GMAC Commercial Mortgage Corporation Arranges $23 Million in Refinancing for a California Multifamily Property.Business Editors/Real Estate Writers SAN FRANCISCO--(BUSINESS WIRE)--April 23, 2004 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 $23,000,000 in fixed-rate refinancing Refinancing An extension and/or increase in amount of existing debt. for a Daly City Daly City, city (1990 pop. 92,311), San Mateo co., W Calif., a suburb of San Francisco; inc. 1911. Daly City is primarily residential, its population having grown significantly since the 1970s. , Calif., multifamily property. Skyline Heights Apartments, located at 960 St. Francis Blvd., consists of 256 garden-style units in twelve two- and three-story buildings built in 1975 and renovated in 1997. The property sits on 10.09 acres and contains 155,752 square feet of building space. GMACCM Senior Vice President Mitchell R. Thurston and Vice President Andrew J. Ahlers arranged the transaction through Met Life. Skyline Heights Apartments LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control received the funding. 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. Thurston, "GMACCM had an exclusive to finance this property. After surveying the market, we found that the life insurance company financing execution provided the most efficient early rate lock and the best economic loan terms --pricing, loan proceeds and prepayment flexibility -- for this repeat client." GMAC Commercial Mortgage Corporation (GMACCM), a wholly-owned subsidiary of GMAC Commercial Holding Corp., is a premier 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. 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 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, 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 $246 billion and provides a variety of financing products and services including permanent, interim, mezzanine and construction lending as well as equity capital for commercial real estate. GMACCM has specialized lending units focused on healthcare, hospitality and franchise and asset backed lending. News releases and other information about GMACCM, its products and services are available at www.gmaccm.com. GMAC Commercial Mortgage Corporation (GMACCM) makes California loans pursuant to a California Department of Corporations California Finance Lender License. GMACCM brokers California loans to other lenders pursuant to its CA Dept. of Real Estate Broker License #0039810. Property photo available upon request. |
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