GMAC Commercial Mortgage Corporation Provides $128 Million in Acquisition Financing for a Virginia Multifamily Property.ARLINGTON, Va. -- 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 provided $128,000,000 in acquisition bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. for an Arlington, Va., multifamily property. Clarendon 1021, located at 1021 N. Garfield Street, consists of 419 condominium units and 504 underground parking spaces. Common area amenities include a fully equipped fitness center, game room, cyber cafe with high-speed Internet See broadband. connections and a rooftop heated swimming pool and spa. GMACCM Branch Manager and Senior Vice President Richard Bopp, Vice President Fabrice Vasques and Vice President Jason Roach, of the Washington, D.C., 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 through GMACCM's Proprietary Lending Group. Carlyle-FSP Clarendon Associated, LP 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. Bopp, "GMACCM won this business because we provided a highly leveraged loan and very aggressive pricing due to the strong sponsorship and the quality and location of the property." GMAC Commercial Mortgage Corporation (GMACCM), 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 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, 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 $257 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 construction lending. News releases and other information about GMACCM, its products and services are available at www.gmaccm.com. |
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