UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) December 10, 2004

GMAC Commercial Mortgage Securities, Inc.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-115244
(Commission
File Number)

23-2811925
(IRS Employer
Identification No.)

200 Witmer Road, Horsham, Pennsylvania
(Address of principal executive offices)

19044
(Zip Code)

Registrant's telephone number, including area code 215-328-3164

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of GMAC Commercial Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 2004-C2, which was made on December 10, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 4.02 of the Pooling and Servicing Agreement for the distribution on December 10, 2004.

(Exhibit No. Description)

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 hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC., REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: December 15, 2004

GMAC Commercial Mortgage Securities, Inc.

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Administrator:
Ann Kelly 312.904.1487
ann.kelly@abnamro.com

Analyst:
Julie Kang 714.259.6208
julie.kang@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Shortfall Summary Report

Rating Information

Asset-Backed Facts ~ 15 Month Loan Status Summary
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary

Mortgage Loan Characteristics
Delinquent Loan Detail
Historical Collateral Prepayment

Page 2-4
Page 5-7
Page 8
Page 9

Page 10-11

Page 12-14
Page 15-17

Page 18-20
Page 21

Page 22

Loan Level Detail

Specially Serviced (Part I) - Loan Detail
Specially Serviced (Part II) - Servicer Comments
Historical REO Report

Modified Loan Detail
Realized Loss Detail
Appraisal Reduction Detail

Page 23-26

Page 27
Page 28
Page 29

Page 30
Page 31
Page 32

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

GMAC04C2

GMAC04C2_200412_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

12-Aug-04
10-Sep-04

10-Aug-38

Parties to The Transaction

Depositor: GMAC Commercial Mortgage Securities, Inc.

Underwriter: Deutsche Bank Securities Inc./Morgan Stanley Capital I Inc.

Master Servicer: GMAC Commercial Mortgage Corporation

Special Servicer: Midland Loan Services, Inc.

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.gmaccm.com

www.etrustee.net

Page 1 of 32

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.750029%

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

GMAC Commercial Mortgage Securities, Inc.

Mortgage Pass-Through Certificates

Series 2004-C2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

107

REMIC III

Statement Date:

ABN AMRO Acct: 721958.1

967.682533279

12.023896885

0.000000000

955.658636393

3.141742623

Fixed

0.00

0.000000000

3.89600000%

0.000000000

361849F23

A-1

61,000,000.00

59,028,634.53

733,457.71

0.00

58,295,176.82

191,646.30

997.692895955

0.857096566

0.000000000

996.835799389

4.228555014

Fixed

0.00

0.000000000

5.08600000%

0.000000000

361849G22

A-1A

106,963,000.00

106,716,225.23

91,677.62

0.00

106,624,547.61

452,298.93

1000.000000000

0.000000000

1000.000000000

3.966666698

Fixed

0.00

0.000000000

4.76000000%

0.000000000

361849F31

A-2

104,953,000.00

0.00

104,953,000.00

416,313.57

1000.000000000

0.000000000

1000.000000000

4.278333295

Fixed

0.00

0.000000000

5.13400000%

0.000000000

361849F49

A-3

86,536,000.00

0.00

86,536,000.00

370,229.85

1000.000000000

0.000000000

1000.000000000

4.417499988

5.301000000%

0.00

0.000000000

5.30100000%

0.000000000

361849F56

A-4

428,386,000.00

0.00

428,386,000.00

1,892,395.15

997.624442318

0.000000000

996.740748611

0.047743409

0.053898124%

0.00

0.000000000

0.05742852%

0.000000000

361849G30/U34158EL2

X-1

933,734,532.00

931,516,391.76

0.00

930,691,256.43

44,579.67

1000.000000000

0.000000000

1000.000000000

0.423152708

N/A

0.00

0.000000000

0.50778325%

0.000000000

361849G48/U34158EM0

X-2

902,770,000.00

0.00

902,770,000.00

382,009.57

1000.000000000

0.000000000

1000.000000000

4.511666796

5.414000000%

0.00

0.000000000

5.41400000%

0.000000000

361849F64

25,678,000.00

0.00

25,678,000.00

115,850.58

1000.000000000

0.000000000

1000.000000000

4.544166984

5.453000000%

0.00

0.000000000

5.45300000%

0.000000000

361849F72

10,504,000.00

0.00

10,504,000.00

47,731.93

1000.000000000

0.000000000

1000.000000000

4.593333333

5.512000000%

0.00

0.000000000

5.51200000%

0.000000000

361849F80

18,675,000.00

0.00

18,675,000.00

85,780.50

1000.000000000

0.000000000

1000.000000000

4.684166991

5.621000000%

0.00

0.000000000

5.62100000%

0.000000000

361849F98

12,839,000.00

0.00

12,839,000.00

60,140.02

1000.000000000

0.000000000

1000.000000000

4.684166984

5.621000000%

0.00

0.000000000

5.62100000%

0.000000000

361849G55/U34158EN8

10,504,000.00

0.00

10,504,000.00

49,202.49

1000.000000000

0.000000000

1000.000000000

4.684166612

5.621000000%

0.00

0.000000000

5.62100000%

0.000000000

361849G63/U34158EP3

15,173,000.00

0.00

15,173,000.00

71,072.86

1000.000000000

0.000000000

1000.000000000

4.728334999

5.671847693%

0.00

0.000000000

5.67400230%

0.000000000

361849G71/U34158EQ1

14,006,000.00

0.00

14,006,000.00

66,225.06

1000.000000000

0.000000000

1000.000000000

4.129167238

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849G89/U34158ER9

5,836,000.00

0.00

5,836,000.00

24,097.82

1000.000000000

0.000000000

1000.000000000

4.129167238

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849G97/U34158ES7

5,836,000.00

0.00

5,836,000.00

24,097.82

Page 2 of 32

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.750029%

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

GMAC Commercial Mortgage Securities, Inc.

Mortgage Pass-Through Certificates

Series 2004-C2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

107

REMIC III

Statement Date:

ABN AMRO Acct: 721958.1

1000.000000000

0.000000000

1000.000000000

4.129166845

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849H21/U34158ET5

4,669,000.00

0.00

4,669,000.00

19,279.08

1000.000000000

0.000000000

1000.000000000

4.129168809

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849H39/U34158EU2

2,334,000.00

0.00

2,334,000.00

9,637.48

1000.000000000

0.000000000

1000.000000000

4.129166191

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849H47/U34158EV0

3,502,000.00

0.00

3,502,000.00

14,460.34

1000.000000000

0.000000000

1000.000000000

4.129165953

4.955000000%

0.00

0.000000000

4.95500000%

0.000000000

361849H54/U34158EW8

3,501,000.00

0.00

3,501,000.00

14,456.21

1000.000000000

0.000000000

1000.000000000

4.125848980

4.955000000%

0.00

)

(42.60

)

(0.003317878

4.95500000%

0.000000000

361849H62/U34158EX6

12,839,532.00

0.00

12,839,532.00

52,973.97

0.000000000

0.00

0.000000000

N/A

0.000000000

361849J29

R-III

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

361849H88

R-I

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

361849H96

R-II

0.00

Total P&I Payment

0.00

)

(42.60

933,734,532.00

931,516,391.76

5,229,614.53

Total

930,691,256.43

825,135.33

0.00

4,404,479.20

Page 3 of 32

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.750029%

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

GMAC Commercial Mortgage Securities, Inc.

Mortgage Pass-Through Certificates

Series 2004-C2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

107

Grantor Trust

Statement Date:

ABN AMRO Acct: 721958.1

0.000000000

0.00

0.000000000

N/A

0.000000000

361849H70

0.00

Total P&I Payment

0.00

Total

0.00

Page 4 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

4,463,538.64

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

4,463,538.64

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances

Recoup of Prior Advances

Misc. Fees & Expenses

Total Unscheduled Fees & Expenses
Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding

Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Current Scheduled Principal
Advanced Scheduled Principal
Scheduled Principal
Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
Total Unscheduled Principal
Remittance Principal

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding
Plus Current Period
Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts

PPIS Reducing Scheduled
Interest

PPIS Reducing Servicing Fee
PPIS Due Certificate

0.00

0.00
0.00

)

(42.60

)

(42.60

4,406,264.60

)

(1,785.41

0.00
0.00
0.00

)

(1,785.41

825,135.33

0.00

825,135.33

0.00
0.00
0.00
0.00
0.00
0.00

825,135.33

5,231,399.93

5,229,614.53

931,516,392.16

825,135.33

0.00

0.00
0.00

0.00

930,691,256.83

2,012.65

7,041.00

0.00

57,231.43

0.00
0.00
0.00

57,231.43

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(57,231.43

4,404,479.20

Interest Not Advanced (

Current Period

)

0.00

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(7,041.00

)

(2,012.65

0.00

Advance Summary (Advance Made by Servicer)

Page 5 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Statement Date:

Cash Reconciliation Summary Group I Mortage Loan

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

3,961,140.33

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

3,961,140.33

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances

Recoup of Prior Advances

Misc. Fees & Expenses

Total Unscheduled Fees & Expenses
Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding

Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding
Plus Current Period
Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts

PPIS Reducing Scheduled
Interest

PPIS Reducing Servicing Fee
PPIS Due Certificate

0.00

0.00
0.00

0.00

3,910,281.38

)

(1,580.87

0.00
0.00
0.00

)

(1,580.87

733,457.71

0.00

733,457.71

0.00
0.00
0.00
0.00
0.00
0.00

733,457.71

4,643,739.09

4,642,158.22

824,799,573.33

733,457.71

0.00

0.00
0.00

0.00

824,066,115.62

0.00

50,858.95

0.00
0.00
0.00

50,858.95

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(50,858.95

3,908,700.51

Interest Not Advanced (

Current Period

)

0.00

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

0.00

0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

Page 6 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Statement Date:

Cash Reconciliation Summary Group II Mortgage Loan

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

502,398.31

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

502,398.31

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances

Recoup of Prior Advances

Misc. Fees & Expenses

Total Unscheduled Fees & Expenses
Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding

Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding
Plus Current Period
Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts

PPIS Reducing Scheduled
Interest

PPIS Reducing Servicing Fee
PPIS Due Certificate

0.00

0.00
0.00

)

(42.60

)

(42.60

495,983.22

)

(204.54

0.00
0.00
0.00

)

(204.54

91,677.62

0.00

91,677.62

0.00
0.00
0.00
0.00
0.00
0.00

91,677.62

587,660.84

587,456.30

106,716,818.83

91,677.62

0.00

0.00
0.00

0.00

106,625,141.21

2,012.65

7,041.00

0.00

6,372.48

0.00
0.00
0.00

6,372.48

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(6,372.48

495,778.68

Interest Not Advanced (

Current Period

)

0.00

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(7,041.00

)

(2,012.65

0.00

Advance Summary (Advance Made by Servicer)

Page 7 of 32

GMAC Commercial Mortgage Securities, Inc.

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Interest (2)

Payment

Amount

PPIS

Interest

Certificate

Accretion

Interest

Loss/Exp

Interest

Penalties

Proceeds (1)

Interest

Shortfalls

Certificate

Rate

Pass

Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

0.00

A-1

191,646.30

0.00

15.63%

15.68%

30/360

3.896000000%

0.00

A-1A

452,298.93

0.00

15.63%

15.68%

30/360

5.086000000%

0.00

A-2

416,313.57

0.00

15.63%

15.68%

30/360

4.760000000%

0.00

A-3

370,229.85

0.00

15.63%

15.68%

30/360

5.134000000%

0.00

A-4

1,892,395.15

0.00

15.63%

15.68%

30/360

5.301000000%

0.00

X-1

44,579.67

0.00

30/360

0.057428521%

0.00

X-2

382,009.57

0.00

30/360

0.507783253%

0.00

115,850.58

0.00

12.88%

12.92%

30/360

5.414000000%

0.00

47,731.93

0.00

11.75%

11.79%

30/360

5.453000000%

0.00

85,780.50

0.00

9.75%

9.78%

30/360

5.512000000%

0.00

60,140.02

0.00

8.38%

8.40%

30/360

5.621000000%

0.00

49,202.49

0.00

7.25%

7.27%

30/360

5.621000000%

0.00

71,072.86

0.00

5.63%

5.64%

30/360

5.621000000%

0.00

66,225.06

0.00

4.13%

4.14%

30/360

5.674002303%

0.00

24,097.82

0.00

3.50%

3.51%

30/360

4.955000000%

0.00

24,097.82

0.00

2.88%

30/360

4.955000000%

0.00

19,279.08

0.00

2.38%

30/360

4.955000000%

0.00

9,637.48

0.00

2.13%

30/360

4.955000000%

0.00

14,460.34

0.00

1.75%

1.76%

30/360

4.955000000%

0.00

14,456.21

0.00

1.38%

30/360

4.955000000%

0.00

53,016.57

53,577.59

52,973.97

603.62

0.00%

30/360

4.955000000%

)

(42.60

561.02

0.00

30/360

0.000000000%

0.00

4,404,521.80

4,405,082.82

4,404,479.20

603.62

)

(42.60

561.02

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 8 of 32

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(4) Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending balance of the class and (ii) the ending balance of all classes which are not subordinate to the class divided by (A).

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Interest Adjustments Summary

Statement Date:

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

42.60

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

42.60

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

0.00

0.00

Total Excess Allocated to the Bonds

)

(42.60

)

(42.60

Aggregate Interest Adjustment Allocated to the Bonds

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Page 9 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

R-I

361849H88

R-II

361849H96

A-1

361849F23

Aaa

AAA

A-1A

361849G22

Aaa

AAA

A-2

361849F31

Aaa

AAA

A-3

361849F49

Aaa

AAA

A-4

361849F56

Aaa

AAA

X-1

361849G30

Aaa

AAA

X-2

361849G48

Aaa

AAA

361849F64

Aa2

361849F72

Aa3

AA-

361849F80

361849F98

A-

361849G55

Baa1

BBB+

361849G63

Baa2

BBB

361849G71

Baa3

BBB-

361849G89

Ba1

BB+

361849G97

Ba2

361849H21

Ba3

BB-

361849H39

B+

361849H47

361849H54

B-

Page 10 of 32

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be
understood that this transmission will generally have been provided to LaSalle within 30 days of the payment date listed on this statement. Because ratings may have
changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on
this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

361849H62

361849H70

Page 11 of 32

NR - Designates that the class was not rated by the rating agency.

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

ABN AMRO Acct: 721958.1

0.00%

10-Dec-04

1.35%

0.16%

0.00%

10-Nov-04

1,451,614

0.00%

12-Oct-04

0.00%

10-Sep-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 12 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Group I Mortage Loan

ABN AMRO Acct: 721958.1

0.00%

10-Dec-04

0.00%

10-Nov-04

0.00%

12-Oct-04

0.00%

10-Sep-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 13 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Group II Mortgage Loan

ABN AMRO Acct: 721958.1

0.00%

10-Dec-04

6.67%

1.36%

0.00%

10-Nov-04

1,451,614

0.00%

12-Oct-04

0.00%

10-Sep-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 14 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 721958.1

Series 2004-C2

10-Dec-04

100.00%

930,691,257

99.67%

0.00%

107

333

5.75%

5.67%

10-Nov-04

100.00%

931,516,392

99.76%

0.00%

108

334

5.94%

5.86%

12-Oct-04

100.00%

932,220,360

99.84%

0.00%

109

335

5.75%

5.67%

10-Sep-04

100.00%

933,038,134

99.93%

0.00%

110

336

5.94%

5.86%

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 15 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Group I Mortage Loan

Amort

ABN AMRO Acct: 721958.1

Series 2004-C2

10-Dec-04

79.73%

824,066,116

88.25%

0.00%

108

330

5.76%

5.69%

10-Nov-04

79.73%

824,799,573

88.33%

0.00%

109

331

5.95%

5.87%

12-Oct-04

79.73%

825,425,187

88.40%

0.00%

110

332

5.76%

5.69%

10-Sep-04

79.73%

826,152,077

88.48%

0.00%

111

333

5.95%

5.87%

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 16 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Group II Mortgage Loan

Amort

ABN AMRO Acct: 721958.1

Series 2004-C2

10-Dec-04

20.27%

106,625,141

11.42%

0.00%

351

5.65%

5.58%

10-Nov-04

20.27%

106,716,819

11.43%

0.00%

352

5.81%

5.73%

12-Oct-04

20.27%

106,795,174

11.44%

0.00%

100

353

5.65%

5.58%

10-Sep-04

20.27%

106,886,056

11.45%

0.00%

101

354

5.81%

5.73%

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 17 of 32

GMAC Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 721958.1

Series 2004-C2

Mortgage Pass-Through Certificates

30-Nov-04

10-Jan-05

10-Nov-04

10-Dec-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Distribution of Mortgage Interest Rates

Distribution of Principal Balances

Distribution of Remaining Term (Balloon)

Distribution of Remaining Term (Fully Amortizing)

Page 18 of 32

Current Scheduled

Balance

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

2,436,217

0.26

116

7.08

0.00

0 to

1,000,000

7,782,676

0.84

115

6.62

0.00

1,000,000 to

2,000,000

25,319,041

2.72

109

5.84

0.00

2,000,000 to

3,000,000

17,532,702

1.88

100

5.94

0.00

3,000,000 to

4,000,000

26,592,139

2.86

109

5.92

0.00

4,000,000 to

5,000,000

11,171,525

1.20

115

6.36

0.00

5,000,000 to

6,000,000

38,226,447

4.11

5.92

0.00

6,000,000 to

7,000,000

30,718,717

3.30

5.96

0.00

7,000,000 to

8,000,000

33,736,275

3.62

119

5.96

0.00

8,000,000 to

9,000,000

0.00

9,000,000 to 10,000,000

246,658,996

26.50

5.70

0.00

10,000,000 to 20,000,000

24,828,095

2.67

6.00

0.00

20,000,000 to 30,000,000

66,526,689

7.15

110

6.01

0.00

30,000,000 to 40,000,000

99,565,557

10.70

111

5.58

0.00

40,000,000 to 50,000,000

0.00

50,000,000 to 60,000,000

129,700,390

13.94

115

6.18

0.00

60,000,000 to 70,000,000

0.00

70,000,000 to 80,000,000

169,895,790

18.25

113

5.17

0.00

80,000,000 &

Above

85,500,000

290,951

930,691,257

100.00%

Average Schedule Balance
Maximum Schedule Balance
Minimum Schedule Balance

12,576,909

Current Mortgage

Interest Rate

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

0.00

4.000%

4.500%

84,395,790

9.07

114

4.83

0.00

4.501%

5.000%

246,023,927

26.43

5.37

0.00

5.001%

5.500%

358,048,671

38.47

108

5.83

0.00

5.501%

6.000%

204,246,855

21.95

113

6.24

0.00

6.001%

6.500%

28,553,646

3.07

6.78

0.00

6.501%

7.000%

9,422,368

1.01

116

7.08

0.00

7.001%

7.500%

0.00

7.501%

Above

930,691,257

Minimum Mortgage Interest Rate
Maximum Mortgage Interest Rate

100.00%

4.830%
7.080%

Fully Amortizing

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

26,100,000

2.80

5.44

0.00

188,596,630

20.26

109

5.50

0.00

150

4,406,769

0.47

174

5.82

0.00

151

225

0.00

226

300

0.00

301

Above

174

219,103,398

Minimum Remaining Term

Maximum Remaining Term

23.54%

Balloon

Mortgage Loans

# of

Loans

Scheduled

Balance

% of

Balance

Weighted Average

Term Coupon PFY DSCR

45,700,833

4.91

5.35

0.00

657,356,873

70.63

111

5.86

0.00

120

8,530,152

0.92

136

5.59

0.00

121

180

0.00

181

240

0.00

241

300

0.00

301

360

0.00

361

420

0.00

421

& Above

136

711,587,858

Minimum Remaining Term

Maximum Remaining Term

76.46

GMAC Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 721958.1

Series 2004-C2

Mortgage Pass-Through Certificates

30-Nov-04

10-Jan-05

10-Nov-04

10-Dec-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Geographic Distribution

Distribution of DSCR (PFY)

Distribution of DSCR (Cutoff)

Page 19 of 32

Debt Service

Coverage Ratio

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

0.001 0.250

0.00

0.251 0.500

0.00

0.501 0.750

0.00

0.751 1.000

0.00

1.001 1.250

0.00

1.251 1.500

0.00

1.501 1.750

0.00

1.751 2.000

0.00

2.001 2.250

0.00

2.251 2.500

0.00

2.501 2.750

0.00

2.751 3.000

0.00

3.001 3.250

0.00

3.251 3.500

0.00

3.501 & Above

930,691,257

100.00

107

5.75

0.00

Unknown

0.000
0.000

930,691,257

100.00%

Minimum DSCR

Maximum DSCR

Debt Service

Coverage Ratio

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

0.000 0.250

0.00

0.251 0.500

0.00

0.501 0.750

0.00

0.751 1.000

212,019,645

22.78

105

5.90

0.00

1.001 1.250

406,838,502

43.71

108

5.88

0.00

1.251 1.500

103,640,745

11.14

102

5.82

0.00

1.501 1.750

116,734,286

12.54

106

5.13

0.00

1.751 2.000

91,458,079

9.83

112

5.52

0.00

2.001 2.250

0.00

2.251 2.500

0.00

2.501 2.750

0.00

2.751 3.000

0.00

3.001 3.250

0.00

3.251 3.500

0.00

3.501 & Above

2.080

1.160

930,691,257 100.00

Minimum DSCR

Maximum DSCR

Geographic

Location

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

New York

212,034,714

22.78

107

5.57

0.00

New Jersey

170,645,453

18.34

113

5.35

0.00

California

97,292,781

10.45

112

5.86

0.00

Ohio

77,850,669

8.36

115

6.52

0.00

Virginia

69,511,291

7.47

118

5.83

0.00

Florida

64,685,374

6.95

5.72

0.00

Texas

44,224,105

4.75

111

5.66

0.00

Arizona

31,528,986

3.39

5.60

0.00

Rhode Island

24,828,095

2.67

6.00

0.00

Louisiana

21,436,033

2.30

6.61

0.00

Pennsylvania

20,309,911

2.18

108

6.11

0.00

Michigan

20,008,425

2.15

115

5.88

0.00

Nevada

18,670,401

2.01

5.42

0.00

District of Columbia

17,342,690

1.86

115

6.01

0.00

Oklahoma

8,079,640

0.87

110

5.75

0.00

Tennessee

7,836,630

0.84

113

5.67

0.00

Massachusetts

6,891,409

0.74

5.69

0.00

Connecticut

6,861,586

0.74

5.98

0.00

Idaho

6,272,165

0.67

115

6.10

0.00

Georgia

2,441,166

0.26

115

6.10

0.00

Indiana

1,939,734

0.21

114

6.23

0.00

100.00

930,691,257

GMAC Commercial Mortgage Securities, Inc.

Mortgage Loan Characteristics

ABN AMRO Acct: 721958.1

Series 2004-C2

Mortgage Pass-Through Certificates

30-Nov-04

10-Jan-05

10-Nov-04

10-Dec-04

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Distribution of Loan Seasoning

Distribution of Property Types

Distribution of Year Loans Maturing

Distribution of Amortization Type

Page 20 of 32

Property Types

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

Retail

413,915,223

44.47

110

5.73

0.00

Office

234,470,319

25.19

108

5.60

0.00

Multifamily

102,585,141

11.02

5.63

0.00

Lodging

72,453,728

7.78

6.33

0.00

Mixed use

31,284,586

3.36

116

6.00

0.00

Mobile home park

27,123,644

2.91

115

5.58

0.00

Industrial

18,386,832

1.98

106

5.84

0.00

Other

16,694,871

1.79

107

6.09

0.00

Self storage

13,776,913

1.48

5.81

0.00

930,691,257

100.00%

Amortization Type

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

AmortizingBalloon

711,587,858

76.46

108

5.83

0.00

Full Amortizing

4,406,769

0.47

174

5.82

0.00

IO/ Amortizating

137,860,000

14.81

105

5.54

0.00

Other

76,836,630

8.26

5.40

0.00

930,691,257

100.00%

Number of Months

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

617,771,199

66.38

107

0.00

5.84

277,677,955

29.84

107

0.00

5.50

35,242,103

3.79

105

0.00

6.02

0.00

930,691,257

100.00%

Year

# of

Loans

Scheduled

Balance

% of

Balance

WAMM WAC PFY DSCR

0.00

2004

0.00

2005

0.00

2006

0.00

2007

0.00

2008

71,800,833

7.71

5.38

0.00

2009

0.00

2010

67,237,794

7.22

6.04

0.00

2011

0.00

2012

35,242,103

3.79

105

6.02

0.00

2013

743,473,605

79.88

114

5.75

0.00

2014

12,936,921

1.39

149

5.67

0.00

2015 & Greater

100.00

930,691,257

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Delinquent Loan Detail

Disclosure

Control #

Paid

Thru

Date

Current P&I

Advance

Outstanding

P&I

Advances**

Out. Property

Protection

Advances

Loan

Status

Code (1)

Special

Servicer

Transfer Date

Foreclosure

Date

Bankruptcy

Date

REO

Date

Statement Date:

Total

Page 21 of 32

A. In Grace Period

1. Delinq. 1 month

2. Delinq. 2 months

3. Delinquent 3 + months

4. Performing Matured Balloon

** Outstanding P&I Advances include the current period P&I Advances and may include Servicer and Trust Advances.

7. Foreclosure

9. REO

B. Late Payment but < 1 month delinq.

5. Non Performing Matured Balloon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Historical Collateral Level Prepayment Report

Disclosure

Control #

Payoff
Period

Initial

Balance

Type

Payoff

Amount

Penalty

Amount

Prepayment

Date

Maturity

Date

Property

Type

Geographic

Location

Statement Date:

Cumulative

Current

Page 22 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

5.49673%

1-Apr-14

GMAC4C2A

Office

0.00

85,500,000

391,642

4.83000%

8-Jun-14

GMAC4C2A

Retail

0.00

84,395,790

447,508

6.45000%

1-Jul-14

GMAC4C2A

Retail

0.00

68,719,252

433,861

5.86900%

1-Aug-14

GMAC4C2A

Retail

0.00

60,981,138

358,864

5.36252%

1-Mar-14

GMAC4C2A

Office

0.00

50,000,000

223,439

5.79000%

1-Mar-14

GMAC4C2A

Office

0.00

49,565,557

293,058

6.02000%

1-Sep-13

GMAC4C2A

Retail

0.00

35,242,103

214,799

6.00000%

1-Aug-14

GMAC4C2A

Mixed use

0.00

31,284,586

188,259

6.00000%

1-May-11

GMAC4C2A

Lodging

0.00

24,828,095

161,543

5.87000%

1-Aug-14

GMAC4C2A

Retail

0.00

19,027,743

112,923

5.40000%

1-Jun-09

GMAC4C2A

Retail

0.00

19,000,000

85,500

5.78000%

1-Jul-14

GMAC4C2B

Multifamily

0.00

16,799,759

98,829

5.08000%

1-May-14

GMAC4C2A

Retail

0.00

16,767,810

91,551

5.75000%

1-Jul-14

GMAC4C2B

Multifamily

0.00

15,789,072

92,584

6.77000%

1-Jul-11

GMAC4C2A

Lodging

0.00

15,388,113

107,287

5.43000%

1-Aug-11

GMAC4C2A

Retail

0.00

15,200,000

68,780

5.11000%

1-Jul-09

GMAC4C2B

Multifamily

0.00

15,066,572

82,350

6.19000%

5-Aug-14

GMAC4C2A

Other

0.00

14,419,035

88,530

6.05000%

1-Jul-14

GMAC4C2A

Retail

0.00

14,270,927

86,407

5.09000%

1-Apr-09

GMAC4C2A

Office

0.00

13,526,832

74,029

5.50000%

1-Aug-14

GMAC4C2B

Multifamily

0.00

13,230,000

61,480

6.22000%

1-Jul-14

GMAC4C2A

Lodging

0.00

13,113,907

86,832

5.54000%

1-Jul-14

GMAC4C2A

Mobile home park

0.00

12,138,813

69,577

Page 23 of 32

* NOI and DSCR, if available and reportable under the terms of the trust agreement, are based on information obtained from the related borrower, and no other party to the agreement shall be held liable for the accuracy or methodology used to

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

5.99000%

1-Jun-14

GMAC4C2A

Office

0.00

11,933,341

71,869

5.54000%

1-Jul-14

GMAC4C2A

Mobile home park

0.00

10,944,831

62,733

5.75000%

1-Aug-14

GMAC4C2A

Industrial

0.00

10,042,240

63,540

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

2,592,568

17,438

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

1,924,483

12,944

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

1,371,057

9,479

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

1,098,041

7,591

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

569,945

3,940

7.08000%

1-Aug-14

GMAC4C2A

Office

0.00

503,186

3,479

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

392,585

2,714

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

353,725

2,445

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

325,825

2,253

7.08000%

1-Aug-14

GMAC4C2A

Retail

0.00

290,951

2,011

6.26000%

1-Jul-14

GMAC4C2A

Retail

0.00

8,961,693

55,473

5.59000%

1-Apr-16

GMAC4C2A

Retail

0.00

8,530,152

49,317

6.23000%

1-Jun-14

GMAC4C2A

Office

0.00

8,164,790

50,431

5.75000%

1-Feb-14

GMAC4C2A

Retail

0.00

8,079,640

51,587

6.69000%

1-Jul-14

GMAC4C2A

Lodging

0.00

7,952,087

54,970

5.67000%

1-May-14

GMAC4C2B

Multifamily

0.00

7,836,630

46,964

5.89000%

1-May-14

GMAC4C2A

Retail

0.00

7,830,000

38,966

5.55000%

1-Apr-09

GMAC4C2B

Multifamily

0.00

7,100,000

32,838

5.69000%

1-Jul-09

GMAC4C2B

Multifamily

0.00

6,891,409

40,149

5.98000%

1-Jun-11

GMAC4C2A

Retail

0.00

6,861,586

41,280

Page 24 of 32

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.10000%

1-Jul-14

GMAC4C2A

Office

0.00

6,272,165

38,178

5.42000%

1-Mar-14

GMAC4C2A

Retail

0.00

6,086,137

34,577

6.14000%

1-Jun-14

GMAC4C2A

Retail

0.00

6,067,230

37,123

6.22000%

1-Jun-14

GMAC4C2B

Multifamily

0.00

6,047,920

37,317

5.83000%

1-Jul-14

GMAC4C2A

Lodging

0.00

5,958,079

38,037

6.97000%

1-Jun-14

GMAC4C2A

Lodging

0.00

5,213,446

37,006

5.91000%

1-Jul-11

GMAC4C2A

Industrial

0.00

4,960,000

24,428

6.05000%

1-Jul-14

GMAC4C2A

Office

0.00

4,629,216

28,029

5.82000%

1-Jun-19

GMAC4C2A

Retail

0.00

4,406,769

37,537

5.93000%

1-Jun-14

GMAC4C2A

Office

0.00

4,375,232

26,183

5.98000%

1-Jul-09

GMAC4C2A

Self storage

0.00

4,180,923

25,127

5.80000%

1-Aug-14

GMAC4C2B

Mobile home park

0.00

4,040,000

19,798

5.85000%

1-Jan-09

GMAC4C2A

Self storage

0.00

3,759,261

22,418

6.10000%

1-Jun-14

GMAC4C2A

Retail

0.00

3,709,782

22,604

5.40000%

1-Apr-14

GMAC4C2A

Self storage

0.00

3,470,401

19,654

5.99000%

1-Jul-14

GMAC4C2A

Industrial

0.00

3,384,592

20,363

6.40000%

1-Jun-14

GMAC4C2A

Retail

0.00

3,208,666

20,173

5.11000%

1-May-14

GMAC4C2A

Retail

0.00

2,976,683

16,307

5.14000%

1-Apr-14

GMAC4C2B

Multifamily

0.00

2,923,656

16,090

5.64000%

1-Jun-14

GMAC4C2B

Multifamily

0.00

2,584,408

14,992

5.78000%

1-Jun-14

GMAC4C2B

Multifamily

0.00

2,485,456

14,637

6.10000%

1-Jul-14

GMAC4C2B

Multifamily

0.00

2,441,166

14,859

6.16000%

1-Aug-14

GMAC4C2A

Retail

0.00

2,391,489

14,637

Page 25 of 32

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.03000%

1-Aug-14

GMAC4C2A

Self storage

0.00

2,366,329

14,285

6.14000%

1-Jun-14

GMAC4C2A

Retail

0.00

2,281,450

15,016

5.46000%

1-May-09

GMAC4C2A

Other

0.00

2,275,837

14,069

6.23000%

1-Jun-14

GMAC4C2B

Multifamily

0.00

1,939,734

11,981

5.75000%

1-May-14

GMAC4C2B

Multifamily

0.00

1,449,359

9,210

930,691,257

5,288,674

Page 26 of 32

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Specially Serviced (Part I) ~ Loan Detail (End of Period)

Disclosure

Control #

Servicing

Xfer Date

Balance

Note
Rate

Maturity

Date

Remaining

Property

Type

Geo.

Location

NOI

DSCR

NOI
Date

Schedule

Actual

Life

Statement Date:

Loan

Status

Code(1)

Page 27 of 32

(1) Legend:

A. P&I Adv - in Grace Period
B. P&I Adv - < one month delinq

1. P&I Adv - delinquent 1 month
2. P&I Adv - delinquent 2 months

3. P&I Adv - delinquent 3+ months
4. Mat. Balloon/Assumed P&I

7. Foreclosure

9. REO

5. Non Performing Mat. Balloon

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Specially Serviced Loan Detail (Part II) ~ Servicer Comments (End of Period)

Disclosure

Control #

Resolution

Strategy

Comments

Statement Date:

Page 28 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

Historical Collateral Level REO Report

Property

Type

Statement Date:

State

Actual

Balance

Scheduled

Balance

Recent

Appraisal

Value

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Realized

Loss

Disclosure

Control #

REO

Date

City

Appraisal

Date

ABN AMRO Acct: 721958.1

Page 29 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Modified Loan Detail

Disclosure

Control #

Modification

Date

Cutoff

Maturity

Date

Modification

Description

Modified

Maturity

Date

Statement Date:

Page 30 of 32

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation

Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total
Cumulative

Page 31 of 32

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

GMAC Commercial Mortgage Securities, Inc.

Payment Date:
Prior Payment:
Next Payment:
Record Date:

10-Dec-04
10-Dec-04

10-Nov-04

10-Jan-05

30-Nov-04

Mortgage Pass-Through Certificates

Series 2004-C2

ABN AMRO Acct: 721958.1

Appraisal Reduction Detail

Disclosure

Control#

Appraisal
Red. Date

Scheduled

Balance

ASER

Note
Rate

Maturity

Date

Property

Type

Geographic

Location

Appraisal

Value Date

DSCR

Statement Date:

Remaining Term

Life

ARA

Amount

Current P&I

Advance

Page 32 of 32

GMAC COMMERCIAL MORTGAGE SECURITIES INC 8-K