities. The Wannado lease expires in May 2024. The second largest tenant is Burlington Coat Factory, currently occupying approximately 111,324 square feet, or approximately 5.6% of the net rentable area. Burlington Coat Factory is a national department store retail chain which offers current, high quality, designer merchandise at discounted prices. Burlington Coat Factory stores feature coats, apparel, shoes, and This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 39 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAWGRASS MILLS - -------------------------------------------------------------------------------- accessories for family, baby clothes, furniture, toys, home decor items, and gifts. As of July 26, 2007, Burlington Coat Factory was rated "CCC+" (Fitch), "B3" (Moody's) and "B" (S&P). The Burlington Coat Factory lease expires in December 2008. The third largest tenant is JC Penney, occupying approximately 104,506 square feet or approximately 5.2% of the net rentable area. JC Penney Corporation, Inc., the wholly-owned operating subsidiary of JC Penney Company, Inc., is one of America's largest department store, catalog, and e-commerce retailers, employing approximately 15,100 people. The Company has a chain of about 1,035 JC Penney department stores in the US & Puerto Rico. As of July 26, 2007, JC Penney was rated "BBB" (Fitch), "Baa3" (Moody's) and "BBB--" (S&P). The JC Penney lease expires in June 2009. o MEZZANINE DEBT. The Borrower is permitted to incur future mezzanine indebtedness subject to certain conditions, but not limited to: (i) no event of default, (ii) combined LTV ratio of not more than 85%, (iii) combined DSCR of 1.05x or more and (iv) intercreditor agreement. o RELEASES. The related Mortgage Loan documents provide for the borrower's ability to get a release from the lien of the mortgage non-income producing portions of the property, subject but not limited to (i) no material adverse effect on value or operation, (ii) compliance with law, including, zoning, (iii) delivery of a REMIC opinion, and (iv) no breach of major leases or reciprocal easement agreements. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a lockbox account in the name of the borrowers and Sawgrass Mills Phase IV, L.L.C. for the sole and exclusive benefit of the mortgagee and its respective successors and assigns as secured parties. o MANAGEMENT. Simon Management Associates II, LLC, an affiliate of the borrowers, is the property manager for the Mortgaged Property securing the Sawgrass Mills Loan. Simon Management Associates II, LLC is an affiliated entity of Simon Property Group, Inc. ("Simon"). Simon, headquartered in Indianapolis, Indiana, is a self-administered and self-managed real estate investment trust. Through subsidiary partnerships, it is engaged primarily in the ownership, development, management, leasing, acquisition and expansion of income-producing, market dominant retail properties, primarily regional malls, Premium Outlet centers and community shopping centers. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 40 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- [5 PHOTOS OF ASHFORD HOSPITALITY POOL 6] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 41 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- [MAP OF ASHFORD HOSPITALITY POOL 6] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 42 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $260,980,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 7.2% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Ashford Hospitality Trust, Inc. TYPE OF SECURITY Various PARTIAL RELEASE* Yes MORTGAGE RATE 5.952% MATURITY DATE April 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 116 / 360 LOCKBOX Yes UP-FRONT RESERVES TAX Yes ENGINEERING $625,625 ONGOING ANNUAL RESERVES TAX Yes FF&E 4.0% prior year gross revenue ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $260,980,000 CUT-OFF DATE BALANCE/ROOM $247,374 CUT-OFF DATE LTV 78.5% MATURITY DATE LTV 73.4% UW DSCR ON NCF 1.43x - -------------------------------------------------------------------------------- * The Ashford Hospitality Pool 6 Loan allows for partial release subject to certain conditions including, but not limited to: (i) defeasance of the related Mortgage Loan in an amount equal to the then outstanding allocated loan amount, (ii) maintenance of certain financial covenants with respect to the remaining Mortgage Loans, and (iii) certain other conditions as specified in the related Mortgage Loan documents. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 3 LOCATION Various PROPERTY TYPE Hospitality -- Full Service SIZE (ROOMS) 1,055 OCCUPANCY AS OF TTM JUNE 15, 2007 69.4% YEAR BUILT / YEAR RENOVATED Various APPRAISED VALUE $332,600,000 PROPERTY MANAGEMENT Various UW ECONOMIC OCCUPANCY 74.4% UW REVENUES $78,735,669 UW TOTAL EXPENSES $49,467,479 UW NET OPERATING INCOME (NOI) $29,268,190 UW NET CASH FLOW (NCF) $26,647,419 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 43 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 SUMMARY - ----------------------------------------------------------------------------------------------------- YEAR ALLOCATED BUILT/ CUT-OFF DATE RELEASE PRICE SPECIFIC YEAR PROPERTY NAME BALANCE PERCENTAGE PROPERTY TYPE RENOVATED ROOMS - ----------------------------------------------------------------------------------------------------- Marriott -- Seattle, WA .......... $135,710,500 115% Full Service 2003 / NA 358 Marriott -- Plano, TX ............ 79,574,500 125% Full Service 2001 / 2003 404 Renaissance -- Tampa, FL ......... 45,695,000 115% Full Service 2004 / NA 293 ------------ ----- TOTAL/WEIGHTED AVERAGE ........... $260,980,000 1,055 ============ ===== - ----------------------------------------------------------------------------------------------------- ESTIMATED 2006 ------------------------------------------ ALLOCATED CUT-OFF DATE APPRAISED APPRAISAL BALANCE VALUE PER VALUATION OCCUPANCY ADR REVPAR PROPERTY NAME PER ROOM ROOM DATE PENETRATION* PENETRATION* PENETRATION* - ----------------------------------------------------------------------------------------------------------------- Marriott -- Seattle, WA .......... $379,080 $461,732 3/1/2007 102.7% 112.9% 115.4% Marriott -- Plano, TX ............ $196,967 $240,099 2/26/2007 100.5% 97.7% 98.2% Renaissance -- Tampa, FL ......... $155,956 $239,932 2/16/2007 97.7% 120.2% 118.7% TOTAL/WEIGHTED AVERAGE ........... $247,374 $315,261 100.5% 109.1% 109.7% - ----------------------------------------------------------------------------------------------------------------- * The above information is based on appraisals from HVS International. - ---------------------------------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 FINANCIAL PERFORMANCE SUMMARY - ---------------------------------------------------------------------------------------------------------- 2005 2006 --------------------------------- ---------------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - ---------------------------------------------------------------------------------------------------------- Marriott -- Plano, TX ........... 74.8% $125.06 $ 93.54 75.8% $142.98 $108.33 Marriott -- Seattle, WA ......... 72.7% $185.89 $135.14 74.4% $215.43 $160.29 Renaissance -- Tampa, FL ........ 76.2% $142.99 $108.96 75.3% $168.86 $127.21 AVERAGE ......................... 74.6% $151.31 $112.55 75.2% $175.76 $131.94 - ---------------------------------------------------------------------------------------------------------- TTM 6/15/07 UNDERWRITTEN ----------------------------------- ----------------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - ---------------------------------------------------------------------------------------------------------- Marriott -- Plano, TX ........... 74.3% $150.21 $111.65 74.8% $159.62 $119.43 Marriott -- Seattle, WA ......... 72.2% $220.42 $159.25 73.4% $224.40 $164.75 Renaissance -- Tampa, FL ........ 72.1% $178.35 $128.53 74.9% $185.92 $139.35 AVERAGE ......................... 72.9% $182.99 $133.14 74.4% $189.98 $141.18 - ---------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- COMPETITIVE SUMMARY -- MARRIOTT -- PLANO, TX - -------------------------------------------------------------------------------------------------------------------------------- ESTIMATED 2006* ----------------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - -------------------------------------------------------------------------------------------------------------------------------- Marriott -- Plano, TX (subject) ..... 404 74.6% $ 145.17 $ 108.33 100.5% 97.7% 98.2% Westin Stonebriar Resort ............ 301 75.0% $ 168.00 $ 126.00 101.1% 113.1% 114.2% Embassy Suites ...................... 330 73.0% $ 135.00 $ 98.55 98.4% 90.9% 89.3% ----- TOTAL/WEIGHTED AVERAGE .............. 1,035 74.2% $ 148.57 $ 110.35 100.0% 100.0% 100.0% ===== - -------------------------------------------------------------------------------------------------------------------------------- * The above information is based on the appraisal from HVS International dated March 30, 2007. - -------------------------------------------------------------------------------------------------------------------------------- COMPETITIVE SUMMARY -- MARRIOTT -- SEATTLE, WA - -------------------------------------------------------------------------------------------------------------------------------- ESTIMATED 2006* ----------------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - ------------------------------------------------------------------------------------------------------------------------------ Marriott -- Seattle, WA (subject) ... 358 74.4% $ 215.43 $ 160.29 102.7% 112.8% 115.4% Edgewater Hotel ..................... 223 71.0% $ 215.00 $ 152.65 98.0% 112.6% 109.9% Hilton Seattle Hotel ................ 237 74.0% $ 171.00 $ 126.54 102.1% 89.6% 91.1% Grand Hyatt Seattle Hotel ........... 425 79.0% $ 203.00 $ 160.37 109.0% 106.3% 115.5% W Hotel Seattle ..................... 426 70.0% $ 215.00 $ 150.50 96.6% 112.6% 108.4% Renaissance Madison Hotel Seattle ... 553 68.0% $ 146.00 $ 99.28 93.8% 76.5% 71.5% ----- TOTAL/WEIGHTED AVERAGE .............. 2,222 72.5% $ 190.91 $ 138.88 100.0% 100.0% 100.0% ===== - ------------------------------------------------------------------------------------------------------------------------------ * The above information is based on the appraisal from HVS International dated March 28, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 44 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- COMPETITIVE SUMMARY -- RENAISSANCE -- TAMPA, FL - -------------------------------------------------------------------------------------------------------------------------- ESTIMATED 2006* ------------------------------------------------------------------------ NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - -------------------------------------------------------------------------------------------------------------------------- Renaissance -- Tampa, FL (subject) .. 293 75.3% $168.86 $127.21 97.7% 120.2% 118.7% Hilton Westshore .................... 238 83.0% $124.00 $102.92 107.7% 88.3% 96.0% Wyndham ............................. 322 82.0% $105.00 $ 86.10 106.4% 74.7% 80.3% Sheraton Suites ..................... 259 76.0% $105.00 $ 79.80 98.7% 74.7% 74.5% Grand Hyatt ......................... 445 72.0% $177.00 $127.44 93.5% 126.0% 118.9% ----- $107.17 100.0% 100.0% 100.0% TOTAL/WEIGHTED AVERAGE .............. 1,557 77.0% $140.50 ===== - -------------------------------------------------------------------------------------------------------------------------- * The above information is based on the appraisal from HVS International dated March 23, 2007. ----------------------------------------------------------------- FACILITY SUMMARY -- MARRIOTT -- SEATTLE, WA ----------------------------------------------------------------- GUEST ROOMS NUMBER ----------------------------------------------------------------- King ............................................... 190 Double/Double ...................................... 155 Junior Suites ...................................... 10 Hospitality Suites ................................. 2 Presidential Suites ................................ 1 ------ TOTAL ............................................ 358 ====== FOOD AND BEVERAGE SEATING ----------------------------------------------------------------- Fish Club Restaurant & Bar by Todd English ......... 178 Lobby Piano Bar .................................... 50 Trolley Cafe & Gift Shop ........................... 16 ------ TOTAL ............................................ 244 ====== MEETING AND BANQUET SPACE SQUARE FEET ----------------------------------------------------------------- Grand Pacific Ballroom ............................. 7,937 Harbor Room ........................................ 994 Seaport Room ....................................... 994 Executive Boardroom ................................ 686 Maritime Room ...................................... 354 ------ TOTAL ............................................ 10,965 ====== AMENITIES ----------------------------------------------------------------- Indoor/Outdoor Swimming Pool Indoor Whirlpool Gift Shop Business Center Fitness Room Guest Laundry Valet Parking ----------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 45 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------- FACILITY SUMMARY -- MARRIOTT -- PLANO, TX - ----------------------------------------------------------------- GUEST ROOMS NUMBER - ----------------------------------------------------------------- King ............................................... 219 Queen/Queen ........................................ 136 One Bedroom Suites ................................. 42 Conference Suites .................................. 3 Presidential Suites ................................ 4 ------ TOTAL ............................................ 404 ====== FOOD AND BEVERAGE SEATING - ----------------------------------------------------------------- Chaddicks .......................................... 60 Copper Bottom ...................................... 120 ------ TOTAL ............................................ 180 ====== MEETING AND BANQUET SPACE SQUARE FEET - ----------------------------------------------------------------- Brazos ............................................. 368 Colorado Amphitheater .............................. 1,880 Colorado Foyer ..................................... 624 Pecos .............................................. 920 Red River .......................................... 575 Rio Grade A ........................................ 520 Rio Grade B ........................................ 520 Sabine A ........................................... 520 Sabine B ........................................... 520 San Antonio ........................................ 500 San Jacinto ........................................ 1,880 Comal .............................................. 380 Guadalupe .......................................... 900 Suite 300 .......................................... 360 Suite 400 .......................................... 360 Suite 500 .......................................... 360 Trinity I .......................................... 5,330 Trinity II ......................................... 4,264 Trinity III ........................................ 2,132 Trinity IV ......................................... 2,132 Trinity Foyer ...................................... 6,642 ------ TOTAL ............................................ 31,687 ====== AMENITIES - ----------------------------------------------------------------- Outdoor Swimming Pool Outdoor Hot Tub Exercise Room Gift Shop Business Center - ----------------------------------------------------------------- - ----------------------------------------------------------------- FACILITY SUMMARY -- RENAISSANCE -- TAMPA, FL - ----------------------------------------------------------------- GUEST ROOMS NUMBER - ----------------------------------------------------------------- King ............................................... 173 Queen/Queen ........................................ 114 One-Bedroom Suites ................................. 3 Hospitality Suites ................................. 2 Presidential Suites ................................ 1 ------ TOTAL ............................................ 293 ====== FOOD AND BEVERAGE SEATING - ----------------------------------------------------------------- Pelagia ............................................ 80 Pelagia Bar ........................................ 30 Gabriella's ........................................ 41 ------ TOTAL ............................................ 151 ====== MEETING AND BANQUET SPACE SQUARE FEET - ----------------------------------------------------------------- Costa del Sol Ballroom (8 sections) ................ 7,883 Livorno ............................................ 614 Marbella ........................................... 614 Genoa .............................................. 1,315 Kalamata ........................................... 1,310 Sergio Boardroom ................................... 458 ------ TOTAL ............................................ 12,194 ====== AMENITIES - ----------------------------------------------------------------- Outdoor Swimming Pool Outdoor Hot Tub Business Center Exercise Room Gift Shop - ----------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 46 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL PERFORMANCE SUMMARY -- MARRIOTT -- SEATTLE, WA - -------------------------------------------------------------------------------- PERIOD OCCUPANCY ADR REVPAR - -------------------------------------------------------------------------------- 2005 ............................... 72.7% $185.89 $135.14 2006 ............................... 74.4% $215.43 $160.29 T 12 Through June 15, 2007 ......... 72.2% $220.42 $159.25 UW ................................. 73.4% $224.40 $164.75 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL PERFORMANCE SUMMARY -- MARRIOTT -- PLANO, TX - -------------------------------------------------------------------------------- PERIOD OCCUPANCY ADR REVPAR - -------------------------------------------------------------------------------- 2005 ............................... 74.8% $125.06 $ 93.54 2006 ............................... 75.8% $142.98 $108.33 T 12 Through June 15, 2007 ......... 74.3% $150.21 $111.65 UW . . . . ......................... 74.8% $159.62 $119.43 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FINANCIAL PERFORMANCE SUMMARY -- RENAISSANCE -- TAMPA, FL - -------------------------------------------------------------------------------- PERIOD OCCUPANCY ADR REVPAR - -------------------------------------------------------------------------------- 2005 ............................... 76.2% $142.99 $108.96 2006 ............................... 75.3% $168.86 $127.21 T 12 Through June 15, 2007 ......... 72.1% $178.35 $128.53 UW ................................. 74.9% $185.92 $139.35 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 47 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Ashford Hospitality Pool 6 Loan") is secured by a first mortgage encumbering the borrowers' fee or leasehold interests in three full service hotels located in Florida, Texas and Washington. The Ashford Hospitality Pool 6 Loan represents approximately 7.2% of the Cut-Off Date Pool Balance. The Ashford Hospitality Pool 6 Loan was originated on April 11, 2007, and has a principal balance as of the Cut-Off Date of $260,980,000. The Ashford Hospitality Pool 6 Loan provides for interest-only payments for the first 60 months of its term, and, thereafter, fixed monthly payments of principal and interest. The Ashford Hospitality Pool 6 Loan has a remaining term of 116 months and matures on April 11, 2017. The Ashford Hospitality Pool 6 Loan may be prepaid on or after March 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWERS. The borrowers are Ashford Plano-M LP, Ashford Seattle Waterfront LP and Ashford Tampa International Hotel, LP, all special purpose entities. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Ashford Hospitality Pool 6 Loan. The sponsor of the borrowers is Ashford Hospitality Trust, Inc. ("AHT"). AHT, founded in 1968, is a self-administered real estate investment trust listed on the New York Stock Exchange that invests in the hospitality industry. AHT's management team has experience in sourcing, underwriting, operating, repositioning, developing, selling and financing a wide variety of lodging investments. As of December 31, 2006, AHT owned approximately 81 hotel properties in 26 states with approximately 15,492 rooms and an office building. The portfolio also includes 24 full-service, upscale hotels containing approximately 8,069 rooms, as well as 27 premium select-service hotels consisting of approximately 5,571 rooms in 31 markets throughout 18 states, the District of Columbia, and Canada. o THE PROPERTIES. The Marriott -- Plano, TX Mortgaged Property, constructed in 2001 and renovated in 2003, is a 6-story full service hotel containing approximately 404 rooms situated on approximately 4.2 acres. The Mortgaged Property is located in Plano, Texas. The Mortgaged Property features a restaurant, a bar and lounge, approximately 31,687 square feet of meeting space, an exercise room, a swimming pool and whirlpool and a business center. As of the trailing 12-month period ending June 15, 2007, the occupancy rate for the Marriott -- Plano, TX Mortgaged Property was approximately 73.2%. The Marriott -- Seattle, WA Mortgaged Property, constructed in 2003, is an 8-story full service hotel containing approximately 358 rooms situated on approximately 1.5 acres. The Mortgaged Property is located on Elliott Bay (Puget Sound) in downtown Seattle, Washington. The Mortgaged Property features several restaurants, lounge, approximately 10,965 square feet of meeting space, an exercise room, outdoor and outdoor swimming pool and whirlpool and a business center. As of the trailing 12-month period ending June 15, 2007, the occupancy rate for the Marriott -- Seattle, WA Mortgaged Property was approximately 68.1%. The Renaissance Tampa -- FL Mortgaged Property, constructed in 2004, is an 8-story full service hotel containing approximately 293 rooms situated on approximately 1.8 acres. The Mortgaged Property is located at International Plaza in the Westshore area of Tampa, Florida. The Mortgaged Property features a restaurant and lounge, approximately 12,194 square feet of meeting space, a fitness center, outdoor swimming pool and whirlpool, a business center and a gift shop. As of the trailing 12-month period ending June 15, 2007, the occupancy rate for the Renaissance -- Tampa, FL Mortgaged Property was approximately 65.7%. o LOCKBOX ACCOUNT. All revenue from the Mortgaged Properties will be deposited into a mortgagor-designated lockbox. o RELEASES. The release of an individual Mortgaged Property will be permitted subject to the satisfaction of certain conditions as set forth in the related Mortgage Loan documents including, but not limited to, payment of an amount equal to the greater of (a) the amount which is necessary to defease a portion of the loan amount equal to the applicable Release Price Percentage, multiplied by the allocated loan amount with respect to the cross-collateralized property being released and (b) an amount needed in order to achieve the applicable required Debt Yield (as defined in the related Mortgage Loan documents). This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 48 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 6 - -------------------------------------------------------------------------------- o MANAGEMENT. Marriott International, Inc. is the sponsor of Marriott -- Seattle, WA Mortgaged Property. Marriott Hotel Services, Inc., an affiliate of Marriott International, Inc., is the property manager for the Marriott -- Plano, TX Mortgaged Property and Marriott -- Seattle, WA Mortgaged Property, both of which secure the Ashford Hospitality Pool 6 Loan. Established in 1971 and headquartered in Washington, D.C., Marriott International, Inc. engages in the operation and franchising of hotels and related lodging facilities worldwide. It operates in Full Service Lodging, Select Service Lodging, Extended Stay Lodging, Timeshare, and Synthetic Fuel segments. As of January 3, 2007, the company operated or franchised approximately 2,800 lodging properties. The Renaissance -- Tampa, FL Mortgaged Property is managed by Renaissance Hotel Management Company, LLC and also secures the Ashford Hospitality Pool 6 Loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 49 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 50 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- [4 PHOTOS OF INDEPENDENCE MALL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 51 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- [MAP OF INDEPENDENCE MALL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 52 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- [MAP OF INDEPENDENCE MALL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 53 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Nomura CUT-OFF DATE BALANCE $200,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 5.6% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Simon Property Group, L.P. TYPE OF SECURITY Fee PARTIAL RELEASE Yes MORTGAGE RATE 5.943% MATURITY DATE July 10, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 119 / IO LOCKBOX Yes UP-FRONT RESERVES None ONGOING ANNUAL RESERVES INSURANCE Springing ADDITIONAL FINANCING* None CUT-OFF DATE BALANCE $200,000,000 CUT-OFF DATE BALANCE/SF $503 CUT-OFF DATE LTV 80.0% MATURITY DATE LTV 80.0% UW DSCR ON NCF 1.22x - -------------------------------------------------------------------------------- * Future mezzanine debt is permitted subject to: (i) combined LTV ratio shall not exceed 80.0%, (ii) aggregate DSC ratio shall not be less than 1.05x, (iii) an intercreditor agreement acceptable to the mortgagee, and (iv) other conditions as specified in the related Mortgage Loan documents. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Independence, MO PROPERTY TYPE Retail - Anchored SIZE (SF) 398,009 OCCUPANCY AS OF MAY 30, 2007 98.5% YEAR BUILT / YEAR RENOVATED 1974 / 1988 APPRAISED VALUE $250,000,000 PROPERTY MANAGEMENT Simon Management Associates, LLC UW ECONOMIC OCCUPANCY 95.9% UW REVENUES $21,710,304 UW TOTAL EXPENSES $6,425,163 UW NET OPERATING INCOME (NOI) $15,285,141 UW NET CASH FLOW (NCF) $14,733,972 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 54 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------ TENANT SUMMARY - ------------------------------------------------------------------------------ NET % OF NET RATINGS(1) RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - ------------------------------------------------------------------------------ ANCHOR TENANTS Macy's(2) ........................ BBB/Baa2/BBB 188,802 7.7% Dillard's ........................ BB/B1/BB 174,500 Sears(3) ......................... BB/Ba1/BB+ 166,783 7.0 Circuit City ..................... NR/NR/NR 134,714 Independence Plaza ............... NR/NR/NR 31,464 --------- ----- TOTAL ANCHOR TENANTS ............. 696,263 14.7% MAJOR TENANTS Old Navy ......................... BB+/Ba1/BB+ 17,800 4.5% Victoria's Secret ................ NR/NR/NR 11,029 2.8 Abercrombie & Fitch .............. NR/NR/NR 9,500 2.4 New York & Co. ................... NR/NR/NR 9,350 2.3 The Gap .......................... BB+/Ba1/BB+ 9,139 2.3 --------- ----- TOTAL MAJOR TENANTS .............. 56,818 14.3% NON-MAJOR TENANTS ................. 276,628 69.5 --------- ----- OCCUPIED TOTAL .................... 392,069 98.5% VACANT SPACE ...................... 5,940 1.5 --------- ----- COLLATERAL PROPERTY TOTAL ......... 398,009 100.0% ========= ===== TOTAL CENTER GLA .................. 1,035,649 ========= - ------------------------------------------------------------------------------ % OF TOTAL BASE ANNUAL ANNUAL BASE LEASE TENANT RENT PSF BASE RENT RENT EXPIRATION - ----------------------------------------------------------------------------------------------------- ANCHOR TENANTS Macy's(2) ........................ $ 4.98 $ 153,459 1.3% December 2011 Dillard's ........................ Anchor Owned - Not part of collateral Sears(3) ......................... $ 5.50 153,021 1.3 January 2009 Circuit City ..................... Anchor Owned - Not part of collateral Independence Plaza ............... Anchor Owned - Not part of collateral ------------------------------------- TOTAL ANCHOR TENANTS ............. $ 306,480 2.5% MAJOR TENANTS Old Navy ......................... $22.46 $ 399,720 3.3% January 2009 Victoria's Secret ................ $35.00 386,015 3.2 January 2017 Abercrombie & Fitch .............. $21.00 199,500 1.6 January 2011 New York & Co. ................... $26.00 243,100 2.0 January 2016 The Gap .......................... $14.81 135,375 1.1 May 2010 ------ ----------- ----- TOTAL MAJOR TENANTS .............. $24.00 $ 1,363,710 11.2% NON-MAJOR TENANTS ................. $38.12 10,544,111 86.3 ------ ----------- ----- OCCUPIED TOTAL .................... $31.15 $12,214,301 100.0% =========== ===== VACANT SPACE ...................... COLLATERAL PROPERTY TOTAL ......... TOTAL CENTER GLA .................. - --------------------------------------------------------------------------------------------- (1) Certain ratings are those of the parent company whether or not the parent company guarantees the lease. (2) Macy's occupies approximately 188,802 square feet, and approximately 158,001 square feet of its space is excluded from the collateral of the loan. Macy's owns its own pad, comprised of approximately 158,001 square feet, and does not pay base rent; however, the tenant does pay $4.98/sf/yr for approximately 30,801 square feet of its space owned by the borrower. (3) Sears occupies approximately 166,783 square feet, and 138,961 square feet of its space is excluded from the collateral of the loan. Sears owns its own pad, comprised of approximately 138,961 square feet, and does not pay base rent; however, the tenant does pay $5.50/sf/yr for approximately 27,822 square feet of its space owned by the borrower. - ------------------------------------------------------------------------------------------------------------------------------------ INDEPENDENCE MALL LEASE EXPIRATION SCHEDULE - ------------------------------------------------------------------------------------------------------------------------------------ # OF LEASES WA BASE RENT / SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF SF % OF BASE RENT CUMULATIVE % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - ------------------------------------------------------------------------------------------------------------------------------------ 2007 5 $ 24.45 13,375 3.4% 3.4% 2.7% 2.7% 2008 9 $ 32.97 17,192 4.3% 7.7% 4.6% 7.3% 2009 15 $ 21.02 66,576 16.7% 24.4% 11.5% 18.8% 2010 21 $ 31.38 49,063 12.3% 36.7% 12.6% 31.4% 2011 9 $ 12.26 42,320 10.6% 47.4% 4.2% 35.6% 2012 9 $ 33.69 24,077 6.0% 53.4% 6.6% 42.3% 2013 16 $ 34.93 48,172 12.1% 65.5% 13.8% 56.0% 2014 13 $ 34.42 40,279 10.1% 75.6% 11.4% 67.4% 2015 8 $ 35.29 26,242 6.6% 82.2% 7.6% 75.0% 2016 8 $ 39.78 19,459 4.9% 87.1% 6.3% 81.3% 2017 7 $ 52.61 31,519 7.9% 95.0% 13.6% 94.9% Thereafter 5 $ 45.21 13,795 3.5% 98.5% 5.1% 100.0% Vacant 0 NA 5,940 1.5% 100.0% 0.0% 100.0% - ------------------------------------------------------------------------------------------------------------------------------------ * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 55 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Independence Mall Loan") is secured by the borrower's fee interest encumbering an anchored retail property located in Independence, Missouri. The Independence Mall Loan represents approximately 5.6% of the Cut-Off Date Pool Balance. The Independence Mall Loan was originated on July 10, 2007, and has a principal balance as of the Cut-Off Date of $200,000,000. The Independence Mall Loan provides for interest-only payments for the entire loan term. The Independence Mall Loan has a remaining term of 119 months and matures on July 10, 2017. The Independence Mall Loan may be prepaid on or after October 10, 2016, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is SPG Independence Center, LLC, a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the Independence Mall Loan. The sponsor of the borrower is Simon Property Group, L.P. ("Simon"). Simon is a self-administered and self-managed Real Estate Investment Trust ("REIT") which, together with its affiliated management company, currently owns or has an interest in 285 properties in the United States, which consist of 171 regional malls, 68 community/lifestyle centers, 36 Premium Outlet centers and 10 other shopping centers or outlet centers in 38 states and Puerto Rico. Simon also owns interests in four parcels of land held in the United States for future development. Internationally, Simon has ownership interests in 53 European shopping centers (France, Italy and Poland); five Premium Outlet centers in Japan; and one Premium Outlet center in Mexico. Simon has also begun construction on a Premium Outlet center in South Korea and, through a joint venture arrangement, Simon has ownership interests in four shopping centers under construction in China. Additionally, on March 29, 2007, SPG-FCM Ventures, LLC ("SPG-FCM"), a joint venture between an entity owned 50% by the Operating Partnership and 50% by funds managed by Farallon Capital Management, L.L.C. ("Farallon"), successfully completed a tender offer to acquire all of the outstanding common stock of The Mills Corporation. As of the end of March 31, 2007, SPG-FCM owned 75.38% of the outstanding common stock of The Mills Corporation. As a result, Simon now holds an interest in an additional 38 properties located throughout the United States, including 18 regional malls, 3 community/lifestyle centers, and 17 other retail properties. Simon Property Group, Inc. has a current rating of A-/A- (Fitch/S&P). o THE PROPERTY. The Mortgaged Property is an approximately 398,009 square foot, 3-story anchored retail property, situated on approximately 27.1 acres. The Mortgaged Property was constructed in 1974 and most recently renovated in 1988. The Mortgaged Property is located in Independence, Missouri. As of May 30, 2007, the occupancy rate for the Mortgaged Property securing the Independence Mall Loan was approximately 98.5%. The largest tenant is Macy's (NYSE: "FD"), currently occupying approximately 188,802 square feet, of which approximately 30,801 square feet, or approximately 7.7% of the net rentable area, is part of the collateral. Macy's is owned by Federated Department Stores, Inc. Federated Department Stores, Inc. operates retail stores that sell a range of merchandise, including men's, women's, and children's apparel; and accessories, cosmetics, home furnishings, and other consumer goods. As of February 3, 2007, the company operated approximately 850 retail stores in 45 states, the District of Columbia, Guam, and Puerto Rico under the names "Macy's" and "Bloomingdale's". As of July 26, 2007, Macy's was rated "BBB" (Fitch), "Baa2" (Moody's) and "BBB" (S&P). The Macy's lease expires in December 2011. The second largest tenant is Sears, currently occupying approximately 166,783 square feet, of which approximately 27,822 square feet, or approximately 7.0% of the net rentable area, is part of the collateral. Sears Holdings Corporation, through its subsidiaries, operates as a broad-line retailer in the United States and Canada. The company operates through three segments: Kmart, Sears Domestic, and Sears Canada. As of July 26, 2007, Sears was rated "BB" (Fitch), "Ba1" (Moody's) and "BB+" (S&P). The Sears lease expires in January 2009. The third largest tenant is Old Navy, occupying approximately 17,800 square feet or approximately 4.5% of the net rentable area. As of July 26, 2007, The Gap, which is its parent company of Old Navy, was rated "BB+" (Fitch), "Ba1" (Moody's) and "BB+" (S&P). The Old Navy lease expires in January 2009. o RELEASES. The related Mortgage Loan documents provide for the borrower's ability to obtain the release from the lien of the non-income producing portions of the Mortgaged Property and air rights with respect to the Mortgaged Property, subject to (i) no material adverse effect on value or operation, (ii) compliance with law, including zoning, (iii) delivery of a REMIC opinion, (iv) no breach of major leases or reciprocal easement agreements. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 56 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- INDEPENDENCE MALL - -------------------------------------------------------------------------------- o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a lockbox account in the name of the borrower for the sole and exclusive benefit of the mortgagee and its successors and assigns as secured parties. o MANAGEMENT. Simon Management Associates, LLC, an affiliate of the borrower, is the property manager for the Mortgaged Property securing the Independence Mall Loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 57 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 58 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- [5 PHOTOS OF POTOMAC MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 59 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- [MAP OF POTOMAC MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 60 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- [MAP OF POTOMAC MILLS] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 61 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $164,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 4.6% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Simon Property Group, Inc. and Farrallon Capital Management TYPE OF SECURITY Fee PARTIAL RELEASE(1) Yes MORTGAGE RATE 5.8295% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 119 / IO LOCKBOX Yes UP-FRONT RESERVES None ONGOING ANNUAL RESERVES None ADDITIONAL FINANCING(2) Pari Passu Debt $246,000,000 PARI PASSU NOTES(3) --------------------- CUT-OFF DATE BALANCE $410,000,000 CUT-OFF DATE BALANCE/SF $274 CUT-OFF DATE LTV 78.8% MATURITY DATE LTV 78.8% UW DSCR ON NCF 1.17x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Woodbridge, VA PROPERTY TYPE Retail - Anchored SIZE (SF)(4) 1,498,570 OCCUPANCY AS OF MAY 1, 2007(4) 97.8% YEAR BUILT / YEAR RENOVATED 1989 / NA APPRAISED VALUE $520,000,000 PROPERTY MANAGEMENT Simon Management Associates II, LLC UW ECONOMIC OCCUPANCY 99.1% UW REVENUES $41,558,635 UW TOTAL EXPENSES $12,650,098 UW NET OPERATING INCOME (NOI) $28,908,537 UW NET CASH FLOW (NCF) $27,857,837 - -------------------------------------------------------------------------------- (1) Non-income producing parcels. (2) Future mezzanine debt is permitted subject to certain conditions including, but not limited to: (i) an aggregate DSC ratio of no less than 1.05x, (ii) the aggregate LTV ratio shall not exceed 85.0% and (iii) certain other conditions as specified in the related Mortgage Loan documents. (3) LTV ratios, DSC ratio and Cut-Off Date Balance/SF were derived from the aggregate indebtedness of, or scheduled debt service due in conection with, the Potomac Mills Loan and the Potomac Mills Pari Passu Companion Loan. (4) The square footage and occupancy excludes the Burlington Coat Factory (anchor owned). This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 62 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- TENANT SUMMARY - ------------------------------------------------------------------------------------- NET % OF NET RATINGS(*) RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - ------------------------------------------------------------------------------------- ANCHOR TENANTS -- ANCHOR OWNED Burlington Coat Factory ............... CCC+/B3/B 119,511 ---------- TOTAL ANCHOR OWNED .................... 119,511 ========== ANCHOR TENANTS -- COLLATERAL Costco (Ground Lease) ................. AA-/A2/A 148,663 9.9% JCPenney .............................. BBB/Baa3/BBB- 107,021 7.1% AMC Theatres .......................... B/B2/NR 75,274 5.0% Marshalls ............................. NR/A3/A 61,763 4.1% The Sports Authority .................. NR/NR/B 42,212 2.8% Nordstrom Rack ........................ A-/Baa1/A 41,321 2.8% T.J. Maxx ............................. NR/A3/A 40,857 2.7% ---------- ----- TOTAL ANCHOR TENANTS -- COLLATERAL 517,111 34.5% TOP 5 NON-ANCHOR TENANTS OFF 5th Saks Fifth Avenue Outlet ...... B/B3/B+ 38,210 2.5% G Street Fabrics ...................... NR/NR/NR 36,522 2.4% Steve & Barry's University Sportswear ........................... NR/NR/NR 35,222 2.4% Linens 'n Things ...................... B-/B3/B 33,743 2.3% Sears ................................. BB/Ba1/BB+ 33,103 2.2% ---------- ----- TOTAL TOP NON-ANCHOR TENANTS .......... 176,800 11.8% NON-MAJOR TENANTS ...................... 771,235 51.5 ---------- ----- OCCUPIED COLLATERAL TOTAL .............. 1,465,146 97.8% ========== ===== IN-LINE VACANT SPACE ................... 33,424 2.2 COLLATERAL TOTAL ....................... 1,498,570 100.0% ========== ===== PROPERTY TOTAL ......................... 1,618,081 ========== - ------------------------------------------------------------------------------------- % OF TOTAL BASE ANNUAL ANNUAL BASE LEASE TENANT RENT PSF BASE RENT RENT EXPIRATION - -------------------------------------------------------------------------------------------------- ANCHOR TENANTS -- ANCHOR OWNED Burlington Coat Factory ............... ANCHORED OWNED NOT PART OF COLLATERAL TOTAL ANCHOR OWNED .................... ANCHOR TENANTS -- COLLATERAL Costco (Ground Lease) ................. $ 3.59 $ 534,000 2.1% June 2031 JCPenney .............................. $ 6.19 $ 662,480 2.6% March 2008 AMC Theatres .......................... $ 20.00 $ 1,505,460 5.9% February 2019 Marshalls ............................. $ 8.75 $ 540,428 2.1% January 2009 The Sports Authority .................. $ 13.00 $ 548,756 2.2% February 2010 Nordstrom Rack ........................ $ 8.25 $ 340,898 1.3% September 2010 T.J. Maxx ............................. $ 9.50 $ 388,142 1.5% May 2009 ------------ ----- TOTAL ANCHOR TENANTS -- COLLATERAL $ 8.74 $ 4,520,164 17.8% TOP 5 NON-ANCHOR TENANTS OFF 5th Saks Fifth Avenue Outlet ...... $ 9.83 $ 375,604 1.5% October 2007 G Street Fabrics ...................... $ 8.25 $ 301,307 1.2% July 2017 Steve & Barry's University Sportswear ........................... $ 9.17 $ 322,986 1.3% January 2011 Linens 'n Things ...................... $ 11.36 $ 383,457 1.5% September 2010 Sears ................................. $ 8.97 $ 297,072 1.2% June 2009 ------------ ----- TOTAL TOP NON-ANCHOR TENANTS .......... $ 9.50 $ 1,680,426 6.6% NON-MAJOR TENANTS ...................... $ 24.91 19,214,230 75.6 ------------ ----- OCCUPIED COLLATERAL TOTAL .............. $ 17.35 $ 25,414,820 100.0% ============ ===== IN-LINE VACANT SPACE ................... COLLATERAL TOTAL ....................... PROPERTY TOTAL ......................... - -------------------------------------------------------------------------------------------------- (*) Certain ratings are those of the parent whether or not the parent guarantees the lease. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 63 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ LEASE EXPIRATION SCHEDULE - ------------------------------------------------------------------------------------------------------------------------------------ # OF LEASES WA BASE RENT / SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF SF % OF BASE RENT CUMULATIVE % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - ------------------------------------------------------------------------------------------------------------------------------------ 2007 13 $ 12.83 62,884 4.2% 4.2% 3.2% 3.2% 2008 30 $ 13.21 229,580 15.3% 19.5% 11.9% 15.1% 2009 21 $ 14.62 212,283 14.2% 33.7% 12.2% 27.3% 2010 16 $ 16.18 163,962 10.9% 44.6% 10.4% 37.8% 2011 24 $ 20.75 148,416 9.9% 54.5% 12.1% 49.9% 2012 15 $ 28.32 44,852 3.0% 57.5% 5.0% 54.9% 2013 22 $ 29.01 83,281 5.6% 63.1% 9.5% 64.4% 2014 12 $ 23.34 56,045 3.7% 66.8% 5.1% 69.5% 2015 19 $ 26.59 76,567 5.1% 71.9% 8.0% 77.5% 2016 16 $ 27.28 73,233 4.9% 76.8% 7.9% 85.4% 2017 11 $ 19.67 77,908 5.2% 82.0% 6.0% 91.4% Thereafter 4 $ 9.23 236,135 15.8% 97.8% 8.6% 100.0% Vacant 0 N/A 33,424 2.2% 100.0% 0.0% 100.0% - ------------------------------------------------------------------------------------------------------------------------------------ * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 64 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- POTOMAC MILLS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Potomac Mills Loan") is secured by a first mortgage encumbering a retail anchored regional mall consisting of approximately 1,498,570 square feet located in Woodbridge, Virginia. The Potomac Mills Loan represents approximately 4.6% of the Cut-Off Date Pool Balance. The Potomac Mills Loan was originated on June 15, 2007, and has a principal balance as of the Cut-Off Date of $164,000,000. The Potomac Mills Loan, which is evidenced by a pari passu note, dated June 15, 2007, is a portion of a whole loan with an original principal balance of $410,000,000. The other loan related to the Potomac Mills Loan is evidenced by a separate pari passu note, dated June 15, 2007 (the "Potomac Mills Pari Passu Companion Loan" and together with the Potomac Mills Loan, the "Potomac Mills Whole Loan"), with an original principal balance of $246,000,000. The Potomac Mills Pari Passu Companion Loan will not be an asset of the Trust Fund. The Potomac Mills Loan and Potomac Mills Pari Passu Companion Loan are governed by an intercreditor and servicing agreement and will be serviced pursuant to the terms of the pooling and servicing agreement as described under "DESCRIPTION OF THE MORTGAGE POOL--Co-Lenders" in the Prospectus Supplement. The Potomac Mills Loan provides for interest-only payments for its entire loan term. The Potomac Mills Loan has a remaining term of 119 months and matures on July 11, 2017. The Potomac Mills Loan may be prepaid on or after October 11, 2016, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWERS. The borrower is Mall at Potomac Mills, LLC, a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the Potomac Mills Pool Loan. The principal of the borrowers is SPG -- FCM Ventures ("SPG - FCM"), which is a joint venture of Simon Property Group, Inc. ("Simon") and Farallon Capital Management, L.L.C. ("Farallon"). SPG -- FCM successfully completed a tender offer to acquire all of the outstanding common stock of The Mills Corporation. As of March 31, 2007, SPG-FCM owned approximately 75.38% of the outstanding common stock of The Mills Corporation. Simon is a self-administered and self-managed Real Estate Investment Trust (REIT) which, together with its affiliated management company, currently owns or has an interest in 285 properties in the United States, which consist of 171 regional malls, 68 community/lifestyle centers, 36 Premium Outlet centers and 10 other shopping centers or outlet centers in 38 states and Puerto Rico. Internationally, Simon has ownership interests in 53 European shopping centers (France, Italy and Poland); five outlet centers in Japan; and one outlet center in Mexico. As a result of The Mills Corporation acquisition, Simon now holds an interest in an additional 38 properties located throughout the United States, including 18 regional malls, 3 community/lifestyle centers, and 17 other retail properties. As of July 31, 2007, Simon Property Group, Inc. was rated "A-" (Fitch) and "A-" (S&P). Farallon is a global investment management company based in San Francisco that manages discretionary equity capital of more than $26 billion, largely from institutional investors such as university endowments, foundations, and pension plans. Farallon invests in public and private debt and equity securities and makes direct investments in private companies and real estate. Farallon invests in real estate across most asset classes around the world, including in the United States, Europe, Latin America and India. o THE PROPERTIES. The Mortgaged Property consists of a retail anchored regional mall, which in the aggregate comprise approximately 1,498,570 square feet, situated on approximately 133.0 acres. The Mortgaged Property, constructed in 1989, is located in Woodbridge, Virginia. As of May 1, 2007, the occupancy rate for the Mortgaged Property securing the Potomac Mills Loan was approximately 97.8%. The largest tenant is Costco Wholesale ("Costco"), currently occupying 148,663 square feet, or approximately 9.9% of the net rentable area. Costco is a large, discount warehouse retailer, catering to small-to-medium-sized businesses as well as individuals. Costco operates approximately 377 stores across the United States and Puerto Rico, as well as numerous international locations. As of July 30, 2007, Costco was rate "AA-" (Fitch), "A2" (Moody's) and "A" (S&P). The Costco lease expires in June 2031. The second largest tenant is JCPenney, currently occupying approximately 107,021 square feet, or approximately 7.1% of the net rentable area. JCPenney is a large retailer and operates one of the largest general merchandise catalog businesses. JCPenney operates approximately 1,033 department stores throughout the United States and Puerto Rico. As of July 23, 2007, JCPenney was rated "BBB" (Fitch), "Baa3" (Moody's) and "BBB-" (S&P). The JCPenney lease expires in March 2008. The third largest tenant is AMC Theatres, currently occupying approximately 75,274 square feet, or approximately 5.0% of the net rentable area. AMC Theatres is a leading theater chain in the United States, operating approximately 382 theaters with approximately 5,340 screens in the United States, Canada, France, Hong Kong, Japan, Portugal, Spain and the United Kingdom. As of July 23, 2007, AMC Theatres was rated "B" (Fitch) and "B2" (Moody's). The AMC Theatres lease expires in February 2019. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a mortgagor-designated lockbox account. o MANAGEMENT. Simon Management Associates II, LLC, an affiliate of one of the sponsors, is the property manager for the Mortgaged Property securing the Potomac Mills Loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 65 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 66 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- [4 PHOTOS OF THREE BOROUGH POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 67 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- [MAP OF THREE BOROUGH POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 68 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE $133,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 3.7% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSORS Normandy Real Estate Fund, L.P.; Barclays Investment Holding Inc.; Westbrook Real Estate Fund VI, L.P.; Vantage Investors I LLC; David Kramer TYPE OF SECURITY Fee PARTIAL RELEASE(1) Yes MORTGAGE RATE 5.785% MATURITY DATE May 1, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 57 / IO LOCKBOX Yes UP-FRONT RESERVES TAX / INSURANCE Yes VALUE ENHANCEMENT(2) $13,400,000 ENVIRONMENTAL(3) $540,000 ONGOING ANNUAL RESERVES TAX / INSURANCE(4) Yes/Yes REPLACEMENT(5) Yes ADDITIONAL FINANCING(6) Second Lien $25,000 TOTAL DEBT ----------------- CUT-OFF DATE BALANCE $133,000,000 CUT-OFF DATE BALANCE / UNIT $80,802 CUT-OFF DATE LTV(7) 79.0% MATURITY DATE LTV(7) 79.0% UW DSCR ON NCF 1.29x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 42 LOCATION New York, NY PROPERTY TYPE Multifamily-Conventional SIZE (UNITS)(8) 1,646 OCCUPANCY AS OF JUNE 18, 2007(8) 96.3% YEAR BUILT / YEAR RENOVATED Various / Various APPRAISED VALUE(9) $151,400,000 PROPERTY MANAGEMENT Colonial Management Group, LLC UW ECONOMIC OCCUPANCY 96.1% UW REVENUES $17,970,768 UW TOTAL EXPENSES $7,489,818 UW NET OPERATING INCOME (NOI) $10,480,950 UW NET CASH FLOW (NCF)(10) $10,068,950 - -------------------------------------------------------------------------------- (1) The Three Borough Pool Loan allows for partial release of individual Mortgaged Properties under certain circumstances. See "Release" below. (2) The Value Enhancement Reserve was funded at origination of the Three Borough Pool Loan to pay for unit improvements, tenant buyout costs and capital expenditures. See "Value Enhancement Reserve" below. (3) An Environmental Reserve was established at origination for remediation of certain local environmental law violations at the Mortgaged Properties. (4) Monthly deposits for taxes in an amount equal to 1/12th of the amount that the mortgagee estimates will be payable during the next twelve months for taxes are required to be made. For 2007, the borrower is required to make monthly deposits of $204,000 for taxes. In addition, monthly deposits in an amount equal to 1/12th of the annual insurance premiums estimated to be due by mortgagee are required to be made (unless an acceptable blanket or umbrella policy is in place and mortgagee has elected not to collect this reserve). (5) Monthly deposits to the Replacement Reserve are calculated based on 1/12th of $250 per residential unit per year. With respect to the residential units at Mortgaged Properties that are not subject to HAP contracts, the Replacement Reserve may be waived through and including May 1, 2010, if certain minimum balances are maintained in the Value Enhancement Reserve. After May 1, 2010, a Replacement Reserve of $250 per unit per year must be maintained for all residential units. (6) See "Additional Indebtedness" and "Mezzanine Debt" below. (7) Cut-Off Date LTV was adjusted by netting out $13,400,000 held in the Value Enhancement Reserve; adding back the Value Enhancement Reserve, the Cut-Off Date LTV and Maturity Date LTV is 87.85%. Furthermore, the appraised value, assuming completion of apartment major capital improvement ("MCI"), tenant buyouts and building MCI's, is $173,500,000 resulting in an LTV of 76.7%. (8) Does not include 20 professional and retail units. (9) Appraised value is shown on an "As-Is" basis based on appraisals dated from March 12 to March 14, 2007. The appraised value, assuming completion of apartment major capital improvement ("MCI"), tenant buyouts and building MCI's, is $173,500,000 resulting in an as-stabilized value of 76.7%. (10) UW NCF is based on the rent roll in-place as of June 18, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 69 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- UNIT MIX(1) - ------------------------------------------------------------------------------------- AVERAGE IN-PLACE UNIT MIX NO. OF UNITS (2) % OF UNITS MONTHLY RENT - ------------------------------------------------------------------------------------- RENT CONTROLLED Studio 1 0.1% $ 201 One Bedroom 11 0.7% $ 174 Two Bedroom 13 0.8% $ 217 Three Bedroom 4 0.2% $ 447 ----- ----- ------ Sub-total/Weighted Average 29 1.8% $ 232 RENT STABILIZED Studio 68 4.1% $ 686 One Bedroom 611 37.1% $ 757 Two Bedroom 455 27.6% $ 864 Three Bedroom 147 8.9% $ 937 Four Bedroom 1 0.1% $1,015 ----- ----- ------ Sub-total/Weighted Average 1,282 77.9% $ 812 SECTION 8 Studio 2 0.1% $ 758 One Bedroom 132 8.0% $ 961 Two Bedroom 145 8.8% $1,170 Three Bedroom 41 2.5% $1,352 ----- ----- ------ Sub-total/Weighted Average 320 19.4% $1,105 VACANT Studio 5 0.3% $ 775 One Bedroom 5 0.3% $ 882 Two Bedroom 3 0.2% $1,100 Three Bedroom 2 0.1% $1,388 ----- ----- ------ Sub-total/Weighted Average 15 0.9% $ 957 TOTAL/WTD. AVG. 1,646 100.0% $ 860 - ------------------------------------------------------------------------------------- (1) The above information is based on appraisals from Metropolitan Valuation Services, Inc. dated from March 12, 2007 to March 14, 2007. (2) Some of these properties include an employee unit which has been excluded from all calculations. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 70 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Three Borough Multifamily Pool Loan") is secured by a first mortgage encumbering 42 multifamily complexes, totaling 1,646 units, located in the Manhattan, Brooklyn and Bronx boroughs of New York, New York (the "Three Borough Multifamily Pool"). The Three Borough Multifamily Pool Loan represents approximately 3.7% of the Cut-Off Date Pool Balance. The Three Borough Multifamily Pool Loan was originated on April 23, 2007, and has a principal balance as of the Cut-Off Date of $133,000,000. The Three Borough Multifamily Pool Loan has a remaining term of 57 months and matures on May 1, 2012. The Three Borough Multifamily Pool Loan may be prepaid in whole but not in part on or after May 1, 2008 with payment of the greater of yield maintenance or 1% of the prepaid amount. The Three Borough Multifamily Pool may be prepaid in whole but not in part without payment of any yield maintenance charge on or after February 1, 2012. o THE BORROWERS. The borrowers are 37 special purpose entities. Legal counsel to the borrowers has delivered a non-consolidation opinion in connection with the origination of the Three Borough Pool Loan. The sponsors of the borrowers are (i) a joint venture between Westbrook Real Estate Fund VI, L.P. ("Westbrook"), Normandy Real Estate Fund, L.P. ("Normandy"), Barclays Investment Holding Inc. ("Barclays Investment Holding") and Vantage Investors I LLC ("Vantage") and (ii) David Kramer. Westbrook specializes in opportunistic real estate investments within the United States, Europe and Japan. Its investments include office, industrial, apartment, retail, hotel and resort and residential properties, and range from $5 million to over $2 billion in purchase price. Normandy is a fully integrated real estate investment management company based in Morristown, New Jersey with offices in Boston and New York City. Over the last 10 years, Normandy has invested over $820 million of equity in 47 separate transactions totaling over $3 billion in asset value. Barclays Investment Holding is an affiliate of Barclays Real Estate Capital Inc. Vantage has co-invested in over 1,000 rent stabilized multifamily assets in New York City and specializes in value-added and opportunistic investment and redevelopment strategies. David Kramer is an owner and manager of lower income apartment buildings in the New York City area. David Kramer and his affiliates have managed over 2,000 tenants across 59 residential buildings, including the Three Borough Pool, and have completed total, moderate and cosmetic rehabilitation on several hundred units in the New York City area. David Kramer is the non-recourse carveout guarantor. o THE PROPERTIES. The Mortgaged Properties consist of 42 properties comprised of approximately 1,646 apartment units and 20 professional and retail units located within Manhattan, Brooklyn, and the Bronx. The Mortgaged Properties were built between 1910 and 1969 and have benefited from ongoing renovations, most recently from 2002 through 2007. All of the properties are well situated within their respective neighborhoods, offering tenants access to local amenities including schools, restaurants, supermarkets, and numerous public transportation options connecting the neighborhoods with Manhattan and the rest of the Tri-State area. The sponsors intend to renovate units as they become vacant, and a $13,400,000 reserve was funded at origination for the purpose of renovating units, improving common areas and buying out tenants. See "Value Enhancement Reserve" below. As of June 18, 2007, the occupancy rate for the Mortgaged Properties securing the Three Borough Multifamily Pool Loan was approximately 96%. o RENT STABILIZATION; RENT CONTROL; SECTION 8. As of June 18, 2007, approximately 78% of the apartments included in the Three Borough Pool are rent stabilized. Rent stabilized leases can be one or two years in length at the option of the tenant. The renewal rate that may be charged for a particular rent stabilized apartment is determined by criteria established by the City of New York. An apartment may become deregulated (or destabilized) if it becomes vacant or if criteria involving legal rental rate level and occupant income levels are met. As of June 18, 2007, approximately 2% of the apartments included in the Three Borough Pool are rent controlled. In order for an apartment to be under rent control, the tenant must have been living there continuously since before July 1, 1971. The renewal rate that may be charged for a particular rent stabilized apartment is determined by criteria established by the City of New York. When a rent controlled apartment is vacated, it becomes rent stabilized (where the building contains at least six units), or completely removed from regulation. As of June 18, 2007, approximately 19% of the apartments included in the Three Borough Pool are Section 8 project-based units. Section 8, administered by the US Department of Housing and Urban Development ("HUD"), is the federal government's largest program by which it subsidizes rental payments for low-income families. o LOCK BOX ACCOUNT. All tenant payments due under the applicable tenant leases are deposited into a mortgagee-designated lockbox account. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 71 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THREE BOROUGH POOL - -------------------------------------------------------------------------------- o ADDITIONAL INDEBTEDNESS. The Mortgaged Property known as 2463 Valentine Avenue, Bronx is encumbered by a second mortgage in the original principal amount of $25,000 ("Junior Debt") in favor of Harvey Rosen, an individual ("Junior Lender"). The mortgagee and the Junior Lender have executed a subordination and standstill agreement subordinating the Junior Debt to the mortgagee's first mortgage on the related Mortgaged Property. o MEZZANINE DEBT. The equity owners of the borrower may incur future mezzanine debt, subject to certain conditions including, but not limited to: (i) an aggregate DSCR of no less than 1.10x, (ii) an aggregate LTV ratio not in excess of 85.0%, (iii) written confirmation from the applicable rating agencies that the incurrence of such indebtedness will not result in the downgrade, qualification or withdrawal of the ratings then assigned to the Certificates and (iv) the mezzanine lender must enter into an acceptable intercreditor agreement with the mortgagee. o RELEASE. The borrower is permitted to obtain the release of an individual property on or after May 1, 2008, subject to satisfaction of certain conditions including, but not limited to, (i) the DSCR, after giving effect to the proposed release, is at least equal to (a) the DSCR as of the origination date for releases of properties with aggregate allocated loan amounts of up to and including the first 15% of the initial principal balance and (b) the DSCR immediately prior to the proposed release for releases of properties with aggregate allocated loan amounts greater than the first 15% of the initial principal balance of the Three Borough Pool Loan and (ii) a release price of 100% for the first 15% of released collateral, 110% for the subsequent 30% of released collateral, 115% of the subsequent 30% of released collateral and 120% for the final 25% of released collateral, based on allocated loan amounts. Prior to February 1, 2012, the release price is also required to include a yield maintenance charge. o VALUE ENHANCEMENT RESERVE. At origination, $13,400,000 was deposited with the mortgagee in the Value Enhancement Reserve to pay for unit improvements, tenant buyout costs and capital expenditures. The remaining balance as of July 27, 2007, is $11,997,255. Disbursements of funds from the Value Enhancement Reserve are subject to the following restrictions: (i) the funds may not be used for any of the five mortgaged properties subject to housing assistance payments contracts, (ii) no more than $2,000,000 in the aggregate may be disbursed for tenant buyout costs, and (iii) with respect to the first $750,000 of tenant improvements, disbursements will based solely upon the borrower's request; any additional disbursement is subject to the lesser of actual costs incurred or a trailing average of $30,000 per unit. o PROPERTY MANAGEMENT. Colonial Management Group, LLC, an affiliate of one of the sponsors, is the property manager for the Three Borough Multifamily Pool. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 72 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 110 EAST 42ND STREET - -------------------------------------------------------------------------------- [3 PHOTOS OF 110 EAST 42ND STREET] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 73 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 110 EAST 42ND STREET - -------------------------------------------------------------------------------- [MAP OF 110 EAST 42ND STREET] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 74 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 110 EAST 42ND STREET - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $90,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Charles Ishay TYPE OF SECURITY Both MORTGAGE RATE 5.814% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 119 / IO LOCKBOX Yes UP-FRONT RESERVES TAX / INSURANCE Yes TI / LC (LOC)(1) $5,000,000 DEBT SERVICE(2)(3) $3,000,000 DEBT SERVICE (LOC)(2) $5,100,000 ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT(4) $32,418 TI / LC(1) Springing ADDITIONAL FINANCING(5) Mezzanine Debt $ 16,000,000 TRUST ASSET TOTAL DEBT ----------- -------------- CUT-OFF DATE BALANCE $90,000,000 $106,000,000 CUT-OFF DATE BALANCE/SF $472 $556 CUT-OFF DATE LTV(6) 80.6% 94.9% MATURITY DATE LTV(6) 80.6% 94.9% UW DSCR ON NCF(7) 1.26x 1.00x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION New York, NY PROPERTY TYPE Office -- CBD SIZE (SF) 190,691 OCCUPANCY AS OF APRIL 1, 2007 98.4% YEAR BUILT / YEAR RENOVATED 1921 / NA APPRAISED VALUE $111,700,000 PROPERTY MANAGEMENT Downtown Broad Management, LLC UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $11,044,883 UW TOTAL EXPENSES $4,427,960 UW NET OPERATING INCOME (NOI) $6,616,922 UW NET CASH FLOW (NCF)(7) $6,584,505 - -------------------------------------------------------------------------------- (1) The borrower posted a $5,000,000 letter of credit at closing. In the event the letter of credit is drawn down by the mortgagee at any time during the loan term, the borrower is required to either: (i) provide an additional letter of credit in an amount equal to the amount drawn, or (ii) deposit an amount equal to the amount drawn into a reletting reserve account. (2) There is a shortfall in the related Mortgaged Property cash flow to fully cover debt service payments. Amounts held in the debt service reserve will be released as needed to cover the debt service shortfall. The $5,100,000 letter of credit will be drawn down at the beginning of each loan year by the amount of any expected debt service shortfall, at which time the borrower will be required to provide an additional letter of credit in an amount equal to the amount drawn. (3) If at any time the DSC ratio reaches 1.05x for two consecutive quarters, the cash funds available in the debt service reserve account will be released by the mortgagee. (4) CPI adjusted after first loan year. (5) Future mezzanine debt is permitted subject to certain conditions including an aggregate DSC ratio of no less than 1.05x, an aggregate LTV ratio of no more than 85.0% and certain other conditions as specified in the related Mortgage Loan documents. (6) Based on the Joseph J. Blake and Associates, Inc. appraisal dated April 26, 2007, the as-stabilized value as of August 2010 will be $131,500,000, resulting in Cut-Off Date LTV and Maturity Date LTV of 68.4% for the Trust Asset and a Cut-Off Date LTV and Maturity Date LTV of 80.6% for the Total Debt. (7) The UW NCF was derived based on certain assumptions, including that leases rolling during the loan term would be marked to market rents. If such rental rates are not achieved, then the NCF for the Mortgaged Property will be negatively affected. The "as-is" DSCR for the Trust Asset is 0.76x and Whole Mortgage Loan is 0.61x. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 75 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 110 EAST 42ND STREET - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------- TENANT SUMMARY - ------------------------------------------------------------------------- RATINGS(1) % OF NET FITCH/MOODY'S/ NET RENTABLE RENTABLE TENANT S&P AREA (SF) AREA - ------------------------------------------------------------------------- MAJOR TENANTS Newmark & Co ................. NR/NR/NR 30,835 16.2% Clear Channel ................ BB-/Baa3/B+ 30,530 16.0 Morgan Lewis ................. NR/NR/NR 18,500 9.7 Ackman Ziff .................. NR/NR/NR 16,795 8.8 Curtis Mallet ................ NR/NR/NR 11,384 6.0 SLR Acquisition .............. NR/NR/NR 10,407 5.5 ------- ----- TOTAL MAJOR TENANTS ......... 118,451 62.1% NON-MAJOR TENANTS ............ 69,120 36.2 ------- ----- OCCUPIED TOTAL ............... 187,571 98.4% VACANT SPACE ................. 3,120 1.6 ------- ----- PROPERTY TOTAL ............... 190,691 100.0% ======= ===== - ------------------------------------------------------------------------- % OF TOTAL BASE RENT ANNUAL ANNUAL BASE LEASE TENANT PSF BASE RENT RENT EXPIRATION - ---------------------------------------------------------------------------------------- MAJOR TENANTS Newmark & Co ................. $ 45.53 $1,404,049 18.7% Multiple Spaces(2) Clear Channel ................ $ 46.49 1,419,257 18.9 January 2010 Morgan Lewis ................. $ 39.77 735,745 9.8 July 2010 Ackman Ziff .................. $ 34.47 578,924 7.7 October 2016 Curtis Mallet ................ $ 27.10 308,506 4.1 May 2017 SLR Acquisition .............. $ 34.67 360,811 4.8 July 2015 ---------- ----- TOTAL MAJOR TENANTS ......... $ 40.58 $4,807,292 64.0% NON-MAJOR TENANTS ............ $ 39.08 2,701,301 36.0 ---------- ----- OCCUPIED TOTAL ............... $ 40.03 $7,508,592 100.0% ========== ===== VACANT SPACE ................. PROPERTY TOTAL ............... - ---------------------------------------------------------------------------------------- (1) Certain ratings are those of the parent whether or not the parent guarantees the lease. (2) Under the terms of multiple leases, approximately 13,149 square feet expire in May 2011 and approximately 17,686 square feet expire in May 2016. - ------------------------------------------------------------------------------------------------------------------------------------ LEASE EXPIRATION SCHEDULE - ------------------------------------------------------------------------------------------------------------------------------------ # OF LEASES WA BASE RENT / SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF SF % OF BASE RENT CUMULATIVE % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - ------------------------------------------------------------------------------------------------------------------------------------ 2007 1 $ 39.98 978 0.5% 0.5% 0.5% 0.5% 2008 5 $ 32.62 17,938 9.4% 9.9% 7.8% 8.3% 2009 1 $ 42.64 933 0.5% 10.4% 0.5% 8.8% 2010 11 $ 43.31 67,626 35.5% 45.9% 39.0% 47.8% 2011 7 $ 44.45 27,326 14.3% 60.2% 16.2% 64.0% 2012 4 $ 41.09 16,498 8.7% 68.9% 9.0% 73.0% 2013 0 $ 0.00 0 0.0% 68.9% 0.0% 73.0% 2014 0 $ 0.00 0 0.0% 68.9% 0.0% 73.0% 2015 1 $ 34.67 10,407 5.5% 74.3% 4.8% 77.9% 2016 3 $ 39.28 34,481 18.1% 92.4% 18.0% 95.9% 2017 1 $ 27.10 11,384 6.0% 98.4% 4.1% 100.0% Thereafter 0 $ 0.00 0 0.0% 98.4% 0.0% 100.0% Vacant 0 NA 3,120 1.6% 100.0% 0.0% 100.0% - ------------------------------------------------------------------------------------------------------------------------------------ * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 76 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 110 EAST 42ND STREET - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "110 East 42nd Street Loan") is secured by a first mortgage encumbering both a fee and leasehold interest in an office building located in New York, New York. The 110 East 42nd Street Loan represents approximately 2.5% of the Cut-Off Date Pool Balance. The 110 East 42nd Street Loan was originated on June 26, 2007, and has a principal balance as of the Cut-Off Date of $90,000,000. The 110 East 42nd Street Loan provides for interest-only payments for the entire loan term. The 110 East 42nd Street Loan has a remaining term of 119 months and matures on July 11, 2017. The 110 East 42nd Street Loan may be prepaid on or after May 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is Gotham 42nd Street LLC ("Gotham"), a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the 110 East 42nd Street Loan. The sponsor of the borrower is Charles Ishay. Gotham Realty, an affiliate of the borrower, is a private investment firm that has acquired Class A commercial buildings in large commercial markets. Gotham Realty currently owns approximately 3.5 million square feet of commercial real estate. o THE PROPERTY. The Mortgaged Property is an approximately 190,691 square foot office building situated on approximately 0.6 acres. The Mortgaged Property was constructed in 1921. The Mortgaged Property is located in New York, New York. As of April 1, 2007, the occupancy rate for the Mortgaged Property securing the 110 East 42nd Street Loan was approximately 98.4%. The largest tenant is Newmark & Co. ("Newmark"), currently occupying approximately 30,835 square feet, or approximately 16.2% of the net rentable area. Newmark is headquartered in New York and is a large independent real estate service firm, which provides comprehensive real estate solutions to corporations, property owners, investors and developers across the globe. Founded in 1929, Newmark also offers asset management and advisory services, including real estate strategy, for growing companies. The Newmark leases expire at various times. The second largest tenant is Clear Channel (NYSE: "CCU"), currently occupying approximately 30,530 square feet, or approximately 16.0% of the net rentable area. Clear Channel is a large owner of radio stations across the United States, and has equity interests in approximately 240 international stations. Clear Channel also owns a 90% interest in a large, worldwide, outdoor advertising company, Clear Channel Outdoor Holding, which has approximately 910,000 display locations worldwide. As of July 23, 2007, Clear Channel was rated "BB-" (Fitch), "Baa3" (Moody's) and "B+" (S&P). The Clear Channel lease expires in January 2010. The third largest tenant is Morgan, Lewis & Bockius LLP, ("Morgan Lewis"), occupying approximately 18,500 square feet, or approximately 9.7% of the net rentable area. Morgan Lewis is a Philadelphia, Pennsylvania based law firm founded in 1873. Morgan Lewis' multiple practice areas include employment, intellectual property and mergers and acquisitions. Morgan Lewis has more than 20 offices and approximately 1,300 attorneys located throughout New York, Philadelphia, Washington, D.C. and California. The Morgan Lewis lease expires in July 2010. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a mortgagee-designated lockbox account. o MEZZANINE DEBT. A mezzanine loan with an original principal amount of $16,000,000 was originated on June 26, 2007. The mezzanine loan is not part of the Trust Fund and is secured by a pledge of an equity interest in Gotham 42nd Street LLC, the borrower under the 110 East 42nd Street Loan. Additionally, the sponsor is permitted to incur future mezzanine indebtedness subject to the following conditions: (i) the mezzanine lender shall enter into a form of intercreditor agreement, (ii) the total LTV ratio does not exceed 85.0%, (iii) the debt service coverage does not fall below 1.05x, (iv) the receipt of a no-downgrade confirmation from the applicable rating agency and (v) certain other conditions as specified in the related Mortgage Loan documents. o MANAGEMENT. Downtown Broad Management, LLC is the property manager for the Mortgaged Property securing the 110 East 42nd Street Loan. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 77 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 78 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- [5 PHOTOS OF CENTRAL / EASTERN INDUSTRIAL POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 79 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- [MAP OF CENTRAL / EASTERN INDUSTRIAL POOL] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 80 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $ 89,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Lakestar Property TYPE OF SECURITY Fee PARTIAL DEFEASANCE(1) Yes MORTGAGE RATE 5.749% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 119 / 360 LOCKBOX Yes UP-FRONT RESERVES ENGINEERING $128,858 ENVIRONMENTAL $1,325,000 ONGOING ANNUAL RESERVES TAX / INSURANCE(2) Springing REPLACEMENT(2) Springing ADDITIONAL FINANCING B-Note $19,000,000 WHOLE TRUST ASSET MORTGAGE LOAN ----------- ------------- CUT-OFF DATE BALANCE $89,000,000 $108,000,000 CUT-OFF DATE BALANCE/SF $42 $51 CUT-OFF DATE LTV 73.3% 88.9% MATURITY DATE LTV 68.3% 82.9% UW DSCR ON NCF 1.22x 1.01x - -------------------------------------------------------------------------------- (1) The release of an individual Mortgaged Property will be permitted subject to the satisfaction of certain tests and conditions as set forth in the related Mortgage Loan documents. Certain of those conditions include, but are not limited to: (i) no event of default shall have occurred or be conitinuing and (ii) the greater of (a) payment of 120% of the then outstanding allocated loan amount related to such release, (b) the maintenance of a DSC ratio greater than or equal to the DSC ratio prior to the release or at origination, whichever is higher, and (c) amount necessary to defease a sum equal to 100% of net sales proceeds from sale of any of the individual Mortgaged Properties. (2) Required after an event of default. - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 13 LOCATION Various PROPERTY TYPE Industrial -- Warehouse SIZE (SF) 2,102,814 OCCUPANCY AS OF VARIOUS 100.0% YEAR BUILT / YEAR RENOVATED Various APPRAISED VALUE $121,450,000 PROPERTY MANAGEMENT Lakestar Properties, LLC UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $8,259,073 UW TOTAL EXPENSES $82,591 UW NET OPERATING INCOME (NOI) $8,176,482 UW NET CASH FLOW (NCF) $7,617,626 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 81 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL SUMMARY - ---------------------------------------------------------------------------------------------------- ALLOCATED CUT-OFF ALLOCATED YEAR DATE CUT-OFF BUILT / YEAR NET RENTABLE BALANCE PROPERTY NAME DATE BALANCE RENOVATED AREA (SF) PER SF - ---------------------------------------------------------------------------------------------------- InteliCoat Technologies - South Hadley, MA $ 12,155,093 1935 / 2002 443,006 $27 Summa Technology, Inc. - Huntsville, AL 11,795,384 1964 / NA 220,016 $54 American Bedding - Tampa, FL 10,783,009 1972 / NA 266,840 $40 InteliCoat Technologies - Matthews, NC 10,218,519 1963 / NA 229,479 $45 A.R.E., Inc. - Massillon, OH 9,866,639 1995 / NA 243,000 $41 The Durcon Company - Canton, MI 8,356,111 1977 / 1998 126,904 $66 Buchanan Visual Communications - Farmers Branch, TX 6,992,269 1997 / NA 75,709 $92 Humanetics II, LTD - Carrollton, TX 4,660,139 1977 / NA 109,817 $42 Holm Industries - Aurora, OH 4,491,204 1984 / NA 112,710 $40 Humanetics II, LTD - Mc Allen, TX 3,922,593 1999 / NA 92,573 $42 Holm Industries - Fort Smith, AR 2,946,065 1966 / NA 107,560 $27 Humanetics II, LTD - Manor, TX 1,924,213 1988 / NA 45,120 $43 Holm Industries - Evansville, IN 888,764 1964 / 1999 30,080 $30 ------------- --------- TOTAL/AVERAGE $ 89,000,000 2,102,814 $42 ============= ========= - ---------------------------------------------------------------------------------------------------- APPRAISED UNDERWRITTEN UNDERWRITTEN APPRAISAL VALUE PROPERTY NAME OCCUPANCY OCCUPANCY NET CASH FLOW VALUE PER SF - ---------------------------------------------------------------------------------------------------------------- InteliCoat Technologies - South Hadley, MA 100.0% 95.0% $1,036,192 $ 16,450,000 $ 37 Summa Technology, Inc. - Huntsville, AL 100.0% 95.0% 1,001,741 16,250,000 $ 74 American Bedding - Tampa, FL 100.0% 95.0% 917,853 14,700,000 $ 55 InteliCoat Technologies - Matthews, NC 100.0% 95.0% 873,400 13,800,000 $ 60 A.R.E., Inc. - Massillon, OH 100.0% 95.0% 837,605 13,800,000 $ 57 The Durcon Company - Canton, MI 100.0% 95.0% 710,003 11,400,000 $ 90 Buchanan Visual Communications - Farmers Branch, TX 100.0% 95.0% 593,791 9,450,000 $125 Humanetics II, LTD - Carrollton, TX 100.0% 95.0% 417,214 6,300,000 $ 57 Holm Industries - Aurora, OH 100.0% 95.0% 381,447 6,100,000 $ 54 Humanetics II, LTD - Mc Allen, TX 100.0% 95.0% 348,131 5,300,000 $ 57 Holm Industries - Fort Smith, AR 100.0% 95.0% 250,230 4,100,000 $ 38 Humanetics II, LTD - Manor, TX 100.0% 95.0% 169,679 2,600,000 $ 58 Holm Industries - Evansville, IN 100.0% 95.0% 80,339 1,200,000 $ 40 ---------- ------------ TOTAL/AVERAGE 100.0% 95.0% $7,617,626 $121,450,000 $ 58 ========== ============ - ---------------------------------------------------------------------------------------------------------------- * Occupancy as of June 8, 2007, for A.R.E., Inc. -- Massillon, OH, InteliCoat Technologies - South Hadley, MA, Summa Technology, Inc. -- Huntsville, AL, American Bedding -- Tampa, FL, and InteliCoat Technologies - Matthews, NC, June 6, 2007, for The Durcan Company -- Canton, MI, June 7, 2007, for Humanetics II, LTD -- Manor, TX, Humanetics II, LTD -- Carrollton, TX, Humanetics II, LTD -- McAllen, TX, Holm Industries -- Aurora, OH and Buchanan Visual Communications -- Farmers Branch, TX, and June 12, 2007, for Holm Industries -- Fort Smith, AR and Holm Industries -- Evansville IN. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 82 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------- TENANT SUMMARY - ----------------------------------------------------------------------------------------- % OF NET RATINGS NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - ----------------------------------------------------------------------------------------- MAJOR TENANTS Intelicoat Technologies -- South Hadley, MA NR/NR/NR 443,006 21.1% American Bedding Industries -- Tampa, FL ... NR/NR/NR 266,840 12.7 A.R.E. Accessories, Inc. -- Massillon, OH .. NR/NR/NR 243,000 11.6 Intelicoat Technologies - Matthews, NC ..... NR/NR/NR 229,479 10.9 Summa Technology, Inc. -- Huntsville, AL ... NR/NR/NR 220,016 10.5 The Durcon Company -- Canton, MI ........... NR/NR/NR 126,904 6.0 Holm Industries, Inc. -- Aurora, OH ........ NR/NR/NR 112,710 5.4 Humanetics II, Ltd -- Farmer Branch, TX .... NR/NR/NR 109,817 5.2 Holm Industries, Inc. -- Ft Smith, AR ...... NR/NR/NR 107,560 5.1 Humanetics II, Ltd. -- McAllen, TX ......... NR/NR/NR 92,573 4.4 --------- ----- TOTAL MAJOR TENANTS ....................... 1,951,905 92.8% NON-MAJOR TENANTS .......................... 150,909 7.2 --------- ----- OCCUPIED TOTAL ............................. 2,102,814 100.0% VACANT SPACE ............................... 0 0.0 --------- ----- PROPERTY TOTAL ............................. 2,102,814 100.0% ========= ===== - ----------------------------------------------------------------------------------------- % OF BASE ANNUAL BASE TOTAL ANNUAL LEASE TENANT RENT PSF RENT BASE RENT EXPIRATION - --------------------------------------------------------------------------------------------------- MAJOR TENANTS Intelicoat Technologies -- South Hadley, MA $ 2.61 $1,157,657 13.6% August 2020 American Bedding Industries -- Tampa, FL ... $ 3.86 1,028,990 12.1 February 2025 A.R.E. Accessories, Inc. -- Massillon, OH .. $ 3.88 942,516 11.1 October 2024 Intelicoat Technologies - Matthews, NC ..... $ 4.22 967,560 11.4 May 2020 Summa Technology, Inc. -- Huntsville, AL ... $ 5.02 1,104,568 13.0 October 2020 The Durcon Company -- Canton, MI ........... $ 6.15 780,714 9.2 November 2019 Holm Industries, Inc. -- Aurora, OH ........ $ 3.80 428,463 5.1 April 2020 Humanetics II, Ltd -- Farmer Branch, TX .... $ 4.21 462,138 5.4 July 2018 Holm Industries, Inc. -- Ft Smith, AR ...... $ 2.66 286,526 3.4 April 2020 Humanetics II, Ltd. -- McAllen, TX ......... $ 4.21 389,571 4.6 June 2018 ---------- ----- TOTAL MAJOR TENANTS ....................... $ 3.87 $7,548,704 89.0% NON-MAJOR TENANTS .......................... $ 6.19 934,775 11.0 ---------- ----- OCCUPIED TOTAL ............................. $ 4.03 $8,483,479 100.0% ========== ===== VACANT SPACE ............................... PROPERTY TOTAL ............................. - --------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - --------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % % OF BASE CUMULATIVE % # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF OF SF RENT OF BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* EXPIRING* - --------------------------------------------------------------------------------------------------------- 2017 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2018 3 $ 4.21 247,510 11.8% 11.8% 12.3% 12.3% 2019 2 $ 7.08 202,613 9.6% 21.4% 16.9% 29.2% 2020 6 $ 3.53 1,142,851 54.3% 75.8% 47.6% 76.8% 2021 0 $ 0.00 0 0.0% 75.8% 0.0% 76.8% 2022 0 $ 0.00 0 0.0% 75.8% 0.0% 76.8% 2023 0 $ 0.00 0 0.0% 75.8% 0.0% 76.8% 2024 1 $ 3.88 243,000 11.6% 87.3% 11.1% 87.9% 2025 1 $ 3.86 266,840 12.7% 100.0% 12.1% 100.0% Thereafter 0 $ 0.00 0 0.0% 100.0% 0.0% 100.0% Vacant 0 NA 0 0.0% 100.0% 0.0% 100.0% - --------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 83 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- CENTRAL / EASTERN INDUSTRIAL POOL - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Central/Eastern Industrial Pool Loan") is secured by first mortgages or deeds of trust encumbering 13, single tenant, industrial properties located throughout the United States. The Central/Eastern Industrial Pool Loan represents approximately 2.5% of the Cut-Off Date Pool Balance. The Central/Eastern Industrial Pool Loan was originated on June 22, 2007 and has a principal balance as of the Cut-Off Date of $89,000,000. The Central/Eastern Industrial Pool Loan, dated June 22, 2007, is a portion of a whole loan with an original principal balance of $108,000,000. The other loan related to the Central/Eastern Industrial Pool Loan is evidenced by a separate subordinate note, dated June 22, 2007, (the "Central/Eastern Industrial Pool Subordinate Companion Loan" with an original principal balance of $19,000,000 and, together with the Central/Eastern Industrial Pool Loan, comprise the "Central/Eastern Industrial Pool Whole Loan"). The Central/Eastern Industrial Pool Subordinate Companion Loan will not be an asset of the Trust Fund. The Central/Eastern Industrial Pool Loan and the Central/Eastern Industrial Pool Subordinate Companion Loan are governed by an intercreditor and servicing agreement, as described in the Prospectus Supplement under "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans" and will be serviced pursuant to the terms of the pooling and servicing agreement. The Central/Eastern Industrial Pool Loan provides for interest-only payments for the first 60 months of its term, and thereafter, fixed monthly payments of principal and interest. The Central/Eastern Industrial Pool Loan has a remaining term of 119 months and matures on July 11, 2017. The Central/Eastern Industrial Pool Loan may be prepaid on or after May 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWERS. The borrowers are 11 limited partnerships, each special purpose entities. Each borrower is controlled by Lakestar Properties. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Central/Eastern Industrial Pool Loan. Lakestar Properties, a real estate investment firm led by Mark Frankel, has acquired approximately 30 office, retail and multifamily properties along the East and West Coasts valued at approximately $450,500,000. Mr. Frankel is the Chairman and CEO of International Assets Advisory, LLC, a global securities dealer, and Global Assets Advisory, LLC, a registered investment advisor specializing in money management of high net worth individuals. o THE PROPERTIES. The Mortgaged Properties consist of 13, single tenant, industrial properties located throughout the United States. As of June 2007, the occupancy rate for the Mortgaged Properties securing the Central/Eastern Industrial Pool Loan was approximately 100.0%. The Mortgaged Properties contain, in the aggregate, approximately 2,102,814 square feet of industrial space. o LOCKBOX ACCOUNT. All tenant payments due under the applicable tenant leases are deposited into a mortgagee-designated lockbox account. o RELEASES. The release of an individual Mortgaged Property will be permitted subject to the satisfaction of certain conditions as set forth in the related Mortgage Loan documents including, but not limited to, the following: (i) no event of default shall have occurred and be continuing and (ii) payment of an amount equal to the greater of (a) the amount which is necessary to defease a sum equal to 100% of the net sales proceeds from the sale of the cross-collateralized property being released, (b) 120% of the allocated loan amount with respect to the cross-collateralized property being released and (c) such amount as would cause the Aggregate Debt Service Coverage ratio (as defined in the related Mortgage Loan documents) after the release to equal or exceed the Aggregate Debt Service Coverage ratio prior to release or at origination, whichever is higher. o MANAGEMENT. The Mortgaged Properties are managed by Lakestar Properties, LLC, the sponsor. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 84 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE RENAISSANCE - -------------------------------------------------------------------------------- [3 PHOTOS OF THE RENAISSANCE] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 85 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE RENAISSANCE - -------------------------------------------------------------------------------- [MAP OF THE RENAISSANCE] This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 86 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE RENAISSANCE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $84,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.3% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR The Moinan Group TYPE OF SECURITY Fee MORTGAGE RATE 5.670% MATURITY DATE May 11, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 57 / IO LOCKBOX Yes UP-FRONT RESERVES TAX / INSURANCE Yes ENGINEERING $322,457 DEBT SERVICE(1) $2,000,000 ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT $22,100 DEBT SERVICE(1) Yes ADDITIONAL FINANCING B-Note $9,000,000 WHOLE TRUST ASSET MORTGAGE LOAN ----------- ------------- CUT-OFF DATE BALANCE $84,000,000 $93,000,000 CUT-OFF DATE BALANCE / UNIT $380,090 $420,814 CUT-OFF DATE LTV 71.2% 78.8% MATURITY DATE LTV 71.2% 78.8% UW DSCR ON NCF(2) 1.35x 1.22x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION New York, NY PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 221 OCCUPANCY AS OF JULY 17, 2007 97.3% YEAR BUILT / YEAR RENOVATED 1931 / 1999 APPRAISED VALUE $118,000,000 PROPERTY MANAGEMENT Douglas Elliman Property Management UW ECONOMIC OCCUPANCY 97.0% UW REVENUES $9,701,394 UW TOTAL EXPENSES $3,247,284 UW NET OPERATING INCOME (NOI) $6,454,110 UW NET CASH FLOW (NCF)(2) $6,409,910 - -------------------------------------------------------------------------------- (1) Funds held in the debt service reserve account will be released as needed to cover any debt service shortfall. On the earlier of (i) November 11, 2008, or (ii) the reserve balances falling below $250,000, and each one year anniversary thereafter until the Mortgage Property achieves a debt service ratio of 1.20x for 2 consecutive quarters, the borrower is required to deposit an amount determined by the mortgagee that when added to the Rent will reasonably provide for a debt service ratio of 1.10x for the subsequent 12 month period. (2) The UW NCF was derived based on certain assumptions, including that leases rolling during the loan term would be marked to market rents. If such rental rates are not achieved, then the NCF for the Mortgaged Property will be negatively affected. The "as-is" DSCR for the Trust Asset is 1.09x and Whole Mortgage Loan is 0.98x. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 87 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE RENAISSANCE - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------ UNIT MIX - ------------------------------------------------------------------------------------------------------------ APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA MARKET RENT - ------------------------------------------------------------------------------------------------------------ Studio .......................... 182 642 116,927 76.1% $ 2,509 1 BR ............................ 32 844 27,022 17.6 $ 3,383 2 BR ............................ 6 1,112 6,673 4.3 $ 4,066 4 BR ............................ 1 3,084 3,084 2.0 $ 11,000 --- ------- ----- TOTAL/WEIGHTED AVERAGE ......... 221 696 153,706 100.0% $2,716/$3.91/SF === ======= ===== - ------------------------------------------------------------------------------------------------------------ o THE LOAN. The Mortgage Loan ("The Renaissance Loan") is secured by a first mortgage encumbering a 221-unit multifamily complex located in New York, New York. The Renaissance Loan represents approximately 2.3% of the Cut-Off Date Pool Balance. The Renaissance Loan was originated on April 24, 2007, and has a principal balance as of the Cut-Off Date of $84,000,000. The Renaissance Loan, dated April 24, 2007, is a portion of a whole loan with an original principal balance of $93,000,000. The other loan related to the Renaissance Loan is evidenced by a separate subordinate note, dated April 24, 2007, (the "Renaissance Subordinate Companion Loan" with an original principal balance of $9,000,000 and, together with the Renaissance Loan, comprise the "Renaissance Whole Loan"). The Renaissance Subordinate Companion Loan will not be an asset of the Trust Fund. The Renaissance Loan and the Renaissance Subordinate Companion Loan are governed by an intercreditor and servicing agreement, as described in the Prospectus Supplement under "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans" and will be serviced pursuant to the terms of the pooling and servicing agreement. The Renaissance Loan provides for interest-only payments for the entire loan term. The Renaissance Loan has a remaining term of 57 months and matures on May 11, 2012. The Renaissance Loan may be prepaid on or after March 11, 2012, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is 100 John Mazal LLC, a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of The Renaissance Loan. The sponsor of the borrower is The Moinian Group, a development firm headed by Joseph Moinian, which owns and manages over $8 billion in assets and has been actively involved in greater New York commercial real estate for over 15 years. The Moinian Group currently owns and controls a portfolio of approximately 20 million square feet of office, industrial, retail, residential, and hotel properties throughout the United States and abroad, including approximately 13 million square feet in Manhattan. o THE PROPERTY. The Mortgaged Property is a 221-unit complex of residential condominiums, situated on floors 14 to 34 of a 34-story mixed-use building located in New York, New York. The building in which the Mortgaged Property is located consists of residential use on the upper floors and office and retail uses on the lower floors, and is situated on approximately 0.3 acres. The Mortgaged Property was constructed in 1931 and renovated in 1999. Common area amenities include a swimming pool, two laundry rooms, a concierge, a health club and storage closets. Individual unit amenities include gas stoves, refrigerators, dishwashers, microwaves and washer/dryer. As of July 17, 2007, the occupancy rate for the Mortgaged Property securing The Renaissance Loan was approximately 97.3%. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a mortgagee-designated lockbox account. o PROPERTY MANAGEMENT. Douglas Elliman Property Management is the property manager for the Mortgaged Property securing The Renaissance Loan. Douglas Elliman Property Management, headquartered in Manhattan, offers expert management of co-op, condominium and rental properties throughout the five boroughs of New York City, Long Island, Weschester County and Northern New Jersey. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 88 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 89 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 84 LUMBER INDUSTRIAL POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE (1) $ 75,008,971 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.1% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR The Spirit Finance Corporation TYPE OF SECURITY Fee PARTIAL RELEASE / SUBSTITUTION(2) Yes MORTGAGE RATE 6.1720% MATURITY DATE May 5th, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 24 ORIGINAL TERM / AMORTIZATION 120/360 REMAINING TERM / AMORTIZATION 117/360 LOCKBOX Hard UP-FRONT RESERVES TAX / INSURANCE None ENGINEERING / REPLACEMENT(3) $2,458,685 ONGOING ANNUAL RESERVES TAX / INSURANCE(4) Springing ADDITIONAL FINANCING(5) Pari Passu Debt $75,008,971 PARI PASSU NOTES ---------------- CUT-OFF DATE BALANCE $150,017,942 CUT-OFF DATE BALANCE / SF $43 CUT-OFF DATE LTV 68.5% MATURITY DATE LTV 61.0% UW DSCR ON NCF 1.57x - -------------------------------------------------------------------------------- (1) The total balance of the 84 Lumber Industrial Pool loan is $150,017,942 as of the Cut-off Date ("Whole Loan") and consists of two pari passu notes: Notes A-1 with a Cut-off Date Balance of $75,008,971, and Note A-2 with a Cut-off Date Balance of $75,008,971. Note A-1 will be included in the trust; Note A-2 will not be included in the trust. Unless otherwise specified, all DSC ratio, LTV ratio and other calculations with respect to the 84 Lumber Pool Loan are based on both Note A-1 and Note A-2. (2) The release of an individual Mortgaged Property will be permitted through partial defeasance after expiration of a lock-out period subject to satisfaction of certain conditions as set forth in the loan documents including, but not limited to (i) a portion of the loan defeased in the amount of 100% of the allocated loan amount for "dark" properties (which is limited to 10% of the original loan amount) or 125% of the allocated loan amount for occupied properties and (ii) the DSC ratio must be at least equal to the greater of the DSC ratio at release or the DSC ratio at origination. The borrower may substitute Mortgaged Properties subject to satisfaction of certain conditions as set forth in the loan documents including, but not limited to (i) the aggregate allocated loan amount shall not exceed 30% of the original loan amount, (ii) the DSC ratio must be at least equal to the greater of the DSC ratio at substitution or the DSC ratio at origination, and (iii) receipt of rating agency confirmation after 10% of properties based on allocated loan amounts have been substituted. (3) An Engineering/Replacement Reserve was funded at closing for post-construction costs at 7 Mortgaged Properties as well as 125% of the engineer's estimated immediate repairs. (4) Reserve accounts for (i) annual real estate taxes and (ii) annual insurance premiums, will be required if the EBITDA ratio for the tenant is less than or equal to 1.25x or if certain other conditions specified in the related loan documents are not met; provided, however, the requirement for reserve accounts may be satisfied by posting a letter of credit meeting the conditions contained in the loan documents. (5) No additional secured debt may be placed on the properties, however, the Spirit Finance Corporation or an affiliate may pledge, directly or indirectly, equity interests in the borrower to secure a line of credit, revolving credit facility or other corporate facility. [PHOTO OF 84 LUMBER INDUSTRIAL POOL] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 54 LOCATION Various PROPERTY TYPE Industrial SIZE (SF) 3,458,528 OCCUPANCY AS OF 8/1/07 100.0% YEAR BUILT / YEAR RENOVATED Various/Various APPRAISED VALUE $218,880,000 PROPERTY MANAGEMENT Owner-Managed UW ECONOMIC OCCUPANCY 99.0% UW REVENUES $17,731,041 UW TOTAL EXPENSES $177,310 UW NET OPERATING INCOME (NOI) $17,553,730 UW NET CASH FLOW (NCF) $17,207,877 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 90 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 84 LUMBER INDUSTRIAL POOL - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- POOL SUMMARY - ------------------------------------------------------------------------------------- ALLOCATED ALLOCATED CUT-OFF WHOLE LOAN DATE A-1 NOTE PROPERTY NAME LOCATION BALANCE BALANCE - ------------------------------------------------------------------------------------- 165 South Spruce Avenue ...... Rialto, CA $ 6,518,049 $ 3,259,025 275 East Willis Road ......... Chandler, AZ 5,483,112 2,741,556 6173 Arizona Farms ........... Florence, AZ 4,249,412 2,124,706 13285 Fenway Boulevard ....... Hugo, MN 3,906,717 1,953,359 7960 Notes Drive ............. Manassas, VA 3,831,324 1,915,662 200 84 Way ................... Hammond, LA 3,769,639 1,884,820 101 South Bernard Road ....... Broussard, LA 3,687,393 1,843,696 3777 CR 544 East ............. Haines City, FL 3,564,023 1,782,011 436 Powerhouse Street ........ McKinney, TX 3,375,541 1,687,770 21881 Grenada Avenue ......... Lakeville, MN 3,255,598 1,627,799 550 Quality Center ........... Wrightstown, WI 3,221,328 1,610,664 2800 15th Street East ........ Bradenton, FL 3,152,789 1,576,395 108 Madison Oaks Avenue ...... Georgetown, TX 3,002,004 1,501,002 6335 West Integrity Way ...... Post Falls, ID 2,988,296 1,494,148 1893 North Chappel Drive ..... Spanish Fork, UT 2,926,611 1,463,305 4287 Stough Road ............. Concord, NC 2,912,903 1,456,452 3147 Jim Christal Road ....... Denton, TX 2,878,634 1,439,317 2725 East 24th Street ........ Yuma, AZ 2,878,634 1,439,317 3800 Richard Street .......... Moss Point, MS 2,861,499 1,430,750 4802 Roy J. Smith Drive ...... Killeen, TX 2,789,533 1,394,767 700 East Minooka Road ........ Minooka, IL 2,748,410 1,374,205 2350 West Orange Blossom Terrace .................... Apopka, FL 2,741,556 1,370,778 501 Beard Avenue ............. Modesto, CA 2,741,556 1,370,778 3874 Bethel Drive Ext ........ High Point, NC 2,724,421 1,362,211 3670 Deer Park Boulevard ..... Elkton, FL 2,673,017 1,336,509 7107 McFarland Boulevard ..... Northport, AL 2,638,748 1,319,374 240 Yardmaster Court ......... Stephenson, VA 2,625,040 1,312,520 1073 Lincoln Avenue .......... North Charleston, SC 2,621,613 1,310,806 11628 McCord Road ............ Huntersville, NC 2,587,343 1,293,672 111 Tennessee Way ............ Hendersonville, TN 2,484,535 1,242,268 200 McAllister Road .......... Burleson, TX 2,467,400 1,233,700 2684 Shafer Road ............. San Benito, TX 2,467,400 1,233,700 10425 Fischer Road ........... Von Ormy, TX 2,467,400 1,233,700 18100 FM Highway 2252 ........ San Antonio (E), TX 2,398,861 1,199,431 295 East Willis Road ......... Chandler, AZ 2,398,861 1,199,431 1780 Carson Road North ....... Fultondale, AL 2,398,861 1,199,431 184 Interstate Drive ......... Richland, MS 2,313,188 1,156,594 601 Derby Line Road .......... Genoa, IL 2,261,784 1,130,892 801 East Lincoln Avenue ...... Hinckley, IL 2,261,784 1,130,892 2187 Stateline Road .......... South Haven, MS 2,261,784 1,130,892 5471 Augusta Road ............ Lexington, SC 2,244,649 1,122,324 5371 Hamilton Blvd ........... Theodore, AL 2,244,649 1,122,324 14200 Lincoln Boulevard ...... Oklahoma City (N), OK 2,227,514 1,113,757 7401 South Sooner Road ....... Oklahoma City (S), OK 2,193,245 1,096,622 3200 Ash Avenue .............. McAllen, TX 2,138,414 1,069,207 170 Commerce Road ............ Piperton, TN 2,124,706 1,062,353 2846 Eblen Road .............. Chattanooga, TN 2,107,571 1,053,786 620 Belt Boulevard ........... Fayetteville, NC 2,107,571 1,053,786 2600 Lowery Street ........... Winston-Salem, NC 2,039,032 1,019,516 595 Alfred Thun Road ......... Clarksville, TN 1,987,628 993,814 134 Wescott Drive ............ Ranson, WV 1,960,213 980,106 85 Industrial Way ............ Highspire, PA 1,884,820 942,410 6828 Bankhead Highway ........ Douglasville, GA 1,850,550 925,275 1380 Franklin Street ......... Rocky Mount, VA 1,370,778 685,389 ------------ ----------- TOTAL/WEIGHTED AVERAGE $150,017,942 $75,008,971 ============ =========== - ------------------------------------------------------------------------------------- ALLOCATED NET WHOLE LOAN APPRAISED YEAR BUILT/ RENTABLE BALANCE APPRAISED VALUE PROPERTY NAME RENOVATED AREA PER SF OCCUPANCY VALUE PER SF - ------------------------------------------------------------------------------------------------------------ 165 South Spruce Avenue ...... 2006 / NA 59,650 $109 100.0% $ 9,510,000 $159 275 East Willis Road ......... 2005 / NA 67,728 $ 81 100.0% 8,000,000 $118 6173 Arizona Farms ........... 2006 / NA 63,120 $ 67 100.0% 6,200,000 $ 98 13285 Fenway Boulevard ....... 2002 / 2005 90,000 $ 43 100.0% 5,700,000 $ 63 7960 Notes Drive ............. 2005 / NA 66,000 $ 58 100.0% 5,590,000 $ 85 200 84 Way ................... 2006 / NA 114,000 $ 33 100.0% 5,500,000 $ 48 101 South Bernard Road ....... 2006 / NA 102,000 $ 36 100.0% 5,380,000 $ 53 3777 CR 544 East ............. 2006 / NA 73,600 $ 48 100.0% 5,200,000 $ 71 436 Powerhouse Street ........ 2006 / NA 70,450 $ 48 100.0% 4,925,000 $ 70 21881 Grenada Avenue ......... 2005 / NA 61,250 $ 53 100.0% 4,750,000 $ 78 550 Quality Center ........... 2006 / NA 70,450 $ 46 100.0% 4,700,000 $ 67 2800 15th Street East ........ 2006 / NA 46,450 $ 68 100.0% 4,600,000 $ 99 108 Madison Oaks Avenue ...... 2006 / NA 64,800 $ 46 100.0% 4,380,000 $ 68 6335 West Integrity Way ...... 2005 / NA 68,050 $ 44 100.0% 4,360,000 $ 64 1893 North Chappel Drive ..... 2006 / NA 66,000 $ 44 100.0% 4,270,000 $ 65 4287 Stough Road ............. 1990 / 2005 86,136 $ 34 100.0% 4,250,000 $ 49 3147 Jim Christal Road ....... 2005 / NA 59,650 $ 48 100.0% 4,200,000 $ 70 2725 East 24th Street ........ 2006 / NA 66,000 $ 44 100.0% 4,200,000 $ 64 3800 Richard Street .......... 2006 / NA 94,450 $ 30 100.0% 4,175,000 $ 44 4802 Roy J. Smith Drive ...... 2006 / NA 66,000 $ 42 100.0% 4,070,000 $ 62 700 East Minooka Road ........ 2006 / NA 58,800 $ 47 100.0% 4,010,000 $ 68 2350 West Orange Blossom Terrace .................... 2005 / NA 40,864 $ 67 100.0% 4,000,000 $ 98 501 Beard Avenue ............. 2005 / NA 59,650 $ 46 100.0% 4,000,000 $ 67 3874 Bethel Drive Ext ........ 2006 / NA 58,450 $ 47 100.0% 3,975,000 $ 68 3670 Deer Park Boulevard ..... 2005 / NA 58,800 $ 45 100.0% 3,900,000 $ 66 7107 McFarland Boulevard ..... 2006 / NA 78,000 $ 34 100.0% 3,850,000 $ 49 240 Yardmaster Court ......... 2006 / NA 83,250 $ 32 100.0% 3,830,000 $ 46 1073 Lincoln Avenue .......... 2005 / NA 57,850 $ 45 100.0% 3,825,000 $ 66 11628 McCord Road ............ 2006 / NA 55,200 $ 47 100.0% 3,775,000 $ 68 111 Tennessee Way ............ 2006 / NA 64,250 $ 39 100.0% 3,625,000 $ 56 200 McAllister Road .......... 2006 / NA 51,250 $ 48 100.0% 3,600,000 $ 70 2684 Shafer Road ............. 2006 / NA 70,450 $ 35 100.0% 3,600,000 $ 51 10425 Fischer Road ........... 2006 / NA 58,450 $ 42 100.0% 3,600,000 $ 62 18100 FM Highway 2252 ........ 2004 / NA 58,450 $ 41 100.0% 3,500,000 $ 60 295 East Willis Road ......... 2005 / NA 27,720 $ 87 100.0% 3,500,000 $126 1780 Carson Road North ....... 2007 / NA 66,000 $ 36 100.0% 3,500,000 $ 53 184 Interstate Drive ......... 2005 / NA 58,450 $ 40 100.0% 3,375,000 $ 58 601 Derby Line Road .......... 2005 / NA 56,950 $ 40 100.0% 3,300,000 $ 58 801 East Lincoln Avenue ...... 2005 / NA 64,750 $ 35 100.0% 3,300,000 $ 51 2187 Stateline Road .......... 2005 / NA 56,400 $ 40 100.0% 3,300,000 $ 59 5471 Augusta Road ............ 2006 / NA 58,450 $ 38 100.0% 3,275,000 $ 56 5371 Hamilton Blvd ........... 2006 / NA 76,700 $ 29 100.0% 3,275,000 $ 43 14200 Lincoln Boulevard ...... 2005 / NA 51,250 $ 43 100.0% 3,250,000 $ 63 7401 South Sooner Road ....... 1980 / 2005 68,800 $ 32 100.0% 3,200,000 $ 47 3200 Ash Avenue .............. 2005 / NA 51,250 $ 42 100.0% 3,120,000 $ 61 170 Commerce Road ............ 2006 / NA 58,450 $ 36 100.0% 3,100,000 $ 53 2846 Eblen Road .............. 2006 / NA 58,450 $ 36 100.0% 3,075,000 $ 53 620 Belt Boulevard ........... 2006 / NA 58,450 $ 36 100.0% 3,075,000 $ 53 2600 Lowery Street ........... 2005 / NA 51,250 $ 40 100.0% 2,975,000 $ 58 595 Alfred Thun Road ......... 2005 / NA 51,250 $ 39 100.0% 2,900,000 $ 57 134 Wescott Drive ............ 2005 / NA 63,600 $ 31 100.0% 2,860,000 $ 45 85 Industrial Way ............ 2005 / NA 53,650 $ 35 100.0% 2,750,000 $ 51 6828 Bankhead Highway ........ 2005 / NA 40,650 $ 46 100.0% 2,700,000 $ 66 1380 Franklin Street ......... 1968 / 2005 76,560 $ 18 100.0% 2,000,000 $ 26 --------- ------------ TOTAL/WEIGHTED AVERAGE 3,458,528 $ 43 100.0% $218,880,000 $ 63 ========= ============ - ------------------------------------------------------------------------------------------------------------ This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 91 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 84 LUMBER INDUSTRIAL POOL - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- TENANT SUMMARY - ----------------------------------------------------------------------------------------------------------------------------- % OF NET BASE ANNUAL BASE TENANT NET RENTABLE AREA RENTABLE AREA RENT PSF RENT OCCUPANCY LEASE EXPIRATION - ----------------------------------------------------------------------------------------------------------------------------- 84 Lumber Company .............. 3,458,528 100% $ 5.18 $17,910,142 100.0% April 2027 --------- --- ------ ----------- ----- TOTAL/WEIGHTED AVERAGE ......... 3,458,528 100% $ 5.18 $17,910,142 100.0% ========= === ====== =========== ===== - ----------------------------------------------------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 92 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 93 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- FORT 1 PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $64,800,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.8% NUMBER OF MORTGAGE LOANS 5 LOAN PURPOSE Acquisition SPONSOR Cole Credit Property Trust II, Inc. TYPE OF SECURITY Fee MORTGAGE RATE 5.550% MATURITY DATE August 11, 2017 AMORTIZATION TYPE Interest-Only ARD INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 120 / IO LOCKBOX* Springing UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX / INSURANCE Springing EDS LEASE TERMINATION ESCROW Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $64,800,000 CUT-OFF DATE BALANCE/SF $48 CUT-OFF DATE LTV 75.0% MATURITY DATE LTV 75.0% UW DSCR ON NCF 1.50x - -------------------------------------------------------------------------------- * A lockbox will be required upon certain conditions as specified in the related Mortgage Loan documents. [PHOTO OF FORT 1 PORTFOLIO] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 5 LOCATION Various PROPERTY TYPE Various SIZE (SF) 1,345,131 OCCUPANCY AS OF JUNE 2007 100.0% YEAR BUILT / YEAR RENOVATED Various / NA APPRAISED VALUE $86,400,000 PROPERTY MANAGEMENT Self-Managed UW ECONOMIC OCCUPANCY 95.9% UW REVENUES $7,583,351 UW TOTAL EXPENSES $2,033,574 UW NET OPERATING INCOME (NOI) $5,549,777 UW NET CASH FLOW (NCF) $5,384,045 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 94 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- FORT 1 PORTFOLIO - -------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------- PORTFOLIO SUMMARY - ---------------------------------------------------------------------------------------- ALLOCATED CUT-OFF NET PROPERTY DATE YEAR RENTABLE PROPERTY NAME TYPE BALANCE BUILT AREA (SF) - ---------------------------------------------------------------------------------------- Circuit City Distribution Center -- Groveland, FL Industrial -- Distribution $20,250,000 1999 706,560 EDS Building -- West Industrial -- Valley, UT Warehouse / Distribution 18,000,000 1993 406,101 Lowe's Home Improvement Store -- Cincinnati, OH Retail -- Single Tenant 13,800,000 1998 129,044 Kohl's -- Lake Zurich, IL Retail -- Single Tenant 9,075,000 2000 88,306 Walgreens -- Fort Worth, TX Retail -- Single Tenant 3,675,000 1999 15,120 ----------- --------- TOTAL / AVERAGE $64,800,000 1,345,131 =========== ========= - ---------------------------------------------------------------------------------------- CUT-OFF DATE UNDERWRITTEN APPRAISED BALANCE UNDERWRITTEN NET CASH APPRAISED VALUE PROPERTY NAME PER SF OCCUPANCY OCCUPANCY FLOW VALUE PER SF - ------------------------------------------------------------------------------------------------------- Circuit City Distribution Center -- Groveland, FL $ 29 100% 95.0% $1,605,015 $27,000,000 $ 38 EDS Building -- West Valley, UT $ 44 100% 95.0% 1,499,890 24,000,000 $ 59 Lowe's Home Improvement Store -- Cincinnati, OH $107 100% 100.0% 1,196,733 18,400,000 $143 Kohl's -- Lake Zurich, IL $103 100% 100.0% 782,157 12,100,000 $137 Walgreens -- Fort Worth, TX $243 100% 100.0% 300,250 4,900,000 $324 ---------- ----------- TOTAL / AVERAGE $ 48 100% 95.9% $5,384,045 $86,400,000 $ 64 ========== =========== - ------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- PORTFOLIO TENANT SUMMARY - -------------------------------------------------------------------------------------- % OF NET RATINGS* NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - -------------------------------------------------------------------------------------- MAJOR TENANTS Circuit City Stores, Inc. ............ NR/NR/NR 706,560 52.5% EDS Information Services, L.L.C. ..... BBB-/Ba1/BBB- 406,101 30.2 Lowe's Home Center, Inc. ............. A+/A1/A+ 129,044 9.6 Kohl's Department Stores, Inc. ....... A/A3/A- 88,306 6.6 Walgreen Co. ......................... NR/Aa3/A+ 15,120 1.1 --------- ----- TOTAL MAJOR TENANTS .................. 1,345,131 100.0% NON-MAJOR TENANTS ..................... 0 0.0 --------- ----- OCCUPIED TOTAL ........................ 1,345,131 100.0% VACANT SPACE .......................... 0 0.0 --------- ----- PROPERTY TOTAL ........................ 1,345,131 100.0% ========= ===== - -------------------------------------------------------------------------------------- ANNUAL % OF BASE BASE TOTAL ANNUAL LEASE TENANT RENT PSF RENT BASE RENT EXPIRATION - ----------------------------------------------------------------------------------------------- MAJOR TENANTS Circuit City Stores, Inc. ............ $ 2.59 $1,830,075 31.2% August 2021 EDS Information Services, L.L.C. ..... $ 4.17 1,692,689 28.9 July 2016 Lowe's Home Center, Inc. ............. $ 9.51 1,227,509 21.0 February 2019 Kohl's Department Stores, Inc. ....... $ 9.07 800,902 13.7 August 2020 Walgreen Co. ......................... $20.23 305,842 5.2 November 2059 ---------- ----- TOTAL MAJOR TENANTS .................. $ 4.35 $5,857,017 100.0% NON-MAJOR TENANTS ..................... $ 0.00 0 0.0 ---------- ----- OCCUPIED TOTAL ........................ $ 4.35 $5,857,017 100.0% ========== ===== VACANT SPACE .......................... PROPERTY TOTAL ........................ - ----------------------------------------------------------------------------------------------- * Certain ratings are those of the parent whether or not the parent guarantees the lease. - --------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - --------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % % OF BASE CUMULATIVE % # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF OF SF RENT OF BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* EXPIRING* - --------------------------------------------------------------------------------------------------------- 2016 1 $ 4.17 406,101 30.2% 30.2% 28.9% 28.9% 2017 0 $ 0.00 0 0.0% 30.2% 0.0% 28.9% 2018 0 $ 0.00 0 0.0% 30.2% 0.0% 28.9% 2019 1 $ 9.51 129,044 9.6% 39.8% 21.0% 49.9% 2020 1 $ 9.07 88,306 6.6% 46.3% 13.7% 63.5% 2021 1 $ 2.59 706,560 52.5% 98.9% 31.2% 94.8% 2059 1 $20.23 15,120 1.1% 100.0% 5.2% 100.0% Thereafter 0 $ 0.00 0 0.0% 100.0% 0.0% 100.0% Vacant 0 NA 0 0.0% 100.0% 0.0% 100.0% - --------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 95 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- EXCHANGE BUILDING - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Nomura CUT-OFF DATE BALANCE $62,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.7% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Exchange Building VAF, LLC TYPE OF SECURITY Fee MORTGAGE RATE 5.615% MATURITY DATE May 11, 2014 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 84 ORIGINAL TERM / AMORTIZATION 84 / IO REMAINING TERM / AMORTIZATION 81 / IO LOCKBOX Yes UP-FRONT RESERVES TI / LC $2,800,000 INTEREST RESERVE(1) $1,000,000 BASE BUILDING RESERVE $2,000,000 ONGOING ANNUAL RESERVES TAX / INSURANCE Springing TI / LC(2) Yes REPLACEMENT(3) Springing ADDITIONAL FINANCING(4) None CUT-OFF DATE BALANCE $62,500,000 CUT-OFF DATE BALANCE/SF $203 CUT-OFF DATE LTV 77.5% MATURITY DATE LTV 77.5% UW DSCR ON NCF 1.32x - -------------------------------------------------------------------------------- (1) At origination, $1,000,000 was escrowed to fund an Interest Reserve to be held by the mortgagee. The borrower will not be able to draw down on said funds until October 1, 2007 ("Drawdown Date"). At the Drawdown Date, funds will be disbursed to borrower upon request to be applied toward the monthly debt service payment based on the following conditions: (i) no event of default, and (ii) on a monthly basis borrower may draw the difference between the actual property cashflows and the monthly debt service in an amount not to exceed $100,000, Once the Underwritten Net Cashflow supports a 1.10x DSC ratio based on the actual loan constant (exclusive of the Interest Reserve), any remaining funds in the Interest Reserve will be released to borrower. (2) At origination, $2,800,000 was escrowed to fund a TI / LC Reserve to be held by the mortgagee. If the TI / LC Reserve falls under $1,000,000 and an event of default exists, the Borrower shall pay to the mortgagee annual deposits to the TI / LC Reserve in an amount equal to approximately $295,820 up to a cap of $1,500,000. (3) Upon an event of default, the borrower shall pay to the mortgagee annual deposits into the Replacement Reserve in favor of the mortgagee in the amount equal to approximately $128,333. (4) Future mezzanine debt is permitted subject to: (i) combined LTV ratio shall not exceed 77.5%, (ii) aggregate DSC ratio shall not be less than 1.15x, (iii) an intercreditor agreement acceptable to the mortgagee, and (iv) other conditions as specified in the related Mortgage Loan documents. [3 PHOTOS OF EXCHANGE BUILDING] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Seattle, WA PROPERTY TYPE Office -- CBD SIZE (SF) 308,129 OCCUPANCY AS OF MARCH 31, 2007 95.5% YEAR BUILT / YEAR RENOVATED 1929 / 2001 APPRAISED VALUE $80,600,000 PROPERTY MANAGEMENT Ashforth Pacific, Inc. UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $7,459,382 UW TOTAL EXPENSES $2,459,684 UW NET OPERATING INCOME (NOI) $4,999,697 UW NET CASH FLOW (NCF) $4,704,417 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 96 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- EXCHANGE BUILDING - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- TENANT SUMMARY - -------------------------------------------------------------------------------- % OF NET RATINGS(1) NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - -------------------------------------------------------------------------------- MAJOR TENANTS King County(2) ................. AAA/Aaa/AAA 114,072 37.0% aQuantive, Inc.(3) ............. NR/NR/NR 76,088 24.7 PAR3 Communications, Inc ....... NR/NR/NR 38,115 12.4 ------- ----- TOTAL MAJOR TENANTS ............ 228,275 74.1% NON-MAJOR TENANTS ................ 65,890 21.4 ------- ----- OCCUPIED TOTAL ................... 294,165 95.5% VACANT SPACE ..................... 13,964 4.5 ------- ----- PROPERTY TOTAL ................... 308,129 100.0% ======= ===== - -------------------------------------------------------------------------------- % OF TOTAL BASE RENT ANNUAL BASE TENANT PSF ANNUAL BASE RENT RENT LEASE EXPIRATION - ----------------------------------------------------------------------------------------------------- MAJOR TENANTS King County(2) ................. $ 30.90 $3,524,710 47.2% September 2007 aQuantive, Inc.(3) ............. $ 23.02 1,751,639 23.5 September 2012 PAR3 Communications, Inc ....... $ 23.15 882,482 11.8 Multiple Spaces(4) ---------- ----- TOTAL MAJOR TENANTS ............ $ 26.98 $6,158,830 82.5% NON-MAJOR TENANTS ................ $ 19.85 1,308,029 17.5 ---------- ----- OCCUPIED TOTAL ................... $ 25.38 $7,466,860 100.0% ========== ===== VACANT SPACE ..................... PROPERTY TOTAL ................... - ----------------------------------------------------------------------------------------------------- (1) Certain ratings are those of the parent company whether or not the parent company guarantees the lease. (2) Borrower is in discussion with various tenants to lease the majority of the King County space at rents ranging from $31.00 to $36.00 per square foot. (3) aQuantive, Inc. is being acquired by Microsoft Corporation. (4) Under the terms of multiple leases, approximately 30,712 square feet expire in June 2013 and approximately 7,403 square feet expire in December 2007. - --------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - --------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % % OF BASE CUMULATIVE % # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF OF SF RENT OF BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* EXPIRING* - --------------------------------------------------------------------------------------------------------- 2007 12 $30.56 122,343 39.7% 39.7% 50.1% 50.1% 2008 1 $26.87 434 0.1% 39.8% 0.2% 50.2% 2009 0 $ 0.00 0 0.0% 39.8% 0.0% 50.2% 2010 3 $21.63 18,395 6.0% 45.8% 5.3% 55.6% 2011 10 $24.39 29,305 9.5% 55.3% 9.6% 65.1% 2012 6 $23.02 76,088 24.7% 80.0% 23.5% 88.6% 2013 10 $22.47 30,712 10.0% 90.0% 9.2% 97.8% 2014 0 $ 0.00 0 0.0% 90.0% 0.0% 97.8% 2015 2 $ 9.62 16,888 5.5% 95.5% 2.2% 100.0% 2016 0 $ 0.00 0 0.0% 95.5% 0.0% 100.0% 2017 0 $ 0.00 0 0.0% 95.5% 0.0% 100.0% Thereafter 0 $ 0.00 0 0.0% 95.5% 0.0% 100.0% Vacant 0 NA 13,964 4.5% 100.0% 0.0% 100.0% - -------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 97 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- NORDIC COLD STORAGE POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE(1) $55,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR(2) Corporate Property Associates 16-Global Incorporated TYPE OF SECURITY Fee PARTIAL RELEASE / SUBSTITION(3) Yes MORTGAGE RATE 5.980% MATURITY DATE March 1, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 115 / 360 LOCKBOX Hard UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX / INSURANCE(4) Springing REPLACEMENT(5) Springing TI / LC(5) Springing ADDITIONAL FINANCING B-Note $10,000,000 TRUST ASSET MORTGAGE LOAN ----------- ------------- CUT-OFF DATE BALANCE $55,500,000 $65,500,000 CUT-OFF DATE BALANCE / SF $42 $50 CUT-OFF DATE LTV 62.9% 74.2% MATURITY DATE LTV 58.8% 69.4% UW DSCR ON NCF 1.45x 1.23x - -------------------------------------------------------------------------------- (1) The total balance of the Nordic Cold Storage Pool loan is $65,500,000 as of the Cut-Off Date ("Whole Loan") and consists of a senior A Note with a Cut-Off Date Balance of $55,500,000 and a subordinate B Note with a Cut-Off Date Balance of $10,000,000. Unless otherwise specified, all DSC ratio, LTV ratio and other calculations with respect to the Nordic Cold Storage Loan are based on the A Note and exclude the B Note. (2) Affiliates of the sponsor are subjects of an SEC investigation. For more information, see "Risk Factors--Litigation May Have Adverse Effect on Borrowers" in the prospectus supplement. (3) The Nordic Cold Storage Pool Loan allows for release of a Mortgaged Property through partial defeasance after expiration of a lock-out period, subject to certain conditions including, but not limited to: (i) a portion of the Mortgage Loan is defeased in the amount of 120% of the allocated loan amount, (ii) a minimum DSC ratio of 1.25x, and (iii) a maximum LTV ratio of 80%. The borrower will also have the one time ability during the loan term to substitute one Mortgaged Property subject to certain conditions including, but not limited to: (i) a minimum DSC ratio of 1.25x and (ii) a maximum LTV ratio of 75% on the remaining collateral. In addition, the borrower is permitted to release a portion of the Rockmart parcel comprising vacant land as to which no value was attributed. (4) Monthly tax and insurance reserves will be waived so long as the current tenant (or a replacement tenant) is required to pay the real estate taxes and insurance premiums directly pursuant to its lease. (5) Ongoing replacement reserves of $327,780 per annum, and TI / LC reserves of $130,653 per annum, will be required upon so long as the current tenant (or a replacement tenant) is responsible for replacements or tenant improvements, as applicable, under its lease. [PHOTO OF NORDIC COLD STORAGE POOL] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 3 LOCATION Doraville, Atlanta, Rockmart in GA PROPERTY TYPE Industrial SIZE (SF) 1,306,533 OCCUPANCY AS OF AUGUST 1, 2007 100.0% YEAR BUILT / YEAR RENOVATED Various / Various APPRAISED VALUE $88,300,000 PROPERTY MANAGEMENT Owner-Managed UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $6,983,570 UW TOTAL EXPENSES $740,576 UW NET OPERATING INCOME (NOI) $6,242,994 UW NET CASH FLOW (NCF) $5,776,465 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 98 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- NORDIC COLD STORAGE POOL - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ POOL SUMMARY - ------------------------------------------------------------------------------------------------------------------------------------ ALLOCATED ALLOCATED LOAN CUT-OFF DATE NET A-NOTE APPRAISED A-NOTE YEAR BUILT/ RENTABLE BALANCE APPRAISED VALUE PROPERTY NAME LOCATION BALANCE RENOVATED AREA PER SF OCCUPANCY VALUE PER SF - ------------------------------------------------------------------------------------------------------------------------------------ 4300 Pleasantdale Road ..... Doraville, GA $29,995,420 1962 / 2004 853,577 $35 100.0% $47,700,000 $ 56 1802 Rome Highway .......... Rockmart, GA 20,174,885 1991 / 2002 280,800 $72 100.0% 32,100,000 $114 3485 Empire Boulevard ...... Atlanta, GA 5,329,695 1959 / 2001 172,156 $31 100.0% 8,500,000 $ 49 ----------- --------- ----------- TOTAL/WEIGHTED AVERAGE ..... 55,500,000 1,306,533 $42 100.0% 88,300,000 $ 68 - ------------------------------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------- TENANT SUMMARY - ----------------------------------------------------------------------------------------------------- NET % OF NET RENTABLE RENTABLE BASE ANNUAL TENANT AREA AREA RENT PSF BASE RENT OCCUPANCY LEASE EXPIRATION - ----------------------------------------------------------------------------------------------------- Nordic Cold Storage LLC 1,306,533 100% $ 4.79 $6,258,293 100.0% February 2027 - ----------------------------------------------------------------------------------------------------- TOTAL/WEIGHTED AVERAGE 1,306,533 100% $ 4.79 $6,258,293 100.0% - ----------------------------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 99 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 79 MADISON AVENUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $55,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Kenneth Carmel TYPE OF SECURITY Fee MORTGAGE RATE 6.250% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 119 / IO LOCKBOX Yes UP-FRONT RESERVES TAX / INSURANCE Yes ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT(1) $35,065 ADDITIONAL FINANCING(2) None CUT-OFF DATE BALANCE $55,000,000 CUT-OFF DATE BALANCE/SF $220 CUT-OFF DATE LTV 54.8% MATURITY DATE LTV 54.8% UW DSCR ON NCF 1.47x - -------------------------------------------------------------------------------- (1) Deposits to the replacement reserve are required to maintain a balance of $105,194 throughout the term of the Mortgage Loan. (2) Future mezzanine debt is permitted subject to certain conditions including an aggregate DSC ratio of no less than 1.20x, an aggregate LTV ratio of no more than 80.0% and certain other conditions as specified in the related Mortgage Loan documents. [PHOTO OF 79 MADISON AVENUE] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION New York, NY PROPERTY TYPE Office - CBD SIZE (SF) 250,463 OCCUPANCY AS OF JULY 1, 2007 100.0% YEAR BUILT / YEAR RENOVATED 1925 / 2005 APPRAISED VALUE $100,300,000 PROPERTY MANAGEMENT Williams U.S.A. Realty Services, Inc. UW ECONOMIC OCCUPANCY 97.0% UW REVENUES $10,022,231 UW TOTAL EXPENSES $4,740,506 UW NET OPERATING INCOME (NOI) $5,281,725 UW NET CASH FLOW (NCF) $5,056,228 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 100 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 79 MADISON AVENUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- TENANT SUMMARY - -------------------------------------------------------------------------------- NET % OF NET RATINGS RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - -------------------------------------------------------------------------------- MAJOR TENANTS Manning Salvage & Lee Inc. .......... NR/NR/NR 88,446 35.3% F. Schumacher & Co. ................. NR/NR/NR 70,865 28.3 Ted Moudis Associates Inc. .......... NR/NR/NR 32,000 12.8 Morris Visitor Publications ......... NR/NR/NR 16,000 6.4 Wind-Up Entertainment Inc. .......... NR/NR/NR 16,000 6.4 Prana Restaurant LLC ................ NR/NR/NR 14,935 6.0 ------- ----- TOTAL MAJOR TENANTS ................ 238,246 95.1% NON-MAJOR TENANTS ................... 12,217 4.9 ------- ----- OCCUPIED TOTAL ...................... 250,463 100.0% VACANT SPACE ........................ 0 0.0 ------- ----- PROPERTY TOTAL ...................... 250,463 100.0% ======= ===== - -------------------------------------------------------------------------------- % OF TOTAL BASE ANNUAL ANNUAL LEASE TENANT RENT PSF BASE RENT BASE RENT EXPIRATION - ------------------------------------------------------------------------------------------ MAJOR TENANTS Manning Salvage & Lee Inc. .......... $ 36.14 $3,196,311 37.3% March 2013 F. Schumacher & Co. ................. $ 26.50 1,877,923 21.9 April 2010 Ted Moudis Associates Inc. .......... $ 31.70 1,014,320 11.8 July 2016 Morris Visitor Publications ......... $ 33.83 541,200 6.3 December 2016 Wind-Up Entertainment Inc. .......... $ 36.90 590,400 6.9 May 2017 Prana Restaurant LLC ................ $ 44.83 669,500 7.8 January 2022 ---------- ----- TOTAL MAJOR TENANTS ................ $ 33.12 $7,889,654 92.1% NON-MAJOR TENANTS ................... $ 55.67 680,131 7.9 ---------- ----- OCCUPIED TOTAL ...................... $ 34.22 $8,569,785 100.0% ========== ===== VACANT SPACE ........................ PROPERTY TOTAL ...................... - ------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - --------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % % OF BASE CUMULATIVE % # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF OF SF RENT OF BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* EXPIRING* - --------------------------------------------------------------------------------------------------------- 2007 4 $73.24 4,619 1.8% 1.8% 3.9% 3.9% 2008 0 $ 0.00 0 0.0% 1.8% 0.0% 3.9% 2009 0 $ 0.00 0 0.0% 1.8% 0.0% 3.9% 2010 1 $26.50 70,865 28.3% 30.1% 21.9% 25.9% 2011 0 $ 0.00 0 0.0% 30.1% 0.0% 25.9% 2012 0 $ 0.00 0 0.0% 30.1% 0.0% 25.9% 2013 3 $36.14 88,446 35.3% 65.5% 37.3% 63.2% 2014 1 $75.50 737 0.3% 65.7% 0.6% 63.8% 2015 0 $ 0.00 0 0.0% 65.7% 0.0% 63.8% 2016 2 $32.41 48,000 19.2% 84.9% 18.2% 82.0% 2017 1 $36.90 16,000 6.4% 91.3% 6.9% 88.8% Thereafter 2 $43.85 21,796 8.7% 100.0% 11.2% 100.0% Vacant 0 NA 0 0.0% 100.0% 0.0% 100.0% - --------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 101 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAN PALACIO APARTMENT HOMES - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $45,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.2% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR La Terraza, LLC TYPE OF SECURITY Fee MORTGAGE RATE 5.730% MATURITY DATE June 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 118 / IO LOCKBOX None UP-FRONT RESERVES TAX Yes ONGOING ANNUAL RESERVES TAX Yes INSURANCE Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $45,000,000 CUT-OFF DATE BALANCE/UNIT $127,841 CUT-OFF DATE LTV 77.6% MATURITY DATE LTV 77.6% UW DSCR ON NCF 1.21x - -------------------------------------------------------------------------------- [PHOTO OF SAN PALACIO APARTMENT HOMES] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Chandler, AZ PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 352 OCCUPANCY AS OF JULY 20, 2007 93.8% YEAR BUILT / YEAR RENOVATED 2005 / NA APPRAISED VALUE $58,000,000 PROPERTY MANAGEMENT Mark - Taylor Residential Inc. UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $4,438,253 UW TOTAL EXPENSES $1,244,524 UW NET OPERATING INCOME (NOI) $3,193,729 UW NET CASH FLOW (NCF) $3,123,329 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 102 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- SAN PALACIO APARTMENT HOMES - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- UNIT MIX - ----------------------------------------------------------------------------------------------------------------------------------- UNIT MIX NO. OF UNITS APPROXIMATE UNIT SIZE (SF) APPROXIMATE NRA (SF) % OF NRA MARKET RENT - ----------------------------------------------------------------------------------------------------------------------------------- 1 BR/ 1 BA ...................... 64 689 44,096 13.5% $850 1 BR/ 1 BA ...................... 64 708 45,312 13.9 $875 2 BR/ 2 BA ...................... 44 1,001 44,044 13.5 $1,045 2 BR/ 2 BA ...................... 44 1,020 44,880 13.7 $1,055 2 BR/ 2 BA ...................... 44 1,019 44,836 13.7 $1,060 2 BR/ 2 BA ...................... 44 1,038 45,672 14.0 $1,050 3 BR/ 2 BA ...................... 24 1,190 28,560 8.7 $1,410 3 BR/ 2 BA ...................... 24 1,209 29,016 8.9 $1,410 --- ------ ----- TOTAL/WEIGHTED AVERAGE ......... 352 927 326,416 100.0% $1,032/$1.11/SF === ======= ===== - ----------------------------------------------------------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 103 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 560 BROADWAY - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $40,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.1% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Jeffrey Gural TYPE OF SECURITY Fee MORTGAGE RATE 5.910% MATURITY DATE June 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 118 / IO LOCKBOX None UP-FRONT RESERVES TAX Yes ONGOING ANNUAL RESERVES TAX Yes INSURANCE Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $40,000,000 CUT-OFF DATE BALANCE/SF $310 CUT-OFF DATE LTV 41.8% MATURITY DATE LTV 41.8% UW DSCR ON NCF* 1.87x - -------------------------------------------------------------------------------- [PHOTO OF 560 BROADWAY] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION New York, NY PROPERTY TYPE Office -- CBD SIZE (SF) 128,956 OCCUPANCY AS OF MAY 15, 2007 100.0% YEAR BUILT / YEAR RENOVATED 1890 / 1985 APPRAISED VALUE $95,600,000 PROPERTY MANAGEMENT Newmark & Company Real Estate Inc. UW ECONOMIC OCCUPANCY 96.0% UW REVENUES $7,187,779 UW TOTAL EXPENSES $2,615,367 UW NET OPERATING INCOME (NOI) $4,572,411 UW NET CASH FLOW (NCF)* $4,423,986 - -------------------------------------------------------------------------------- * The UW NCF, yielding the 1.87x DSC ratio, was based upon the rent that Dean & Deluca will begin paying October 1, 2008. Based upon a newly executed lease, Dean & Deluca occupies approximately 10,310 square feet of ground floor retail space at a current base rent of $59.46 per square foot; however, the base rent under the lease increases to $242.48 per square foot as of October 1, 2008. Based upon the current Dean & Deluca rent, the "as-is" DSC ratio for the Mortgage Loan is 1.23x. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 104 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- 560 BROADWAY - -------------------------------------------------------------------------------- - --------------------------------------------------------------------------------- TENANT SUMMARY - --------------------------------------------------------------------------------- % OF NET RATINGS NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - --------------------------------------------------------------------------------- MAJOR TENANTS Dean & Deluca New York ............. NR/NR/NR 12,560 9.7% Devachan Salon and Spa, Inc. ....... NR/NR/NR 9,250 7.2 Ann Taylor Retail Inc. ............. NR/NR/NR 7,000 5.4 Zorbit, Inc. ....................... NR/NR/NR 6,100 4.7 The Huffingtonpost.com ............. NR/NR/NR 5,950 4.6 ------- ----- TOTAL MAJOR TENANTS ............... 40,860 31.7% NON-MAJOR TENANTS .................. 88,096 68.3 ------- ----- OCCUPIED TOTAL ..................... 128,956 100.0% VACANT SPACE ....................... 0 0.0 ------- ----- PROPERTY TOTAL ..................... 128,956 100.0% ======= ===== - --------------------------------------------------------------------------------- ANNUAL % OF BASE BASE TOTAL ANNUAL LEASE TENANT RENT PSF RENT BASE RENT EXPIRATION - ------------------------------------------------------------------------------------------------- MAJOR TENANTS Dean & Deluca New York ............. $ 204.55 $2,569,167 39.4% Multiple Spaces(1) Devachan Salon and Spa, Inc. ....... $ 12.20 112,892 1.7 Multiple Spaces(2) Ann Taylor Retail Inc. ............. $ 60.66 424,613 6.5 January 2015 Zorbit, Inc. ....................... $ 39.95 243,695 3.7 October 2011 The Huffingtonpost.com ............. $ 42.35 252,000 3.9 Multiple Spaces(3) ---------- ----- TOTAL MAJOR TENANTS ............... $ 88.16 $3,602,367 55.2% NON-MAJOR TENANTS .................. $ 33.20 2,924,347 44.8 ---------- ----- OCCUPIED TOTAL ..................... $ 50.61 $6,526,714 100.0% ========== ===== VACANT SPACE ....................... PROPERTY TOTAL ..................... - ------------------------------------------------------------------------------------------------- (1) Under the terms of multiple leases, approximately 2,250 square feet of office space, at a rental rate of $30.74 per square foot, expire in September 2008, and approximately 10,310 square feet of ground floor retail space expire in September 2023. The current rental rate for approximately 10,310 square foot retail space is $59.46 per square foot, with a contractual rent step as of October 1, 2008 to $242.48 per square foot. The base rent per square foot of $204.55 shown above, is equal to the weighted average for the current office rent and the retail rent payable as of October 1, 2008. (2) Under the terms of multiple leases, approximately 1,250 square feet expire on a month-to-month basis and approximately 8,000 square feet expire in January 2015. (3) Under the terms of multiple leases, approximately 2,450 square feet expire in January 2012 and approximately 3,500 square feet expire in May 2014. - ------------------------------------------------------------------------------------------------------------------------------ LEASE EXPIRATION SCHEDULE - ------------------------------------------------------------------------------------------------------------------------------ CUMULATIVE % OF # OF LEASES WA BASE RENT/SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF % OF BASE RENT BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* SF EXPIRING* EXPIRING* EXPIRING* - ------------------------------------------------------------------------------------------------------------------------------ 2007 7 $ 33.40 18,049 14.0% 14.0% 9.2% 9.2% 2008 8 $ 32.68 15,766 12.2% 26.2% 7.9% 17.1% 2009 5 $ 36.67 10,480 8.1% 34.3% 5.9% 23.0% 2010 7 $ 31.54 24,530 19.0% 53.4% 11.9% 34.9% 2011 5 $ 35.09 13,921 10.8% 64.2% 7.5% 42.4% 2012 4 $ 35.73 8,800 6.8% 71.0% 4.8% 47.2% 2013 1 $ 31.46 1,825 1.4% 72.4% 0.9% 48.1% 2014 2 $ 37.39 6,275 4.9% 77.3% 3.6% 51.6% 2015 2 $ 33.91 15,000 11.6% 88.9% 7.8% 59.4% 2016 1 $ 36.77 4,000 3.1% 92.0% 2.3% 61.7% 2017 0 $ 0.00 0 0.0% 92.0% 0.0% 61.7% Thereafter 1 $242.48 10,310 8.0% 100.0% 38.3% 100.0% Vacant 0 NA 0 0.0% 100.0% 0.0% 100.0% - ------------------------------------------------------------------------------------------------------------------------------ * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 105 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- VILLAGE SHOPPES AT CREEKSIDE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $39,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.1% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Carlton Cabot TYPE OF SECURITY Fee MORTGAGE RATE 5.720% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 119 / 360 LOCKBOX Yes UP-FRONT RESERVES TAX/INSURANCE Yes TI / LC $1,125,000 REPLACEMENT $75,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT $21,272 TI / LC(1) Springing ADDITIONAL FINANCING(2) None CUT-OFF DATE BALANCE $39,500,000 CUT-OFF DATE BALANCE/SF $186 CUT-OFF DATE LTV 77.3% MATURITY DATE LTV 72.0% UW DSCR ON NCF 1.26x - -------------------------------------------------------------------------------- (1) In the event the TI/LC Reserve balance is less than $700,000, the borrower is required to make deposits at an annual rate of $85,088, until $700,000 is achieved. (2) Future mezzanine debt, secured by interests in the Master Tenant (as defined in the related Mortgage Loan documents), is permitted, subject to certain conditions including but not limited to: (i) an aggregate debt service coverage ratio of no less than 1.25x, (ii) the aggregate loan-to-value ratio shall not exceed 80.0% and (iii) certain other conditions as specified in the related Mortgage Loan Documents. [PHOTO OF VILLAGE SHOPPES AT CREEKSIDE] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Lawrenceville, GA PROPERTY TYPE Retail - Anchored SIZE (SF) 212,722 OCCUPANCY AS OF MAY 14, 2007 99.2% YEAR BUILT / YEAR RENOVATED 2006 / NA APPRAISED VALUE $51,100,000 PROPERTY MANAGEMENT Jones Lang Lasalle Americas, Inc. UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $4,650,090 UW TOTAL EXPENSES $1,110,013 UW NET OPERATING INCOME (NOI) $3,540,077 UW NET CASH FLOW (NCF) $3,480,262 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 106 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- VILLAGE SHOPPES AT CREEKSIDE - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- TENANT SUMMARY - ------------------------------------------------------------------------------------------------------------------------------- RATINGS* % OF NET ANNUAL % OF FITCH/ NET RENTABLE RENTABLE BASE BASE TOTAL ANNUAL LEASE TENANT MOODY'S/S&P AREA (SF) AREA RENT PSF RENT BASE RENT EXPIRATION - ------------------------------------------------------------------------------------------------------------------------------- MAJOR TENANTS Gold's Gym .................. NR/NR/NR 30,000 14.1% $ 7.50 $ 225,000 5.9% July 2017 Staples ..................... BBB+/Baa1/BBB+ 20,350 9.6 $12.50 254,375 6.7 December 2021 Grand Harbour Import ........ NR/NR/NR 15,000 7.1 $ 9.75 146,250 3.9 December 2013 Concentra ................... NR/NR/NR 10,982 5.2 $ 8.24 90,492 2.4 June 2017 Process Institute ........... NR/NR/NR 9,500 4.5 $14.75 140,125 3.7 January 2017 ------ ----- ---------- ----- TOTAL MAJOR TENANTS ........ 85,832 40.3% $ 9.98 $ 856,242 22.6% NON-MAJOR TENANTS ........... 125,090 58.8 $23.41 2,928,750 77.4 ------- ----- ---------- ----- OCCUPIED TOTAL .............. 210,922 99.2% $17.94 $3,784,992 100.0% ========== ===== VACANT SPACE ................ 1,800 0.8 ------- ----- PROPERTY TOTAL .............. 212,722 100.0% ======= ===== - ------------------------------------------------------------------------------------------------------------------------------- * Certain ratings are those of the parent whether or not the parent guarantees the lease. - ------------------------------------------------------------------------------------------------------------------------------ LEASE EXPIRATION SCHEDULE - ------------------------------------------------------------------------------------------------------------------------------ CUMULATIVE % OF # OF LEASES WA BASE RENT/SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF % OF BASE RENT BASE RENT YEAR EXPIRING EXPIRING EXPIRING EXPIRING* SF EXPIRING* EXPIRING* EXPIRING* - ------------------------------------------------------------------------------------------------------------------------------ 2011 1 $24.00 1,500 0.7% 0.7% 1.0% 1.0% 2012 44 $22.52 107,499 50.5% 51.2% 64.0% 64.9% 2013 1 $ 9.75 15,000 7.1% 58.3% 3.9% 68.8% 2014 1 $23.00 5,350 2.5% 60.8% 3.3% 72.0% 2015 0 $ 0.00 0 0.0% 60.8% 0.0% 72.0% 2016 1 $30.00 2,400 1.1% 61.9% 1.9% 73.9% 2017 4 $ 9.35 51,682 24.3% 86.2% 12.8% 86.7% Thereafter 3 $18.30 27,491 12.9% 99.2% 13.3% 100.0% Vacant 0 NA 1,800 0.8% 100.0% 0.0% 100.0% - ------------------------------------------------------------------------------------------------------------------------------ * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 107 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE LION BUILDING - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $33,600,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 0.9% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition BlackRock Realty and Core SPONSOR Plus Properties TYPE OF SECURITY Fee MORTGAGE RATE 5.794% MATURITY DATE June 11, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 58 / IO LOCKBOX None UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX/INSURANCE Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $33,600,000 CUT-OFF DATE BALANCE/SF $230 CUT-OFF DATE LTV 54.2% MATURITY DATE LTV 54.2% UW DSCR ON NCF 1.31x - -------------------------------------------------------------------------------- [PHOTO OF THE LION BUILDING] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Washington, DC PROPERTY TYPE Office -- CBD SIZE (SF) 146,298 OCCUPANCY AS OF MAY 31, 2007 99.8% YEAR BUILT / YEAR RENOVATED 1984 / 2004 APPRAISED VALUE $62,000,000 PROPERTY MANAGEMENT Core Plus Services, LLC UW ECONOMIC OCCUPANCY 94.0% UW REVENUES $5,393,226 UW TOTAL EXPENSES $2,340,776 UW NET OPERATING INCOME (NOI) $3,052,450 UW NET CASH FLOW (NCF) $2,553,255 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 108 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- THE LION BUILDING - -------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- TENANT SUMMARY - ------------------------------------------------------------------------------------- % OF NET RATINGS NET RENTABLE RENTABLE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA - ------------------------------------------------------------------------------------- MAJOR TENANTS Bonner Kiernan Trebach ................. NR/NR/NR 28,697 19.6% Interface Video Systems, Inc. .......... NR/NR/NR 26,117 17.9 Embassy of the Socialist Republic of Vietnam .............................. NR/NR/NR 13,014 8.9 College Entrance Examination ........... NR/NR/NR 12,613 8.6 Rader Fishman & Grauer ................. NR/NR/NR 11,584 7.9 Center For Individual Rights ........... NR/NR/NR 6,766 4.6 ------ ----- TOTAL MAJOR TENANTS ................... 98,791 67.5% NON-MAJOR TENANTS ...................... 47,193 32.3 ------ ----- OCCUPIED TOTAL ......................... 145,984 99.8% VACANT SPACE ........................... 314 0.2 ------- ----- PROPERTY TOTAL ......................... 146,298 100.0% ======= ===== - ------------------------------------------------------------------------------------- % OF TOTAL BASE RENT ANNUAL ANNUAL BASE LEASE TENANT PSF BASE RENT RENT EXPIRATION - ----------------------------------------------------------------------------------------------- MAJOR TENANTS Bonner Kiernan Trebach ................. $ 38.43 $1,102,826 22.1% March 2016 Interface Video Systems, Inc. .......... $ 26.96 704,114 14.1 December 2010 Embassy of the Socialist Republic of Vietnam .............................. $ 36.02 468,812 9.4 August 2008 College Entrance Examination ........... $ 38.21 481,925 9.7 October 2013 Rader Fishman & Grauer ................. $ 36.54 423,276 8.5 August 2008 Center For Individual Rights ........... $ 36.00 243,576 4.9 October 2016 ---------- ----- TOTAL MAJOR TENANTS ................... $ 34.66 $3,424,529 68.6% NON-MAJOR TENANTS ...................... $ 33.22 1,567,978 31.4 ---------- ----- OCCUPIED TOTAL ......................... $ 34.20 $4,992,508 100.0% ========== ===== VACANT SPACE ........................... PROPERTY TOTAL ......................... - ----------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - -------------------------------------------------------------------------------------------------------------------------- WA BASE CUMULATIVE % OF CUMULATIVE # OF LEASES RENT/SF TOTAL SF % OF TOTAL SF % OF SF BASE RENT % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - -------------------------------------------------------------------------------------------------------------------------- 2007 4 $30.47 5,238 3.6% 3.6% 3.2% 3.2% 2008 9 $35.17 32,466 22.2% 25.8% 22.9% 26.1% 2009 6 $35.23 18,317 12.5% 38.3% 12.9% 39.0% 2010 9 $28.63 37,438 25.6% 63.9% 21.5% 60.5% 2011 0 $ 0.00 0 0.0% 63.9% 0.0% 60.5% 2012 0 $ 0.00 0 0.0% 63.9% 0.0% 60.5% 2013 2 $38.21 12,613 8.6% 72.5% 9.7% 70.1% 2014 0 $ 0.00 0 0.0% 72.5% 0.0% 70.1% 2015 0 $ 0.00 0 0.0% 72.5% 0.0% 70.1% 2016 6 $37.38 39,912 27.3% 99.8% 29.9% 100.0% 2017 0 $ 0.00 0 0.0% 99.8% 0.0% 100.0% Thereafter 0 $ 0.00 0 0.0% 99.8% 0.0% 100.0% Vacant 0 NA 314 0.2% 100.0% 0.0% 100.0% - -------------------------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 109 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- HIGH BLUFF RIDGE AT DEL MAR - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $32,900,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 0.9% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR PRISA II TYPE OF SECURITY Fee MORTGAGE RATE 5.510% MATURITY DATE July 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 119 / IO SHADOW RATING (MOODY'S / S&P)* Baa3/A LOCKBOX None UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX / INSURANCE Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $32,900,000 CUT-OFF DATE BALANCE / SF $209 CUT-OFF DATE LTV 39.2% MATURITY DATE LTV 39.2% UW DSCR ON NCF 2.25x - -------------------------------------------------------------------------------- * Moody's and S&P have confirmed that the High Bluff Ridge at Del Mar Loan has, in the context of its inclusion in the mortgage pool, credit characteristics consistent with an investment grade obligation. [PHOTO OF HIGH BLUFF RIDGE AT DEL MAR] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION San Diego, CA PROPERTY TYPE Office -- Suburban SIZE (SF) 157,567 OCCUPANCY AS OF MAY 23, 2007 97.4% YEAR BUILT / YEAR RENOVATED 2005 / NA APPRAISED VALUE $83,900,000 PROPERTY MANAGEMENT Brandywine Operating Partnership, L.P. UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $6,333,522 UW TOTAL EXPENSES $2,033,055 UW NET OPERATING INCOME (NOI) $4,300,468 UW NET CASH FLOW (NCF) $4,072,412 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 110 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- HIGH BLUFF RIDGE AT DEL MAR - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- TENANT SUMMARY - -------------------------------------------------------------------------------- RATINGS* % OF NET FITCH/MOODY'S/ NET RENTABLE RENTABLE TENANT S&P AREA (SF) AREA - -------------------------------------------------------------------------------- MAJOR TENANTS Morrison & Foerster .................. NR/NR/NR 80,005 50.8% Cadence Pharmaceuticals Inc. ......... NR/NR/NR 23,494 14.9 Bernstein Litowitz Berger ............ NR/NR/NR 21,888 13.9 Domain Associates, LLC ............... NR/NR/NR 7,962 5.1 Charles Schwab & Co. Inc. ............ A/A2/A-- 6,185 3.9 ------ ----- TOTAL MAJOR TENANTS ................. 139,534 88.6% NON-MAJOR TENANTS .................... 13,893 8.8 ------- ----- OCCUPIED TOTAL ....................... 153,427 97.4% VACANT SPACE ......................... 4,140 2.6 ------- ----- PROPERTY TOTAL ....................... 157,567 100.0% ======= ===== - -------------------------------------------------------------------------------- % OF TOTAL BASE RENT ANNUAL ANNUAL BASE LEASE TENANT PSF BASE RENT RENT EXPIRATION - ---------------------------------------------------------------------------------------------- MAJOR TENANTS Morrison & Foerster .................. $ 35.40 $2,832,177 47.9% November 2015 Cadence Pharmaceuticals Inc. ......... $ 43.80 1,029,037 17.4 September 2012 Bernstein Litowitz Berger ............ $ 39.00 853,632 14.4 December 2015 Domain Associates, LLC ............... $ 42.84 341,092 5.8 December 2015 Charles Schwab & Co. Inc. ............ $ 42.02 259,894 4.4 May 2016 ---------- ----- TOTAL MAJOR TENANTS ................. $ 38.10 $5,315,832 89.9% NON-MAJOR TENANTS .................... $ 43.15 599,474 10.1 ---------- ----- OCCUPIED TOTAL ....................... $ 38.55 $5,915,306 100.0% ========== ===== VACANT SPACE ......................... PROPERTY TOTAL ....................... - ---------------------------------------------------------------------------------------------- * Certain ratings are those of the parent whether or not the parent guarantees the lease. - ----------------------------------------------------------------------------------------------------------------------------------- LEASE EXPIRATION SCHEDULE - ----------------------------------------------------------------------------------------------------------------------------------- # OF LEASES WA BASE RENT/SF TOTAL SF % OF TOTAL SF CUMULATIVE % OF SF % OF BASE RENT CUMULATIVE % OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - ----------------------------------------------------------------------------------------------------------------------------------- 2007 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2008 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2009 3 $40.96 7,083 4.5% 4.5% 4.9% 4.9% 2010 1 $46.20 2,441 1.5% 6.0% 1.9% 6.8% 2011 1 $45.00 4,369 2.8% 8.8% 3.3% 10.1% 2012 1 $43.80 23,494 14.9% 23.7% 17.4% 27.5% 2013 0 $ 0.00 0 0.0% 23.7% 0.0% 27.5% 2014 0 $ 0.00 0 0.0% 23.7% 0.0% 27.5% 2015 3 $36.66 109,855 69.7% 93.4% 68.1% 95.6% 2016 1 $42.02 6,185 3.9% 97.4% 4.4% 100.0% 2017 0 $ 0.00 0 0.0% 97.4% 0.0% 100.0% Thereafter 0 $ 0.00 0 0.0% 97.4% 0.0% 100.0% Vacant 0 NA 4,140 2.6% 100.0% 0.0% 100.0% - ----------------------------------------------------------------------------------------------------------------------------------- * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 111 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ADDITIONAL MORTGAGE LOAN INFORMATION - -------------------------------------------------------------------------------- o 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-1 to the Prospectus Supplement. See Annex A-2 to the Prospectus Supplement for certain information regarding multifamily Mortgaged Properties. See Annex A-3 to the Prospectus Supplement for certain information with respect to capital improvement, replacement and tenant improvement reserve accounts. See Annex A-4 to the Prospectus Supplement for certain information relating to the commercial tenants at the Mortgaged Properties. See Annex A-5 to the Prospectus Supplement for certain information relating to cross-collateralized and cross-defaulted Mortgage Loans. See Annex A-6 to the Prospectus Supplement for certain information relating to the 9720 & 9730 Cypresswood Drive Mortgage Loan. - ------------------------------------------------------------------------------------------------------------------------- SIGNIFICANT SPONSOR CONCENTRATION - ------------------------------------------------------------------------------------------------------------------------- # OF % OF CUT- WEIGHTED WEIGHTED WEIGHTED LOANS/ AGGREGATE OFF DATE AVERAGE AVERAGE AVERAGE MORTGAGED CUT-OFF DATE POOL CUT-OFF UW DSCR MORTGAGE SPONSOR PROPERTIES LOAN NUMBER BALANCE BALANCE DATE LTV ON NCF RATE - ------------------------------------------------------------------------------------------------------------------------- Simon Property Group Inc. 3/3 6, 5, 3 $629,294,118 17.5% 79.7% 1.20x 5.862% George Gellert; Jared Kushner 1/1 1 $285,500,000 7.9% 60.8% 1.46x 6.353% ING Clarion Partners 1/46 2 $283,850,000 7.9% 63.8% 2.14x 5.663% Ashford Hospitality Trust, Inc. 1/3 4 $260,980,000 7.2% 78.5% 1.43x 5.952% The Moinan Group 1/1 10 $ 84,000,000 2.3% 71.2% 1.35x 5.670% Spirit Finance Corporation 1/54 11 $ 75,008,971 2.1% 68.5% 1.57x 6.172% - ------------------------------------------------------------------------------------------------------------------------- o CROSS-COLLATERALIZED AND CROSS-DEFAULTED MORTGAGE LOANS. Six (6) groups of Mortgage Loans, representing approximately 3.6% of the Cut-Off Date Pool Balance, are cross-collateralized and/or cross-defaulted with one or more Mortgage Loans in the Mortgage Pool as indicated in Annex A-5 to the Prospectus Supplement. As of the Closing Date, no Mortgage Loan (other than the Co-Lender Loans described on the next page) will be cross-collateralized or cross-defaulted with any loan that is not included in the Mortgage Pool. The Master Servicer or the Special Servicer, as the case may be, will determine whether to enforce the cross-default and/or cross-collateralization rights upon a Mortgage Loan default with respect to any of these Mortgage Loans. The Certificateholders will not have any right to participate in or control any such determination. No other Mortgage Loans are subject to cross-collateralization or cross-default provisions. o DSC RATIO AND LTV RATIO ADJUSTMENTS. The DSC Ratio at certain of the Mortgaged Properties have been adjusted to take into account certain letters of credit, holdbacks and cash escrows retained at origination or to determine the LTV Ratios on an "as-stabilized" basis assuming certain assumptions come to pass. The DSC Ratio of certain Mortgaged Properties have been calculated based on assumptions regarding the future financial performance of the related Mortgaged Property. The table below identifies Mortgage Loans where the unaudited adjustments are reflected in the DSC Ratio and LTV Ratios, as applicable. See "RISK FACTORS--Risks Relating to Net Cash Flow" and "--Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property" in the Prospectus Supplement. - -------------------------------------------------------------------------------------------------------------------------------- ADJUSTED LTV OR DSC RATIOS - -------------------------------------------------------------------------------------------------------------------------------- % OF CUT-OFF MORTGAGE LOAN # OF LOANS LOAN NUMBERS DATE POOL BALANCE - -------------------------------------------------------------------------------------------------------------------------------- LTV ratio is based on the "as-stabilized" appraised value 9 2, 37, 60, 67, 71, 82, 95, 134, 137 9.9% Adjustment to LTV ratio based on certain escrows, holdbacks or letters of credit 3 7, 65, 87 4.2% Adjustment to DSC ratio based on certain escrows, holdbacks or letters of credit 4 65, 87, 101, 153 0.7% - -------------------------------------------------------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 112 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ADDITIONAL MORTGAGE LOAN INFORMATION - -------------------------------------------------------------------------------- o SUBORDINATE FINANCING - -------------------------------------------------------------------------------------------------------------------------------- EXISTING SUBORDINATE FINANCING - -------------------------------------------------------------------------------------------------------------------------------- # OF % OF CUT-OFF DATE LOANS LOAN NUMBERS POOL BALANCE - -------------------------------------------------------------------------------------------------------------------------------- Secured by Mortgaged Property(1) 4 7, 42, 47, 162 4.6% Mezzanine Debt Secured by Ownership Interests in Borrower 7 1, 8, 22, 27, 28, 55, 131 13.0% - -------------------------------------------------------------------------------------------------------------------------------- (1) Excludes Subordinate Companion Loans shown in the table "Subordinate Companion Loans" below. - ----------------------------------------------------------------------------------------------------------------------------------- FUTURE SUBORDINATE FINANCING - ----------------------------------------------------------------------------------------------------------------------------------- % OF CUT-OFF # OF DATE LOANS LOAN NUMBERS POOL BALANCE - ----------------------------------------------------------------------------------------------------------------------------------- 1, 2, 3, 5, 6, 7, 8, 11, 12, 14, 17, 25, 26, 28, 36, 40, 51, 61, 62, 81, 84, 93, 114, 117, Secured by Ownership Interests in Borrower 30 122, 130, 138, 141, 156, 160 51.2% Secured by Mortgaged Property 1 82 0.2% Unsecured Debt 2 58, 69 0.6% Secured by Mortgaged Property and Ownership Interests in Borrower 1 152 0.1% - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- SUBORDINATE COMPANION LOANS - ----------------------------------------------------------------------------------------------------------------------------- CUT-OFF SUBORDINATE LOAN CUT-OFF DATE OF % CUT-OFF DATE COMPANION LOAN MORTGAGE LOAN NUMBER PRINCIPAL BALANCE POOL BALANCE BALANCE PRIMARY SERVICER - ----------------------------------------------------------------------------------------------------------------------------- Sawgrass Mills 3 $265,294,118 7.4% $30,000,000 TBD* Central / Eastern Industrial Pool 9 89,000,000 2.5 $19,000,000 Wachovia Bank The Renaissance 10 84,000,000 2.3 $ 9,000,000 Wachovia Bank Nordic Cold Storage Pool 13 55,500,000 1.5 $10,000,000 Wachovia Bank 4929 Wilshire 20 31,316,000 0.9 $ 4,000,000 Wachovia Bank Deerwood MHP I 49 14,413,500 0.4 $ 1,601,500 Wachovia Bank Deerwood MHP II 50 14,413,500 0.4 $ 1,601,500 Wachovia Bank ------------ ---- $553,937,118 15.4% ============ ==== - ----------------------------------------------------------------------------------------------------------------------------- * To be primary servicer for JPMCC 2007-LDP12 transaction. See "RISK FACTORS--Additional Debt on Some Mortgage Loans Creates Additional Risks" and "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans" in the Prospectus Supplement. This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 113 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C33 - -------------------------------------------------------------------------------- ADDITIONAL MORTGAGE LOAN INFORMATION - -------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- PARI PASSU LOANS - --------------------------------------------------------------------------------------------------------------------------- CUT-OFF DATE % OF PARI PASSU LOAN CUT-OFF DATE OF % CUT-OFF PARI PASSU COMPANION CONTROLLING NUMBER PRINCIPAL BALANCE DATE POOL BALANCE DEBT LOAN BALANCE TRANSACTION - --------------------------------------------------------------------------------------------------------------------------- 666 Fifth Avenue 1 $ 285,500,000 7.9% 24% $929,500,000 GECMC 2007-C1 ING Hospitality Pool 2 283,850,000 7.9 50% $283,850,000 WBCMT 2007-C32 Sawgrass Mills 3 265,294,118 7.4 32% $554,705,882 JPMCC 2007 LDP-12 Potomac Mills 6 164,000,000 4.6 40% $246,000,000 LBUBS 2007 C-6 84 Lumber Industrial Pool 11 75,008,971 2.1 50% $ 75,008,971 WBCMT 2007-C33 -------------- ---- $1,073,653,089 29.8% ============== ==== - --------------------------------------------------------------------------------------------------------------------------- See "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans" in the Prospectus Supplement. - ------------------------------------------------------------------------------------ OPEN PERIODS GREATER THAN OR EQUAL TO SIX PERIODS - ------------------------------------------------------------------------------------ # OF LOAN % OF CUT-OFF LOANS NUMBERS DATE POOL BALANCE - ------------------------------------------------------------------------------------ Open for six periods 4 2, 44, 58, 76 8.9% Open for seven periods 6 1, 3, 13, 19, 84, 97 18.1 Open for ten periods 2 5, 6 10.1 Open for twelve periods 1 164 0.0 Open for thirteen periods 1 141 0.1 ---- 37.2% ==== - ------------------------------------------------------------------------------------ This material is for your private information, and none of Wachovia Capital Markets, LLC and Barclays Capital Inc. (collectively, the "Underwriters") is 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. The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC (SEC File No. 333-131262) for more complete information about the depositor, the issuing trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any Underwriter or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8am-5pm EST). The certificates referred to in these materials, and the asset pools backing them, are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis. You understand that, when you are considering the purchase of these offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of certificates to be made to you; any "indications of interest" expressed by you, and any "soft circles" generated by us, will not create binding contractual obligations for you or us. As a result of the foregoing, you may commit to purchase offered certificates that have characteristics that may change, and you are advised that all or a portion of the offered certificates may not be issued that have the characteristics described in these materials. Our obligation to sell offered certificates to you is conditioned on the offered certificates that are actually issued having the characteristics described in these materials. If we determine that condition is not satisfied in any material respect, we will notify you, and neither the depositor nor any Underwriter will have any obligation to you to deliver any portion of the certificates which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery. You have requested that the Underwriters provide to you information in connection with your consideration of the purchase of certain certificates described in this information. This information is being provided to you for informative purposes only in response to your specific request. The Underwriters described in this information may from time to time perform investment banking services for, or solicit investment banking business from, any company named in this information. The Underwriters and/or their employees may from time to time have a long or short position in any contract or certificate discussed in this information. The information contained herein supersedes any previous such information delivered to you and may be superseded by information delivered to you prior to the time of sale. Notwithstanding anything herein to the contrary, you (and each of your employees, representatives or other agents) may disclose to any and all persons, without limitation of any kind, the United States federal, state and local income "tax treatment" and "tax structure" (in each case, within the meaning of Treasury Regulation Section 1.6011-4) and all materials of any kind (including opinions or other tax analyses) of the transaction contemplated hereby that are provided to you (or your representatives) relating to such tax treatment and tax structure, other than the name of the issuer or information that would permit identification of the issuer, and except that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal, state and local income tax treatment or tax structure of the transaction. WACHOVIA SECURITIES BARCLAYS CAPITAL 114 The file "WBCMT 2007-C33 Free Writing Prospectus Annexes A1-6.xls", which is a Microsoft Excel*, Version 5.0 spreadsheet, provides in electronic format certain information shown in Annexes A-1, A-2, A-3, A-4, A-5 and A-6. In addition, the spreadsheet provides certain Mortgage Loan and Mortgaged Property information contained in Annex A-1 and information detailing the changes in the amount of monthly payments with regard to certain Mortgage Loans. As described under "DESCRIPTION OF THE CERTIFICATES--Reports to Certificateholders; Available Information" in the Prospectus Supplement, each month the Trustee will make available through its internet website an electronic file in CMSA format updating and supplementing the information contained in the "WBCMT 2007-C31 Free Writing Prospectus Annexes A1-6.xls" file. Also included on the CD-ROM is an electronic copy of Annex B. To open the file, insert the CD-ROM into your CD-ROM drive. Copy the file "WBCMT 2007-C33 Free Writing Prospectus Annexes A1-6.xls" to your hard drive or network drive. Open the file "WBCMT 2007-C33 Free Writing Prospectus Annexes A1-6.xls" as you would normally open any spreadsheet in Microsoft Excel. After the file is opened, a securities law legend will be displayed. READ THE LEGEND CAREFULLY. To view the data, see the worksheets labeled "Disclaimer", "A-1 Certain Characteristics of the Mortgage Loans and Mortgaged Properties" or "A-2 Certain Information Regarding Multifamily Mortgaged Properties" or "A-3 Reserve Account Information" or "A-4 Commercial Tenant Schedule" or "A-5 Certain Characteristics of the Mortgage Loans and Mortgaged Properties (Crossed and Portfolios)" or "A-6 Debt Service Payment Schedule for the 9720 & 9730 Cypresswood Drive Mortgage Loan", respectively. * Microsoft Excel is a registered trademark of Microsoft Corporation.
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FWP Filing
Wells Fargo Commercial Mortgage Securities FWPFree writing prospectus
Filed: 1 Aug 07, 12:00am