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GMAC Commercial Mortgage Securities, Inc. Series 2006-C1 Trust – ‘FWP’ on 1/25/06 re: GMAC Commercial Mortgage Securities, Inc. Series 2006-C1 Trust

On:  Wednesday, 1/25/06, at 4:20pm ET   ·   Accession #:  950136-6-420   ·   File #:  333-123974-02

Previous ‘FWP’:  ‘FWP’ on 1/24/06   ·   Next:  ‘FWP’ on 1/25/06   ·   Latest:  ‘FWP’ on 1/26/06

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 1/25/06  GMAC Com’l Mtge Secs Inc Seri… Tr FWP                    1:9K   GMAC Com’l Mtge Secs Inc Seri… Tr Capital Systems 01/FA

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free Writing Prospectus                             HTML     11K 

FWP
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                                                      FILED PURSUANT TO RULE 433
                                           REGISTRATION STATEMENT NO. 333-123974

Subject [/] CMBS: GMAC 06-C1 *PUBLICS* Px Guidance

GMAC Commercial Mortgage Securities, Inc,
Commercial Mortgage Pass-Through Certificates,
Series 2006-C1 $1.561B NEW ISSUE CMBS

Lead-Mgrs: Deutsche Bank Securities / Morgan Stanley & Co. Inc.
Co-Managers: GMAC
Rating Agencies: Fitch / Standard & Poor's

         Ratings       Class        WAL       Principal     Sub          Px
Class  (Fitch/S&P)    Size (1)     (yrs)       Window      Levels       Guid
 A-1     AAA/AAA       37.0         2.99     02/06-09/10   30.000%      S+9a
 A-1D    AAA/AAA       15.0         2.99     02/06-09/10   30.000%   (No Longer
                                                                     Available)
 A-2     AAA/AAA      166.0         4.72     09/10-02/11   30.000%      S+22a
 A-3     AAA/AAA       98.0         7.19     02/11-06/15   30.000%      S+32a
 A-1A    AAA/AAA      296.1         7.68     02/06-12/15   30.000%   (No Longer
                                                                     Available)
 A-4     AAA/AAA      576.1         9.66     06/15-11/15   30.000%      S+28a
 A-M     AAA/AAA      169.7         9.86     12/15-12/15   20.000%      S+32a
 A-J     AAA/AAA      114.6         9.86     12/15-12/15   13.250%      S+39a
 B        AA/AA        36.1         9.93     12/15-01/16   11.125%      S+45a
 C       AA-/AA-       19.1         9.94     01/16-01/16   10.000%      S+49a
 D        A+/A+        12.7         9.94     01/16-01/16    9.250%      S+53a
 E         A/A         21.2         9.94     01/16-01/16    8.000%      S+56a
 XP      AAA/AAA                     N/A         N/A          N/A       e+25a

(1) The balances of the certificates are approximate

********************************************************************************
********************************************************************************
Balances reflect the drop of two loans, Summer Chase Apartments ($14.077MM), and
1630 Welton ($7.3MM / Loan #DBM24616)
********************************************************************************
********************************************************************************

Collateral: 119 Loans / 214 Properties
Loan Sellers: GMAC Commercial Mortgage Corporation (35.5%),
              German American Capital Corporation (32.9%),
              CWCapital LLC (21.1%),
              Morgan Stanley Mortgage Capital Inc. (10.4%)
Property Types: Off 30.26%, Ret 26.41%, Multi 23.40%, Hotel 7.88%, MH 5.33%,
                SS 3.96%, Indus 2.47%, Mixed 0.28%
Geographic: CA 20.29%, FL 13.67%, AZ 8.56%, VA 7.66%, MD 6.40%, OH 4.38%,
            Other 39.05%

-DSCR/LTV: 1.48x / 70.85%
-Inves. Grade Loans: 3 loans for 11.71% of UPB
-Top 10 Loans: 43.86% of the pool, DSCR: 1.55x, LTV: 70.87%

-Top 3 Trust Assets       DSCR          LTV          %UPB
Mervyn's Portfolio        2.06x         65.0%        6.18%
James Center              1.56x         77.92%       5.82%
Seven Springs Village     1.46x         70.99%       5.41%

Expected Timing
Termsheets/Reds - Available
Launch / Price - On or about January 24th
Settlement - Monday January 30th

Disclaimer:

The issuer has filed a registration statement (including a prospectus)
(registration statement file no. 333-123974) with the SEC for the new offering
to which this free writing prospectus relates. Before you invest, you should
read the prospectus in that registration statement and other documents the
issuer has filed with the SEC for more complete information about the issuer and
this offering. You may get these documents for free by visiting EDGAR on the SEC
Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling 1-800-503-4611.

This free writing prospectus does not contain all information that is required
to be included in the base prospectus and the prospectus supplement. This free
writing prospectus is not an offer to sell or a solicitation of an offer to buy
these securities in any state where such offer, solicitation or sale is not
permitted.

The information in this free writing prospectus, if conveyed prior to the time
of your contractual commitment to purchase any of the Certificates, supersedes
any information contained in any prior similar materials relating to the
Certificates. The information in this free writing prospectus is preliminary,
and is subject to completion or change. This free writing prospectus is being
delivered to you solely to provide you with information about the offering of
the Certificates referred to in this free writing prospectus and to solicit an
offer to purchase the Certificates, when, as and if issued. Any such offer to
purchase made by you will not be accepted and will not constitute a contractual
commitment by you to purchase any of the Certificates, until we have accepted
your offer to purchase Certificates.

FWP
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You are advised that the terms of the Certificates, and the characteristics of
the mortgage loan pool backing them, may change (due, among other things, to the
possibility that mortgage loans that comprise the pool may become delinquent or
defaulted or may be removed or replaced and that similar or different mortgage
loans may be added to the pool, and 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. You are advised that Certificates may not be issued that
have the characteristics described in these materials. The underwriter's
obligation to sell such Certificates to you is conditioned on the mortgage loans
and Certificates having the characteristics described in these materials. If for
any reason the issuer does not deliver such Certificates, the underwriter will
notify you, and neither the issuer nor any underwriter will have any obligation
to you to deliver all or any portion of the Certificates which you have
committed to purchase, and none of the issuer nor any underwriter will be liable
for any costs or damages whatsoever arising from or related to such
non-delivery.

This free writing prospectus was prepared on the basis of certain assumptions
(including, in certain cases, assumptions specified by the recipient hereof)
regarding the pool assets and structure, including payments, interest rates,
weighted average lives and weighted average loan age, loss, spreads, market
availability and other matters. The actual amount, rate or timing of payments on
any of the underlying assets may be different, and sometimes materially
different than anticipated, and therefore the pricing, payment or yield
information regarding the certificates may be different from the information
provided herein. There can be no assurance that actual pricing will be completed
at the indicated value(s). In addition, pricing of the certificates may vary
significantly from the information contained in this free writing prospectus as
a result of various factors, including, without limitation, prevailing credit
spreads, market positioning, financing costs, hedging costs and risk and use of
capital and profit. The pricing estimates contained herein may vary during the
course of any particular day and from day to day. You should consult with your
own accounting or other advisors as to the adequacy of the information in this
free writing prospectus for your purposes.

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW THIS SENTENCE ARE NOT
APPLICABLE TO THIS MESSAGE AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER
NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THIS MESSAGE HAVING
BEEN SENT VIA BLOOMBERG OR ANOTHER SYSTEM.