GMAC Commercial Mortgage Provides $32.5 Million in Financing for Puerto Rico Retail Property.Business Editors BARCELONETA, Puerto Rico--(BUSINESS WIRE)--Jan. 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 $32,500,000 in floating-rate interim acquisition financing for a Barceloneta, Puerto Rico Barceloneta is a municipality in Puerto Rico and is located in the north region, bordering the Atlantic Ocean, north of Florida, east of Arecibo and west of Manati. Barceloneta is spread over 3 wards and Barceloneta Pueblo (The downtown area and the administrative center of the retail center. The Prime Outlets of Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. is located 35 miles west of San Juan San Juan, city, Argentina San Juan (săn wän, Span. sän hwän), city (1991 pop. 353,476), capital of San Juan prov., W Argentina. It is a commercial and industrial center in an agricultural region. and is comprised of a 176,327 square feet outlet center and an 83,000 square feet out-parcel. The outlet center is leased to approximately 50 tenants, including industry leaders such as Gap, Tommy Hilfiger, Polo Ralph Lauren Polo Ralph Lauren (NYSE: RL) is American fashion designer Ralph Lauren's luxury lifestyle company. Polo Ralph Lauren specializes in high-end casual/semi-formal wear for men and women, as well as accessories, fragrance, and housewares. , Liz Clairborne, Brooks Brothers, Timberland, Levi's and Reebok Ree´bok` n. 1. (Zool.) The peele. . The out-parcel has five tenants--Ponderosa Restaurant, Banco Popular Bank, Fast Lane Lube and Wash, Caribbean Cinemas and Farmacias El Amal Farmacias El Amal, is regional pharmacy chain operating throughout Puerto Rico. It operates more than 60 pharmacies across Puerto Rico. The chain is privately held and was founded in 1973. . GMACCM's Senior Vice President John D. Motzel of the Red Bank, N.J. retail loan origination office arranged the transaction. GMAC Commercial Mortgage Corporation (GMACCM), a wholly-owned subsidiary 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 approaching $160 billion and provides a variety of financing products and services including permanent, interim, mezzanine and construction lending as well as equity capital. GMACCM has specialized lending units focused on healthcare, hospitality and franchise and equipment 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