GMAC Commercial Mortgage Corporation Provides $52 Million in Refinancing for a Portfolio of Retail Properties in New York.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- 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 $52,000,000 in fixed-rate refinancing for a portfolio of retail properties located in New York, N.Y. The retail portfolio consists of seven properties, six of which are located throughout the Borough of Manhattan; the seventh is located in the Borough of Queens. The portfolio consists of condominium interests collectively totaling 68,431 square-feet of grade-level retail and second-floor professional office units. GMACCM Vice President Irwin Boris, of the New York 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. team, arranged the transaction through the company's Proprietary Lending Group. MacArthur Properties 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. Boris, "The borrower's counsel had worked with other clients who had positive experiences with GMACCM and referred them to us for a deal structure and terms to meet their specific needs. We provided a 15-year, fixed-rate loan Fixed-rate loan A loan whose rate is fixed for the life of the loan. and offered better terms than our competitors. Equally important, we worked hard to live up to our reputation for superior customer service by being attentive and accessible to our clients throughout the process." 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. GMAC Commercial Mortgage Corporation is a licensed New York Real Estate Broker. |
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