GMAC Commercial Mortgage Corporation Provides $30,400,000 in Construction Financing for a Newbury Street Condo Conversion Project.BOSTON -- 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 $30,400,000 in construction financing for a condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. conversion project at 360 Newbury St. in Boston, Mass. The property is currently an eight-story retail/office building containing 127,903 square-feet. The retail portion comprises three stories occupied under a long-term lease by a Virgin Megastore. The five stories above the Virgin Megastore will be converted from office space to residential condominiums. GMACCM Senior Vice President Bill Kitley of the Red Bank, N.J., 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, and Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Real Estate Funds, in joint venture with T.H. Niles Group received the
funding. Kitley commented, "For this transaction, we provided
competitive pricing on a non-recourse basis for a long time client of
the company and this office."
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, 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 $240 billion and provides a variety of financing products and services including permanent, interim, mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. and construction lending as well as equity capital for commercial real estate. GMACCM has specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. 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. Property photo available upon request. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion