UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Sec. 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) : December 16, 2002
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION (as depositor under the Pooling
and Servicing Agreement, dated May 1, 2001, providing for the issuance of the GE
Capital Commercial Mortgage Corporation Commercial Mortgage Pass-Through
Certificates Series 2001-1).
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 333-45884-02 22-3755203
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
292 Long Ridge Road
Stamford, Connecticut 06927
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (203) 357-4000
N/A
(Former name or former address, if changed since last report.)
<page>
Item 5. Other Events.
This report and the attached exhibit is being filed pursuant to "no-action"
positions taken by the Securities and Exchange Commission with respect to
alternative means of satisfying the Registrant's reporting obligations under the
Securities Exchange Act of 1934, as amended, with respect to the Registrant's GE
Capital Commercial Mortgage Corporation Commercial Mortgage Pass-Through
Certificates Series 2001-1. The Certificates were issued, and this report and
exhibit is being filed, pursuant to the terms of the Pooling and Servicing
Agreement, dated as of May 1, 2001 (the "Agreement"), among GE Capital
Commercial Mortgage Corporation, as depositor, GE Capital Loan Services Inc., as
master servicer, Midland Loan Services Inc. as special servicer, ABN AMRO Bank
N.V. as fiscal agent, and La Salle Bank N.A. as trustee, under the terms of the
Agreement.
On December 16, 2002 distributions were made to the Certificateholders.
Specific information with respect to these distributions is filed as Exhibit
99.1. No other reportable transactions or matters have occurred during the
current reporting period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) The following exhibit is filed as part of this report:
Statement to Certificateholders on December 16, 2002
as Exhibit 99.1
<page>
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION
Commercial Mortgage Pass-Through Certificates Series 2001-1
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
JPMORGAN CHASE BANK,
not in its individual capacity but solely
as Paying Agent under the Agreement
referred to herein
Date: December 26, 2002 By: /s/ Diane E. Wallace
--------------------------------------
Diane E. Wallace
Assistant Vice President
<page>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Statement to Certificateholders on December 16, 2002
<page>
Exhibit 99.1
Monthly Certificateholder Statement on December 16, 2002
GE Capital Commercial Mortgage Corporation
Commercial Mortgage Pass-Through Certificates Series 2001-1
STATEMENT TO CERTIFICATEHOLDERS
December 16, 2002
<table>
<s> <c> <c>
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DISTRIBUTION IN DOLLARS
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PREPAYMENT REALIZED
CURRENT ORIGINAL BEGINNING PREMIUMS/ LOSSES/ ENDING
PASS THROUGH FACE PRINCIPAL YIELD MAINT TRUST PRINCIPAL
CLASS CUSIP RATE VALUE BALANCE PRINCIPAL INTEREST CHARGES TOTAL EXPENSES BALANCE
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A1 36158YAZ2 6.079000% 171,865,000.00 156,874,890.89 1,000,293.09 794,702.05 0.00 1,794,995.14 0.00 155,874,597.80
A2 36158YBA6 6.531000% 703,045,000.00 703,045,000.00 0.00 3,826,322.41 0.00 3,826,322.41 0.00 703,045,000.00
B 36158YBB4 6.719000% 45,157,000.00 45,157,000.00 0.00 252,841.57 0.00 252,841.57 0.00 45,157,000.00
C 36158YBC2 6.971000% 49,390,000.00 49,390,000.00 0.00 286,914.74 0.00 286,914.74 0.00 49,390,000.00
D 36158YBD0 7.108000% 15,523,000.00 15,523,000.00 0.00 91,947.90 0.00 91,947.90 0.00 15,523,000.00
E 36158YBG3 6.657000% 15,522,000.00 15,522,000.00 0.00 86,108.30 0.00 86,108.30 0.00 15,522,000.00
F 36158YBH1 6.723000% 15,523,000.00 15,523,000.00 0.00 86,967.61 0.00 86,967.61 0.00 15,523,000.00
G 36158YBJ7 7.035000% 14,112,000.00 14,112,000.00 0.00 82,731.60 0.00 82,731.60 0.00 14,112,000.00
H 36158YBK4 6.207000% 25,400,000.00 25,400,000.00 0.00 131,381.50 0.00 131,381.50 0.00 25,400,000.00
I 36158YBL2 6.207000% 18,345,000.00 18,345,000.00 0.00 94,889.51 0.00 94,889.51 0.00 18,345,000.00
J 36158YBM0 6.207000% 9,878,000.00 9,878,000.00 0.00 51,093.96 0.00 51,093.96 0.00 9,878,000.00
K 36158YBN8 6.207000% 9,878,000.00 9,878,000.00 0.00 51,093.96 0.00 51,093.96 0.00 9,878,000.00
L 36158YBP3 6.207000% 14,112,000.00 14,112,000.00 0.00 72,994.32 0.00 72,994.32 0.00 14,112,000.00
M 36158YBQ1 6.207000% 4,233,000.00 4,233,000.00 0.00 21,895.19 0.00 21,895.19 0.00 4,233,000.00
N 36158YCC1 6.207000% 16,933,742.00 16,933,742.00 0.00 87,517.16 0.00 87,517.16 0.00 16,933,742.00
R N/A 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LR N/A 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
S N/A 0.000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 1,128,916,742.00 1,113,926,632.89 1,000,293.09 6,019,401.78 0.00 7,019,694.87 0.00 1,112,926,339.80
X1 36158YBE8 0.546620% 1,128,916,742.00 1,113,926,632.89 0.00 507,411.92 0.00 507,411.92 0.00 1,112,926,339.80
X2 36158YBF5 0.953605% 662,592,000.00 662,592,000.00 0.00 526,542.68 0.00 526,542.68 0.00 662,592,000.00
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FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
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BEGINNINNG PREPAYMENT REALIZED ENDING
PRINCIPAL PREMIUMS/YIELD LOSSES/TRUST PRINCIPAL
CLASS CUSIP FACTOR PRINCIPAL INTEREST MAINT CHARGES TOTAL EXPENSES FACTOR
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A1 36158YAZ2 912.77974509 5.82022570 4.62399005 0.00 10.44421575 0.00 906.95951939
A2 36158YBA6 1000.00000000 0.00000000 5.44250000 0.00 5.44250000 0.00 1000.00000000
B 36158YBB4 1000.00000000 0.00000000 5.59916669 0.00 5.59916669 0.00 1000.00000000
C 36158YBC2 1000.00000000 0.00000000 5.80916663 0.00 5.80916663 0.00 1000.00000000
D 36158YBD0 1000.00000000 0.00000000 5.92333312 0.00 5.92333312 0.00 1000.00000000
E 36158YBG3 1000.00000000 0.00000000 5.54750032 0.00 5.54750032 0.00 1000.00000000
F 36158YBH1 1000.00000000 0.00000000 5.60250016 0.00 5.60250016 0.00 1000.00000000
G 36158YBJ7 1000.00000000 0.00000000 5.86250000 0.00 5.86250000 0.00 1000.00000000
H 36158YBK4 1000.00000000 0.00000000 5.17250000 0.00 5.17250000 0.00 1000.00000000
I 36158YBL2 1000.00000000 0.00000000 5.17249986 0.00 5.17249986 0.00 1000.00000000
J 36158YBM0 1000.00000000 0.00000000 5.17250051 0.00 5.17250051 0.00 1000.00000000
K 36158YBN8 1000.00000000 0.00000000 5.17250051 0.00 5.17250051 0.00 1000.00000000
L 36158YBP3 1000.00000000 0.00000000 5.17250000 0.00 5.17250000 0.00 1000.00000000
M 36158YBQ1 1000.00000000 0.00000000 5.17249941 0.00 5.17249941 0.00 1000.00000000
N 36158YCC1 1000.00000000 0.00000000 5.16821149 0.00 5.16821149 0.00 1000.00000000
R N/A 0.00000000 0.00000000 0.00000000 0.00 0.00000000 0.00 0.00000000
LR N/A 0.00000000 0.00000000 0.00000000 0.00 0.00000000 0.00 0.00000000
S N/A 0.00000000 0.00000000 0.00000000 0.00 0.00000000 0.00 0.00000000
TOTALS 986.72168766 0.88606454 5.33201569 0.00 6.21808023 0.00 985.83562312
X1 36158YBE8 986.72168766 0.00000000 0.44946797 0.00 0.44946797 0.00 985.83562312
X2 36158YBF5 1000.00000000 0.00000000 0.79467105 0.00 0.79467105 0.00 1000.00000000
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If there are any questions or problems with this statement, please contact the Administrator listed below:
Eboni D. Dawkins
JPMorgan Chase Bank - Structured Finance Services
4 New York Plaza, 6th Floor,
New York, New York 10004
Tel: (212) 623-4468
Fax: (212) 623-5858
Email: eboni.dawkins@chase.com
<page>
Available Funds 8,053,649.46
Principal Distribution Amount 1,000,293.09
Scheduled Principal Distribution Amount 1,000,293.09
Miscellaneous Trust Fund Expenses 0.00
Interest Reserve Account
Deposits 0.00
Withdrawals 0.00
Balance Information
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GROUP LOAN COUNT SCHEDULED BEGINNING BEGINNING BEGINNING ENDING ENDING ENDING
AT BALANCE AT LOAN SCHEDULED UNPAID LOAN SCHEDULED UNPAID
SECURITIZATION SECURITIZATION COUNT BALANCE BALANCE COUNT BALANCE BALANCE
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1 150 1,115,212,103.28 150 1,100,686,291.43 1,100,713,694.32 150 1,099,713,433.76 1,099,743,074.37
2 1 13,704,639.53 1 13,240,341.46 13,240,341.46 1 13,212,906.04 13,212,906.04
TOTALS 151 1,128,916,742.81 151 1,113,926,632.89 1,113,954,035.78 151 1,112,926,339.80 1,112,955,980.41
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Loan Status Summary
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Loan Status Code Description Number Aggregate Principal Balance Percentage
A Payment not received but still in grace period 1 4,673,014.95 0.419885%
B Late Payment But Less than 30 days Delinquent 0 0.00 0.00%
0 Current 148 1,092,457,445.06 98.160804%
1 30-59 Days Delinquent 2 15,795,879.79 1.419310%
2 60-89 Days Delinquent 0 0.00 0.00%
3 90+ Days Delinquent 0 0.00 0.00%
4 Assumed Scheduled Payment (Performing Matured Balloon) 0 0.00 0.00%
7 Foreclosure 0 0.00 0.00%
9 REO 0 0.00 0.00%
98 Not Provided By Servicer 0 0.00 0.00%
Totals 151 1,112,926,339.80 100.000000%
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Prepayment Penalties
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CLASS PREPAYMENT YIELD MAINTENANCE
PREMIUM
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A1 0.00 0.00
A2 0.00 0.00
B 0.00 0.00
C 0.00 0.00
D 0.00 0.00
E 0.00 0.00
F 0.00 0.00
G 0.00 0.00
H 0.00 0.00
I 0.00 0.00
J 0.00 0.00
K 0.00 0.00
L 0.00 0.00
M 0.00 0.00
N 0.00 0.00
R 0.00 0.00
LR 0.00 0.00
S 0.00 0.00
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total 0.00 0.00
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Advance Summary
Principal & Interest Advances
Current Principal & Interest Advances 157,843.99
Outstanding Principal & Interest Advances 282,572.06
Reimbursement of Interest on any P&I Advances 75.62
Reimbursement of Interest on any T&I Advances 0.00
Fee Summary
Servicing Fees 48,734.76
Trustee Fees 1,160.34
Special Servicer Fee 0.00
Workout Fee 0.00
Appraisal Reduction Amounts -------------------------------------------------------------------------------------------
LOAN NUMBER MOST RECENT ASER CUMULATIVE ASER ARA (APPRAISAL APPRAISAL
AMOUNT REDUCTION AMOUNT) REDUCTION AMOUNT
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NONE
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Advanced Reduction due to Appraisal Reduction Amt (ASER) 0.00
<page>
Interest Detail
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CLASS ACCRUED PREPAYMENT BEGINNING INTEREST TOTAL CERTIFICATE ENDING
CERTIFICATE INTEREST UNPAID LOSS INTEREST INTEREST UNPAID
INTEREST SHORTFALL INTEREST PAYABLE DISTRIBUTABLE INTEREST
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A1 794,702.05 0.00 0.00 0.00 794,702.05 794,702.05 0.00
A2 3,826,322.41 0.00 0.00 0.00 3,826,322.41 3,826,322.41 0.00
X1 507,411.92 0.00 0.00 0.00 507,411.92 507,411.92 0.00
X2 526,542.68 0.00 0.00 0.00 526,542.68 526,542.68 0.00
B 252,841.57 0.00 0.00 0.00 252,841.57 252,841.57 0.00
C 286,914.74 0.00 0.00 0.00 286,914.74 286,914.74 0.00
D 91,947.90 0.00 0.00 0.00 91,947.90 91,947.90 0.00
E 86,108.30 0.00 0.00 0.00 86,108.30 86,108.30 0.00
F 86,967.61 0.00 0.00 0.00 86,967.61 86,967.61 0.00
G 82,731.60 0.00 0.00 0.00 82,731.60 82,731.60 0.00
H 131,381.50 0.00 0.00 0.00 131,381.50 131,381.50 0.00
I 94,889.51 0.00 0.00 0.00 94,889.51 94,889.51 0.00
J 51,093.96 0.00 0.00 0.00 51,093.96 51,093.96 0.00
K 51,093.96 0.00 0.00 0.00 51,093.96 51,093.96 0.00
L 72,994.32 0.00 0.00 0.00 72,994.32 72,994.32 0.00
M 21,895.19 0.00 0.00 0.00 21,895.19 21,895.19 0.00
N 87,589.78 0.00 115.57 0.00 87,705.35 87,517.16 188.19
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LR 0.00 0.00 0.00 0.00 0.00 0.00 0.00
S 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 7,053,429.00 0.00 115.57 0.00 7,053,544.57 7,053,356.38 188.19
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Reports Available at www.jpmorgan.com/absmbs Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.