GMAC Institutional Advisors and Trimarchi Management Co. Form Joint Venture to Acquire Irving, Texas Multifamily Portfolio.IRVING, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to -- 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 Institutional Advisors announced today the acquisition of a multifamily portfolio comprised of three apartment communities in the prestigious, masterplanned community of Las Colinas Las Colinas is a developed area in the Dallas suburb of Irving, Texas. Due to its central location between Dallas and Fort Worth and its proximity to DFW Airport, Las Colinas has been a viable place in the Metroplex for corporate and business relocation. , in Irving, Texas. The portfolio includes Jefferson Ridge, Jefferson Park Jefferson Park may refer to:
GMAC Commercial Mortgage Corporation (GMACCM) provided three separate acquisition financing loans totaling $75,250,000 to the partnership. Michael Bryant There have been several well-known people named Michael Bryant, including:
--Jefferson Ridge Apartments - Built in 1987, the property contains 410 apartment units in 21, three-story buildings situated on 17.5 acres. --Jefferson Park Apartments - Built in 1985, the property contains 420 apartment units in 23, three-story buildings situated on 16.8 acres. --Chaparral Creek Apartments - Built in 1980, the property contains 533 apartment units in 29, three-story buildings situated on 33.1 acres. The properties are located less than 15 minutes from the Dallas central business district and 30 minutes from downtown Forth Worth. Additionally, the properties are only five minutes from the Dallas/Fort Worth International Airport. Robert Fabiszewski, executive vice president and managing director of equity real estate for GMAC Institutional Advisors, said, "This acquisition shows the power of our affiliation with the local market offices of GMAC Commercial Mortgage Corp. Having offices in every major market enables us to weigh relative risks and returns of many alternatives before selecting an investment. In this case we were able to uncover a solid investment that has upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar through hands-on leasing and focused management. We use every advantage to find and quickly seize opportunities in a very difficult acquisitions market." GMAC Institutional Advisors has approximately $13.9 billion (as of March 31, 2005) in real estate and mortgage related investments under management and supervision for pension funds, financial companies, endowments, foundations, offshore investors and high net worth clients. A subsidiary of GMAC Commercial Mortgage, the firm invests in equity real estate, commercial mortgages, CMBS CMBS See: Commercial Mortgage Backed Securities , mezzanine debt, B-notes, CDOs, residential ABS and non-performing loans. 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 $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. |
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