GMAC flexes its local muscles in $216m JV.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 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 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 . The portfolio includes Jefferson Ridge, Jefferson Park Jefferson Park may refer to:
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 based Trimarchi Management Co. GMAC Commercial Mortgage Corporation (GMACCM) provided three separate acquisition financing loans totaling $75,250,000 to the partnership. Michael Bryant of the Dallas production office arranged the financing. 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." |
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