GMAC Commercial Holding Capital Corp. Completes a $52.1 Million Sale/Lease Back Transaction for Portfolio of Drug Stores.HORSHAM, Pa. -- GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Holding Capital Corp. (Capital Corp.) recently purchased of a portfolio of 20 free-standing drug stores for $52,100,000. Capital Corp.'s Net Lease Acquisition Group negotiated the sale/leaseback transaction with an affiliate of Kerr Drug, a Raleigh, N.C.-based regional chain of drug stores. Net Lease Acquisition Group Vice Presidents Patrick Pearson and Gregg Fields structured 20-year, triple net leases for each of the stores. "The Net Lease Acquisition Group looks for sale/leaseback opportunities nationwide," said Pearson. "In sale/leasebacks, it is very important that the properties are occupied by thriving businesses, and we were very impressed with the strength of Kerr Drug's operations. This transaction will enable Kerr Drug to continue to grow its business and better serve its customers." Eighteen of the stores are in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and the remaining two are located in South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . All of the properties are fairly new--the oldest was built between seven and eight years ago--and the majority are self-developed. GMAC Commercial Mortgage (GMACCM) Vice President Jere Lucey, of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. office, arranged approximately 75 percent loan-to-value first mortgage financing for the transaction through GMACCM's Proprietary Lending Group. GMAC Commercial Holding Capital Markets Corp., is a subsidiary of GMAC Commercial Holding Capital Corp. (Capital Corp.). Capital Corp., based in Denver, Colo., is a subsidiary of GMAC Commercial Holding Corp. (GMACCH) which is based in Horsham, Pa., and is a leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. resource for the global commercial real estate industry. GMACCH, through its varied business units and subsidiaries, has extensive operations in lending, investment advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal for debt and equity real estate, non-performing loan and asset management, loan servicing, affordable housing finance and real estate investment banking. Press releases and other information about GMAC Commercial Holding Capital Corp., its family of companies, products and services are available at www.gmacchcapital.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion