GMAC Commercial Mortgage Arranges $32.5 Million Permanent Financing for Four Texas Multifamily Complexes.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--Aug. 6, 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 Corp. (GMACCM) has arranged $32,500,000 in 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. for four Houston apartment complexes. The Winrock Houston Portfolio consists of the Barcelona Apartments, Westgate Apartments, Briarwood bri·ar·wood n. Wood from the root of the briar. Noun 1. briarwood - wood from the hard woody root of the briar Erica arborea; used to make tobacco pipes brier-wood, brierwood Apartments, and Briarwest Apartments. Each building is eight stories. Winrock-Houston Associates LP received the funding with a 20-year amortization. GMACCM Senior Vice President Allan Dannatt, of the Houston retail production office, arranged the transaction through IDS Life Insurance Company. 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 $108 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. 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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