GMAC Commercial Mortgage Corporation Provides a $65 Million Permanent Financing Package for Portfolio of Virginia Retail Properties.FREDERICKSBURG, 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 $65,000,000 in permanent, fixed-rate financing for a portfolio of retail properties primarily located in Fredericksburg, Va., with one property in Columbia, Md. GMACCM Vice President David M. Fishler, of the 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 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. Central Park 1200, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and other separate borrowing entities that are all affiliates of Kimco, a New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange ) listed REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , received the funding. This transaction is GMACCM's third loan with Kimco, which is recognized as a prominent national owner of retail shopping centers throughout the country. Proceeds of the loan were used to repay a credit facility Kimco used to acquire a portfolio of retail properties. This group of properties represented 45 standalone properties with 25 of the stores located at Central Park Shopping Center in Fredericksburg, Va. Tenants include Circuit City, Applebee's, Chick-Fil-A, Chuck E. Cheese and other national retailers According to Fishler, "GMACCM offered competitive, fixed-rate terms on this multiple property portfolio and closed the loan within 60 days of the application signing. What's more, we successfully underwrote and closed the loan on 45 separate properties within the agreed upon timeframe, under the exact terms specified in the initial application. The ground leases and fee mortgages on the 45 individual standalone assets served as collateral." 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 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 $263 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. Property photo available upon request. GMAC Commercial Mortgage Corporation is a licensed New York Real Estate Broker. |
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