GMAC Commercial Mortgage Arranges $16.2 Million in Financing for Two Missouri Office Properties.HORSHAM, Pa.--(BUSINESS WIRE)--Dec. 7, 1999-- 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 (GMACCM) has arranged $16,275,000 in financing for two Missouri office properties. The 40 Corporate Center in Town and Country, Missouri Town and Country is a city in west St. Louis County, Missouri, United States. The population was 10,894 at the 2000 census. Town and Country has the highest median household income of any city in Missouri with population over 10,000 and also has one of the highest median incomes , received $8,850,000 in a fixed rate permanent loan with a 30-year amortization. The center has a total of 77,600 square feet. The Clayton Heritage Center in Clayton, Missouri Clayton is the county seat of St. Louis County, Missouri, part of the Greater St. Louis metropolitan area. The population was 12,825 at the 2000 census. The city was organized in 1877 and is named after Ralph Clayton, who donated the land for the courthouse. received $7,425,000 in a permanent fixed-rate loan Fixed-rate loan A loan whose rate is fixed for the life of the loan. with a 30-year amortization. The center has 62,800 square feet. GMACCM Vice President Terry Boyle of the St. Louis office arranged both transactions. GMAC Commercial Mortgage, based in Horsham, PA is 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. It is the nation's leading one-stop financial resource in the commercial mortgage banking industry. The diverse lending and servicing specialist has more than 50 offices nationwide. GMACCM has a servicing portfolio of over $74 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 a small loan division. News 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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