10-D 1 cwc07c02_10d-200705.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from: April 13, 2007 to May 17, 2007 Commission File Number of issuing entity: 333-140740-01 COBALT CMBS Commercial Mortgage Trust 2007-C2 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-140740 CWCapital Commercial Funding Corp. (Exact name of depositor as specified in its charter) CWCapital LLC Wachovia Bank, National Association Citigroup Global Markets Realty Corp. Artesia Mortgage Capital Corporation (Exact name of sponsors as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2199356 54-2199357 54-6744137 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices of the issuing entity) (Zip Code) (410) 884-2000 (Telephone number, including area code) Not Applicable (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Title of Section Section Section Name of Exchange Class 12(b) 12(g) 15(d) (If Section 12(b)) A-1 ______ ______ ___X___ ___________ A-2 ______ ______ ___X___ ___________ A-AB ______ ______ ___X___ ___________ A-3 ______ ______ ___X___ ___________ A-1A ______ ______ ___X___ ___________ A-MFX ______ ______ ___X___ ___________ A-JFX ______ ______ ___X___ ___________ B ______ ______ ___X___ ___________ C ______ ______ ___X___ ___________ D ______ ______ ___X___ ___________ E ______ ______ ___X___ ___________ F ______ ______ ___X___ ___________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes __X__ No ____ Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On May 17, 2007 a distribution was made to holders of COBALT CMBS Commercial Mortgage Trust 2007-C2. The distribution report is attached as an Exhibit to this Form 10-D, please see Item 9(b), Exhibit 99.1 for the related information. Part II - OTHER INFORMATION Item 6. Significant Obligors of Pool Assets. The Peter Cooper Village & Stuyvesant Town Pool mortgage loan constitutes a significant obligor within the meaning of Item 1101(k)(2) of Regulation AB and as disclosed in the prospectus supplement for the COBALT CMBS Commercial Mortgage Trust 2007-C2. In accordance with Item 1112(b) of Regulation AB, the most recent unaudited net operating income of the significant obligor was $24,824,342 as of the end of first quarter, March 31, 2007. The 75 Broad Street Pool mortgage loan constitutes a significant obligor within the meaning of Item 1101(k)(2) of Regulation AB and as disclosed in the prospectus supplement for the CWCapital Commercial Funding Corp. Trust Series 2007-C2. In accordance with Item 1112(b) of Regulation AB, the most recent unaudited net operating income of the significant obligor was $4,807,821.37 as of the end of first quarter, March 31, 2007. Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D: (99.1) Monthly report distributed to holders of COBALT CMBS Commercial Mortgage Trust 2007-C2, relating to the May 17, 2007 distribution. (b) The exhibits required to be filed by the Registrant pursuant to this Form are listed above and in the Exhibit Index that immediately follows the signature page hereof. SIGNATURES 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 thereunto duly authorized. CWCapital Commercial Funding Corp. (Depositor) /s/ Robert Restrick Robert Restrick, Senior Vice President Date: May 31, 2007 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of COBALT CMBS Commercial Mortgage Trust 2007-C2, relating to the May 17, 2007 distribution. EX-99.1 Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 COBALT CMBS Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2007-C2 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available @ www.ctslink.com/cmbs Payment Date: May 17, 2007 Record Date: April 30, 2007 Determination Date: May 11, 2007 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 16 Mortgage Loan Detail 17 - 21 NOI Detail 22 - 26 Principal Prepayment Detail 27 Historical Detail 28 Delinquency Loan Detail 29 Specially Serviced Loan Detail 30 - 31 Advance Summary 32 Modified Loan Detail 33 Historical Liquidated Loan Detail 34 Historical Bond/Collateral Loss Reconciliation Detail 35 Interest Shortfall Reconciliation Detail 36 - 37 Supplemental Reporting 38 Depositor CWCapital Commercial Funding Corp. 1540 Broadway, 23rd Floor New York, NY 10036 Contact: Leigh Roumila Phone Number: (646) 253-8800 Master Servicer Wachovia Bank, National Association 8739 Research Drive URP 4, NC1075 Charlotte, NC 28262 Contact: Lea Land Phone Number: (704) 593-7950 Special Servicer CWCapital Asset Management LLC. 1919 Pennsylvania Avenue, NW Suite 400 Washington, DC 20006-3434 Contact: Kathleen Olin Phone Number: (202) 973-6375 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2007, Wells Fargo Bank, N.A.

Appraisal Reduction Amount None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 11,693,335.04 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 11,693,335.04 Principal: Scheduled Principal 280,195.69 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected 280,195.69 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 A-MFL Net Swap Counterparty Payments Received 7,650.00 A-JFL Net Swap Counterparty Payments Received 38,388.89 Total Other Collected: 46,038.89 Total Funds Collected 12,019,569.62 Total Funds Distributed Fees: Master Servicing Fee 54,705.09 Trustee Fee - Wells Fargo Bank, N.A. 1,834.76 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 56,539.85 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 0.00 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 0.00 Interest Reserve Deposit 0.00 Payments to Certificateholders & Others: Interest Distribution 11,682,834.09 Principal Distribution 280,195.69 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 A-MFL Net Swap Counterparty Payments Paid 0.00 A-JFL Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 11,963,029.78 Total Funds Distributed 12,019,569.63

See footnotes on last page of this section.

See footnotes on last page of this section.

See footnotes on last page of this section.

See footnotes on last page of this section.

See footnotes on last page of this section.

See footnotes on last page of this section.

Principal Prepayment Detail No Principal Prepayments this Period

Delinquency Loan Detail No Delinquent Loans this Period Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially Serviced Loans this Period

Modified Loan Detail No Modified Loans Historical Liquidated Loan Detail No Liquidated Loans this Period Historical Bond/Collateral Loss Reconciliation Detail No Realized Losses this Period

COBALT CMBS Commercial Mortgage Trust 2007-C2 10-D