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 OCTOBER 12, 2007. STRUCTURAL AND COLLATERAL INFORMATION $1,348,135,000 (APPROXIMATE) WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC. DEPOSITOR WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES CLASSES A-1, A-2, A-PB, A-3, A-1A, IO, A-M, A-J, B, C, D, E AND F - -------------------------------------------------------------------------------- SERIES 2007-C34 - -------------------------------------------------------------------------------- OCTOBER 12, 2007 Sponsors WACHOVIA BANK, NATIONAL ASSOCIATION BARCLAYS CAPITAL REAL ESTATE INC. Master Servicer WACHOVIA BANK, NATIONAL ASSOCIATION Special Servicer CWCAPITAL ASSET MANAGEMENT LLC [WACHOVIA SECURITIES LOGO] [BARCLAYS CAPITAL LOGO] LEHMAN BROTHERS This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 or ARD ...................................... 15 Remaining Term to Maturity or ARD ..................................... 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 Ashford Hospitality Pool 5 ............................................ 17 Nestle 94 Pool ........................................................ 29 Sheraton Park Hotel - Anaheim, CA ..................................... 35 Integrated Health Campus .............................................. 41 2100 Ross ............................................................. 47 Cole REIT Portfolio ................................................... 53 Mallard Glen Apartments ............................................... 59 Llano Logistics ....................................................... 65 Kedron Village - Phase II ............................................. 71 University House at Tempe Apartments .................................. 77 Reflections at the Lakes .............................................. 82 Glenbrooke at Palm Bay ................................................ 84 One & Two Riverwood ................................................... 86 The Preserve at the Fort Apartments ................................... 88 The Falls at Highpoint Apartments ..................................... 90 Cole Portfolio ........................................................ 92 West Volusia Towne Centre ............................................. 96 Waterstone Apartments ................................................. 98 Home Depot - Paterson, NJ ............................................. 100 Poway Crossings ....................................................... 102 Additional Mortgage Loan Information ..................................... 104 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- TRANSACTION STRUCTURE TRANSACTION TERMS NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE MEANINGS ASCRIBED TO THEM IN THE PROSPECTUS SUPPLEMENT, DATED OCTOBER 12, 2007. ISSUE TYPE Sequential pay REMIC. Class A-1, Class A-2, Class A-PB, Class A-3, 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 November 1, 2007, with respect to 30 Mortgage Loans and November 11, 2007, with respect to 79 Mortgage Loans. All percentages presented herein are approximate. MORTGAGE POOL The Mortgage Pool consists of 109 Mortgage Loans (the "Mortgage Loans") with an aggregate principal balance as of the Cut-Off Date of $1,479,435,064 (the "Cut-Off Date Pool Balance"), subject to a variance of plus or minus 5%. The Mortgage Loans are secured by 119 properties (the "Mortgaged Properties") located throughout 30 states. 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 and (ii) 1 Mortgage Loan that is secured by a multifamily property, with an aggregate principal balance as of the Cut-Off Date of $1,163,291,064 (the "Cut-Off Date Group 1 Balance"). Loan Group 2 will consist of 17 Mortgage Loans that are secured by Mortgaged Properties that are multifamily or mobile home park properties with an aggregate principal balance as of the Cut-Off Date of $316,144,000 (the "Cut-Off Date Group 2 Balance"). DEPOSITOR Wachovia Commercial Mortgage Securities, Inc. UNDERWRITERS Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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") and AND SPONSORS Barclays Capital Real Estate Inc. ("BCRE"). NUMBER OF AGGREGATE MORTGAGE CUT-OFF DATE % OF INITIAL MORTGAGE LOAN SELLER LOANS BALANCE POOL BALANCE - -------------------- --------- -------------- ------------ Wachovia 83 $1,236,661,626 83.6% BCRE 26 242,773,439 16.4 --- -------------- ----- TOTAL 109 $1,479,435,064 100.0% === ============== ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 3 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- TRANSACTION TERMS TRUSTEE Wells Fargo Bank, N.A. MASTER SERVICER Wachovia Bank, National Association SPECIAL SERVICER CWCapital Asset Management LLC 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 November 13, 2007. SETTLEMENT TERMS Book-entry through DTC for all Offered Certificates. DISTRIBUTION DATE The fourth business day following the related Determination Date, commencing in December 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 December 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-PB, Class A-3, Class A-1A and Class IO Certificates 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 October 12, 2007 (the "Prospectus Supplement"). Generally, the Class A-1, Class A-2, Class A-PB and Class A-3 Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 2 until the Certificate Balance of the Class A-3 Certificates has been reduced to zero. If, due to losses, the Certificate Balances of the Class A-M through Class S Certificates are reduced to zero, but any two or more of the Class A-1, Class A-2, Class A-PB, Class A-3 and Class A-1A Certificates, 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-PB, Class A-3 and Class A-1A Certificates will be made on a pro rata basis. 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, Class A-J and Class A-M Certificates, in that order, and then, pro rata, to the Class A-1, Class A-2, Class A-PB, Class A-3 and Class A-1A Certificates. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 4 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- TRANSACTION TERMS PREPAYMENT PREMIUMS Any Prepayment Premiums or Yield Maintenance Charges AND YIELD actually collected on a Mortgage Loan during the MAINTENANCE CHARGES related collection period in which the 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-PB and Class A-3 Certificates 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 Balance of the Class A-3 Certificates has 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. 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, 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. 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. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 5 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- TRANSACTION TERMS CONTROLLING CLASS The representative appointed by the holder of the REPRESENTATIVE majority of the Class 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 6 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- TRANSACTION TERMS WACHOVIA CAPITAL MARKETS, LLC Charles Culbreth (704) 383-7716 (Phone) (704) 715-0066 (Fax) Bill White (704) 715-8440 (Phone) (704) 715-1214 (Fax) Chris Campbell (704) 715-8440 (Phone) (704) 715-1214 (Fax) BARCLAYS CAPITAL INC. Haejin Baek (212) 412-1863 (Phone) (212) 412-7489 (Fax) Craig Leonard (212) 412-2663 (Phone) (212) 412-7305 (Fax) Jeff Lewis (212) 412-5950 (Phone) (212) 412-7333 (Fax) Brian Dixon (212) 412-2663 (Phone) (212) 412-7305 (Fax) Gino Ammirati (212) 412-1142 (Phone) (212) 412-8318 (Fax) LEHMAN BROTHERS INC. Kee Chan (212) 526-1528 (Phone) (212) 520-0839 (Fax) David Nass (212) 526-8829 (Phone) (646) 758-5376 (Fax) Julia Kim (212) 526-0399 (Phone) (646) 758-3035 (Fax) Hui Chen (212) 526-2154 (Phone) (646) 834-2684 (Fax) This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 7 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- STRUCTURE OVERVIEW OFFERED CERTIFICATES EXPECTED CERTIFICATE APPROX. ASSUMED RATINGS(1) 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-1 Aaa AAA $ 18,111,000 1.224% 30.000% 2.38 12/07 - 03/12 March 15, 2012 Fixed A-2 Aaa AAA $ 178,441,000 12.061% 30.000% 4.65 03/12 - 08/12 August 15, 2012 Fixed A-PB Aaa AAA $ 48,817,000 3.300% 30.000% 7.08 08/12 - 01/17 January 15, 2017 Fixed A-3 Aaa AAA $ 474,091,000 32.045% 30.000% 9.44 01/17 - 07/17 July 15, 2017 Fixed(4) A-1A Aaa AAA $ 316,144,000 21.369% 30.000% 7.54 09/09 - 08/17 August 15, 2017 Fixed(4) IO(5)(6) Aaa AAA $1,479,435,064 NA NA NA NA NA Variable A-M Aaa AAA $ 147,944,000 10.000% 20.000% 9.79 08/17 - 09/17 September 15, 2017 Fixed(4) A-J Aaa AAA $ 88,766,000 6.000% 14.000% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) B Aa1 AA+ $ 18,493,000 1.250% 12.750% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) C Aa2 AA $ 16,643,000 1.125% 11.625% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) D Aa3 AA- $ 16,644,000 1.125% 10.500% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) E A1 A+ $ 11,096,000 0.750% 9.750% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) F A2 A $ 12,945,000 0.875% 8.875% 9.84 09/17 - 09/17 September 15, 2017 WAC(7) NON-OFFERED CERTIFICATES EXPECTED CERTIFICATE APPROX. ASSUMED RATINGS(1) 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 - ------------------------------------------------------------------------------------------------------------------- G A3 A- $16,643,000 1.125% 7.750% (8) (8) (8) WAC(7) H Baa1 BBB+ $18,493,000 1.250% 6.500% (8) (8) (8) WAC(7) J Baa2 BBB $18,493,000 1.250% 5.250% (8) (8) (8) WAC(7) K Baa3 BBB- $14,795,000 1.000% 4.250% (8) (8) (8) WAC(7) L Ba1 BB+ $11,095,000 0.750% 3.500% (8) (8) (8) Fixed M Ba2 BB $ 5,548,000 0.375% 3.125% (8) (8) (8) Fixed N Ba3 BB- $ 7,397,000 0.500% 2.625% (8) (8) (8) Fixed O B1 B+ $ 3,699,000 0.250% 2.375% (8) (8) (8) Fixed P B2 B $ 3,699,000 0.250% 2.125% (8) (8) (8) Fixed(4) Q B3 B- $ 5,547,000 0.375% 1.750% (8) (8) (8) Fixed(4) S NR NR $25,891,064 1.750% 0.000% (8) (8) (8) Fixed(4) (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 pass-through rate applicable to the Class A-3, Class A-1A, Class A-M, 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 Prospectus Supplement) for the related date. (5) 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. (6) 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. (7) The pass-through rate applicable to the 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. (8) 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. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 8 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 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 18,111,000 ------------ TOTAL CLASS A-1 CERTIFICATE BALANCE $ 18,111,000 ============ CLASS A-2 Four Points Allentown $ 8,500,000 $ 7,866,287 Hospitality 2100 Ross $ 61,000,000 61,000,000 Office Nestle 94 Pool $106,000,000 106,000,000 Industrial ------------ CLASS A-2 TOTAL BALLOON PAYMENT $174,866,287 CLASS A-2 AMORTIZATION 3,574,713 ------------ TOTAL CLASS A-2 CERTIFICATE BALANCE $178,441,000 ============ CLASS A-PB CLASS A-PB TOTAL BALLOON PAYMENT $ 0 CLASS A-PB AMORTIZATION 48,817,000 ------------ TOTAL CLASS A-PB CERTIFICATE BALANCE $ 48,817,000 ============ WEIGHTED WEIGHTED WEIGHTED AVERAGE AVERAGE AVERAGE WEIGHTED REMAINING REMAINING CUT-OFF DATE AVERAGE CLASS TERM IO TERM LTV DSC - ------------------------------------------------------------ CLASS A-1 CLASS A-2 52 4 79.4% 1.40x 54 54 74.4% 1.64x 57 57 57.2% 1.44x 56 53 64.2% 1.51x CLASS A-PB * 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 9 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 10 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE ALL GENERAL CHARACTERISTICS MORTGAGE LOANS LOAN GROUP 1 LOAN GROUP 2 - --------------------------------------------------------------------------------------------------------------------- Number of Mortgage Loans ....................................... 109 92 17 Number of Crossed Loan Pools ................................... 4 3 1 Number of Mortgaged Properties ................................. 119 99 20 Aggregate Balance of all Mortgage Loans ........................ $1,479,435,064 $1,163,291,064 $316,144,000 Number of Mortgage Loans with Balloon Payments(1) .............. 52 43 9 Aggregate Balance of Mortgage Loans with Balloon Payments(1) ... $ 764,918,178 $ 619,086,678 $145,831,500 Number of Mortgage Loans with Anticipated Repayment Date(2) .... 3 3 0 Aggregate Balance of Mortgage Loans with Anticipated Repayment Date(2) ........................................... $ 6,540,083 $ 6,540,083 $ 0 Number of Fully Amortizing Mortgage Loans ...................... 4 4 0 Aggregate Balance of Fully Amortizing Mortgage Loans ........... $ 48,745,403 $ 48,745,403 $ 0 Number of Interest Only Mortgage Loans(3) ...................... 50 42 8 Aggregate Balance of Interest Only Mortgage Loans(3) ........... $ 659,231,400 $ 488,918,900 $170,312,500 Average Balance of Mortgage Loans .............................. $ 13,572,799 $ 12,644,468 $ 18,596,706 Minimum Balance of Mortgage Loans .............................. $ 1,024,000 $ 1,024,000 $ 1,200,000 Maximum Balance of Mortgage Loans .............................. $ 158,105,000 $ 158,105,000 $ 37,440,000 Maximum Balance for a group of cross-collateralized and cross-defaulted Mortgage Loans .............................. $ 46,633,000(4) $ 46,633,000(4) $ 7,560,000(5) Weighted Average LTV Ratio(6)(7) ............................... 69.8% 68.9% 73.1% Minimum LTV Ratio(6)(7) ........................................ 28.0% 28.0% 64.6% Maximum LTV Ratio(6)(7) ........................................ 81.9% 81.9% 80.0% Weighted Average LTV at Maturity or Anticipated Repayment Date(6)(7) ............................ 64.6% 63.1% 70.3% Weighted Average DSCR .......................................... 1.39x 1.42x 1.29x Minimum DSCR ................................................... 1.00x 1.00x 1.10x Maximum DSCR ................................................... 2.37x 2.37x 1.51x Weighted Average Mortgage Loan Interest Rate(8) ................ 6.152% 6.199% 5.979% Minimum Mortgage Loan Interest Rate ............................ 5.170% 5.170% 5.750% Maximum Mortgage Loan Interest Rate ............................ 8.181% 8.181% 6.790% Weighted Average Remaining Term to Maturity or Anticipated Repayment Date(months) .......................... 105 108 92 Minimum Remaining Term to Maturity or Anticipated Repayment Date(months) .......................... 52 52 54 Maximum Remaining Term to Maturity or Anticipated Repayment Date(months) .......................... 202 202 118 Weighted Average Occupancy Rate(9) ............................. 93.1% 93.8% 91.3% (1) Does not include Mortgage Loans with anticipated repayment dates or Mortgage Loans that are interest-only for their entire term. (2) Does not include Mortgage Loans that are interest-only for their entire term. (3) Includes Mortgage Loans with anticipated repayment dates that are interest-only for the entire period until the anticipated repayment date. (4) Consists of a group of 14 individual Mortgage Loans (loan numbers 56, 63, 64, 65, 68, 69, 82, 89, 91, 94, 97, 101, 104 and 107). (5) Consists of a group of 2 individual Mortgage Loans (loan numbers 58 and 108). (6) 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. (7) Certain of the Mortgage Loans have LTV Ratios that have been calculated on an "as-stabilized" basis. 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. (8) The interest rate with respect to 5 Mortgage Loans (loan numbers 12, 14, 29, 32 and 34), representing 6.5% of the Cut-Off Date Pool Balance (4.8% of the Cut-Off Date Group 1 Balance and 12.7% of the Cut-Off Date Group 2 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. (9) Occupancy Rates exclude 15 hospitality properties, representing 19.6% of the Cut-Off Date Pool Balance (24.9% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 11 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE [GRAPHIC] 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 48 $ 327,032,085 22.1% 28.1% 0.0% Anchored 12 198,405,594 13.4 17.1 0.0 Single Tenant(4) 31 111,185,286 7.5 9.6 0.0 Shadow Anchored(5) 2 10,523,731 0.7 0.9 0.0 Unanchored 3 6,917,474 0.5 0.6 0.0 Multifamily 16 316,794,526 21.4 0.7 97.6 Office 16 304,847,279 20.6 26.2 0.0 Hospitality 15 290,176,364 19.6 24.9 0.0 Industrial 15 211,985,635 14.3 18.2 0.0 Special Purpose 2 13,500,000 0.9 1.2 0.0 Mobile Home Park 5 7,560,000 0.5 0.0 2.4 Self Storage 2 7,539,175 0.5 0.6 0.0 --- -------------- ----- ----- ----- 119 $1,479,435,064 100.0% 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 WEIGHTED LTV RATIO(2) LTV RATIO(2) RATE(3) - ----------------------------------------------------------------------------------------- Retail 1.46x 1.11x/2.37x 67.9% 35.5%/79.9% 6.097% Anchored 1.34x 1.11x/1.82x 69.6% 36.6%/79.8% 6.220% Single Tenant(4) 1.65x 1.15x/2.37x 66.3% 49.9%/79.9% 5.825% Shadow Anchored(5) 1.83x 1.67x/2.28x 54.4% 35.5%/61.4% 6.186% Unanchored 1.22x 1.21x/1.23x 66.0% 57.8%/70.2% 6.787% Multifamily 1.29x 1.10x/1.51x 72.9% 64.6%/80.0% 5.973% Office 1.44x 1.11x/2.11x 69.2% 31.1%/80.0% 6.077% Hospitality 1.41x 1.15x/1.99x 75.7% 59.1%/79.9% 6.121% Industrial 1.38x 1.00x/1.77x 60.7% 28.0%/81.9% 6.631% Special Purpose 1.24x 1.21x/1.34x 75.7% 74.6%/78.7% 5.895% Mobile Home Park 1.21x 1.21x/1.21x 78.4% 78.4%/78.4% 6.790% Self Storage 1.21x 1.20x/1.22x 59.3% 53.9%/64.8% 6.716% ---- ---------- ---- ---------- ----- 1.39x 1.00x/2.37x 69.8% 28.0%/81.9% 6.152% ==== ========== ==== ========== ===== (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. 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 5 Mortgage Loans (loan numbers 12, 14, 29, 32 and 34), representing 6.5% of the Cut-Off Date Pool Balance (4.8% of the Cut-Off Date Group 1 Balance and 12.7% of the Cut-Off Date Group 2 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) As of the origination of 1 Mortgage Loan (loan number 17), the related Mortgaged Property was being improved by the construction of a Home Depot; however, the improvements are not part of the collateral for the related Mortgage Loan. (5) A Mortgaged Property is classified as shadow anchored if it is located in close proximity to an anchored retail property. * 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 12 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE [MAP OMITTED] 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 LTV RATIO(2) RATE(3) - --------------------------------------------------------------------------------------------------------------------- TX 20 $ 268,416,250 18.1% 15.3% 28.6% 1.45x 72.3% 5.968% FL 12 148,241,279 10.0 7.6 18.9 1.37x 65.7% 6.679% PA 6 144,294,087 9.8 12.4 0.0 1.31x 69.9% 5.989% CA 6 141,700,603 9.6 12.2 0.0 1.43x 65.5% 6.419% Southern(4) 4 105,900,000 7.2 9.1 0.0 1.40x 68.9% 6.458% Northern(4) 2 35,800,603 2.4 3.1 0.0 1.50x 55.5% 6.304% NC 10 123,947,714 8.4 6.2 16.3 1.27x 73.8% 6.013% GA 8 107,086,364 7.2 7.2 7.4 1.36x 69.3% 6.107% NJ 2 98,391,500 6.7 8.5 0.0 1.33x 79.9% 5.963% Other 55 447,357,267 30.2 30.6 28.9 1.43x 67.9% 6.148% --- -------------- ----- ----- ----- ---- ---- ----- 119 $1,479,435,064 100.0% 100.0% 100.0% 1.39x 69.8% 6.152% === ============== ===== ===== ===== ==== ==== ===== o THE MORTGAGED PROPERTIES ARE LOCATED IN 30 STATES. (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. 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 5 Mortgage Loans (loan numbers 12, 14, 29, 32 and 34), representing 6.5% of the Cut-Off Date Pool Balance (4.8% of the Cut-Off Date Group 1 Balance and 12.7% of the Cut-Off Date Group 2 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. 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 13 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 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 - ----------------------------------------------------------------------------------------- $1,024,000 - $2,000,000 ...... 13 $ 20,258,191 1.4% 1.6% 0.4% $2,000,001 - $3,000,000 ...... 16 40,898,864 2.8 3.5 0.0 $3,000,001 - $4,000,000 ...... 12 41,383,393 2.8 3.3 1.1 $4,000,001 - $5,000,000 ...... 11 48,029,971 3.2 4.1 0.0 $5,000,001 - $6,000,000 ...... 1 5,635,000 0.4 0.5 0.0 $6,000,001 - $7,000,000 ...... 2 12,518,882 0.8 0.5 2.0 $7,000,001 - $8,000,000 ...... 3 22,224,966 1.5 1.9 0.0 $8,000,001 - $9,000,000 ...... 4 33,614,259 2.3 2.9 0.0 $9,000,001 - $10,000,000 ..... 7 67,595,137 4.6 5.8 0.0 $10,000,001 - $15,000,000 .... 17 213,214,503 14.4 13.8 16.8 $15,000,001 - $20,000,000 .... 6 101,305,400 6.8 5.8 10.8 $20,000,001 - $25,000,000 .... 6 131,939,000 8.9 7.6 13.9 $25,000,001 - $30,000,000 .... 8 218,272,500 14.8 7.0 43.3 $30,000,001 - $35,000,000 .... 1 32,800,000 2.2 2.8 0.0 $35,000,001 - $40,000,000 .... 1 37,440,000 2.5 0.0 11.8 $60,000,001 - $65,000,000 .... 3 188,200,000 12.7 16.2 0.0 $100,000,001 - $150,000,000 .. 1 106,000,000 7.2 9.1 0.0 $150,000,001 - $158,105,000 .. 1 158,105,000 10.7 13.6 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: $1,024,000 MAX: $158,105,000 AVERAGE: $13,572,799 UNDERWRITTEN DEBT SERVICE COVERAGE RATIO % 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 - ----------------------------------------------------------------------------------------- 1.00x - 1.04x ................ 4 $ 28,204,065 1.9% 2.4% 0.0% 1.10x - 1.14x ................ 6 176,908,218 12.0 9.7 20.1 1.15x - 1.19x ................ 7 84,739,692 5.7 7.3 0.0 1.20x - 1.24x ................ 19 134,696,633 9.1 7.5 14.9 1.25x - 1.29x ................ 9 123,162,462 8.3 3.8 25.0 1.30x - 1.34x ................ 6 74,023,159 5.0 4.0 8.6 1.35x - 1.39x ................ 6 305,455,000 20.6 24.2 7.5 1.40x - 1.44x ................ 5 161,420,000 10.9 11.1 10.3 1.45x - 1.49x ................ 2 22,645,000 1.5 0.8 4.3 1.50x - 1.54x ................ 5 75,618,161 5.1 4.0 9.3 1.55x - 1.59x ................ 2 17,935,000 1.2 1.5 0.0 1.60x - 1.64x ................ 5 98,940,400 6.7 8.5 0.0 1.65x - 1.69x ................ 3 30,851,000 2.1 2.7 0.0 1.70x - 1.74x ................ 4 10,787,687 0.7 0.9 0.0 1.75x - 1.79x ................ 7 29,182,338 2.0 2.5 0.0 1.80x - 1.84x ................ 5 30,083,617 2.0 2.6 0.0 1.85x - 1.89x ................ 5 15,106,500 1.0 1.3 0.0 1.95x - 1.99x ................ 1 9,380,401 0.6 0.8 0.0 2.00x - 2.04x ................ 1 4,108,000 0.3 0.4 0.0 2.05x - 2.09x ................ 2 5,794,000 0.4 0.5 0.0 2.10x - 2.14x ................ 2 27,500,000 1.9 2.4 0.0 2.20x - 2.24x ................ 1 1,024,000 0.1 0.1 0.0 2.25x - 2.29x ................ 5 10,492,731 0.7 0.9 0.0 2.30x - 2.37x ................ 1 1,377,000 0.1 0.1 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 1.00x MAX: 2.37x WTD. AVERAGE: 1.39x 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 - ----------------------------------------------------------------------------------------- 5.170 - 5.250 ................ 4 $ 13,597,000 0.9% 1.2% 0.0% 5.251 - 5.500 ................ 2 16,767,500 1.1 1.4 0.0 5.501 - 5.750 ................ 17 119,834,222 8.1 7.9 8.9 5.751 - 6.000 ................ 31 599,678,964 40.5 34.0 64.5 6.001 - 6.250 ................ 16 242,356,850 16.4 17.1 13.9 6.251 - 6.500 ................ 10 255,032,307 17.2 19.1 10.4 6.501 - 6.750 ................ 9 81,905,879 5.5 7.0 0.0 6.751 - 7.000 ................ 14 93,788,401 6.3 7.4 2.4 7.001 - 7.250 ................ 2 7,728,538 0.5 0.7 0.0 7.750 - 8.181 ................ 8 48,745,403 3.3 4.2 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 5.170% MAX: 8.181% WTD.AVERAGE: 6.152% 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 - ----------------------------------------------------------------------------------------- 28.03 - 40.00 ................ 7 $ 48,820,235 3.3% 4.2% 0.0% 40.01 - 50.00 ................ 6 22,193,000 1.5 1.9 0.0 50.01 - 55.00 ................ 3 9,608,175 0.6 0.8 0.0 55.01 - 60.00 ................ 6 146,060,414 9.9 12.6 0.0 60.01 - 65.00 ................ 17 132,187,194 8.9 8.8 9.3 65.01 - 70.00 ................ 28 211,424,471 14.3 15.0 11.8 70.01 - 75.00 ................ 21 417,929,393 28.2 23.5 45.6 75.01 - 80.00 ................ 24 481,307,447 32.5 32.3 33.3 80.01 - 81.91 ................ 1 9,904,736 0.7 0.9 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 28.03% MAX: 81.91% WTD. AVERAGE: 69.83% 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 - ----------------------------------------------------------------------------------------- 0.00 - 5.00 .................. 8 $ 48,745,403 3.3% 4.2% 0.0% 20.01 - 30.00 ................ 1 11,455,165 0.8 1.0 0.0 30.01 - 40.00 ................ 2 16,823,731 1.1 1.4 0.0 40.01 - 50.00 ................ 10 43,258,589 2.9 3.7 0.0 50.01 - 55.00 ................ 6 24,669,195 1.7 2.1 0.0 55.01 - 60.00 ................ 10 178,307,015 12.1 15.3 0.0 60.01 - 65.00 ................ 23 215,420,509 14.6 16.0 9.3 65.01 - 70.00 ................ 28 263,177,458 17.8 14.3 30.8 70.01 - 75.00 ................ 18 598,588,000 40.5 38.5 47.9 75.01 - 80.00 ................ 7 78,990,000 5.3 3.5 12.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 0.00% MAX: 80.00% WTD. AVERAGE: 64.62% (1) The interest rate with respect to 5 Mortgage Loans (loan numbers 12, 14, 29, 32 and 34), representing 6.5% of the Cut-Off Date Pool Balance (4.8% of the Cut-Off Date Group 1 Balance and 12.7% of the Cut-Off Date Group 2 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. 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. * 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. With respect to 4 Mortgage Loans (loan numbers 24.01, 24.02, 25.01, 25.02, 44.01, 44.02, 75.01 and 75.02), the related Mortgage Loan is comprised of a component A note and a component B note which are secured by the same Mortgaged Property and are both assets of the Trust Fund. In cases where the terms of the component notes differ, the portions of the Mortgage Loan represented by such component notes have been allocated to separate categories accordingly, and as a result the totals of the aggregate number of Mortgage Loans may not be equal. For detailed information about each component note comprising these Mortgage Loans, see Annex A-1 to 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 14 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MORTGAGE POOL CHARACTERISTICS AS OF THE CUT-OFF DATE* - -------------------------------------------------------------------------------- ORIGINAL TERM TO MATURITY OR ARD % OF RANGE OF NUMBER OF AGGREGATE INITIAL % OF % OF ORIGINAL TERM TO MORTGAGE CUT-OFF DATE POOL GROUP 1 GROUP 2 MATURITY OR ARD (MONTHS) LOANS BALANCE BALANCE BALANCE BALANCE - ----------------------------------------------------------------------------------------- 60 - 60 ...................... 11 $ 300,210,000 20.3% 15.1% 39.4% 109 - 120 .................... 94 1,130,479,661 76.4 80.7 60.6 121 - 216 .................... 4 20,541,338 1.4 1.8 0.0 217 - 300 .................... 4 28,204,065 1.9 2.4 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 60 MAX: 300 WTD. AVERAGE: 113 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 - ----------------------------------------------------------------------------------------- 84 - 120 ..................... 4 $ 28,204,065 1.9% 2.4% 0.0% 133 - 228 .................... 4 20,541,338 1.4 1.8 0.0 229 - 264 .................... 2 21,915,515 1.5 1.9 0.0 300 - 348 .................... 6 31,919,780 2.2 2.7 0.0 349 - 360 .................... 47 717,622,966 48.5 49.2 46.1 Non-Amortizing ............... 50 659,231,400 44.6 42.0 53.9 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN(1): 84 MAX: 360 WTD. AVERAGE(1): 342 (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 - ----------------------------------------------------------------------------------------- Partial Interest Only Amortizing ................ 38 $ 684,349,065 46.3% 46.3% 46.1% 1 - 12 ....................... 4 39,010,000 2.6 3.4 0.0 13 - 24 ...................... 8 76,663,000 5.2 2.7 14.2 25 - 36 ...................... 2 36,300,000 2.5 0.9 8.2 37 - 48 ...................... 2 36,525,000 2.5 3.1 0.0 49 - 60 ...................... 15 412,871,500 27.9 30.3 19.2 61 - 72 ...................... 2 40,775,500 2.8 3.5 0.0 73 - 84 ...................... 1 14,000,000 0.9 0.0 4.4 85 - 216 ..................... 4 28,204,065 1.9 2.4 0.0 Non-Amortizing ............... 50 659,231,400 44.6 42.0 53.9 Amortizing - No Partial Interest Only Period ...... 25 135,854,600 9.2 11.7 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 6 MAX(2): 216 WTD. AVERAGE(2): 59 (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 ....................... 105 $1,430,689,661 96.7% 95.8% 100.0% 97 - 108 ..................... 4 48,745,403 3.3 4.2 0.0 --- -------------- ----- ----- ------ 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ------ MIN: 1 MAX: 98 WTD. AVERAGE: 8 REMAINING TERM TO MATURITY OR ARD % 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 - ----------------------------------------------------------------------------------------- 52 - 60 ...................... 11 $ 300,210,000 20.3% 15.1% 39.4% 109 - 120 .................... 98 1,151,021,000 77.8 82.5 60.6 121 - 202 .................... 4 28,204,065 1.9 2.4 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN: 52 MAX: 202 WTD. AVERAGE: 105 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 - ----------------------------------------------------------------------------------------- 84 - 120 ..................... 8 $ 48,745,403 3.3% 4.2% 0.0% 229 - 264 .................... 2 21,915,515 1.5 1.9 0.0 265 - 299 .................... 4 20,201,562 1.4 1.7 0.0 300 - 348 .................... 2 11,718,218 0.8 1.0 0.0 349 - 360 .................... 47 717,622,966 48.5 49.2 46.1 Non-Amortizing ............... 50 659,231,400 44.6 42.0 53.9 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- MIN(3): 84 MAX: 360 WTD. AVERAGE(3): 339 (3) 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 ...... 91 $1,175,835,502 79.5% 79.2% 80.4% Lockout/Yield Maintenance/Open .......... 15 147,099,562 9.9 9.7 10.7 Yield Maintenance/Open ....... 2 134,000,000 9.1 9.1 8.9 Lockout/Defeasance or Yield Maintenance/Open .......... 1 22,500,000 1.5 1.9 0.0 --- -------------- ----- ----- ----- 109 $1,479,435,064 100.0% 100.0% 100.0% --- -------------- ----- ----- ----- SHADOW RATED LOANS(4) % OF INITIAL % OF % OF LOAN CUT-OFF DATE POOL GROUP 1 GROUP 2 NAME BALANCE BALANCE BALANCE BALANCE MOODY'S S&P - ------------------------------------------------------------------------------------------- West Los Angeles Commerce Plaza ............ $13,500,000 0.9% 1.2% 0.0% NR A+ The Greentree Shopping Center ........... $11,455,165 0.8% 1.0% 0.0% Aa3 AAA (4) 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. * With respect to 4 Mortgage Loans (loan numbers 24.01, 24.02, 25.01, 25.02, 44.01, 44.02, 75.01 and 75.02), the related Mortgage Loan is comprised of a component A note and a component B note which are secured by the same Mortgaged Property and are both assets of the Trust Fund. In cases where the terms of the component notes differ, the portions of the Mortgage Loan represented by such component notes have been allocated to separate categories accordingly, and as a result the totals of the aggregate number of Mortgage Loans may not be equal. For detailed information about each component note comprising these Mortgage Loans, see Annex A-1 to 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 15 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 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 PROPERTY TYPE - ------------------------------ -------- ---------- ----- ------------ ------- ------- ----------------------------- Ashford Hospitality Pool 5 ... Wachovia 1 / 5 1 $158,105,000 10.7% 13.6% Hospitality-Various Nestle 94 Pool ............... Wachovia 1 / 3 1 106,000,000 7.2 9.1% Industrial-Distribution Sheraton Park Hotel -- Anaheim, CA ............... Wachovia 1 / 1 1 65,000,000 4.4 5.6% Hospitality-Full Service Integrated Health Campus ..... Wachovia 1 / 1 1 62,200,000 4.2 5.3% Office-Medical 2100 Ross .................... Wachovia 1 / 1 1 61,000,000 4.1 5.2% Office-CBD Cole REIT Portfolio .......... Wachovia 14 / 14 1 46,633,000 3.2 4.0% Retail & Industrial Mallard Glen Apartments ...... Wachovia 1 / 1 2 37,440,000 2.5 11.8% Multifamily-Conventional Llano Logistics .............. BCRE 1 / 1 1 32,800,000 2.2 2.8% Industrial-Warehouse Kedron Village - Phase II .... Wachovia 1 / 1 1 29,700,000 2.0 2.6% Retail-Anchored University House at Tempe Apartments ................ Wachovia 1 / 1 2 29,412,500 2.0 9.3% Multifamily-Student Housing ------- ------------ ---- 23 / 29 $628,290,500 42.5% ======= ============ ==== Reflections at the Lakes ..... Wachovia 1 / 1 2 $ 28,000,000 1.9% 8.9% Multifamily-Conventional Glenbrooke at Palm Bay ....... BCRE 1 / 1 2 27,110,000 1.8 8.6% Multifamily-Senior Housing / Independent Living One & Two Riverwood .......... Wachovia 1 / 1 1 26,500,000 1.8 2.3% Office-Suburban The Preserve at the Fort Apartments ................ Wachovia 1 / 1 2 26,250,000 1.8 8.3% Multifamily-Student Housing The Falls at Highpoint Apartments ................ Wachovia 1 / 1 2 26,000,000 1.8 8.2% Multifamily-Conventional Cole Portfolio ............... Wachovia 10 / 10 1 25,442,500 1.7 2.2% Retail-Single Tenant West Volusia Towne Centre .... Wachovia 1 / 1 1 25,300,000 1.7 2.2% Retail-Anchored Waterstone Apartments ........ Wachovia 1 / 1 2 23,750,000 1.6 7.5% Multifamily-Conventional Home Depot - Paterson, NJ .... Wachovia 1 / 1 1 23,000,000 1.6 2.0% Retail-Single Tenant Poway Crossings .............. Wachovia 1 / 1 1 22,500,000 1.5 1.9% Retail-Anchored ------- ------------ ---- 19 / 19 $253,852,500 17.2% ======= ============ ==== 42 / 48 $882,143,000 59.6% ======= ============ ==== WEIGHTED WEIGHTED AVERAGE WEIGHTED CUT-OFF DATE WEIGHTED AVERAGE LTV RATIO AVERAGE BALANCE PER AVERAGE CUT-OFF DATE AT MATURITY MORTGAGE LOAN NAME SF/UNIT/ROOM(1) DSCR(1) LTV RATIO(1)(2) OR ARD(1)(2) RATE(3) - ------------------------------ --------------- -------- --------------- ------------ --------- Ashford Hospitality Pool 5 ... $138,567 1.37x 79.9% 74.7% 5.952% Nestle 94 Pool ............... $ 41 1.44x 57.2% 57.2% 6.320% Sheraton Park Hotel - Anaheim, CA ............... $132,653 1.38x 73.5% 73.5% 6.300% Integrated Health Campus ..... $ 206 1.11x 75.7% 70.6% 5.790% 2100 Ross .................... $ 72 1.64x 74.4% 74.4% 6.065% Cole REIT Portfolio .......... $ 91 1.75x 66.2% 66.2% 5.704% Mallard Glen Apartments ...... $ 81,391 1.10x 80.0% 70.6% 5.830% Llano Logistics .............. $ 66 1.35x 66.9% 61.5% 5.880% Kedron Village - Phase II .... $ 189 1.16x 79.8% 74.4% 5.700% University House at Tempe Apartments ................ $ 73,531 1.51x 64.6% 64.6% 6.378% 1.39x 72.1% 69.2% 6.024% Reflections at the Lakes ..... $ 85,890 1.28x 71.8% 71.8% 5.750% Glenbrooke at Palm Bay ....... $159,471 1.33x 72.0% 72.0% 5.948% One & Two Riverwood .......... $ 135 1.30x 72.6% 69.1% 6.190% The Preserve at the Fort Apartments ................ $ 83,866 1.13x 75.6% 70.6% 5.830% The Falls at Highpoint Apartments ................ $ 36,723 1.27x 73.8% 66.5% 5.850% Cole Portfolio ............... $ 134 2.03x 58.2% 58.2% 5.329% West Volusia Towne Centre .... $ 164 1.12x 71.3% 62.4% 6.760% Waterstone Apartments ........ $ 77,110 1.35x 66.8% 66.8% 6.180% Home Depot - Paterson, NJ .... $ 169 1.21x 79.9% 79.9% 6.000% Poway Crossings .............. $ 196 1.11x 72.1% 68.3% 6.940% 1.31x 71.5% 68.6% 6.062% 1.37x 71.9% 69.0% 6.035% - ---------- (1) Nestle 94 Pool, 2100 Ross, Llano Logistics and Glenbrooke at Palm Bay are each part of a split loan structure that includes one or more subordinate companion loans that are not included in the trust fund. With respect to each of these mortgage loans, unless otherwise specified, the calculations of LTV Ratios, DSC Ratio and Cut-Off Date Balance per square foot/unit are based on the aggregate indebtedness of or debt service on, as applicable, the mortgage loan, but not any related subordinate companion loan. (2) Certain of the mortgage loans reflect LTV Ratios that have been calculated on an "as-stabilized" basis. See "Additional Mortgage Loan Information" herein. Also, see "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" and "RISK FACTORS--The Mortgage Loans--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 mortgage rate with respect to the One & Two Riverwood and The Falls at Highpoint Apartments 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 amortizing period of the related Mortgage Loan. See "DESCRIPTION OF THE MORTGAGE POOL--Additional Mortgage Loan Information" in the Prospectus Supplement. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 16 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 17 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 18 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $158,105,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 10.7% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Ashford Hospitality Trust, Inc. TYPE OF SECURITY Fee PARTIAL RELEASE(1) Yes MORTGAGE RATE 5.9523333% MATURITY DATE April 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 113 / 360 LOCKBOX Yes UP-FRONT RESERVES TAX Yes ENGINEERING $508,125 ONGOING ANNUAL RESERVES TAX Yes FF&E(2) Yes ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $158,105,000 CUT-OFF DATE BALANCE/ROOM $138,567 CUT-OFF DATE LTV 79.9% MATURITY DATE LTV 74.7% UW DSCR ON NCF 1.37x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 5 LOCATION Various PROPERTY TYPE Hospitality - Various SIZE (ROOMS) 1,141 OCCUPANCY AS OF JUNE 15 OR JUNE 30, 2007(3) 70.5% YEAR BUILT / YEAR RENOVATED Various / Various APPRAISED VALUE $197,800,000 PROPERTY MANAGEMENT Various UW ECONOMIC OCCUPANCY 70.9% UW REVENUES $60,561,778 UW TOTAL EXPENSES $42,405,625 UW NET OPERATING INCOME (NOI) $18,156,154 UW NET CASH FLOW (NCF) $15,523,811 2005 NET OPERATING INCOME (NOI) $13,885,832 2006 NET OPERATING INCOME (NOI) $16,695,680 TTM JUNE 2007 NET OPERATING INCOME (NOI) $17,616,353 - -------------------------------------------------------------------------------- (1) The Ashford Hospitality Pool 5 Loan allows for partial release under certain circumstances. See "Partial Release" below. (2) Ongoing annual deposits to the FF&E are 4.0% of prior year's gross revenue payable monthly. (3) Based on the trailing 12-month period ending June 15, 2007 for Marriott -- Bridgewater, NJ Mortgaged Property and Marriott Suites - Dallas, TX Mortgaged Property. Based on the trailing 12-month period ending June 30, 2007 for Marriott - Durham, NC Mortgaged Property, Sheraton - Langhorne, PA Mortgaged Property and Embassy Suites - Flagstaff, AZ Mortgaged Property. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 19 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 SUMMARY ALLOCATED CUT-OFF ALLOCATED RELEASE YEAR DATE CUT-OFF DATE PRICE BUILT/ BALANCE APPRAISED PROPERTY NAME BALANCE PERCENTAGE RENOVATED ROOMS PER ROOM VALUE - ---------------------------------------------------------------------------------------------------------------- Marriott - Bridgewater, NJ ........ $ 75,391,500 125% 2002 / NA 346 $217,895 $ 96,100,000 Marriott Suites - Dallas, TX ...... 26,941,700 120% 1998 / 2006 265 $101,667 33,800,000 Marriott - Durham, NC ............. 25,983,300 110% 1988 / 2006 225 $115,481 31,500,000 Sheraton - Langhorne, PA .......... 18,381,600 110% 1986 / 2004 186 $ 98,826 22,600,000 Embassy Suites - Flagstaff, AZ .... 11,406,900 115% 1988 / 2006 119 $ 95,856 13,800,000 ------------ ----- ------------ TOTAL/AVERAGE ..................... $158,105,000 1,141 $138,567 $197,800,000 ============ ===== ============ TRAILING APPRAISED 12-MONTH UNDERWRITTEN VALUE JUNE 2007 UW UW UW NET CASH PROPERTY NAME PER ROOM OCCUPANCY OCCUPANCY ADR REVPAR FLOW - ---------------------------------------------------------------------------------------------------------- Marriott - Bridgewater, NJ ........ $277,746 76.3% 76.2% $161.80 $123.37 $ 7,767,094 Marriott Suites - Dallas, TX ...... $127,547 57.6% 61.5% $132.29 $ 81.36 2,338,635 Marriott - Durham, NC ............. $140,000 71.0% 71.0% $141.46 $100.45 2,557,413 Sheraton - Langhorne, PA .......... $121,505 68.5% 68.5% $124.24 $ 85.07 1,703,658 Embassy Suites - Flagstaff, AZ .... $115,966 85.2% 80.0% $120.72 $ 96.58 1,157,010 ----------- TOTAL/AVERAGE ..................... $173,357 70.5% 70.9% $141.10 $100.06 $15,523,811 =========== ASHFORD HOSPITALITY POOL 5 FINANCIAL PERFORMANCE SUMMARY PERIOD OCCUPANCY ADR REVPAR - --------------------------------------------------------------------------------------------- 2003 ........................................................ 68.2% $119.98 $ 81.55 2004 ........................................................ 69.4% $123.36 $ 85.32 2005 ........................................................ 68.8% $128.90 $ 88.77 2006 ........................................................ 70.4% $138.58 $ 97.89 Trailing 12-Month Through June 15, 2007, or June 30, 2007 ... 70.5% $140.12 $ 98.84 UW .......................................................... 70.9% $141.10 $100.06 FINANCIAL PERFORMANCE SUMMARY - MARRIOTT - BRIDGEWATER, NJ PERIOD OCCUPANCY ADR REVPAR - --------------------------------------------------------------------------------------------- 2003 ........................................................ 66.8% $155.95 $104.24 2004 ........................................................ 69.5% $158.77 $110.40 2005 ........................................................ 72.5% $157.52 $114.22 2006 ........................................................ 75.7% $160.62 $121.63 Trailing 12-Month Through June 15, 2007 ..................... 76.3% $161.80 $123.37 UW .......................................................... 76.2% $161.80 $123.37 FINANCIAL PERFORMANCE SUMMARY - MARRIOTT SUITES - DALLAS, TX PERIOD OCCUPANCY ADR REVPAR - --------------------------------------------------------------------------------------------- 2003 ........................................................ 71.4% $ 99.52 $71.09 2004 ........................................................ 73.2% $ 97.46 $71.35 2005 ........................................................ 70.2% $106.75 $74.95 2006 ........................................................ 60.6% $131.31 $79.57 Trailing 12-Month Through June 15, 2007 ..................... 57.6% $132.29 $76.13 UW .......................................................... 61.5% $132.29 $81.36 This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 20 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- FINANCIAL PERFORMANCE SUMMARY - MARRIOTT - DURHAM, NC PERIOD OCCUPANCY ADR REVPAR - ---------------------------------------------------------------------------- 2003 ...................................... 66.3% $111.91 $ 74.18 2004 ...................................... 68.3% $119.47 $ 81.57 2005 ...................................... 69.0% $127.54 $ 88.03 2006 ...................................... 69.6% $140.26 $ 97.56 Trailing 12-Month Through June 30, 2007 ... 71.0% $141.46 $100.45 UW ........................................ 71.0% $141.46 $100.45 FINANCIAL PERFORMANCE SUMMARY - SHERATON - LANGHORNE, PA PERIOD OCCUPANCY ADR REVPAR - ---------------------------------------------------------------------------- 2003 ...................................... 68.2% $109.83 $74.88 2004 ...................................... 61.6% $115.91 $71.45 2005 ...................................... 52.9% $125.63 $66.52 2006 ...................................... 68.8% $123.12 $84.74 Trailing 12-Month Through June 30, 2007 ... 68.5% $124.24 $85.07 UW ........................................ 68.5% $124.24 $85.07 FINANCIAL PERFORMANCE SUMMARY - EMBASSY SUITES - FLAGSTAFF, AZ PERIOD OCCUPANCY ADR REVPAR - ---------------------------------------------------------------------------- 2003 ...................................... 68.7% $ 92.08 $63.27 2004 ...................................... 74.5% $ 97.07 $72.30 2005 ...................................... 79.6% $102.71 $81.77 2006 ...................................... 81.3% $111.72 $90.86 Trailing 12-Month Through June 30, 2007 ... 85.2% $113.42 $96.58 UW ........................................ 80.0% $120.72 $96.58 This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 21 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- COMPETITIVE SUMMARY - MARRIOTT - BRIDGEWATER, NJ ESTIMATED 2006* ----------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - ------------------------------------------------------------------------------------------------------------------------------ Marriott - Bridgewater, NJ (subject).... 346 76.7% $158.71 $121.81 124.6% 129.8% 158.8% Courtyard Somerset...................... 162 78.0% $100.00 $ 78.00 126.7% 81.8% 101.7% Hilton Garden Inn....................... 129 53.0% $142.00 $ 75.26 86.1% 116.1% 98.1% Embassy Suites Piscataway............... 221 58.0% $126.00 $ 73.08 94.2% 103.0% 95.3% Doubletree Somerset..................... 361 51.0% $113.00 $ 57.63 82.9% 92.4% 75.1% Marriott Somerset....................... 439 64.0% $106.00 $ 67.84 104.0% 86.7% 88.5% Holiday Inn Somerset.................... 284 43.0% $ 97.00 $ 41.71 69.9% 79.3% 54.4% Courtyard Basking Ridge................. 235 70.0% $145.16 $101.61 113.7% 118.7% 132.5% ----- TOTAL/WEIGHTED AVERAGE.................. 2,177 61.6% $122.31 $ 76.69 100.0% 100.0% 100.0% ===== * Based on appraisal prepared by HVS International dated March 30, 2007. COMPETITIVE SUMMARY - MARRIOTT SUITES - DALLAS, TX ESTIMATED 2006* ---------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - ------------------------------------------------------------------------------------------------------------------------------- Marriott Suites - Dallas, TX (subject).... 265 60.7% $131.14 $79.60 94.4% 129.7% 122.6% Doubletree Market Center.................. 228 64.0% $ 95.00 $60.80 99.5% 94.0% 93.6% Embassy Suites Market Center.............. 244 68.0% $112.00 $76.16 105.7% 110.8% 117.3% Crowne Plaza Market Center................ 354 63.0% $ 80.00 $50.40 98.0% 79.1% 77.6% Sheraton Suites Market Center............. 251 66.0% $ 97.00 $64.02 102.6% 96.0% 98.6% Hilton Garden Inn......................... 240 65.0% $ 98.00 $63.70 101.1% 96.9% 98.1% ----- TOTAL/WEIGHTED AVERAGE.................... 1,582 64.3% $101.09 $64.94 100.0% 100.0% 100.0% ===== * Based on appraisal prepared by HVS International dated March 27, 2007. COMPETITIVE SUMMARY - MARRIOTT - DURHAM, NC ESTIMATED 2006* ---------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - ------------------------------------------------------------------------------------------------------------------------ Marriott - Durham, NC (subject).... 225 71.0% $136.74 $97.64 98.1% 120.4% 118.7% Sheraton Imperial.................. 331 70.0% $122.00 $85.40 96.7% 107.4% 103.8% Hilton Raleigh Durham Airport...... 249 75.0% $116.00 $87.00 103.6% 102.1% 105.8% Doubletree Guest Suites............ 203 79.0% $114.00 $90.06 109.2% 100.4% 109.5% Wyndham Hotel...................... 175 71.0% $ 78.00 $55.38 98.1% 68.7% 67.3% Radisson at RTP.................... 197 69.0% $101.00 $69.19 95.3% 88.9% 84.1% ----- TOTAL/WEIGHTED AVERAGE............. 1,380 72.4% $113.57 $82.25 100.0% 100.0% 100.0% ===== * Based on appraisal prepared by HVS International dated March 23, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 22 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- COMPETITIVE SUMMARY - SHERATON - LANGHORNE, PA ESTIMATED 2006* ---------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - --------------------------------------------------------------------------------------------------------------------------- Sheraton - Langhorne, PA (subject).... 186 70.2% $120.67 $84.74 102.5% 111.1% 113.6% Courtyard Langhorne................... 118 75.0% $120.00 $90.00 109.5% 110.5% 120.7% Holiday Inn Select.................... 214 64.0% $108.00 $69.12 93.5% 99.4% 92.7% Radisson.............................. 272 68.0% $ 96.00 $65.28 99.3% 88.4% 87.5% --- TOTAL/WEIGHTED AVERAGE................ 790 68.5% $108.64 $74.59 100.0% 100.0% 100.0% === * Based on appraisal prepared by HVS International dated March 30, 2007. COMPETITIVE SUMMARY - EMBASSY SUITES - FLAGSTAFF, AZ ESTIMATED 2006* ---------------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - --------------------------------------------------------------------------------------------------------------------------------- Embassy Suites - Flagstaff, AZ (subject).... 119 81.3% $111.71 $90.86 107.6% 112.6% 121.1% Radisson Woodlands Hotel.................... 183 69.0% $ 98.00 $67.62 91.3% 98.8% 90.1% Hilton Garden Inn Flagstaff................. 89 75.0% $ 95.00 $71.25 99.3% 95.8% 94.9% Hampton Inn Suites Flagstaff................ 126 80.0% $ 92.00 $73.60 105.9% 92.8% 98.1% --- TOTAL/WEIGHTED AVERAGE...................... 517 75.5% $ 99.18 $75.05 100.0% 100.0% 100.0% === * Based on appraisal prepared by HVS International dated March 21, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 23 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- FACILITY SUMMARY - MARRIOTT - BRIDGEWATER, NJ GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King ............................................................. 230 Double/Double .................................................... 116 --- TOTAL.......................................................... 346 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- T-bones Restaurant ............................................... 120 Martini's Bar & Lounge ........................................... 30 --- TOTAL.......................................................... 150 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- Grand Ballroom ................................................... 8,556 Junior Ballroom .................................................. 1,218 Mill Pond ........................................................ 435 Bedens Brook ..................................................... 450 Kingston ......................................................... 402 Stonebridge ...................................................... 246 ------ TOTAL.......................................................... 11,307 ====== AMENITIES - -------------------------------------------------------------------------------- Indoor Swimming Pool Indoor Whirlpool Business Center Exercise Room Guest Laundry Gift Shop FACILITY SUMMARY - MARRIOTT SUITES - DALLAS, TX GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King ............................................................. 195 Double/Double .................................................... 69 Hospitality Suite ................................................ 1 --- TOTAL ......................................................... 265 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- Allies Restaurant ................................................ 92 Verandah Lounge .................................................. 35 --- TOTAL ......................................................... 127 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- Salon 1 .......................................................... 1,210 Salon 2 .......................................................... 1,226 Salon 3 .......................................................... 1,400 Austin ........................................................... 435 Dallas ........................................................... 429 San Antonio ...................................................... 437 ----- TOTAL ......................................................... 5,137 ===== AMENITIES - -------------------------------------------------------------------------------- Outdoor Swimming Pool Outdoor Hot Tub Exercise Room Gift Shop FACILITY SUMMARY - MARRIOTT - DURHAM, NC GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King - Regular ................................................... 84 Double/Double - Regular .......................................... 68 Concierge Level - King ........................................... 65 Concierge Level - Double/Double .................................. 6 Hospitality Suites ............................................... 2 --- TOTAL.......................................................... 225 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- Parkside Restaurant .............................................. 100 Lobby Lounge ..................................................... 20 --- TOTAL.......................................................... 120 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- Ballroom (divisible by four) ..................................... 2,816 Durham Room ...................................................... 583 Raleigh Room ..................................................... 583 Triangle Room .................................................... 350 ----- TOTAL .......................................................... 4,332 ===== AMENITIES - -------------------------------------------------------------------------------- Concierge Lounge Business Center Indoor Swimming Pool and Whirlpool Fitness Center This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 24 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- FACILITY SUMMARY - SHERATON - LANGHORNE, PA GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King ............................................................. 84 Double/Double .................................................... 97 One Bedroom Suite ................................................ 5 --- TOTAL.......................................................... 186 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- University Grille ................................................ 130 University Lounge ................................................ 35 --- TOTAL.......................................................... 165 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- University Ballroom .............................................. 4,750 Princeton Ballroom ............................................... 1,960 Rider ............................................................ 400 Villanova Amphitheatre ........................................... 400 Penn Room ........................................................ 572 Lehigh ........................................................... 552 LaSalle .......................................................... 442 Drexel ........................................................... 250 ----- TOTAL.......................................................... 9,326 ===== AMENITIES - -------------------------------------------------------------------------------- Indoor Swimming Pool Indoor Whirlpool Game Room Exercise Room Sundry Shop FACILITY SUMMARY - EMABASSY SUITES - FLAGSTAFF, AZ GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King Suites ...................................................... 37 Double/Double Suites ............................................. 80 Two Bedroom Suites ............................................... 2 --- TOTAL.......................................................... 119 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- Breakfast Restaurant ............................................. 56 Ponderosa Pub .................................................... 18 --- TOTAL.......................................................... 74 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- Whispering Pines ................................................. 650 --- TOTAL.......................................................... 650 === AMENITIES - -------------------------------------------------------------------------------- Outdoor pool and whirlpool Fitness room Guest laundry Business center Gift shop This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 25 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- o THE LOAN. The Ashford Hospitality Pool 5 Mortgage Loan (the "Ashford Hospitality Pool 5 Loan") represents a $158,105,000 mortgage loan evidenced by a promissory note (the "Ashford Hospitality Pool 5 Note") in the principal amount of $158,105,000. The Ashford Hospitality Pool 5 Loan is secured by first priority mortgages and deeds of trust (collectively, the "Ashford Hospitality Pool 5 Mortgage"), subject to permitted encumbrances, on the borrowers' respective fee interests in certain parcels of real property located in Arizona, North Carolina, New Jersey, Pennsylvania and Texas. The Ashford Hospitality Pool 5 Loan represents approximately 10.7% of the Cut-Off Date Pool Balance. The Ashford Hospitality Pool 5 Loan was originated on April 11, 2007, and has an outstanding principal balance as of the Cut-Off Date of $158,105,000. The Ashford Hospitality Pool 5 Note bears interest at 5.9523333% per annum. The Ashford Hospitality Pool 5 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 5 Loan has a remaining term of 113 months and matures on April 11, 2017. The Ashford Hospitality Pool 5 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 Durham I LLC and Ashford Durham II LLC, as tenants in common, Ashford Bridgewater Hotel Partnership, LP, Ashford Market Center LP, Ashford Flagstaff, LP and Ashford Bucks County LLC, all special purpose entities. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Ashford Hospitality Pool 5 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 MORTGAGED PROPERTIES. The Marriott - Bridgewater, NJ Mortgaged Property, constructed in 2002, is an 8-story full service hotel containing approximately 346 rooms situated on approximately 8.6 acres. The Mortgaged Property is located in Bridgewater, New Jersey along Interstate 287. The Mortgaged Property features a restaurant, a bar and lounge, approximately 11,307 square feet of meeting space, an exercise room, an indoor 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 Marriott - Bridgewater, NJ Mortgaged Property was approximately 76.3%. The Marriott Suites - Dallas, TX Mortgaged Property, constructed in 1998 and renovated in 2006, is a 12-story full service hotel containing approximately 265 rooms situated on approximately 4.6 acres. The Mortgaged Property is located in the Dallas Market Center area northeast of the central business district of Dallas, Texas. The Mortgaged Property features a restaurant, a lounge, approximately 5,137 square feet of meeting space, an exercise room, an 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 Marriott Suites - Dallas, TX Mortgaged Property was approximately 57.6%. The Marriott - Durham, NC Mortgaged Property, constructed in 1988 and renovated in 2006, is a six-story full service hotel containing approximately 225 rooms situated on approximately 10.2 acres. The Mortgaged Property is located adjacent to Research Triangle Park in Durham, North Carolina. The Mortgaged Property features a restaurant and lounge, approximately 4,332 square feet of meeting space, a fitness center, an indoor swimming pool and whirlpool and a business center. As of the trailing 12-month period ending June 30, 2007, the occupancy rate for the Marriott - Durham, NC Mortgaged Property was approximately 71.0%. The Sheraton - Langhorne, PA Mortgaged Property, constructed in 1986 and renovated in 2004, is a 14-story full service hotel containing approximately 186 rooms situated on approximately 4.6 acres in Langhorne, Pennsylvania. The Mortgaged Property features a restaurant and lounge, approximately 9,326 square feet of meeting space, a fitness center, an indoor swimming pool and whirlpool, a business center and a gift shop. As of the trailing 12-month period ending June 30, 2007, the occupancy rate for the Sheraton - Langhorne, PA Mortgaged Property was approximately 68.5%. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 26 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ASHFORD HOSPITALITY POOL 5 - -------------------------------------------------------------------------------- The Embassy Suites - Flagstaff, AZ Mortgaged Property, constructed in 1988 and renovated in 2006, is a 3-story limited service hotel containing approximately 119 rooms situated on approximately 2.9 acres. The Mortgaged Property is adjacent to Northern Arizona University in Flagstaff, Arizona. The Mortgaged Property features a breakfast area, a bar and lounge, an exercise room, an outdoor swimming pool and whirlpool and a business center. As of the trailing 12-month period ending June 30, 2007, the occupancy rate for the Embassy Suites - Flagstaff, AZ Mortgaged Property was approximately 85.2%. o PARTIAL RELEASE. The release of an individual Mortgaged Property will be permitted subject to the satisfaction of certain conditions as set forth in the related Ashford Hospitality Pool 5 Loan documents including, but not limited to, the following: (i) no event of default shall have occurred and is continuing; and (ii) 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 Release Price Percentage (as defined in the related Ashford Hospitality Pool 5 Loan documents and detailed in the summary on page 19 herein), multiplied by the allocated loan amount with respect to the cross-collateralized property being released, (b) such amount as would cause the Debt Yield (as defined in the related Ashford Hospitality Pool 5 Loan documents) subsequent to the contemplated release to be equal to or greater than the Debt Yield prior to the contemplated release and (c) such amount as would cause the Debt Yield subsequent to the contemplated release to be no less than the Debt Yield at origination. o LOCKBOX ACCOUNT. All revenue from the Mortgaged Properties will be deposited into a mortgagor-designated lockbox account. o MANAGEMENT. The Mortgaged Properties are managed by Marriott International Inc., Marriott Hotel Services, Inc. and Remington Lodging & Hospitality, L.P. (each a "Manager", collectively the "Managers"). Marriott International, Inc. and Marriott Hotel Services, Inc. an affiliate of Marriott International, Inc., are the property managers for the Marriott Suites - Dallas, TX and the Marriott - Bridgewater, NJ, respectively, both of which secure the Ashford Hospitality Pool 5 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 lodging, and synthetic fuel segments. As of January 3, 2007, the company operated or franchised approximately 2,800 lodging properties. Remington Lodging & Hospitality, L.P. ("Remington") is the property manager for Marriott - Durham, NC, Sheraton - Langhorne, PA and Embassy Suites - Flagstaff, AZ, three of the Mortgaged Properties securing the Ashford Hospitality Pool 5 Loan. Remington is a full-service management company with over 35 years of experience. As of January 4, 2007, Remington operated more than 40 hotels in 19 states with over 8,200 hotel rooms and over 4,000 associates. Current brand operations include Marriott, Residence Inn, Sheraton, Crowne Plaza, Hilton, Embassy Suites, Doubletree and Radisson. o PENDING RENOVATIONS. There are several customary capital improvement projects planned at the Mortgaged Properties to maintain and/or improve the current physical condition. The borrowers have prepared a capital expenditures forecast which calls for approximately $35,000,000 in improvements to the Mortgaged Properties over the next 5 years. All of these expenditures will be funded with escrowed funds currently held in connection with the Ashford Hospitality Pool 5 Loan or will be directly funded by the borrowers. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 27 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 28 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 29 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 30 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $106,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 7.2% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Capital Lease Funding, Inc. TYPE OF SECURITY(1) Both PARTIAL RELEASE(2) Yes MORTGAGE RATE 6.320% MATURITY DATE August 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 None ONGOING ANNUAL RESERVES TAX / INSURANCE Springing LOC(3) Springing ADDITIONAL FINANCING(4) Senior Note A-2 $11,000,000 Junior Note A $3,800,000 Note B $24,657,509 TRUST ASSET WHOLE MORTGAGE LOAN ------------ ------------------- CUT-OFF DATE BALANCE $106,000,000 $145,457,509 CUT-OFF DATE BALANCE/SF $ 41 $ 57 CUT-OFF DATE LTV 57.2% 78.5% MATURITY DATE LTV 57.2% 65.0% UW DSCR ON NCF 1.44x 0.69x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 3 LOCATION Various PROPERTY TYPE Industrial - Distribution SIZE (SF) 2,560,351 OCCUPANCY AS OF VARIOUS DATES 100.0% YEAR BUILT / YEAR RENOVATED 1994 / NA APPRAISED VALUE $185,400,000 PROPERTY MANAGEMENT Self-Managed UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $11,589,015 UW TOTAL EXPENSES $1,235,890 UW NET OPERATING INCOME (NOI) $10,353,124 UW NET CASH FLOW (NCF) $9,627,650 - -------------------------------------------------------------------------------- (1) The Mortgaged Property is held by the borrower as an estate for years through January 1, 2013. At the expiration of the estate for years, the borrower has the option to either acquire the land at fair market value or to pay the rent due under the ground lease ($1,120,000 for all 3 Mortgaged Properties). The ground lease has an initial term of five years, with eleven five-year renewal options. (2) The Nestle 94 Pool Loan permits partial release of certain properties comprising the Mortgaged Property under certain circumstances including the payment of a release premium of 120% of the allocated loan amount. See "Release" below. (3) In the event Nestle does not deliver written notice to Mortgagor by January 1, 2012, electing to extend the term of the Nestle lease through December 31, 2017, and the borrower has not entered into a new lease agreement reasonably acceptable to the mortgagee by January 1, 2012 with a tenant reasonably acceptable to the mortgagee for a term extending through at least August 1, 2018, a letter of credit in the amount of $21,094,795 will be required. (4) Future subordinate secured debt is permitted, the express purpose of which would be to finance a Substantial Addition (as defined in the related Nestle lease). Conditions for such financing include, but are not limited to: (i) terms of the new financing must be substantially similar to those of the existing B-Note, (ii) the aggregate indebtedness must not exceed 90.0% of the fair market value of the Mortgaged Property, (iii) the fair market value of the Substantial Addition must be greater than or equal to 112.0% of the original loan amount and (iv) certain other conditions as specified in the related Mortgage Loan documents. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 31 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- NESTLE 94 POOL SUMMARY ALLOCATED ALLOCATED CUT-OFF CUT-OFF RELEASE NET DATE PROPERTY DATE PRICE YEAR RENTABLE BALANCE APPRAISED PROPERTY NAME TYPE LOCATION BALANCE PERCENTAGE BUILT AREA (SF) PSF VALUE - ----------------------------------------------------------------------------------------------------------------------------- 555 Nestle Way ....... Industrial - Distribution Breinigsville, PA $ 46,895,487 120% 1994 1,045,153 $45 $ 78,900,000 Nestle Distribution Industrial - Facility .......... Distribution Lathrop, CA 32,976,872 120% 1994 751,021 $44 58,100,000 2909 Pleasant Industrial - Center Road........ Distribution Yoder, IN 26,127,641 120% 1994 764,177 $34 48,400,000 ------------ --------- ------------ TOTAL/AVERAGE ........ $106,000,000 2,560,351 $41 $185,400,000 ============ ========= ============ APPRAISED UNDERWRITTEN VALUE UNDERWRITTEN NET CASH PROPERTY NAME PSF OCCUPANCY OCCUPANCY FLOW - ------------------------------------------------------------------------ 555 Nestle Way ....... $75 100.0% 95.0% $3,819,950 Nestle Distribution Facility........... $77 100.0% 95.0% 3,284,883 2909 Pleasant Center Road........ $63 100.0% 95.0% 2,522,817 ---------- TOTAL/AVERAGE ........ $72 100.0% 95.0% $9,627,650 ========== NESTLE 94 POOL TENANT SUMMARY % OF NET RATINGS(1) NET RENTABLE RENTABLE BASE ANNUAL TENANT PROPERTY NAME FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF BASE RENT - ------------------------------------------------------------------------------------------------------------ Nestle Food Company ...... 555 Nestle Way AA+/Aa1/AA 1,045,153 40.8% $6.03 $ 6,302,273 Nestle Food Company Nestle (Subleased to Del Distribution Monte Corp.)(3)........ Facility AA+/Aa1/AA 751,021 29.3 $5.52 4,145,636 Nestle Food Company (Subleased to General 2909 Pleasant Mills)(2).............. Center Road AA+/Aa1/AA 764,177 29.8 $4.92 3,759,751 --------- ----- ----------- TOTAL TENANTS 2,560,351 100.0% $5.55 $14,207,659 OCCUPIED TOTAL ........... 2,560,351 100.0% $5.55 $14,207,659 =========== VACANT SPACE ............. 0 0.0 --------- ----- PROPERTY TOTAL ........... 2,560,351 100.0% ========= ===== % OF TOTAL ANNUAL LEASE TENANT BASE RENT EXPIRATION - ---------------------------------------------------------- Nestle Food Company ...... 44.4% December 2012(4) Nestle Food Company (Subleased to Del Monte Corp.)(3)........ 29.2 December 2012(5) Nestle Food Company (Subleased to General Mills)(2).............. 26.5 December 2012(6) ----- TOTAL TENANTS 100.0% OCCUPIED TOTAL ........... 100.0% ===== VACANT SPACE ............. PROPERTY TOTAL ........... (1) Certain ratings are those of the parent whether or not the parent guarantees the lease. (2) The 2909 Pleasant Center Road Mortgaged Property is subleased to General Mills at a current rental rate of $3.04 per square foot expiring December 2012. As of October 10, 2007, General Mills was rated BBB+/Baa1/BBB+ by Fitch/Moody's/S&P. (3) The Nestle Distribution Facility Mortgaged Property is subleased to Del Monte Corp. at a current rental rate of $3.82 per square foot expiring December 2012. As of October 10, 2007, Del Monte Corp. was rated BB/NR/BB- by Fitch/Moody's/S&P. (4) Lease expires in December 2012 with six five-year renewal options at a rental rate of $5.42 per square foot. (5) Lease expires in December 2012 with six five-year renewal options at a rental rate of $4.80 per square foot. (6) Lease expires in December 2012 with six five-year renewal options at a rental rate of $4.43 per square foot. NESTLE 94 POOL LEASE EXPIRATION SCHEDULE CUMULATIVE % % OF CUMULATIVE % # OF LEASES WA BASE RENT/SF TOTAL SF % OF TOTAL SF OF SF BASE RENT OF BASE YEAR EXPIRING EXPIRING EXPIRING EXPIRING* EXPIRING* EXPIRING* RENT EXPIRING* - ------------------------------------------------------------------------------------------------------- 2012 3 $5.55 2,560,351 100.0% 100.0% 100.0% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 32 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Nestle 94 Pool Loan") is secured by first mortgages or deeds of trust encumbering 3 industrial-distribution properties located in Pennsylvania, California and Indiana. The Nestle 94 Pool Loan represents approximately 7.2% of the Cut-Off Date Pool Balance. The Nestle 94 Pool Loan was originated on July 16, 2007, and has a principal balance as of the Cut-Off Date of $106,000,000. The Nestle 94 Pool Loan is a portion of a whole loan with an original principal balance of $146,543,794. The other loans related to the Nestle 94 Pool Loan are evidenced by separate subordinate notes, dated July 16, 2007 (the "Nestle 94 Pool Subordinate Companion Loans", with an aggregate original principal balance of $40,543,794 and, together with the Nestle 94 Pool Loan, comprise the "Nestle 94 Pool Whole Loan"). The Nestle 94 Pool Subordinate Companion Loans will not be an asset of the Trust Fund. The Nestle 94 Pool Loan and the Nestle 94 Pool Subordinate Companion Loans 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 Nestle 94 Pool Loan provides for interest-only payments for the entire loan term. The Nestle 94 Pool Loan has a remaining term of 57 months and matures on August 11, 2012. The Nestle 94 Pool Loan may be prepaid at any time through and including May 11, 2012, with payment of the greater of yield maintenance or 1.0% of the prepaid amount, and without penalty thereafter. o THE BORROWERS. The borrowers are CLF Lathrop Business Trust, a Virginia business trust, CLF Fort Wayne LLC and CLF Breinigsville Business Trust, a Virginia business trust, as special purpose entities. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Nestle 94 Pool Loan. The sponsor of the borrowers is Capital Lease Funding, Inc. ("Capital Lease"), a publicly traded net lease real estate investment trust. Capital Lease owns and finances commercial properties leased to high credit quality tenants. Capital Lease invests in equity, long term fully amortizing and ten-year credit debt and mezzanine investments secured by mortgages or other collateral. Tenants include corporations, government agencies and nonprofit organizations. Capital Lease's current owned property portfolio exceeds 10,000,000 square feet. Capital Lease is an affiliate of one of the Mortgage Loan Sellers, the Master Servicer and one of the Underwriters. SEE "RISK FACTORS"--The Offered Certificates--Potential Conflicts of Interest in the Prospectus Supplement. o THE PROPERTIES. The Mortgaged Properties consist of three industrial-distribution centers comprised of approximately 2,560,351 square feet located in Pennsylvania, California and Indiana. As of April 2007 and June 2007, the occupancy rate for the Mortgaged Properties securing the Nestle 94 Pool Loan was approximately 100.0%. The sole tenant of the 555 Nestle Way Mortgaged Property is Nestle Food Company, occupying approximately 1,045,153 square feet, or the entire net rentable area. The Nestle Food Company is a subsidiary of Nestle S.A., a leading food company in terms of sales. As of October 10, 2007, the Nestle Food Company was rated "AA+" (Fitch), "Aa1" (Moody's) and "AA" (S&P). The Nestle Food Company lease expires in December 2012. The 2909 Pleasant Center Road Mortgaged Property is leased to the Nestle Food Company, which has subleased its space to General Mills, occupying approximately 764,177 square feet, or the entire net rentable area. As of October 10, 2007, General Mills was rated "BBB+" (Fitch), "Baa1" (Moody's) and "BBB+" (S&P). The General Mills sublease expires in December 2012. The Nestle Distribution Facility Mortgaged Property is leased to the Nestle Food Company, which has subleased its space to Del Monte Corp. ("Del Monte") occupying approximately 751,021 square feet, or the entire net rentable area. Del Monte spent approximately $2 million on can labeling equipment at the Nestle Distribution Facility and fully utilizes the space for can labeling, storage and distribution. As of October 10, 2007, Del Monte was rated "BB" (Fitch) and "BB-" (S&P). The Del Monte Corp. sublease expires in December 2012. o RELEASE. The release of an individual Mortgaged Property will be permitted subject to the following conditions including, but not limited to: (i) payment of a release premium of 120% of the allocated loan amount, (ii) if such release payment occurs on or before the date that is four years and 10 months after the date of the note, payment in an amount equal to the greater of (A) 1.0% of the principal amount being prepaid and (B) the present value of a series of payments each equal to the Payment Differential (as defined in the related Mortgage Loan Documents) and payable on each Payment Date (as defined in the related Mortgage Loan Documents) over the remaining original term of the note and on the maturity date, discounted at the This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 33 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- NESTLE 94 POOL - -------------------------------------------------------------------------------- Reinvestment Yield (as defined in the related Mortgage Loan Documents) for the number of months remaining as of the date of such prepayment to each such Payment Date and the maturity date based on the principal amount being prepaid and (v) the remaining Mortgage Properties will: (A) be occupied by tenants or tenants with creditworthiness acceptable to the Lender pursuant to lease agreements with term or terms extending through at least August 11, 2018, (B) have an LTV ratio lower than 59% and (C) have a DSC ratio higher than 1.55x (on an interest only basis). o LOCKBOX ACCOUNT. All tenant payments due under the applicable tenant leases are deposited into a mortgagee-designated lockbox account. o MANAGEMENT. The properties are self-managed by Capital Lease, the sponsor. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 34 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- SHERATON PARK HOTEL - ANAHEIM, CA - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 35 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- SHERATON PARK HOTEL - ANAHEIM, CA - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 36 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- SHERATON PARK HOTEL - ANAHEIM, CA - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $65,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 4.4% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR LT Hospitality Corporation TYPE OF SECURITY Leasehold MORTGAGE RATE 6.300% MATURITY DATE June 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 115 / IO LOCKBOX None UP-FRONT RESERVES TAX/INSURANCE Yes ONGOING ANNUAL RESERVES TAX/INSURANCE Yes FF&E(1) Yes ADDITIONAL FINANCING(2)(3) None CUT-OFF DATE BALANCE $65,000,000 CUT-OFF DATE BALANCE/ROOM $132,653 CUT-OFF DATE LTV 73.5% MATURITY DATE LTV 73.5% UW DSCR ON NCF 1.38x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Anaheim, CA PROPERTY TYPE Hospitality - Full Service SIZE (ROOMS) 490 OCCUPANCY AS OF AUGUST 31, 2007(4) 76.8% YEAR BUILT/YEAR RENOVATED 1971 / 2005 APPRAISED VALUE $88,400,000 PROPERTY MANAGEMENT Northwest Hospitality Group, L.L.C. UW ECONOMIC OCCUPANCY 73.6% UW REVENUES $25,450,850 UW TOTAL EXPENSES $19,053,613 UW NET OPERATING INCOME (NOI) $6,397,236 UW NET CASH FLOW (NCF) $5,633,711 - -------------------------------------------------------------------------------- (1) Ongoing annual deposits to the FF&E are 3.0% of the prior year's gross revenue, payable monthly. (2) Future mezzanine debt is permitted subject to certain conditions including, but not limited to: (i) upon the occurrence of any assumption or in connection with the property improvement plan, (ii) an aggregate DSC ratio of no less than 1.20x, (iii) the aggregate LTV ratio not to exceed 80.0% and (iv) certain other conditions as specified in the related Mortgage Loan documents. (3) Future unsecured debt is permitted subject to certain conditions including, but not limited to: (i) trade payables not to exceed 6% of original loan amount and (ii) certain other conditions as specified in the related Mortgage Loan documents. (4) Based on trailing 6-month period ending August 31, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 37 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- SHERATON PARK HOTEL - ANAHEIM, CA - -------------------------------------------------------------------------------- FINANCIAL PERFORMANCE SUMMARY ESTIMATED 2005(1) TRAILING 12-MONTH AUGUST 2007(2) ---------------------------- -------------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - --------------------------------------------------------------------------------------------- Sheraton - Anaheim, CA .... 71.1% $85.93 $61.11 68.4% $131.42 $89.89 TRAILING 6-MONTH AUGUST 2007 UNDERWRITTEN ----------------------------- ----------------------------- PROPERTY NAME OCCUPANCY ADR REV PAR OCCUPANCY ADR REV PAR - ------------------------------------------------------------------------------------------- Sheraton - Anaheim, CA .... 76.8% $133.40 $102.49 73.6% $132.07 $97.20 (1) Based on HVS International Appraisal dated May 9, 2007. (2) Based on Smith Travel Research report dated September 21, 2007. COMPETITIVE SUMMARY TRAILING 12 MONTHS - AUGUST 2007* ----------------------------------------------------------------- NUMBER OF OCCUPANCY ADR REVPAR PROPERTY ROOMS OCCUPANCY ADR REVPAR PENETRATION PENETRATION PENETRATION - ----------------------------------------------------------------------------------------------------------------------------- Sheraton Park Hotel - Anaheim, CA (subject).... 490 68.4% $131.42 $89.89 97.0% 103.1% 99.9% Competitive Set................................ 4,122 70.8% $127.03 $89.96 100.4% 99.6% 100.0% ----- TOTAL/WEIGHTED AVERAGE......................... 4,612 70.5% $127.50 $89.95 100.0% 100.0% 100.0% ===== * Based on Smith Travel Research report dated September 21, 2007. FACILITY SUMMARY GUEST ROOMS NUMBER - -------------------------------------------------------------------------------- King ............................................................. 97 Double / Queen ................................................... 387 One Bedroom Suite ................................................ 6 --- TOTAL.......................................................... 490 === FOOD AND BEVERAGE SEATING - -------------------------------------------------------------------------------- Morton's Steakhouse .............................................. N/A Overland Stage Restaurant ........................................ 230 Lobby Lounge / Bar ............................................... 65 Molly's Kitchen .................................................. 148 Pool Bar ......................................................... 150 --- TOTAL.......................................................... 593 === MEETING AND BANQUET SPACE SQUARE FEET - -------------------------------------------------------------------------------- El Prada Foyer ................................................... 2,500 Park Plaza Ballroom .............................................. 11,035 Garden Room ...................................................... 1,861 Palm Ballroom .................................................... 3,707 Tiffany Terrace .................................................. 2,142 Tiffany Patio .................................................... 5,100 ------ TOTAL.......................................................... 26,345 ====== AMENITIES - -------------------------------------------------------------------------------- Outdoor Pool and Whirlpool Exercise Room Business Center This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 38 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- SHERATON PARK HOTEL - ANAHEIM, CA - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Sheraton Park Hotel - Anaheim, CA Loan") is secured by a first leasehold mortgage encumbering a full-service hotel located in Anaheim, California. The Sheraton Park Hotel - Anaheim, CA Loan represents approximately 4.4% of the Cut-Off Date Pool Balance. The Sheraton Park Hotel - Anaheim, CA Loan was originated on May 31, 2007, and has a principal balance as of the Cut-Off Date of $65,000,000. The Sheraton Park Hotel - Anaheim, CA Loan provides for interest-only payments for the entire loan term. The Sheraton Park Hotel - Anaheim, CA Loan has a remaining term of 115 months and matures on June 11, 2017. The Sheraton Park Hotel - Anaheim, CA 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 BORROWER. The borrower is Anaheim Hotel, LLC, a special purpose entity. The sponsor of the borrower is LT Hospitality Corporation. The principals for the LT Hospitality Corporation, Jeffrey L. Eberle, Robert J. Suits, and General William Lyon, have over 90 years combined experience in the development, renovation, and repositioning of hotel assets. o THE PROPERTY. The Mortgaged Property is an approximately 490 room full-service hotel consisting of four buildings, improved on approximately 10.8 acres. The Mortgaged Property, constructed in 1971 and most recently renovated in 2005, is located in the resort district of Anaheim, California adjacent to the Anaheim Convention Center and walking distance to Disneyland. The four buildings include the 13-story Tower, Morton's Steakhouse, the Podium and the Tiffany Terrace. The Tower building houses all guest rooms while the Podium building houses the guest registration center, hotel restaurant, banquet facilities, coffee shop, gift shop, bar area and sales/catering offices. The Sheraton Park Hotel - Anaheim, CA provides guests with access to onsite amenities such as a swimming pool, a spa, an exercise room, a guest laundry room, a sundry shop, a business center and approximately 26,345 square feet of meeting space. As of the trailing six months ending August 31, 2007, the occupancy rate for the Sheraton Park Hotel - Anaheim, CA was approximately 76.8%. o LOCKBOX ACCOUNT. The related Mortgage Loan documents do not require a lockbox account. o PROPERTY MANAGEMENT. The Mortgaged Property is managed by Northwest Hospitality Group, L.L.C. ("NHG"), an affiliate of the sponsor. NHG has over 75 years of hotel management experience among the executive staff. In the past ten years, Western Hotel Properties has owned, and NHG has managed, renovated and/or repositioned approximately 2,412 rooms. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 39 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 40 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- INTEGRATED HEALTH CAMPUS - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 41 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- INTEGRATED HEALTH CAMPUS - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 42 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- INTEGRATED HEALTH CAMPUS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $62,200,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 4.2% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Clay Hamlin TYPE OF SECURITY Fee MORTGAGE RATE 5.790% MATURITY DATE August 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 117 / 360 LOCKBOX None UP-FRONT RESERVES TAX/INSURANCE Yes OCCUPANCY* $11,000,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT $30,220 ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $62,200,000 CUT-OFF DATE BALANCE/SF $206 CUT-OFF DATE LTV 75.7% MATURITY DATE LTV 70.6% UW DSCR ON NCF 1.11x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION South Whitehall & Upper Macungie Townships, PA PROPERTY TYPE Office - Medical SIZE (SF) 302,200 OCCUPANCY AS OF JUNE 28, 2007 80.9% YEAR BUILT/YEAR RENOVATED 2006 / NA APPRAISED VALUE $82,200,000 PROPERTY MANAGEMENT Summit Management and Realty Company UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $7,307,230 UW TOTAL EXPENSES $2,363,215 UW NET OPERATING INCOME (NOI) $4,944,015 UW NET CASH FLOW (NCF) $4,835,654 - -------------------------------------------------------------------------------- * As vacant space at the Mortgaged Property is occupied by new tenants, funds are proportionately disbursed from the occupancy reserve according to a formula based on the expected cash flow to be generated by the relet space. Any funds remaining in the occupancy reserve 2 years after origination will be, at the mortgagee's discretion, either applied to reduce any amounts due under the Intergrated Health Campus Loan or held as additional collateral by the mortgagee. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 43 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- INTEGRATED HEALTH CAMPUS - -------------------------------------------------------------------------------- TENANT SUMMARY NET % OF NET % OF TOTAL RATINGS RENTABLE RENTABLE BASE ANNUAL ANNUAL BASE LEASE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF BASE RENT RENT EXPIRATION - ------------------------------------------------------------------------------------------------------------------------------------ MAJOR TENANTS Orthopaedic Associates of Allentown ... NR/NR/NR 156,474 51.8% $16.90 $2,644,411 62.1% June 2026 St. Luke's Hospital ................... NR/NR/NR 26,491 8.8 $18.13 480,306 11.3 Multiple Spaces* Surgery Center of Allentown ........... NR/NR/NR 25,654 8.5 $18.87 484,091 11.4 March 2027 Advanced Breast Care Imaging .......... NR/NR/NR 9,541 3.2 $18.96 180,897 4.3 July 2016 Aesthetic Surgery Associates .......... NR/NR/NR 8,924 3.0 $16.90 150,816 3.5 June 2026 ------- ----- ---------- ----- TOTAL MAJOR TENANTS ................ 227,084 75.1% $17.35 $3,940,521 92.6% NON-MAJOR TENANTS ..................... 17,333 5.7 $18.21 315,685 7.4 ------- ----- ---------- ----- OCCUPIED TOTAL ........................ 244,417 80.9% $17.41 $4,256,206 100.0% VACANT SPACE .......................... 57,783 19.1 ========== ===== ------- ----- PROPERTY TOTAL ........................ 302,200 100.0% ======= ===== * Under the terms of multiple leases, 7,707 square feet expire in November 2016, 18,784 square feet expire in June 2017. 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 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2010 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2011 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2012 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2013 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2014 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2015 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2016 4 $18.73 29,093 9.6% 9.6% 12.8% 12.8% 2017 3 $17.80 24,272 8.0% 17.7% 10.1% 23.0% Thereafter 3 $17.16 191,052 63.2% 80.9% 77.0% 100.0% Vacant 0 NA 57,783 19.1% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 44 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- INTEGRATED HEALTH CAMPUS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Integrated Health Campus Loan") is secured by a first mortgage encumbering a fee interest in an office building located in South Whitehall & Upper Macungie Townships, Pennsylvania. The Integrated Health Campus Loan represents approximately 4.2% of the Cut-Off Date Pool Balance. The Integrated Health Campus Loan was originated on July 26, 2007, and has a principal balance as of the Cut-Off Date of $62,200,000. The Integrated Health Campus Loan provides for interest-only payments for the first 60 months of its term, and thereafter, fixed monthly payments of principal and interest. The Integrated Health Campus Loan has a remaining term of 117 months and matures on August 11, 2017. The Integrated Health Campus Loan may be prepaid on or after June 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is Integrated Health Campus, L.P., a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the Integrated Health Campus Loan. The sponsor of the borrower is a partnership among (i) Orthopedic Associates of Allentown ("OAA"), which is also the largest tenant at the Mortgaged Property, (ii) Polaris Park, LP which is controlled by Jim Gentile, the developer of the Mortgaged Property, (iii) WhiteMac, LP, which is controlled by Clay Hamlin III, the founder and vice chairman of Corporate Office Properties Trust ("COPT") and (iv) Trio Management LLC, which is owned equally by Orthopedic Associates, Polaris Park, LP, and WhiteMac LP. COPT is a self-managed real estate investment trust that focuses on acquisition, development, ownership, management and leasing suburban office properties primarily in the Mid-Atlantic submarkets. COPT is a large owner of suburban properties in the Greater Washington, DC region and owns approximately 247 office properties totaling approximately 18.5 million square feet. OAA is a provider of orthopaedic care and has been in business for more than 30 years, providing treatment for conditions involving joint replacements, scoliosis and sports-related injuries. o THE PROPERTY. The Mortgaged Property is an approximately 302,200 square foot office building situated on approximately 21.2 acres. The Mortgaged Property was constructed in 2006. The Mortgaged Property is located in South Whitehall & Upper Macungie Townships, Pennsylvania. As of June 28, 2007, the occupancy rate for the Mortgaged Property securing the Integrated Health Campus Loan was approximately 80.9%. The largest tenant is Orthopaedic Associates of Allentown ("OAA"), currently occupying approximately 156,474 square feet, or approximately 51.8% of the net rentable area. OAA is a provider of orthopedic care and is also one of the sponsors of the ownership structure. OAA has been in business for more than 30 years and provides treatment for conditions involving joint replacements, scoliosis and sports-related injuries. The OAA lease expires in June 2026. The second largest tenant is St. Luke's Hospital ("SLH"), currently occupying approximately 26,491 square feet, or approximately 8.8% of the net rentable area. SLH's health care network includes four tertiary and acute care hospitals, as well as other operations including outpatient and urgent care facilities, rehabilitation and behavioral health centers and home health care services. Under the terms of multiple leases, approximately 7,707 square feet expire in November 2016 and 18,784 square feet expire in June 2017. The third largest tenant is Surgery Center of Allentown ("Surgery Center"), occupying approximately 25,654 square feet, or approximately 8.5% of the net rentable area. Surgery Center is an ambulatory surgical center that offers a variety of medical procedures. The Surgery Center lease expires in March 2027. o LOCKBOX ACCOUNT. The Mortgage Loan documents do not require a lockbox account. o MANAGEMENT. Summit Management and Realty Company ("Summit") is the property manager for the Mortgaged Property securing the Integrated Health Campus Loan. Summit is an Allentown, Pennsylvania based firm which has a property management portfolio of over four million square feet. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 45 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 46 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 2100 ROSS - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 47 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 2100 ROSS - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 48 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 2100 ROSS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $61,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 4.1% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR The Moinian Group TYPE OF SECURITY Fee MORTGAGE RATE 6.065% MATURITY DATE May 11, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 54 / IO LOCKBOX Yes UP-FRONT RESERVES TAX/INSURANCE Yes TI/LC $5,175,000 OUTSTANDING TI/LC OBLIGATIONS $2,309,724 DESIGNATED LEASE(1) $1,825,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT $169,873 TI/LC(2) Springing ADDITIONAL FINANCING B-Note $10,000,000 TRUST ASSET WHOLE MORTGAGE LOAN ----------- ------------------- CUT-OFF DATE BALANCE $61,000,000 $71,000,000 CUT-OFF DATE BALANCE/SF $ 72 $ 84 CUT-OFF DATE LTV 74.4% 86.6% MATURITY DATE LTV 74.4% 86.6% UW DSCR ON NCF 1.64x 1.41x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Dallas, TX PROPERTY TYPE Office - CBD SIZE (SF) 843,728 OCCUPANCY AS OF AUGUST 31, 2007 84.1% YEAR BUILT / YEAR RENOVATED 1982 / NA APPRAISED VALUE $82,000,000 PROPERTY MANAGEMENT CB Richard Ellis UW ECONOMIC OCCUPANCY 80.0% UW REVENUES $14,385,139 UW TOTAL EXPENSES $8,124,064 UW NET OPERATING INCOME (NOI) $6,261,075 UW NET CASH FLOW (NCF) $6,072,926 - -------------------------------------------------------------------------------- (1) In the event E&Y does not renew its lease, the Designated Lease Reserve will be used to retenant the space. Should E&Y renew its lease beyond the maturity date, the Designated Lease Reserve may be used for additional tenant improvements and leasing commission costs. (2) In the event the TI/LC Reserve balance is less than $1,000,000, the borrower will be required to make monthly deposits into the reserve until $2,000,000 is achieved. In addition, should Ernst & Young give notice 12 months prior to lease expiration of its intent to vacate, a cash flow sweep will be implemented. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 49 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 2100 ROSS - -------------------------------------------------------------------------------- TENANT SUMMARY NET % OF NET % OF TOTAL RATINGS* RENTABLE RENTABLE BASE ANNUAL ANNUAL BASE LEASE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF BASE RENT RENT EXPIRATION - ------------------------------------------------------------------------------------------------------------------------------- MAJOR TENANTS Ernst & Young, LLP .............. NR/NR/NR 244,810 29.0% $15.66 $ 3,834,830 32.8% July 2009 CB Richard Ellis Group Inc. ..... NR/NR/NR 87,573 10.4 $18.48 1,618,097 13.9 December 2010 Prudential ...................... A/A3/A+ 63,007 7.5 $15.18 956,446 8.2 February 2016 Clark Consulting, Inc. .......... NR/NR/NR 59,372 7.0 $17.00 1,009,324 8.6 August 2016 Merrill Lynch, Pierce, Fenner ... AA-/Aa3/AA- 47,262 5.6 $18.68 882,797 7.6 February 2012 ------- ----- ----------- ----- TOTAL MAJOR TENANTS ............. 502,024 59.5% $16.54 $ 8,301,494 71.1% NON-MAJOR TENANTS .................. 207,616 24.6 $16.27 3,377,362 28.9 ------- ----- ----------- ----- OCCUPIED TOTAL ..................... 709,640 84.1% $16.46 $11,678,856 100.0% VACANT SPACE ....................... 134,088 15.9 =========== ===== ------- ----- PROPERTY TOTAL ..................... 843,728 100.0% ======= ===== * 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 1 $17.00 8,254 1.0% 1.0% 1.2% 1.2% 2008 7 $17.26 17,737 2.1% 3.1% 2.6% 3.8% 2009 15 $15.68 251,243 29.8% 32.9% 33.7% 37.6% 2010 13 $18.30 109,221 12.9% 45.8% 17.1% 54.7% 2011 5 $12.51 21,035 2.5% 48.3% 2.3% 56.9% 2012 6 $18.64 48,238 5.7% 54.0% 7.7% 64.6% 2013 9 $17.17 50,756 6.0% 60.0% 7.5% 72.1% 2014 4 $16.21 19,175 2.3% 62.3% 2.7% 74.8% 2015 2 $16.00 21,585 2.6% 64.9% 3.0% 77.7% 2016 11 $15.97 139,075 16.5% 81.3% 19.0% 96.7% 2017 1 $17.00 18,743 2.2% 83.6% 2.7% 99.5% Thereafter 4 $13.96 4,578 0.5% 84.1% 0.5% 100.0% Vacant 0 NA 134,088 15.9% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 50 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 2100 ROSS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "2100 Ross Loan") is secured by a first deed of trust encumbering a fee interest in an office building located in Dallas, Texas. The 2100 Ross Loan represents approximately 4.1% of the Cut-Off Date Pool Balance. The 2100 Ross Loan was originated on April 17, 2007, and has a principal balance as of the Cut-Off Date of $61,000,000. The 2100 Ross Loan, dated April 17, 2007, is a portion of a whole loan with an original principal balance of $71,000,000. The other loan related to the 2100 Ross Loan is evidenced by a separate subordinate note, dated April 17, 2007 (the "2100 Ross Subordinate Companion Loan" with an original principal balance of $10,000,000 and, together with 2100 Ross Loan, comprise the "2100 Ross Whole Loan"). The 2100 Ross Subordinate Companion Loan will not be an asset of the Trust Fund. The 2100 Ross Loan and the 2100 Ross 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 2100 Ross Loan provides for interest-only payments for the entire loan term. The 2100 Ross Loan has a remaining term of 54 months and matures on May 11, 2012. The 2100 Ross 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 2100 Ross Realty LP, a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the 2100 Ross 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 an approximately 843,728 square foot office building situated on approximately 1.4 acres. The Mortgaged Property was constructed in 1982. The Mortgaged Property is located in Dallas, Texas. As of August 31, 2007, the occupancy rate for the Mortgaged Property securing the 2100 Ross Loan was approximately 84.1%. The largest tenant is Ernst & Young, LLP ("E&Y"), currently occupying approximately 244,810 square feet, or approximately 29.0% of the net rentable area. E&Y is one of the "Big Four" accounting and consulting firms and is one of the largest private companies in the United States. The E&Y lease expires in July 2009. The second largest tenant is CB Richard Ellis Group Inc. ("CBRE"), currently occupying approximately 87,573 square feet, or approximately 10.4% of the net rentable area. CBRE is a leading diversified real estate management company in the United States, overseeing approximately 550 million square feet of warehouse, service center and retail space. The CBRE lease expires in December 2010. The third largest tenant is Prudential ("Prudential"), occupying approximately 63,007 square feet, or approximately 7.5% of the net rentable area. Prudential is one of the largest life insurance companies in the United States and offers a variety of products and services including mutual funds, annuities, real estate brokerage franchises and relocation services. Prudential serves individual and institutional customers worldwide. As of September 14, 2007, Prudential was rated "A" (Fitch), "A3" (Moody's) and "A+" (S&P). The Prudential lease expires in February 2016. o LOCKBOX ACCOUNT. All tenant payments due under the applicable leases are deposited into a mortgagee-designated lockbox account. o MANAGEMENT. CB Richard Ellis ("CBRE") is the property manager for the Mortgaged Property securing the 2100 Ross Loan. CBRE is a leading diversified real estate management company in the United States, overseeing approximately 550 million square feet of warehouse, service center and retail space. CBRE has full-service operations in metropolitan areas worldwide. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 51 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 52 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 53 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 54 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $46,633,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 3.2% NUMBER OF MORTGAGE LOANS 14 LOAN PURPOSE Acquisition SPONSOR Cole Credit Property Trust II, Inc. TYPE OF SECURITY Fee SUBSTITUTION(1) Yes MORTGAGE RATE(2) Various MATURITY DATE Various AMORTIZATION TYPE Interest-Only ARD INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM(3) / AMORTIZATION Various / IO LOCKBOX(4) Springing UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX/INSURANCE(5) Springing ADDITIONAL FINANCING(6) None CUT-OFF DATE BALANCE $46,633,000 CUT-OFF DATE BALANCE/SF $91 CUT-OFF DATE LTV 66.2% MATURITY DATE LTV 66.2% UW DSCR ON NCF 1.75x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 14 LOCATION Various PROPERTY TYPE Retail - Single Tenant(7) SIZE (SF) 511,749 OCCUPANCY AS OF VARIOUS DATES 100.0% YEAR BUILT / YEAR RENOVATED Various / Various APPRAISED VALUE $70,400,000 PROPERTY MANAGEMENT Cole Realty Advisors, Inc. and Fund Realty Advisors, Inc. UW ECONOMIC OCCUPANCY 96.8% UW REVENUES $5,717,746 UW TOTAL EXPENSES $862,292 UW NET OPERATING INCOME (NOI) $4,855,454 UW NET CASH FLOW (NCF) $4,657,581 - -------------------------------------------------------------------------------- (1) The Cole REIT Portfolio Loans allow for substitution of individual Mortgaged Properties under certain circumstances. See "Substitution" below. (2) The weighted average rate for the 14 Mortgage Loans that comprise the Cole REIT Portfolio is 5.704% per annum. (3) The weighted average remaining term for the 14 Mortgage Loans that comprise the Cole REIT Portfolio is 114 months. (4) A lockbox will be required on or before the optional prepayment determination date. (5) Required upon event of default or certain other conditions as specified in Mortgage Loan documents. (6) Future mezzanine debt is permitted under each of the 14 Mortgage Loans, subject to: (i) aggregate maximum LTV ratio of 70.0% (or, with respect to the Walgreens - Shreveport, LA Mortgaged Property, an aggregate maximum LTV ratio of 75.0%), (ii) a minimum DSC Ratio of 1.50x, (iii) the term of the mezzanine debt shall be co-terminus with or longer than the term of the A-Note and (iv) certain other conditions as described in the related Mortgage Loan documents. (7) All the Mortgaged Properties are single tenant retail properties except Apria Healthcare - Saint Louis, MO Mortgaged Property, which is an industrial flex property. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 55 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO SUMMARY NET CUT-OFF DATE YEAR BUILT/ RENTABLE PROPERTY NAME PROPERTY TYPE BALANCE RENOVATED AREA (SF) - ------------------------------------------------------------------------------------------------------------- Sam's Club - Anderson, SC ................ Retail - Single Tenant $ 8,160,000 1993 / NA 134,664 Apria Healthcare - Saint Louis, MO ....... Industrial - Flex 4,420,000 1996 / 2007 52,200 Borders - Rapid City, SD ................. Retail - Single Tenant 4,393,000 1999 / NA 20,000 Borders - Reading, PA .................... Retail - Single Tenant 4,257,000 1997 / NA 25,023 Rite Aid - Easton, PA .................... Retail - Single Tenant 4,060,000 2005 / NA 13,813 Ashley Furniture - Amarillo, TX .......... Retail - Single Tenant 4,026,000 1980 / 2005 74,797 Walgreens - Cincinnati, OH ............... Retail - Single Tenant 3,043,000 1998 / NA 13,905 Walgreens - Shreveport, LA ............... Retail - Single Tenant 2,815,000 1998 / NA 13,905 Walgreens - Gainesville, FL .............. Retail - Single Tenant 2,465,000 1997 / NA 13,905 Tractor Supply Company - Baytown, TX ..... Retail - Single Tenant 2,251,000 2007 / NA 22,670 Tractor Supply Company - Navasota, TX .... Retail - Single Tenant 2,050,000 2006 / NA 22,670 Wal-Mart - New London, WI ................ Retail - Single Tenant 1,778,000 1991 / NA 51,985 Rite Aid - Lincolnton, NC ................ Retail - Single Tenant 1,538,000 1998 / NA 10,908 Wal-Mart - Spencer, IN ................... Retail - Single Tenant 1,377,000 1987 / NA 41,304 ----------- ------- TOTAL/AVERAGE ............................ $46,633,000 511,749 =========== ======= UNDERWRITTEN CUT-OFF DATE APPRAISED APPRAISED UNDERWRITTEN NET CASH PROPERTY NAME BALANCE PSF VALUE VALUE PSF OCCUPANCY OCCUPANCY FLOW - ----------------------------------------------------------------------------------------------------------------------------- Sam's Club - Anderson, SC ................ $ 61 $12,000,000 $ 89 100.0% 100.0% $ 731,862 Apria Healthcare - Saint Louis, MO ....... $ 85 6,500,000 $125 100.0% 90.0% 408,797 Borders - Rapid City, SD ................. $220 6,470,000 $324 100.0% 100.0% 448,755 Borders - Reading, PA .................... $170 6,400,000 $256 100.0% 100.0% 444,129 Rite Aid - Easton, PA .................... $294 6,100,000 $442 100.0% 95.0% 414,569 Ashley Furniture - Amarillo, TX .......... $ 54 6,050,000 $ 81 100.0% 90.0% 386,069 Walgreens - Cincinnati, OH ............... $219 4,450,000 $320 100.0% 100.0% 309,743 Walgreens - Shreveport, LA ............... $202 5,200,000 $374 100.0% 100.0% 325,609 Walgreens - Gainesville, FL .............. $177 3,850,000 $277 100.0% 100.0% 258,782 Tractor Supply Company - Baytown, TX ..... $ 99 3,355,000 $148 100.0% 95.0% 212,291 Tractor Supply Company - Navasota, TX .... $ 90 3,050,000 $135 100.0% 95.0% 195,289 Wal-Mart - New London, WI ................ $ 34 2,670,000 $ 51 100.0% 100.0% 174,807 Rite Aid - Lincolnton, NC ................ $141 2,265,000 $208 100.0% 95.0% 157,700 Wal-Mart - Spencer, IN ................... $ 33 2,040,000 $ 49 100.0% 100.0% 189,178 ----------- ---------- TOTAL/AVERAGE ............................ $ 91 $70,400,000 $138 100.0% 96.8% $4,657,581 =========== ========== COLE REIT PORTFOLIO TENANT SUMMARY # OF % OF NET ANNUAL % OF TENANT RATINGS(1) NET RENTABLE RENTABLE BASE BASE TOTAL ANNUAL TENANT SPACES FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF RENT BASE RENT LEASE EXPIRATION - ----------------------------------------------------------------------------------------------------------------------------------- Sam's Club ............. 1 AA/Aa2/AA 134,664 26.3% $ 6.02 $ 810,667 16.1% November 2013 Wal-Mart ............... 2 AA/Aa2/AA 93,289 18.2 $ 3.75 350,193 7.0 Multiple Spaces(2) Ashley Furniture ....... 1 NR/NR/NR 74,797 14.6 $ 6.20 463,741 9.2 November 2021 Apria Healthcare ....... 1 NR/NR/BB+ 52,200 10.2 $ 9.86 514,464 10.2 November 2013 Tractor Supply Company.. 2 NR/NR/NR 45,340 8.9 $ 9.94 450,640 9.0 Multiple Spaces(3) Borders ................ 2 NR/NR/NR 45,023 8.8 $20.37 917,318 18.3 Multiple Spaces(4) Walgreens .............. 3 NR/Aa3/A+ 41,715 8.2 $21.70 905,100 18.0 Multiple Spaces(5) Rite Aid ............... 2 CCC/Caa2/B 24,721 4.8 $24.75 611,914 12.2 Multiple Spaces(6) ------- ----- ---------- ----- TOTAL TENANTS ....... 511,749 100.0% $ 9.82 $5,024,037 100.0% OCCUPIED TOTAL ......... 511,749 100.0% $ 9.82 $5,024,037 100.0% ========== ===== VACANT SPACE ........... 0 0.0 ------- ----- PROPERTY TOTAL ......... 511,749 100.0% ======= ===== (1) Certain ratings are those of the parent whether or not the parent guarantees the lease. (2) Under the terms of multiple leases, 41,304 square feet expire in January 2013 at Wal-Mart - Spencer, IN Mortgaged Property and 51,985 square feet expire in January 2017 at Wal-Mart - New London, WI Mortgaged Property. (3) Under the terms of multiple leases, 22,670 square feet expire in September 2021 at Tractor Supply Company - Navasota, TX Mortgaged Property and 22,670 square feet expire in May 2022 at Tractor Supply Company - Baytown, TX Mortgaged Property. (4) Under the terms of multiple leases, 20,000 square feet expire in March 2016 at Borders - Rapid City, SD Mortgaged Property and 25,023 square feet expire in January 2019 at Borders - Reading, PA Mortgaged Property. (5) Under the terms of multiple leases, 13,905 square feet expire in July 2057 at Walgreens - Gainesville, FL Mortgaged Property, 13,905 square feet expire in February 2059 at Walgreens - Cincinnati, OH Mortgaged Property and 13,905 square feet expire in September 2059 at Walgreens - Shreveport, LA Mortgaged Property. (6) Under the terms of multiple leases, 10,908 square feet expire in April 2018 at Rite Aid - Lincolnton, NC Mortgaged Property and 13,813 square feet expire in February 2026 at Rite Aid - Easton, PA Mortgaged Property. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 56 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO 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 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2010 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2011 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2012 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2013 3 $ 6.45 228,168 44.6% 44.6% 29.3% 29.3% 2014 0 $ 0.00 0 0.0% 44.6% 0.0% 29.3% 2015 0 $ 0.00 0 0.0% 44.6% 0.0% 29.3% 2016 1 $23.30 20,000 3.9% 48.5% 9.3% 38.6% 2017 1 $ 3.90 51,985 10.2% 58.7% 4.0% 42.6% Thereafter 9 $13.62 211,596 41.3% 100.0% 57.4% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 57 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE REIT PORTFOLIO - -------------------------------------------------------------------------------- o THE LOAN. The fourteen Mortgage Loans (the "Cole REIT Portfolio Loans") are secured by first mortgages or deeds or trust encumbering thirteen single tenant retail properties and one single tenant industrial property, comprised in the aggregate of approximately 511,749 square feet in various locations across the United States. The Cole REIT Portfolio Loans represent approximately 3.2% of the Cut-Off Date Pool Balance. The Cole REIT Portfolio Loans were originated on various dates between March 2007 and June 2007 and have an aggregate principal balance as of the Cut-Off Date of $46,633,000. The Cole REIT Portfolio Loans provide for interest-only payments for their entire terms. The Cole REIT Portfolio Loans have remaining terms which vary from 113-116 months and mature on various dates between April 2017 and July 2017. The Cole REIT Portfolio Loans may be prepaid on or after various dates in each case the final 4 payment dates inclusive of the maturity date of the related Cole REIT Portfolio Loan, and permit defeasance with United States government obligations no earlier than 2 years after the Closing Date with respect to 6 of the Cole REIT Portfolio Loans and 4 years after the first payment date with respect to the remainder of the Cole REIT Portfolio Loans. o THE BORROWERS. The borrowers consist of 14 special purpose entities. The sponsor of the borrowers is Cole Credit Property Trust II, Inc. ("Cole Credit."). Cole Credit is a leading real estate investment management firm that focuses on the acquisition of freestanding, single-tenant properties leased to high-quality tenants in a variety of retail businesses. Cole Credit, founded in 1979 by Christopher Cole, has owned real estate with a combined acquisition and development cost of approximately one-half billion dollars. o THE PROPERTIES. The Mortgaged Properties consist of thirteen retail properties and one industrial property, comprised in the aggregate of approximately 511,749 square feet in various locations across the United States. The occupancy rate of the Mortgaged Properties securing the Cole REIT Portfolio Loans was approximately 100.0% (see Annex A-1 to the Prospectus Supplement for occupancy as-of dates). o SUBSTITUTION. The borrower may substitute Mortgaged Properties subject to satisfaction of certain tests and conditions as set forth in the related Mortgage Loan documents including, but not limited to (i) certain minimum DSC ratio tests, (ii) certain maximum LTV ratio requirements, (iii) certain replacement tenant credit rating requirements and minimum lease agreement terms and (iv) other conditions as specified in the related Mortgage Loan documents. o LOCKBOX ACCOUNT. On or before the optional prepayment determination date under the Mortgage Loan documents, all revenue will be deposited into a mortgagee-designated lockbox. o MANAGEMENT. Cole Realty Advisors, Inc. and Fund Realty Advisors, Inc., affiliates of the sponsor, are the property managers for the Mortgaged Properties securing the Cole REIT Portfolio Loans. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 58 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MALLARD GLEN APARTMENTS - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 59 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MALLARD GLEN APARTMENTS - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 60 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MALLARD GLEN APARTMENTS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $37,440,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Mark L. Maynard and Anna U. Maynard TYPE OF SECURITY Fee MORTGAGE RATE 5.830% MATURITY DATE August 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 24 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 117 / 360 LOCKBOX None UP-FRONT RESERVES TAX Yes DEBT SERVICE GUARANTY* $3,500,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes/Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $37,440,000 CUT-OFF DATE BALANCE/UNIT $81,391 CUT-OFF DATE LTV 80.0% MATURITY DATE LTV 70.6% UW DSCR ON NCF 1.10x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Charlotte, NC PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 460 OCCUPANCY AS OF AUGUST 8, 2007 94.8% YEAR BUILT / YEAR RENOVATED 2006 / NA APPRAISED VALUE $46,800,000 PROPERTY MANAGEMENT Tribute Properties, Inc. UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $4,184,780 UW TOTAL EXPENSES $1,205,932 UW NET OPERATING INCOME (NOI) $2,978,848 UW NET CASH FLOW (NCF) $2,897,888 - -------------------------------------------------------------------------------- * Mark L. Maynard and Anna U. Maynard provided a $3,500,000 guaranty at closing which may be released upon the achievement of a DSC ratio of 1.20x, as further described in the related Mortgage Loan documents. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 61 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MALLARD GLEN APARTMENTS - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - -------------------------------------------------------------------------------------------------------- 1 BR / 1 BA 146 572 83,496 21.1% $659 2 BR / 2 BA 230 895 205,912 52.1 $732 3 BR / 3 BA 84 1,259 105,756 26.8 $1,199 --- ------- ----- TOTAL / WEIGHTED AVERAGE 460 859 395,164 100.0% $794 / $0.92 / SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 62 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- MALLARD GLEN APARTMENTS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Mallard Glen Apartments Loan") is secured by a first deed of trust encumbering approximately 460-unit multifamily complex located in Charlotte, North Carolina. The Mallard Glen Apartments Loan represents approximately 2.5% of the Cut-Off Date Pool Balance. The Mallard Glen Apartments Loan was originated on July 18, 2007, and has a principal balance as of the Cut-Off Date of $37,440,000. The Mallard Glen Apartments Loan provides for interest-only payments for the first 24 months of its term, and, thereafter, fixed monthly payments of principal and interest. The Mallard Glen Apartments Loan has a remaining term of 117 months and matures on August 11, 2017. The Mallard Glen Apartments Loan may be prepaid on or after June 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is Mallard Glen Apartments, LLC, a special purpose entity. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the Mallard Glen Apartments Loan. The sponsors of the borrower are Mark L. Maynard and Anna U. Maynard. Mr. Maynard is the owner and president of Biltmark Corporation, Biltmark Builders, Inc. and Tribute Properties. Mr. Maynard has a controlling interest in multifamily properties valued at approximately $270 million located in North and South Carolina. o THE PROPERTY. The Mortgaged Property is approximately 460-unit complex that consists of garden-style units in a total of 19 three-story buildings situated on approximately 36.2 acres. The Mortgaged Property was constructed in 2006. The Mortgaged Property is located in Charlotte, North Carolina. The amenities at the Mortgaged Property include a fitness center, leasing center, two swimming pools, a clubhouse and a laundry facility. As of August 8, 2007, the occupancy rate for the Mortgaged Property securing the Mallard Glen Apartments Loan was approximately 94.8%. o LOCKBOX ACCOUNT. The related Mortgage Loan documents do not require a lockbox account. o PROPERTY MANAGEMENT. Tribute Properties, Inc., an affiliate of the sponsors, is the property manager for the Mortgaged Property securing the Mallard Glen Apartments Loan. Tribute Properties, Inc. currently manages approximately 4,130 units and employs approximately 40 full time on-site property managers. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 63 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 64 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 65 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 66 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE $32,800,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.2% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSORS Sherwin Jarol and S. Jack Williams, Jr. TYPE OF SECURITY Fee PARTIAL RELEASE N MORTGAGE RATE 5.8800% MATURITY DATE February 1, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 48 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 111 / 360 LOCKBOX Yes UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX/INSURANCE* Springing ADDITIONAL FINANCING B-Note $ 4,000,000 TRUST ASSET WHOLE MORTGAGE LOAN ----------- ------------------- CUT-OFF DATE BALANCE $32,800,000 $36,800,000 CUT-OFF DATE BALANCE/UNIT $ 66 $ 74 CUT-OFF DATE LTV 66.9% 75.1% MATURITY DATE LTV 61.5% 69.0% UW DSCR ON NCF 1.35x 1.20x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Lubbock, TX PROPERTY TYPE Industrial - Warehouse SIZE (SF) 494,142 OCCUPANCY AS OF OCTOBER 1, 2007 100.0% YEAR BUILT / YEAR RENOVATED 2000 / NA APPRAISED VALUE $49,000,000 PROPERTY MANAGEMENT Naples Realty Advisors, LLC UW ECONOMIC OCCUPANCY 97.0% UW REVENUES $3,470,055 UW TOTAL EXPENSES $179,099 UW NET OPERATING INCOME (NOI) $3,290,957 UW NET CASH FLOW (NCF) $3,134,966 - -------------------------------------------------------------------------------- * Monthly tax and insurance reserves will be waived so long as the current tenant (or a permitted successor) is required to pay the real estate taxes and insurance premiums directly pursuant to its lease and provides evidence to the mortgagee of such payment. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 67 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- TENANT SUMMARY % OF NET BASE ANNUAL LEASE TENANT NET RENTABLE AREA RENTABLE AREA RENT PSF BASE RENT EXPIRATION DATE - -------------------------------------------------------------------------------------------------------- Llano Logistics 494,142 100% $6.99 $3,452,955 June 2020 ------- --- ----- ---------- --------- TOTAL/WEIGHTED AVERAGE 494,142 100% $6.99 $3,452,955 JUNE 2020 ======= === ===== ========== ========= This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 68 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Llano Logistics Loan") is secured by a first mortgage encumbering a single-tenant warehouse and distribution building located in Lubbock, Texas. The Llano Logistics Loan represents approximately 2.2% of the Cut-Off Date Pool Balance. The Llano Logistics Loan was originated on January 4, 2007, and has a principal balance as of the Cut-Off Date of $32,800,000. The Llano Logistics Loan, which is evidenced by a note dated January 4, 2007, is a portion of a whole loan with an original principal balance of $36,800,000. The other loan related to the Llano Logistics Loan is evidenced by a separate subordinate note, dated January 4, 2007 (the "Llano Logistics Subordinate Companion Loan" and, together with the Llano Logistics Loan, the "Llano Logistics Whole Loan"), with an original principal balance of $4,000,000. The Llano Logistics Subordinate Companion Loan will not be an asset of the Trust Fund. The Llano Logistics Loan and the Llano Logistics 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 Llano Logistics Loan provides for interest-only payments for the first 48 months of its term, and, thereafter, fixed monthly payments of principal and interest. The Llano Logistics Loan has a remaining term of 111 months and matures on February 1, 2017. The Llano Logistics Loan may be prepaid on or after January 1, 2017, and permits defeasance with United States government obligations beginning two years after the Closing Date. o THE BORROWER. The borrowers consist of five special purpose entities: Naples Lubbock Venture, LLC; Santee Holding, LLC; Edgerton Holding, LLC; Kirk Holding, LLC; and 5471 Holding, LLC. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of the Llano Logistics Loan. The borrowers own an undivided interest in the Mortgaged Property as tenants-in-common. The sponsors of the borrowers are S. Jack Williams Jr. and Sherwin Jarol. S. Jack Williams Jr. is also the non-recourse carveout guarantor. S. Jack Williams Jr. and William Bradley are the Co-Chairmen of National Equity Trust, LLC. S. Jack Williams Jr. has co-ventured with Sherwin Jarol since the late 1990's on acquisitions and dispositions of commercial real estate in excess of $900,000,000. Sherwin Jarol is the managing general partner of Bradley Associates. Bradley Associates was formed in April 1989 and has acquired more than 90 properties representing 14 million square feet of industrial, office and retail space throughout the U.S. with market values exceeding $1 billion. o THE PROPERTY. The Mortgaged Property is an approximately 494,142 square foot single-tenant warehouse and distribution building situated on approximately 98.6 acres. The Mortgaged Property is located at 5801 Martin Luther King Boulevard, Lubbock, Lubbock County, Texas. The Mortgaged Property was constructed in 2000 and includes approximately 256,050 square feet of dry storage, approximately 209,060 square feet of food grade cold storage, and approximately 29,032 square feet of office space. The warehouse has a 36 foot clear ceiling height with 61 dock high doors. The Mortgaged Property is 100% leased to Llano Logistics, Inc. ("Llano") under a non-cancellable, absolute net lease which expires on June 30, 2020, with three 5-year renewal options. Llano is a subsidiary of Deutsche Post World Net AG ("DPWN"). DPWN is rated "A" (Fitch), "A2" (Moody's) and "A-" (S&P). DPWN employs more than 520,000 people in more than 220 countries on five continents. Through its logistics brands, DHL, Deutsche Post and Postbank, DPWN offers an extensive portfolio of integrated services for the management and transportation of goods, information and payments worldwide. DPWN is not a party to the Llano lease nor does it guaranty the Llano lease. The facility is currently used by Llano as the primary distribution center for its client, United Supermarkets, Inc. ("United"). United is a Lubbock-based, family-owned owner and operator of full-service supermarkets, with 46 stores in 26 cities throughout north and west Texas, including 9 stores located in the Lubbock market. The company was founded in 1916 and has approximately 9,000 employees. United stores are operated under three distinct formats: United Supermarkets, Market Street by United, and Super Mercado United. Approximately 1 million customers shop at United stores every week. For its fiscal year ended January 27, 2007, the company reported sales of more than $1.119 billion. United guarantees Llano's obligations under its lease with the borrower. o LOCKBOX ACCOUNT. All tenant payments due under the applicable lease are deposited into a mortgagee-designated lockbox account. The Llano Logistics Loan is structured with a cashflow sweep in the event of certain triggers, including, but not limited to: (i) the occurrence of a monetary default under the Mortgage Loan, (ii) the occurrence of a default under the Llano lease, (iii) Llano has ceased to operate its business at the Mortgaged Property other than as a result of a casualty or condemnation, (iv) the commencement of a voluntary or involuntary bankruptcy or other insolvency proceeding against United, or (v) United This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 69 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- LLANO LOGISTICS - -------------------------------------------------------------------------------- fails to maintain at least $25 million net worth and its EBITDA falls below $10 million based on its annual audited financial statements. The cashflow sweep will be suspended upon the conditions specified in related Mortgage Loan documents. As of January 27, 2007, United has total partners' equity of approximately $84.533 million and EBIDTA of approximately $32.457 million. The related Mortgage Loan documents also provide for a springing partial cash flow sweep of $0.40 per square foot (or $197,657.00 per annum) for so long as the net worth of United falls below $40 million. o PROPERTY MANAGEMENT. The property is managed by Naples Realty Advisors, LLC, which is 50% owned by S. Jack Williams Jr. and 50% owned by William Bradley. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 70 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- KEDRON VILLAGE - PHASE II - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 71 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- KEDRON VILLAGE - PHASE II - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 72 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- KEDRON VILLAGE - PHASE II - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $29,700,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.0% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Kite Realty Group, L.P. TYPE OF SECURITY Fee MORTGAGE RATE 5.700% MATURITY DATE January 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 110 / 360 LOCKBOX None UP-FRONT RESERVES TAX/INSURANCE Yes ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT $15,735 ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $29,700,000 CUT-OFF DATE BALANCE/SF $189 CUT-OFF DATE LTV 79.8% MATURITY DATE LTV 74.4% UW DSCR ON NCF 1.16x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Peachtree City, GA PROPERTY TYPE Retail - Anchored SIZE (SF) 157,409 OCCUPANCY AS OF SEPTEMBER 1, 2007 86.4% YEAR BUILT / YEAR RENOVATED 2006 / NA APPRAISED VALUE $37,200,000 PROPERTY MANAGEMENT KRG Management, LLC UW ECONOMIC OCCUPANCY 93.1% UW REVENUES $3,228,472 UW TOTAL EXPENSES $766,238 UW NET OPERATING INCOME (NOI) $2,462,233 UW NET CASH FLOW (NCF) $2,395,500 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 73 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- KEDRON VILLAGE - PHASE II - -------------------------------------------------------------------------------- TENANT SUMMARY NET % OF NET ANNUAL % OF RATINGS* RENTABLE AREA RENTABLE BASE RENT BASE TOTAL ANNUAL LEASE TENANT FITCH/MOODY'S/S&P (SF) AREA PSF RENT BASE RENT EXPIRATION - -------------------------------------------------------------------------------------------------------------------------------- MAJOR TENANTS Ross Dress for Less ...... NR/NR/BBB 30,187 19.2% $10.50 $ 316,964 13.2% January 2017 Bed Bath & Beyond ........ NR/NR/BBB 23,401 14.9 $12.82 300,001 12.5 January 2017 PETCO .................... NR/NR/B 15,258 9.7 $15.25 232,685 9.7 January 2017 Famous Footwear .......... BB+/B1/BB 7,520 4.8 $16.00 120,320 5.0 August 2016 Hibbett Sports ........... NR/NR/NR 5,000 3.2 $21.75 108,750 4.5 January 2017 ------- ----- ---------- ----- TOTAL MAJOR TENANTS ... 81,366 51.7% $13.26 $1,078,719 45.0% NON-MAJOR TENANTS ........ 54,573 34.7 $24.17 1,318,835 55.0 ------- ----- ---------- ----- OCCUPIED TOTAL ........... 135,939 86.4% $17.64 $2,397,554 100.0% VACANT SPACE ............. 21,470 13.6 ========== ===== ------- ----- PROPERTY TOTAL ........... 157,409 100.0% ======= ===== * Certain ratings are those of the parent wether 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 1 $25.00 1,467 0.9% 0.9% 1.5% 1.5% 2010 1 $25.00 1,726 1.1% 2.0% 1.8% 3.3% 2011 15 $23.53 29,281 18.6% 20.6% 28.7% 32.1% 2012 4 $25.44 7,186 4.6% 25.2% 7.6% 39.7% 2013 1 $26.00 1,600 1.0% 26.2% 1.7% 41.4% 2014 0 $ 0.00 0 0.0% 26.2% 0.0% 41.4% 2015 0 $ 0.00 0 0.0% 26.2% 0.0% 41.4% 2016 5 $21.40 20,833 13.2% 39.4% 18.6% 60.0% 2017 4 $12.98 73,846 46.9% 86.4% 40.0% 100.0% Thereafter 0 $ 0.00 0 0.0% 86.4% 0.0% 100.0% Vacant 0 NA 21,470 13.6% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 74 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- KEDRON VILLAGE - PHASE II - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "Kedron Village - Phase II Loan") is secured by a first deed to secure debt encumbering an anchored retail center consisting of approximately 157,409 square feet located in Peachtree City, Georgia. The Kedron Village - Phase II Loan represents approximately 2.0% of the Cut-Off Date Pool Balance. The Kedron Village - Phase II Loan was originated on December 20, 2006, and has a principal balance as of the Cut-Off Date of $29,700,000. The Kedron Village - Phase II Loan provides for interest-only payments for the first 60 months of its term, and thereafter fixed monthly payments of principal and interest. The Kedron Village - Phase II Loan has a remaining term of 110 months and matures on January 11, 2017. The Kedron Village - Phase II Loan may be prepaid on or after November 11, 2016, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is KRG Kedron Village, LLC, a special purpose entity. The sponsor of the borrower is Kite Realty Group, L.P., an operating subsidiary of Kite Realty Group Trust ("Kite"), a full service REIT focused on development, construction, acquisition, ownership, and operation of high quality neighborhood and community shopping centers. As of June 30, 2007, Kite owned interests in approximately 48 retail operating properties totaling approximately 7.0 million square feet. Kite also owned approximately 563,000 square feet of commercial operating properties and a parking garage. The company owned interests in 12 retail properties currently under development that are expected to total approximately 2.2 million square feet. o THE PROPERTY. The Mortgaged Property is an anchored retail property of approximately 157,409 square feet consisting of six two-story buildings, improved on approximately 20.5 acres. The Mortgaged Property was constructed in 2006. The Mortgaged Property is shadow anchored by a Target store comprised of approximately 124,717 square feet on approximately 13.0 acres that is separately owned. As of September 1, 2007, the occupancy rate for the Mortgaged Property securing the Kedron Village - Phase II Loan was approximately 86.4%. The largest tenant is Ross Dress for Less, currently occupying approximately 30,187 square feet, or approximately 19.2% of the net rentable area. Ross Dress for Less is a chain of stores operated by Ross Stores, Inc. ("Ross"), which operates two discount clothing chains with more than 700 outlets located in strip malls in 27 states, mostly in the western U.S. and Guam. Ross Dress for Less sells closeout merchandise, including men's, women's and children's clothing, at discount prices. As of October 9, 2007, Ross Dress for Less was rated "BBB" (S&P). The Ross Dress for Less lease expires in January 2017. The second largest tenant is Bed Bath & Beyond ("BB&B"), currently occupying approximately 23,401 square feet or approximately 14.9% of the net rentable area. Founded in 1971, BB&B is a nationwide chain of superstores selling domestics merchandise and home furnishings. BB&B operates specialty retail stores in the United States, including Harmon Stores, Inc. and Christmas Tree Shops, Inc. Its domestics merchandise line includes items such as bed linens, bath accessories and kitchen textiles, and BB&B's home furnishings line includes items such as cookware, dinnerware, glassware and basic house wares. As of October 9, 2007, BB&B was rated "BBB" (S&P). The BB&B lease expires in January 2017. The third largest tenant is PETCO Animal Supplies, Inc. ("PETCO"), occupying approximately 15,258 square feet, or 9.7% of the net rentable area. PETCO is one of the largest specialty pet supplies retailers in the United States with approximately 780 stores in 49 states and the District of Columbia. It offers more than 10,000 pet-related products. As of October 9, 2007, PETCO was rated "B" (S&P). The PETCO lease expires in January 2017. o LOCKBOX ACCOUNT. The related Mortgage Loan documents do not require a lockbox account. o RECOURSE. The Mortgage Loan is structured as fully recourse to Kite Realty Group, L.P. until such time as the following conditions are met: (i) a DSC ratio of at least 1.20x interest only/1.00x amortizing based upon trailing 12-months, (ii) the borrower provides additional collateral in the form of an evergreen letter of credit or cash sufficient to result in a stabilized DSC ratio of 1.35x interest only/1.10x amortizing and (iii) certain other conditions as specified in the related Mortgage Loan documents. o PROPERTY MANAGEMENT. The Mortgaged Property is managed by KRG Management, LLC, an affiliate of the sponsor. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 75 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 76 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- UNIVERSITY HOUSE AT TEMPE APARTMENTS - -------------------------------------------------------------------------------- [PHOTO OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 77 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- UNIVERSITY HOUSE AT TEMPE APARTMENTS - -------------------------------------------------------------------------------- [MAP OMITTED] This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 78 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- UNIVERSITY HOUSE AT TEMPE APARTMENTS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $29,412,500 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 2.0% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR SCI Real Estate Investments LLC TYPE OF SECURITY Fee MORTGAGE RATE 6.378% MATURITY DATE(1) September 11, 2017 AMORTIZATION TYPE Interest-Only ARD INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 118 / IO LOCKBOX Yes UP-FRONT RESERVES TAX / INSURANCE Yes ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT $69,910 ADDITIONAL FINANCING(2) Mezzanine Debt $14,500,000 TRUST ASSET TOTAL DEBT ----------- ----------- CUT-OFF DATE BALANCE $29,412,500 $43,912,500 CUT-OFF DATE BALANCE / UNIT $ 73,531 $ 109,781 CUT-OFF DATE LTV 64.6% 96.5% MATURITY DATE LTV 64.6% 96.5% UW DSCR ON NCF(3) 1.51x 0.95x - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Tempe, AZ PROPERTY TYPE Multifamily - Student Housing SIZE (UNITS) 400 OCCUPANCY AS OF AUGUST 30, 2007 93.1% YEAR BUILT / YEAR RENOVATED 2001 / NA APPRAISED VALUE $45,500,000 PROPERTY MANAGEMENT JPI Management Services, L.P. UW ECONOMIC OCCUPANCY 90.2% UW REVENUES $4,685,184 UW TOTAL EXPENSES $1,756,395 UW NET OPERATING INCOME (NOI) $2,928,789 UW NET CASH FLOW (NCF) $2,828,789 - -------------------------------------------------------------------------------- (1) The University House at Tempe Apartments Loan has an anticipated repayment date of September 11, 2017, and matures on September 11, 2022. (2) Future mezzanine debt is permitted subject to certain conditions including, but not limited to: (i) the existing mezzanine debt has been repaid in full, (ii) an aggregate DSC ratio of no less than 1.15x, (iii) the aggregate LTV ratio shall not exceed 90.0% and (iv) certain other conditions as specified in the related Mortgage Loan documents. (3) The mezzanine debt is a floating rate loan that accrues interest at a rate of 1-month LIBOR plus 2.500% per annum for the initial loan term. If borrower exercises the extension option, the spread is subject to change. For purposes of calculating the total debt service coverage ratio, an assumed LIBOR of 5.13625% was utilized to calculate the mezzanine loan debt service. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 79 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- UNIVERSITY HOUSE AT TEMPE APARTMENTS - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - -------------------------------------------------------------------------------------------------------------- 1 BR / 1 BA ................... 192 854 163,968 38.8% $750 2 BR / 2 BA ................... 132 1,159 152,988 36.2 $1,080 3 BR / 2 BA ................... 76 1,392 105,808 25.0 $1,547 --- ------- ----- TOTAL / WEIGHTED AVERAGE ... 400 1,057 422,764 100.0% $1,010 / $0.96 / SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 80 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- UNIVERSITY HOUSE AT TEMPE APARTMENTS - -------------------------------------------------------------------------------- o THE LOAN. The Mortgage Loan (the "University House at Tempe Apartments Loan") is secured by a first deed of trust encumbering a 400-unit student housing multifamily complex located in Tempe, Arizona. The University House at Tempe Apartments Loan represents approximately 2.0% of the Cut-Off Date Pool Balance. The University House at Tempe Apartments Loan was originated on September 6, 2007, and has a principal balance as of the Cut-Off Date of $29,412,500. The University House at Tempe Apartments Loan provides for interest-only payments for the entire loan term. The University House at Tempe Apartments Loan has a remaining term of 118 months, an anticipated repayment date of September 11, 2017 and matures on September 11, 2022. The University House at Tempe Apartments Loan may be prepaid on or after July 11, 2017, and permits defeasance with United States government obligations beginning 2 years after the Closing Date. o THE BORROWER. The borrower is SCI Gateway on Apache Fund, LLC, a special purpose entity. The sponsor of the borrower is SCI Real Estate Investments LLC ("SCI"). Established in 1994 and headquartered in southern California, SCI is a real estate investment company that acquires and manages investment property primarily in California and Nevada. SCI generates its funds primarily from like-kind exchanges under Section 1031 of the Internal Revenue Code its existing properties. The principals of SCI are Marc J. Paul and Robert A. Robotti. Mr. Robotti and Mr. Paul were co-founders of RE/MAX Commercial Brokerage. Mr. Robotti is a co-founder and Chief Financial Officer of SCI and SCI Property Management Company and is also the Managing Director of RE/MAX Commercial Brokerage. Mr. Paul is co-founder and President of SCI, SCI Property Management Company and RE/MAX Commercial Brokerage. o THE PROPERTY. The Mortgaged Property is an approximately 400-unit student housing multifamily complex that consists of garden style units in 23 two and three-story buildings situated on approximately 19.4 acres. The Mortgaged Property was constructed in 2001 and is located in Tempe, Arizona. The amenities include a leasing office, clubhouse, fitness center, sand volleyball court, picnic area with grills, tanning bed, recreation room, study/business center, two swimming pools with spa and covered parking within a gated community. Interior amenities include a refrigerator, range/oven, built in microwaves, dishwasher, disposal, ceiling fans, washer/dryers in each unit, built in desks and balconies. As of August 30, 2007, the occupancy rate for the Mortgaged Property securing the University House at Tempe Apartments Loan was approximately 93.1%. 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 balance of $14,500,000 was provided by Wachovia Bank, National Association on September 6, 2007. The mezzanine loan is not an asset of the Trust Fund and is secured by a pledge of the equity interests in the borrower for the University House at Tempe Apartments Loan. The mezzanine loan accrues interest during its initial loan term at a floating rate of one-month LIBOR plus 2.500% per annum. The University at Tempe Apartments Mezzanine Loan matures on February 11, 2008, with one seven-month extension option. The University at Tempe Apartments Mezzanine Loan provides for interest-only payments for the entire loan. o PROPERTY MANAGEMENT. JPI Management Services, L.P. ("JPI") is the property manager for the Mortgaged Property securing the University House at Tempe Apartments Loan. JPI has over 20 years experience and currently manages approximately 15 student housing communities located in nine states. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 81 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- REFLECTIONS AT THE LAKES - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $28,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.9% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR JB Matteson Investors V, LLC TYPE OF SECURITY Fee MORTGAGE RATE 5.750% MATURITY DATE August 11, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 57 / IO LOCKBOX None UP-FRONT RESERVES TAX Yes ONGOING ANNUAL RESERVES TAX/INSURANCE Yes/Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $28,000,000 CUT-OFF DATE BALANCE / UNIT $85,890 CUT-OFF DATE LTV 71.8% MATURITY DATE LTV 71.8% UW DSCR ON NCF 1.28x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Las Vegas, NV PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 326 OCCUPANCY AS OF JULY 30, 2007 93.6% YEAR BUILT / YEAR RENOVATED 1989 / NA APPRAISED VALUE $39,000,000 PROPERTY MANAGEMENT Alliance Residential, LLC UW ECONOMIC OCCUPANCY 93.3% UW REVENUES $3,408,010 UW TOTAL EXPENSES $1,266,350 UW NET OPERATING INCOME (NOI) $2,141,660 UW NET CASH FLOW (NCF) $2,060,160 - -------------------------------------------------------------------------------- This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 82 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- REFLECTIONS AT THE LAKES - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - --------------------------------------------------------------------------------------------------------- 1 BR / 1 BA ................ 170 708 120,280 43.4% $795 2 BR / 2 BA ................ 156 1,005 156,800 56.6 $916 --- ------- ----- TOTAL / WEIGHTED AVERAGE ... 326 850 277,080 100.0% $853 / $1.00 / SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 83 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- GLENBROOKE AT PALM BAY - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER BCRE CUT-OFF DATE BALANCE(1) $27,110,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.8% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Walton Street Real Estate Fund V, L.P. TYPE OF SECURITY Fee MORTGAGE RATE 5.948% MATURITY DATE May 1, 2012 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 60 / IO REMAINING TERM / AMORTIZATION 54 / IO LOCKBOX Yes UP-FRONT RESERVES TAX/INSURANCE Yes ENGINEERING $26,195 ONGOING ANNUAL RESERVES TAX/INSURANCE(2) Yes/Springing REPLACEMENT $42,504 ADDITIONAL FINANCING B-Note $ 3,000,000 WHOLE TRUST ASSET MORTGAGE LOAN ----------- ------------- CUT-OFF DATE BALANCE $27,110,000 $30,110,000 CUT-OFF DATE BALANCE/UNIT $ 159,471 $ 177,118 CUT-OFF DATE LTV 72.0% 80.0% MATURITY DATE LTV 72.0% 80.0% UW DSCR ON NCF 1.33x 1.20x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Palm Bay, FL PROPERTY TYPE Multifamily-Senior Housing/ Independent Living SIZE (UNITS) 170 OCCUPANCY AS OF AUGUST 31, 2007 91.8% YEAR BUILT / YEAR RENOVATED 2003/NA APPRAISED VALUE $37,640,000 PROPERTY MANAGEMENT Senior Lifestyle Management, L.L.C. UW ECONOMIC OCCUPANCY 91.8% UW REVENUES $4,558,817 UW TOTAL EXPENSES $2,345,144 UW NET OPERATING INCOME (NOI) $2,213,673 UW NET CASH FLOW (NCF) $2,171,173 - -------------------------------------------------------------------------------- (1) The total balance of the Glenbrooke at Palm Bay loan is $30,110,000 as of the Cut-Off Date ("Whole Loan") and consists of a senior A Note with a Cut-Off Date Balance of $27,110,000 and a subordinate B Note with a Cut-Off Date Pool Balance of $3,000,000. Unless otherwise specified, the DSC ratio, the LTV ratio and other calculations with respect to the Glenbrooke at Palm Bay loan are based on the A Note and exclude the B Note. (2) Monthly deposits for Insurance premiums are not required, provided the borrower delivers to the mortgagee evidence satisfactory to mortgagee of the renewal of expiring insurance policies. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 84 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- GLENBROOKE AT PALM BAY - -------------------------------------------------------------------------------- UNIT MIX(3) APPROXIMATE APPROXIMATE AVERAGE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA MONTHLY RENT - ------------------------------------------------------------------------------------------------ INDEPENDENT LIVING UNITS One Bedroom 96 661 63,472 41.2% $2,347 Two Bedroom 74 1,225 90,620 58.8% $2,464 --- ------- ----- TOTAL/WEIGHTED AVERAGE 170 907 154,092 100.0% $2,398 === ======= ===== (3) The above information is based on the Appraisal from Integra Realty Resources dated February 28, 2007. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 85 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ONE & TWO RIVERWOOD - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $26,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.8% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR NNN Realty Advisors, LLC TYPE OF SECURITY Fee MORTGAGE RATE(1) 6.190% MATURITY DATE September 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 72 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 118 / 360 LOCKBOX(2) Springing UP-FRONT RESERVES TAX/INSURANCE Yes FREE RENT & OUTSTANDING TI(3) $352,765 TI / LC(4) $1,700,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT(5) Yes TI/LC(4) Yes ADDITIONAL FINANCING Secured Subordinate $3,125,000 TRUST ASSET TOTAL DEBT ----------- ----------- CUT-OFF DATE BALANCE $26,500,000 $29,625,000 CUT-OFF DATE BALANCE/SF $ 135 $ 151 CUT-OFF DATE LTV 72.6% 81.2% MATURITY DATE LTV 69.1% 77.7% UW DSCR ON NCF 1.30x 1.05x(6) - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Pewaukee, WI PROPERTY TYPE Office - Suburban SIZE (SF) 196,013 OCCUPANCY AS OF AUGUST 1, 2007 94.0% YEAR BUILT / YEAR RENOVATED 1999 / NA APPRAISED VALUE $36,500,000 PROPERTY MANAGEMENT Triple Net Properties Realty, Inc. UW ECONOMIC OCCUPANCY 94.0% UW REVENUES $4,078,953 UW TOTAL EXPENSES $1,527,732 UW NET OPERATING INCOME (NOI) $2,551,221 UW NET CASH FLOW (NCF) $2,521,819 - -------------------------------------------------------------------------------- (1) The interest rate varies during the loan term. The rate is 5.830% per annum through 9/11/2010, 6.190% per annum thereafter. See "DESCRIPTION OF THE MORTGAGE POOL - Additional Mortgage Loan Information" in the Prospectus Supplement. (2) A lockbox may be required upon either: (i) an event of default, (ii) the DSC ratio falls below 1.15x or (iii) certain other conditions as specified in the related Mortgage Loan documents. (3) Free Rent will be disbursed from October 11, 2007, through February 11, 2008, for certain tenants, as further described in the Mortgage Loan documents. (4) At origination, $1,700,000 was escrowed to fund a TI/LC reserve. Beginning on the 49th payment date and continuing thereafter, a payment of $14,701 per month will be deposited into the TI/LC reserve by the borrower. The reserve can be used for funding certain leasing expenses. (5) Beginning on the 25th payment date and continuing thereafter, a payment of $2,450 per month will be deposited into a replacement reserve by the borrower. (6) The secured subordinate debt is a floating rate loan that accrues interest at a rate of 1-month LIBOR plus 5.000% per annum through February 12, 2008 and 1-month LIBOR plus 10.000% per annum thereafter. For purposes of calculating the total debt service coverage ratio, an assumed LIBOR of 5.13625% was utilized to calculate the secured subordinate debt service. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 86 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ONE & TWO RIVERWOOD - -------------------------------------------------------------------------------- TENANT SUMMARY % OF NET RATINGS(1) NET RENTABLE RENTABLE BASE RENT TENANT FITCH/MOODY'S/S&P AREA (SF) AREA PSF - ----------------------------------------------------------------------------------------------- MAJOR TENANTS Humana Wisconsin Health Organization .................. BBB-/Baa3/BBB 57,406 29.3% $14.83 Michael Best & Friedrick LLP ..... NR/NR/NR 20,601 10.5 $13.50 Connecture Acquisition LLC. ...... NR/NR/NR 18,091 9.2 $13.91 Robert W. Baird & Co. Incorporated NR/NR/NR 16,982 8.7 $13.00 Ayers Associates, Inc ............ NR/NR/NR 8,948 4.6 $13.39 ------- ----- TOTAL MAJOR TENANTS .............. 122,028 62.3% $14.11 NON-MAJOR TENANTS ................... 62,167 31.7 $14.06 ------- ----- OCCUPIED TOTAL ...................... 184,195 94.0% $14.09 VACANT SPACE ........................ 11,818 6.0 ------- ----- PROPERTY TOTAL ...................... 196,013 100.0% ======= ===== % OF TOTAL ANNUAL BASE TENANT ANNUAL BASE RENT RENT LEASE EXPIRATION - ------------------------------------------------------------------------------------------- MAJOR TENANTS Humana Wisconsin Health Organization .................. $ 851,614 32.8% Multiple Spaces(2) Michael Best & Friedrick LLP ..... 278,114 10.7 May 2012 Connecture Acquisition LLC. ...... 251,646 9.7 April 2012 Robert W. Baird & Co. Incorporated 220,766 8.5 Multiple Spaces(3) Ayers Associates, Inc ............ 119,814 4.6 March 2015 ---------- ----- TOTAL MAJOR TENANTS .............. $1,721,953 66.3% NON-MAJOR TENANTS ................... 873,922 33.7 ---------- ----- OCCUPIED TOTAL ...................... $2,595,875 100.0% 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, 3,735 square feet expire in October 2008, and 53,671 square feet expire in October 2012. (3) Under the terms of multiple leases, 13,442 square feet expire in February 2013, and 3,540 square feet expire in May 2013. 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 2 $ 4.59 4,706 2.4% 2.4% 0.8% 0.8% 2008 1 $13.90 3,735 1.9% 4.3% 2.0% 2.8% 2009 4 $16.74 19,002 9.7% 14.0% 12.3% 15.1% 2010 2 $14.22 7,073 3.6% 17.6% 3.9% 19.0% 2011 2 $14.57 11,767 6.0% 23.6% 6.6% 25.6% 2012 6 $14.31 100,416 51.2% 74.8% 55.4% 80.9% 2013 2 $13.00 16,982 8.7% 83.5% 8.5% 89.4% 2014 2 $13.37 11,566 5.9% 89.4% 6.0% 95.4% 2015 1 $13.39 8,948 4.6% 94.0% 4.6% 100.0% 2016 0 $ 0.00 0 0.0% 94.0% 0.0% 100.0% 2017 0 $ 0.00 0 0.0% 94.0% 0.0% 100.0% Thereafter 0 $ 0.00 0 0.0% 94.0% 0.0% 100.0% Vacant 0 NA 11,818 6.0% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 87 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THE PRESERVE AT THE FORT APARTMENTS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $26,250,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.8% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Hamilton Zanze TYPE OF SECURITY Fee MORTGAGE RATE 5.830% MATURITY DATE September 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 118 / 360 LOCKBOX(1) Springing UP-FRONT RESERVES TAX / INSURANCE Yes RENOVATION(2) $1,000,000 ONGOING ANNUAL RESERVES TAX / INSURANCE Yes RENOVATION(2) Springing ADDITIONAL FINANCING(3) None CUT-OFF DATE BALANCE $26,250,000 CUT-OFF DATE BALANCE / UNIT $83,866 CUT-OFF DATE LTV 75.6% MATURITY DATE LTV 70.6% UW DSCR ON NCF 1.13x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Fort Collins, CO PROPERTY TYPE Multifamily - Student Housing SIZE (UNITS) 313 OCCUPANCY AS OF AUGUST 13, 2007 94.9% YEAR BUILT / YEAR RENOVATED 1994 / NA APPRAISED VALUE $34,700,000 PROPERTY MANAGEMENT Riverstone Residental SW, LLC UW ECONOMIC OCCUPANCY 94.0% UW REVENUES $3,113,757 UW TOTAL EXPENSES $1,017,962 UW NET OPERATING INCOME (NOI) $2,095,795 UW NET CASH FLOW (NCF) $2,095,795 - -------------------------------------------------------------------------------- (1) A lockbox may be required upon either: (i) an event of default, (ii) the DSC ratio falls below 1.10x or (iii) if the Mezzanine Debt has not been fully repaid prior to November 11, 2007. (2) At origination, $1,000,000 was escrowed to fund a renovation reserve. If the balance of the reserve falls below $75,000, then $6,521 will be deposited into the reserve each month until the balance equals or exceeds $200,000. (3) Future mezzanine debt is permitted subject to certain condition including, but not limited to: (i) the aggregate LTV ratio shall not exceed 80.0%, (ii) an aggregate DSC ratio shall not be less than 1.20x, (iii) an intercreditor agreement acceptable to the mortgagee and (iv) other conditions as specified in the related Mortgage Loan documents. (4) The mezzanine debt is a floating rate loan that accrues interest at a rate of 1-month LIBOR plus 5.000% per annum through November 10, 2007 and at one-month LIBOR plus 10.000% per annum thereafter. For purposes of calculating the total debt service coverage ratio, an assumed LIBOR of 5.13625% was utilized to calculate the mezzanine loan debt service. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 88 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THE PRESERVE AT THE FORT APARTMENTS - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - ------------------------------------------------------------------------------------------------------- 1 BR / 1 BA ................ 118 733 86,494 27.2% $763 2 BR / 2 BA ................ 48 1,040 49,920 15.7 $910 2 BR / 2 BA ................ 73 1,125 82,125 25.8 $964 2 BR / 2 BA ................ 50 1,293 64,650 20.3 $998 2 BR / 2 BA ................ 12 1,364 16,368 5.1 $1,140 3 BR / 2 BA ................ 12 1,549 18,588 5.8 $1,275 --- ------- ----- TOTAL / WEIGHTED AVERAGE ... 313 1,016 318,145 100.0% $904 / $0.89/SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 89 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THE FALLS AT HIGHPOINT APARTMENTS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $26,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.8% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Brian E. Eliason & David J. Eliason TYPE OF SECURITY Fee MORTGAGE RATE(1) 5.850% MATURITY DATE March 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 36 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 112 / 360 LOCKBOX(2) Springing UP-FRONT RESERVES TAX / INSURANCE Yes ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT $171,336 ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $26,000,000 CUT-OFF DATE BALANCE/UNIT $36,723 CUT-OFF DATE LTV 73.8% MATURITY DATE LTV 66.5% UW DSCR ON NCF 1.27x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Dallas, TX PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 708 OCCUPANCY AS OF AUGUST 2, 2007 93.1% YEAR BUILT / YEAR RENOVATED 1984 / 2002 APPRAISED VALUE $35,250,000 PROPERTY MANAGEMENT Lincoln Property Company UW ECONOMIC OCCUPANCY 77.5% UW REVENUES $5,396,572 UW TOTAL EXPENSES $2,889,165 UW NET OPERATING INCOME (NOI) $2,507,407 UW NET CASH FLOW (NCF) $2,336,071 - -------------------------------------------------------------------------------- (1) The interest rate varies during the loan term. The rate is 5.500% per annum during the interest-only period and 5.850% per annum thereafter. See "DESCRIPTION OF THE MORTGAGE POOL - Additional Mortgage Loan Information" in the Prospectus Supplement. (2) A lockbox may be required upon either: (i) an event of default, (ii) the DSC ratio falls below 1.05x or (iii) certain other conditions as specified in the related Mortgage Loan documents. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 90 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THE FALLS AT HIGHPOINT APARTMENTS - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - ------------------------------------------------------------------------------------------------------- 1 BR / 1 BA ................ 408 600 - 862 292,676 49.5% $611 - $731 2 BR / 1 BA ................ 72 866 - 997 65,496 11.1 $791 - $853 2 BR / 2 BA ................ 228 958 - 1,094 233,256 39.4 $832 - $954 --- ------- ----- TOTAL / WEIGHTED AVERAGE ... 708 835 591,428 100.0% $750 / $0.90/SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 91 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE PORTFOLIO - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $25,442,500 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.7% NUMBER OF MORTGAGE LOANS 10 LOAN PURPOSE Acquisition SPONSOR Cole Capital Advisors TYPE OF SECURITY Fee SUBSTITUTION(1) Yes MORTGAGE RATE(2) Various MATURITY DATE Various AMORTIZATION TYPE Interest-Only ARD INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM(3) / AMORTIZATION Various / IO LOCKBOX(4) Springing UP-FRONT RESERVES None ONGOING ANNUAL RESERVES TAX/INSURANCE Springing ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $25,442,500 CUT-OFF DATE BALANCE/SF $134 CUT-OFF DATE LTV 58.2% MATURITY DATE LTV 58.2% UW DSCR ON NCF 2.03x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 10 LOCATION Various PROPERTY TYPE Retail - Single Tenant SIZE (SF) 190,161 OCCUPANCY AS OF VARIOUS DATES 100.0% YEAR BUILT / YEAR RENOVATED Various / NA APPRAISED VALUE $43,723,000 PROPERTY MANAGEMENT Equity Fund Advisors, Inc. UW ECONOMIC OCCUPANCY 97.9% UW REVENUES $2,906,455 UW TOTAL EXPENSES $134,078 UW NET OPERATING INCOME (NOI) $2,772,377 UW NET CASH FLOW (NCF) $2,752,526 - -------------------------------------------------------------------------------- (1) The Cole Portfolio Loans allow for substitution subject to certain conditions including, but not limited to: (i) a minimum DSC ratio of 1.75x, (ii) a LTV ratio of no greater than 65.0%, (iii) certain replacement tenant credit rating requirements and minimum lease agreement terms and (iv) certain other conditions as specified in the related Mortgage Loan documents. (2) The weighted average rate for the 10 Mortgage Loans that comprise the Cole Portfolio is 5.329% per annum. (3) The weighted average remaining term for the 10 Mortgage Loans that comprise the Cole Portfolio is 114 months. (4) A lockbox will be required on or before the optional prepayment determination date or upon certain other conditions as specified in the related Mortgage Loan documents. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 92 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE PORTFOLIO - -------------------------------------------------------------------------------- COLE PORTFOLIO SUMMARY CUT-OFF CUT-OFF YEAR NET DATE DATE BUILT / RENTABLE BALANCE PROPERTY NAME PROPERTY TYPE BALANCE RENOVATED AREA (SF) PER SF - ---------------------------------------------------------------------------------------------------------------- Walgreens - Gretna, LA ............... Retail - Single Tenant $ 4,108,000 2001 / NA 14,490 $284 Walgreens - Ellenton, FL ............. Retail - Single Tenant 3,751,000 2001 / NA 14,490 $259 CVS - Flowery Branch, GA ............. Retail - Single Tenant 3,152,500 2006 / NA 12,900 $244 Walgreens - Mineral Wells, TX ........ Retail - Single Tenant 2,880,000 2006 / NA 14,820 $194 Wal-Mart - Chanute, KS ............... Retail - Single Tenant 2,858,000 1991 / NA 93,589 $ 31 Logan's Roadhouse - Florence, AL ..... Retail - Single Tenant 2,420,000 1996 / NA 8,014 $302 Logan's Roadhouse - Tuscaloosa, AL ... Retail - Single Tenant 2,087,500 1997 / NA 7,839 $266 Logan's Roadhouse - Killeen, TX ...... Retail - Single Tenant 1,605,500 2004 / NA 7,969 $201 Logan's Roadhouse - Waco, TX ......... Retail - Single Tenant 1,556,000 2004 / NA 8,060 $193 Logan's Roadhouse - Houston, TX ...... Retail - Single Tenant 1,024,000 2000 / NA 7,990 $128 ----------- ------- TOTAL/AVERAGE ........................ $25,442,500 190,161 $134 =========== ======= APPRAISED UNDERWRITTEN APPRAISED VALUE UNDERWRITTEN NET CASH PROPERTY NAME VALUE PER SF OCCUPANCY OCCUPANCY FLOW - ----------------------------------------------------------------------------------------------------------- Walgreens - Gretna, LA ............... $ 6,500,000 $449 100.0% 100.0% $ 426,319 Walgreens - Ellenton, FL ............. 6,000,000 $414 100.0% 100.0% 370,372 CVS - Flowery Branch, GA ............. 4,850,000 $376 100.0% 100.0% 309,968 Walgreens - Mineral Wells, TX ........ 4,580,000 $309 100.0% 100.0% 283,638 Wal-Mart - Chanute, KS ............... 4,400,000 $ 47 100.0% 100.0% 282,242 Logan's Roadhouse - Florence, AL ..... 4,840,000 $604 100.0% 90.0% 300,668 Logan's Roadhouse - Tuscaloosa, AL ... 4,180,000 $533 100.0% 90.0% 259,629 Logan's Roadhouse - Killeen, TX ...... 3,211,000 $403 100.0% 90.0% 199,473 Logan's Roadhouse - Waco, TX ......... 3,112,000 $386 100.0% 90.0% 193,308 Logan's Roadhouse - Houston, TX ...... 2,050,000 $257 100.0% 90.0% 126,910 ----------- ---------- TOTAL/AVERAGE ........................ $43,723,000 $230 100.0% 97.9% $2,752,526 =========== ========== COLE PORTFOLIO TENANT SUMMARY # OF % OF NET TENANT RATINGS(1) NET RENTABLE RENTABLE TENANT SPACES FITCH/MOODY'S/S&P AREA (SF) AREA - ---------------------------------------------------------------------------- Wal-Mart ............ 1 AA/Aa2/AA 93,589 49.2% Walgreens ........... 3 NR/Aa3/A+ 43,800 23.0 Logan's Roadhouse ... 5 NR/NR/B- 39,872 21.0 CVS ................. 1 BBB/Baa2/BBB+ 12,900 6.8 ------- ----- TOTAL TENANTS .... 190,161 100.0% OCCUPIED TOTAL ...... 190,161 100.0% VACANT SPACE ........ 0 0.0 ------- ----- PROPERTY TOTAL ...... 190,161 100.0% ======= ===== % OF BASE ANNUAL TOTAL ANNUAL TENANT RENT PSF BASE RENT BASE RENT LEASE EXPIRATION - --------------------------------------------------------------------------------- Wal-Mart ............ $ 3.15 $ 294,547 10.1% January 2019 Walgreens ........... $25.05 1,097,016 37.5 Multiple Spaces(2) Logan's Roadhouse ... $30.52 1,217,032 41.6 November 2026 CVS ................. $24.38 314,551 10.8 January 2032 ---------- ----- TOTAL TENANTS .... $15.37 $2,923,145 100.0% OCCUPIED TOTAL ...... $15.37 $2,923,145 100.0% 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, 14,490 square feet expire in November 2061 at Walgreens - Gretna, LA Mortgaged Property, 14,490 square feet expire in December 2061 at Walgreens - Ellenton, FL Mortgaged Property and 14,820 square feet expire in May 2081 at Walgreens - Mineral Wells, TX Mortgaged Property. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 93 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- COLE PORTFOLIO - -------------------------------------------------------------------------------- COLE PORTFOLIO LEASE EXPIRATION SCHEDULE # OF LEASES WA BASE RENT / TOTAL SF % OF TOTAL CUMULATIVE % OF % OF BASE CUMULATIVE % OF YEAR EXPIRING SF EXPIRING EXPIRING SF EXPIRING* SF EXPIRING* RENT EXPIRING* BASE RENT EXPIRING* - ------------------------------------------------------------------------------------------------------------------------ 2019 1 $ 3.15 93,589 49.2% 49.2% 10.1% 10.1% 2026 5 $30.52 39,872 21.0% 70.2% 41.6% 51.7% 2032 1 $24.38 12,900 6.8% 77.0% 10.8% 62.5% 2061 2 $27.92 28,980 15.2% 92.2% 27.7% 90.1% 2081 1 $19.43 14,820 7.8% 100.0% 9.9% 100.0% Vacant 0 NA 0 0.0% 0.0% 0.0% 0.0% * Calculated based upon approximate square footage occupied by each tenant. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 94 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- THIS PAGE INTENTIONALLY LEFT BLANK This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 95 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- WEST VOLUSIA TOWNE CENTRE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $25,300,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.7% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Refinance SPONSOR Dale A. Sutthoff TYPE OF SECURITY Fee MORTGAGE RATE 6.760% MATURITY DATE September 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 6 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 118 / 360 LOCKBOX None UP-FRONT RESERVES TAX/INSURANCE Yes ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT* Yes TI/LC $77,297 ADDITIONAL FINANCING None CUT-OFF DATE BALANCE $25,300,000 CUT-OFF DATE BALANCE / SF $164 CUT-OFF DATE LTV 71.3% MATURITY DATE LTV 62.4% UW DSCR ON NCF 1.12x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Orange City, FL PROPERTY TYPE Retail - Anchored SIZE (SF) 154,594 OCCUPANCY AS OF AUGUST 21, 2007 97.1% YEAR BUILT / YEAR RENOVATED 2007 / NA APPRAISED VALUE $35,500,000 PROPERTY MANAGEMENT Crossman & Company UW ECONOMIC OCCUPANCY 96.3% UW REVENUES $3,044,645 UW TOTAL EXPENSES $763,773 UW NET OPERATING INCOME (NOI) $2,280,872 UW NET CASH FLOW (NCF) $2,212,624 - -------------------------------------------------------------------------------- * Beginning on the 13th payment date and continuing thereafter, a payment of $1,288 per month will be deposited into a replacement reserve by the borrower. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 96 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- WEST VOLUSIA TOWNE CENTRE - -------------------------------------------------------------------------------- TENANT SUMMARY % OF NET ANNUAL % OF RATINGS* NET RENTABLE RENTABLE BASE BASE TOTAL ANNUAL LEASE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF RENT BASE RENT EXPIRATION - ------------------------------------------------------------------------------------------------------------------------------- MAJOR TENANTS Ross Dress for Less ...... NR/NR/BBB 30,187 19.5% $11.50 $ 347,151 14.9% January 2018 Bed Bath & Beyond ........ NR/NR/BBB 25,002 16.2 $11.00 275,022 11.8 January 2018 Michaels ................. NR/B2/B- 21,360 13.8 $12.00 256,320 11.0 February 2017 Old Navy ................. BB+/Ba1/BB+ 17,002 11.0 $13.50 229,527 9.9 March 2012 PETCO .................... NR/NR/B 15,235 9.9 $16.75 255,186 11.0 August 2017 ------- ----- ---------- ----- TOTAL MAJOR TENANTS ... 108,786 70.4% $12.53 $1,363,206 58.6% NON-MAJOR TENANTS ........ 41,352 26.7 $23.31 963,714 41.4 ------- ----- ---------- ----- OCCUPIED TOTAL ........... 150,138 97.1% $15.50 $2,326,920 100.0% VACANT SPACE ............. 4,456 2.9 ========== ===== ------- ----- PROPERTY TOTAL ........... 154,594 100.0% ======= ===== * 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* - -------------------------------------------------------------------------------------------------------------------------- 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 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2010 0 $ 0.00 0 0.0% 0.0% 0.0% 0.0% 2011 1 $22.00 2,956 1.9% 1.9% 2.8% 2.8% 2012 11 $20.51 34,627 22.4% 24.3% 30.5% 33.3% 2013 1 $18.00 4,012 2.6% 26.9% 3.1% 36.4% 2014 0 $ 0.00 0 0.0% 26.9% 0.0% 36.4% 2015 0 $ 0.00 0 0.0% 26.9% 0.0% 36.4% 2016 0 $ 0.00 0 0.0% 26.9% 0.0% 36.4% 2017 5 $15.69 50,154 32.4% 59.3% 33.8% 70.2% Thereafter 3 $11.86 58,389 37.8% 97.1% 29.8% 100.0% Vacant 0 NA 4,456 2.9% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 97 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- WATERSTONE APARTMENTS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $23,750,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.6% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR SCI Real Estate Investments TYPE OF SECURITY Fee MORTGAGE RATE 6.180% MATURITY DATE(1) September 11, 2017 AMORTIZATION TYPE Interest-Only ARD INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 118 / IO LOCKBOX Yes UP-FRONT RESERVES TAX/INSURANCE Yes INCOME SUPPORT(2) $250,000 ONGOING ANNUAL RESERVES TAX / INSURANCE Yes REPLACEMENT $38,192 ADDITIONAL FINANCING Mezzanine Debt $2,550,564 TRUST ASSET TOTAL DEBT ----------- ----------- CUT-OFF DATE BALANCE $23,750,000 $26,300,564 CUT-OFF DATE BALANCE / UNIT $ 77,110 $ 85,391 CUT-OFF DATE LTV 66.8% 74.0% MATURITY DATE LTV 66.8% 74.0% UW DSCR ON NCF 1.35x 1.19x(3) - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Austin, TX PROPERTY TYPE Multifamily - Conventional SIZE (UNITS) 308 OCCUPANCY AS OF AUGUST 17, 2007 82.8% YEAR BUILT / YEAR RENOVATED 2006 / NA APPRAISED VALUE $35,550,000 PROPERTY MANAGEMENT Alliance Residential, LLC UW ECONOMIC OCCUPANCY 87.5% UW REVENUES $3,512,009 UW TOTAL EXPENSES $1,473,370 UW NET OPERATING INCOME (NOI) $2,038,639 UW NET CASH FLOW (NCF) $1,977,039 - -------------------------------------------------------------------------------- (1) The Waterstone Apartments Loan has an anticipated repayment date of September 11, 2017, and matures on September 11, 2022. (2) The holdback may be released provided (i) no event of default and (ii) the gross monthly rental collections from the Mortgaged Property equals or exceeds $270,000 for the two preceding months. (3) The mezzanine debt is a floating rate loan that accrues interest at a rate of 1-month LIBOR plus 2.500% per annum for the initial loan term. If the borrower exercises its extension option, the spread is subject to change. For purposes of calculating the total debt service coverage ratio, an asumed LIBOR of 5.13625% was utilized to calculate the mezzanine loan debt service. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 98 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- WATERSTONE APARTMENTS - -------------------------------------------------------------------------------- UNIT MIX APPROXIMATE APPROXIMATE UNIT MIX NO. OF UNITS UNIT SIZE (SF) NRA (SF) % OF NRA ASKING RENT - -------------------------------------------------------------------------------------------------------------- 1 BR / 1 BA ................... 150 792 118,860 38.7% $864 2 BR / 2 BA ................... 116 1,123 130,322 42.4 $1,135 3 BR / 2 BA ................... 42 1,386 58,200 18.9 $1,429 --- ------- ----- TOTAL / WEIGHTED AVERAGE ... 308 998 307,382 100.0% $1,043 / $1.05 / SF === ======= ===== This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 99 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- HOME DEPOT - PATERSON, NJ - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $23,000,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.6% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR Peter O. Hanson TYPE OF SECURITY Leasehold MORTGAGE RATE 6.000% MATURITY DATE June 11, 2017 AMORTIZATION TYPE Interest-Only INTEREST ONLY PERIOD 120 ORIGINAL TERM / AMORTIZATION 120 / IO REMAINING TERM / AMORTIZATION 115 / IO LOCKBOX Yes UP-FRONT RESERVES FREE RENT(1) $1,169,167 VAPOR BARRIER(2) $75,000 ONGOING ANNUAL RESERVES TAX/INSURANCE(3) Springing REPLACEMENT(4) Springing BROWNSFIELD TAX REBATE(5) Springing ADDITIONAL FINANCING(6) None CUT-OFF DATE BALANCE $23,000,000 CUT-OFF DATE BALANCE/SF $169 CUT-OFF DATE LTV 79.9% MATURITY DATE LTV 79.9% UW DSCR ON NCF 1.21x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Paterson, NJ PROPERTY TYPE Retail - Single Tenant(7) SIZE (SF) 136,000 OCCUPANCY AS OF APRIL 30, 2007(8) 100.0% YEAR BUILT / YEAR RENOVATED 2007 / NA APPRAISED VALUE $28,800,000 PROPERTY MANAGEMENT Self Managed UW ECONOMIC OCCUPANCY 100.0% UW REVENUES $1,675,000 UW TOTAL EXPENSES $0 UW NET OPERATING INCOME (NOI) $1,675,000 UW NET CASH FLOW (NCF) $1,675,000 - -------------------------------------------------------------------------------- (1) A free rent reserve was established at closing which will be released as follows: $115,000 on July 11, 2007; $118,833 on August 11, 2007; $118,833 on September 11, 2007; $115,000 on October 11, 2007; $118,833 on November 11, 2007; $115,000 on December 11, 2007; $118,833 on January 11, 2008; $118,833 on February 11, 2008; $111,167 on March 11, 2008; and $118,833 on April 11, 2008. See "Risk Factors--The Mortgage Loans--Certain Mortgaged Properties May be Redeveloped or Renovated" in the Prospectus Supplement. (2) Funds escrowed for the installation of vapor barriers and mitigation systems in accordance with New Jersey Department of Environmental Protection guidance. (3) Ongoing annual deposits will be required upon an event of default or upon certain other conditions as specified in the related Mortgage Loan documents. (4) Ongoing annual deposits to the Replacement Reserve will be required upon an event of default or upon certain other conditions as specified in the related Mortgage Loan documents. (5) The borrower may have certain environnmental compliance funds reimbursed to it from state revenue taxes generated at the Mortgaged Property, as further described in the Mortgage Loan documents. Any such funds will be deposited in a reserve account controlled by the mortgagee and will be held by the Mortgagee as additional collateral for the loan. (6) Future mezzanine debt is permitted subject to: (i) combined LTV ratio shall not exceed 90.0%, (ii) aggregate DSC ratio shall not be less than 1.10x, (iii) an intercreditor agreement acceptable to the mortgagee and (iv) other conditions as specified in the related Mortgage Loan documents. (7) As of origination, the Mortgaged Property was being improved by the construction of a Home Depot; however, the improvements are not part of the subject collateral. (8) Construction of improvements at the Mortgaged Property is expected to be completed by January 1, 2008. The sole tenant has executed a lease but is not yet paying rent. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 100 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- HOME DEPOT - PATERSON, NJ - -------------------------------------------------------------------------------- TENANT SUMMARY % OF NET % OF RATINGS(1) NET RENTABLE RENTABLE BASE ANNUAL TOTAL ANNUAL LEASE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA RENT PSF BASE RENT BASE RENT EXPIRATION - ---------------------------------------------------------------------------------------------------------------------------------- Home Depot (Ground Lease) ... BBB+/Baa1/BBB+ 136,000 100.0% $12.32 $1,675,000 100.0% April 2037(2) ------- ----- PROPERTY TOTAL ........... 136,000 100.0% ======= ===== (1) Certain ratings are those of the parent whether or not the parent guarantees the lease. (2) There are eight five-year extension options, after the initial 30-year lease term with the rent stepping with each 5-year option. 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 - ------------------------------------------------------------------------------------------------------------------------------ 2037 1 $12.32 136,000 100.0% 100.0% 100.0% 100.0% Vacant 0 NA 0 0.0% 100.0% 0.0% 100.0% The following schedule details the contractual rent obligations under the Home Depot lease. RENT SCHEDULE LEASE BASE ANNUAL PERIOD RENT PSF BASE RENT - ----------------------------------- Years 1-10 $12.32 $1,675,000 Years 11-15 $12.67 $1,722,771 Years 16-20 $13.07 $1,777,491 Years 21-30 $13.51 $1,837,540 This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 101 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- POWAY CROSSINGS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- LOAN INFORMATION - -------------------------------------------------------------------------------- MORTGAGE LOAN SELLER Wachovia CUT-OFF DATE BALANCE $22,500,000 PERCENTAGE OF CUT-OFF DATE POOL BALANCE 1.5% NUMBER OF MORTGAGE LOANS 1 LOAN PURPOSE Acquisition SPONSOR MG Real Estate Partners, LP TYPE OF SECURITY Fee MORTGAGE RATE 6.940% MATURITY DATE September 11, 2017 AMORTIZATION TYPE Balloon INTEREST ONLY PERIOD 60 ORIGINAL TERM / AMORTIZATION 120 / 360 REMAINING TERM / AMORTIZATION 118 / 360 LOCKBOX None UP-FRONT RESERVES TAX/INSURANCE Yes TI/LC $250,000 DEBT SERVICE GUARANTY(1) $2,000,000 ONGOING ANNUAL RESERVES TAX/INSURANCE Yes REPLACEMENT $30,999 ADDITIONAL FINANCING(2) None CUT-OFF DATE BALANCE $22,500,000 CUT-OFF DATE BALANCE/SF $196 CUT-OFF DATE LTV 72.1% MATURITY DATE LTV 68.3% UW DSCR ON NCF 1.11x - -------------------------------------------------------------------------------- [PHOTO OMITTED] - -------------------------------------------------------------------------------- PROPERTY INFORMATION - -------------------------------------------------------------------------------- NUMBER OF MORTGAGED PROPERTIES 1 LOCATION Poway, CA PROPERTY TYPE Retail - Anchored SIZE (SF) 114,811 OCCUPANCY AS OF AUGUST 1, 2007 91.1% YEAR BUILT / YEAR RENOVATED 1988 / NA APPRAISED VALUE $31,200,000 PROPERTY MANAGEMENT NMC South, LLC UW ECONOMIC OCCUPANCY 95.0% UW REVENUES $2,650,152 UW TOTAL EXPENSES $577,022 UW NET OPERATING INCOME (NOI) $2,073,131 UW NET CASH FLOW (NCF) $1,979,447 - -------------------------------------------------------------------------------- (1) MG Real Estate Partners L.P. provided a $2,000,000 guaranty at origination which may be released upon the achievement of a DSC ratio of not less than 1.10x as further described in the related Mortgage Loan documents. (2) Future mezzanine debt is permitted subject to certain conditions including, but not limited to: (i) the mezzanine debt is coterminus with the term of the senior debt, (ii) an aggregate DSC ratio of no less than 1.20x, (iii) the aggregate LTV ratio shall not exceed 80.0% and (iv) certain other conditions as specified in the related Mortgage Loan documents. This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 102 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- POWAY CROSSINGS - -------------------------------------------------------------------------------- TENANT SUMMARY % OF NET % OF TOTAL RATINGS* NET RENTABLE RENTABLE BASE RENT ANNUAL ANNUAL BASE LEASE TENANT FITCH/MOODY'S/S&P AREA (SF) AREA PSF BASE RENT RENT EXPIRATION - ----------------------------------------------------------------------------------------------------------------------------------- MAJOR TENANTS LA Fitness ...................... NR/NR/NR 40,567 35.3% $17.36 $ 704,243 36.1% July 2018 Rite Aid ........................ CCC/Caa2/B 18,160 15.8 $ 7.00 127,120 6.5 May 2012 K-5 Boardshop ................... NR/NR/NR 10,320 9.0 $ 9.45 97,524 5.0 March 2010 My Kids Clubhouse ............... NR/NR/NR 4,493 3.9 $22.80 102,440 5.2 June 2011 Joelle's Salon & Medi Day Spa ... NR/NR/NR 3,500 3.0 $27.81 97,335 5.0 April 2017 ------ ----- ---------- ----- TOTAL MAJOR TENANTS .......... 77,040 67.1% $14.65 $1,128,663 57.8% NON-MAJOR TENANTS ............... 27,582 24.0 $29.89 824,508 42.2 ------ ----- ---------- ----- OCCUPIED TOTAL .................. 104,622 91.1% $18.67 $1,953,171 100.0% VACANT SPACE .................... 10,189 8.9 ========== ===== ------- ----- PROPERTY TOTAL .................. 114,811 100.0% ======= ===== * 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 2 $22.95 1,644 1.4% 1.4% 1.9% 1.9% 2009 1 $30.00 1,920 1.7% 3.1% 2.9% 4.9% 2010 9 $18.40 22,077 19.2% 22.3% 20.8% 25.7% 2011 2 $24.36 5,753 5.0% 27.3% 7.2% 32.9% 2012 5 $14.35 24,612 21.4% 48.8% 18.1% 50.9% 2013 0 $ 0.00 0 0.0% 48.8% 0.0% 50.9% 2014 1 $27.01 1,188 1.0% 49.8% 1.6% 52.6% 2015 1 $35.01 1,995 1.7% 51.6% 3.6% 56.2% 2016 1 $40.10 1,366 1.2% 52.7% 2.8% 59.0% 2017 1 $27.81 3,500 3.0% 55.8% 5.0% 63.9% Thereafter 1 $17.36 40,567 35.3% 91.1% 36.1% 100.0% Vacant 0 NA 10,189 8.9% 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 103 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 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 One & Two Riverwood, The Falls at Highpoint Apartments, One Ridgmar Centre, Governor's Pointe Office Campus and Hidden Lakes Apartments Loans. 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 - ---------------------------------------------------------------------------------------------------------------------------------- Ashford Hospitality Trust, Inc. 1 / 5 1 $158,105,000 10.7% 79.9% 1.37x 5.952% SCI Real Estate Investments, LLC 7 / 7 9, 39, 40, $113,607,900 7.7% 65.0% 1.52x 6.165% 22, 57, 16, 49 CapLease Credit LLC 1 / 3 2 $106,000,000 7.2% 57.2% 1.44x 6.320% Walton Street Real Estate Fund V, L.P. 5 / 5 11, 23, 27, 30, 36 $ 89,150,000 6.0% 74.0% 1.37x 5.948% NNN Realty Advisors, LLC 5 / 5 12, 21, 29, 42, 50 $ 82,551,500 5.6% 73.5% 1.28x 6.098% Cole Capital Advisors 26 / 26 56, 63, 64, 65, 66, $ 76,558,500 5.2% 63.4% 1.86x 5.585% 68, 69, 72, 80, 82, 84, 85, 86, 89, 91, 93, 94, 96, 97, 101, 102, 103, 104, 105, 107, 109 o CROSS-COLLATERALIZED AND CROSS-DEFAULTED MORTGAGE LOANS. Four groups of Mortgage Loans, representing approximately 5.8% 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 LTV RATIO ADJUSTMENTS. The LTV Ratio at certain of the Mortgaged Properties have been determined on an "as-stabilized" basis assuming certain assumptions come to pass. The table below identifies Mortgage Loans where the unaudited adjustments are reflected in the 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 RATIOS % OF CUT-OFF DATE MORTGAGE LOAN # OF LOANS LOAN NUMBERS POOL BALANCE - ---------------------------------------------------------------------------------------------------------- LTV ratio is based on the "as-stabilized" appraised value 3 4, 17, 20 7.2% This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 104 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- ADDITIONAL MORTGAGE LOAN INFORMATION o SUBORDINATE FINANCING EXISTING SUBORDINATE FINANCING # OF % OF CUT-OFF DATE EXISTING SUBORDINATE FINANCING LOANS LOAN NUMBERS POOL BALANCE - ---------------------------------------------------------------------------------------------- Secured by Mortgaged Property* 3 12, 21, 52 3.8% Secured by Ownership Interests in Borrower 6 9, 16, 35, 39, 46, 57 6.6% * Excludes Subordinate Companion Loans shown in the table "Subordinate Companion Loans" below. FUTURE SUBORDINATE FINANCING # OF % OF CUT-OFF DATE LOANS LOAN NUMBERS POOL BALANCE -------------------------------------------------- Secured by Ownership Interests in Borrower 25 9, 13, 17, 18, 20, 14.5% 28, 39, 52, 56, 63, 64, 65, 68, 69, 79, 82, 84, 89, 91, 94, 97, 101, 104, 105, 107 Secured by Mortgaged Property 2 2, 45 7.9% Unsecured Debt 2 51, 55 1.2% Secured by Ownership Interests in Borrower and Unsecured Debt 1 3 4.4% 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 - ------------------------------------------------------------------------------------------------------------------------------------ Nestle 94 Pool 2 $106,000,000 7.2% $39,457,509 Wachovia Bank 2100 Ross 5 $ 61,000,000 4.1% $10,000,000 Wachovia Bank Llano Logistics 7 $ 32,800,000 2.2% $ 4,000,000 Bank of America Glenbrooke at Palm Bay 11 $ 27,110,000 1.8% $ 3,000,000 Bank of America The Barrington 23 $ 18,000,000 1.2% $ 2,000,000 Bank of America Newforest Estates 36 $ 13,510,000 0.9% $ 2,500,000 Bank of America Winn-Dixie Distribution Center - Orlando, FL 24.01 $ 7,311,235 0.5% $ 3,605,059 Wachovia Bank Winn-Dixie Distribution Center - Orlando, FL (Note B) 24.02 $ 10,038,612 0.7% $ 3,605,059 Wachovia Bank Winn-Dixie Headquarters/Manufacturing Facility - Jacksonville, FL 25.01 $ 7,213,731 0.5% $ 3,556,982 Wachovia Bank Winn-Dixie Headquarters/Manufacturing Facility - Jacksonville, FL (Note B) 25.02 $ 9,904,736 0.7% $ 3,556,982 Wachovia Bank Winn-Dixie Distribution - Fitzgerald, GA 44.01 $ 4,485,583 0.3% $ 1,105,887 Wachovia Bank Winn-Dixie Distribution - Fitzgerald, GA (Note B) 44.02 $ 6,158,882 0.4% $ 1,105,887 Wachovia Bank Dean Foods - Opa-Locka, FL 75.01 $ 1,530,790 0.1% $ 377,405 Wachovia Bank Dean Foods - Opa-Locka, FL (Note B) 75.02 $ 2,101,835 0.1% $ 377,405 Wachovia Bank 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, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 105 WACHOVIA BANK COMMERCIAL MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-C34 - -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------------- Winn-Dixie Distribution Center - Orlando, FL 24.01 $ 7,311,235 0.5% 50.0% $ 7,311,235 WBCMT2007-C34 Winn-Dixie Distribution Center - Orlando, FL (Note B) 24.02 10,038,612 0.7 50.0% $10,038,612 WBCMT2007-C34 Winn-Dixie Headquarters/Manufacturing Facility - Jacksonville, FL 25.01 7,213,731 0.5 50.0% $ 7,213,731 WBCMT2007-C34 Winn-Dixie Headquarters/Manufacturing Facility - Jacksonville, FL (Note B) 25.02 9,904,736 0.7 50.0% $ 9,904,736 WBCMT2007-C34 ----------- --- $34,468,314 2.3% =========== === See "DESCRIPTION OF THE MORTGAGE POOL--Co-Lender Loans" in the Prospectus Supplement. OPEN PERIODS # OF LOAN % OF CUT-OFF LOANS NUMBERS DATE POOL BALANCE ---------------------------------------------- Open for ten periods 5 11, 23, 27, 30, 36 6.0% This material is for your private information, and none of Wachovia Capital Markets, LLC, Barclays Capital Inc. and Lehman Brothers 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 LEHMAN BROTHERS 106 The file "WBCMT 2007-C34 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-C34 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-C34 Free Writing Prospectus Annexes A1-6.xls" to your hard drive or network drive. Open the file "WBCMT 2007-C34 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 (Pools and Portfolios)" or "A-6 Debt Service Payment Schedules for the One & Two Riverwood, The Falls at Highpoint Apartments, One Ridgmar Centre, Governor's Pointe Office Campus and Hidden Lakes Apartments Loans", 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: 16 Oct 07, 12:00am