GMAC Commercial Mortgage Arranges $140 Million Financing for a Class A Multifamily Portfolio.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--June 21, 2001 The Chicago and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. offices of 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 Corporation teamed up to originate fixed-rate, permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. in the amount of $140 million for a seven-property multifamily portfolio on behalf of AMLI AMLI Association of Medical Laboratory Immunologists Residential Properties Trust ("AMLI"). GMACCM originated these loans and worked closely with Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. . The portfolio properties are located in Georgia, Indiana, Texas and Colorado. They have a total of 2,602 units and approximately 2.4 million total square-feet. Consistent with AMLI's strategy, the properties are among the highest quality projects in their respective marketplaces. The loans were cross-collateralized and structured with several favorable terms including the substitution of collateral, release provisions and a very competitive market rate. John Oharenko, Senior Vice President and Matt Ewig, Senior Real Estate Analyst, of the Chicago GMACCM office, and Jere Lucey, Vice President, 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 GMACCM office originated the debt on behalf of Freddie Mac. GMAC Commercial Mortgage is the leading U.S. financial solutions provider servicing commercial restate borrowers and investors seeking relationship-based advice and consultation. GMACCM is an industry leader in loan origination, 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 50 offices nationwide. GMACCM has a servicing portfolio exceeding $104 billion, and provides a variety of financing products and services including permanent, interim, and construction lending, with specialized lending units focused on healthcare and hospitality as well as e-commerce offerings through Internet commercial mortgage lending. Press releases and other information about GMAC Commercial Mortgage and its products and services are available at http://www.gmaccm.com on the Internet. |
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