GMAC Commercial Mortgage Corporation Provides $30 Million in Refinancing for a Minnesota Hotel.MINNEAPOLIS -- 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 $30,000,000 in interim, floating-rate refinancing Refinancing An extension and/or increase in amount of existing debt. for a Minnesota hotel. The Grand Hotel, located at 615 Second Avenue South, sits in the heart of downtown Minneapolis. This full-service, 140-room hotel stands 16 stories high and is the home of the Minneapolis Life Time Athletic Club. Other amenities at this urban resort include a health club, meeting space and restaurant/bar. GMACCM's Hospitality Industry Division arranged and underwrote the transaction, and 679 East Third Street Investors Company and Columbia Park
Columbia Park was a baseball stadium that formerly stood in Philadelphia, Pennsylvania. Business Center Corporation received the funding. 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 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 $253 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. Photo available upon request. |
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