GMAC Commercial Mortgage Arranges Debt and Equity Package for Richmond, Va., Office Park.Business Editors RICHMOND, Va.--(BUSINESS WIRE)--Aug. 26, 2003 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 a debt and equity package for the acquisition of the Forest Office Park in Richmond, Va. GMACCM's Intermediate Finance Group provided $33 million in debt for the transaction, and through its affiliate, GMAC Institutional Advisors (GIA Noun 1. GIA - a terrorist organization of Islamic extremists whose violent activities began in 1992; aims to overthrow the secular Algerian regime and replace it with an Islamic state; "the GIA has embarked on a terrorist campaign of civilian massacres" ), the company arranged an equity investment of more than $10.5 million. GMACCM Vice President John C. Richards of the Virginia Beach Virginia Beach, resort city (1990 pop. 393,069), independent and in no county, SE Va., on the Atlantic coast; inc. 1906. In 1963, Princess Anne co. and the former small town of Virginia Beach were merged, giving the present city an area of 302 sq mi (782 sq km). , Va., 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 the transaction for Forest Office Park Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Richards, "Because of our ability to offer both debt and equity solutions to the borrower, GMACCM was able to arrange 96 percent of the capital structure in this acquisition. This is a unique property located in an in-fill location in the exclusive west end of Richmond, and this transaction is another demonstration of GMACCM's ability to provide multiple solutions from a single source." The 19-building Class B office park consists of one, two and four-story structures, built between 1973 and 1981. The park covers 54.11 acres and has 709,747 square feet of building space. GMAC Institutional Advisors LLC is a SEC-registered investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and specializing in commercial real estate equity and debt investment and 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 GMACCM. GMACCM, a wholly owned subsidiary of GMAC Commercial Holding Corp., is a premier financial services firm with extensive funding sources that, coupled with a broad menu of innovative financing programs, serve the needs of borrowers of commercial real estate debt as well as the providers of such capital. GMACCM is an industry leader in loan origination, servicing, asset management, investment management, and technology services. The diverse lending and servicing specialist and its affiliates have more than 100 offices worldwide. GMACCM has a servicing portfolio of more than $172 billion and provides a variety of financing products and services including permanent, interim, mezzanine, and construction lending as well as equity capital. GMACCM has specialized lending units focused on healthcare, hospitality, golf course and franchise and equipment lending. News releases and other information about GMACCM, its products and services are available at www.gmaccm.com. Property photo available upon request. |
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