GMAC Commercial Mortgage Acquires Carey Kramer - North Florida.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--Aug. 23, 2001 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 Mortgage (GMACCM) announced today it has acquired the assets of Tampa-based Carey Kramer Company - North Florida - one of the state's largest, full-service commercial real estate 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. firms. Terms of the acquisition were not disclosed. The transaction combines GMAC Commercial Mortgage's strong presence in northeastern and southern Florida with Carey-Kramer's prominence in the western and central part of the state. The transaction positions GMAC Commercial Mortgage as one of the leading commercial real estate mortgage providers in Florida. GMAC Commercial Mortgage Senior Vice President and Regional Manager Al Moczul will assume responsibility for all of the recently combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
"The acquisition reflects GMACCM's determination and capacity to offer commercial real estate developers and investors the widest array of financial services solutions. Carey-Kramer's existing clients will be able to access an entirely new range of high-value products and services," said Moczul. "Carey-Kramer is a strong business extension for GMACCM. Carey-Kramer principals John Kramer, T.J. Ownby, H. McCord Fraser and Marc T. Summer bring a wealth of knowledge and experience to our Florida operations. They also bring to GMACCM solid correspondent relationships with a number of life insurance companies, including American General, Lincoln National Life and Teachers Insurance and Annuity Association," said Moczul. "Furthermore, their offices in Tampa and Orlando provide strong synergies with GMACCM's existing offices in Jacksonville, Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Miami, Orlando and Tampa. All in all, this is a very strategic alliance -- one that will provide expanded capital resources, solid growth and enhanced service Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; to our combined customers throughout Florida. In Tampa, the Carey-Kramer team will be joining forces with GMACCM Vice President Russ Callahan." Employee-owned Carey Kramer, founded in 1986, employs eleven people at its two offices. It originates about $300 million in new loans per year and, at present, has a servicing portfolio of $600 million. GMACCM, in 2000, originated $15 billion in commercial mortgage loans. "We are excited and pleased with the opportunity to become part of the GMAC Commercial Mortgage family. We believe this transaction greatly serves the best interests of our customer and employees," said John Kramer, a Principal of Carey-Kramer. GMAC Commercial Mortgage, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GMAC Commercial Holding Corp., is the leading U.S. financial solutions provider servicing commercial real estate borrowers and investors seeking relationship-based advice and consultation. GMACCM is an industry leader in 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. , servicing, asset management and securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of commercial mortgages. The diverse lending and servicing specialist has more than 60 offices nationwide. GMACCM has a servicing portfolio exceeding $110 billion, and provides a variety of financing products and services including permanent, interim, and construction lending, with specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. lending units focused on healthcare and hospitality as well as e-commerce offerings through Internet commercial mortgage lending. |
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