GMAC Commercial Mortgage Provides $140 Million in Refinancing for Medical Office Building Portfolio.Business Editors RED BANK, N.J.--(BUSINESS WIRE)--Dec. 10, 2003 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 approximately $140,000,000 in refinancing Refinancing An extension and/or increase in amount of existing debt. for a portfolio of 17 medical office buildings in Florida, California, Texas and New Jersey. Robert M. Keating, senior vice president/managing director of GMACCM's Red Bank 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. Keating commented, "GMACCM's expertise in analyzing the complex rental incomes Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time of medical office buildings was a key factor in our winning this transaction. GMACCM provided financing for acquisition of the portfolio three years ago. The opportunity to move a substantial portion of the loan amount to long-term, fixed-rate financing was very attractive to the borrower given the current interest rate environment." 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 $252 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. 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 equipment lending. GMAC Commercial Mortgage Corporation (GMACCM) makes California loans pursuant to a California Department of Corporations California Finance Lender License. GMACCM brokers California loans to other lenders pursuant to its CA Dept. of Real Estate Broker License #0039810. News releases and other information about GMACCM, its products and services are available at www.gmaccm.com. |
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