Printer Friendly

GMAC arranges seven loans in five states.

Horsham, Pennsylvania-based GMAC Commercial Mortgage recently arranged seven loans to long term care operators:

* $4.7 million in financing for Retirement and Nursing Center, a 157-bed SNF in Austin, Texas. The permanent loan has a fixed interest rate of 8.27 percent and a 25-year amortization. The DSC is 1.35 and the LTV is 80 percent.

* $2.6 million in financing for Highland Pines Nursing Home, a 171-bed SNF in Longview, Texas. The interim financing has a floating interest rate and an interest-only amortization. The DSC is 1.0 times for the first year, 1.20 the second, and 1.35 the third. The LTV is 80 percent.

* $34.5 million in financing for four Camlu Senior Assisted Living campuses in Arizona, Texas, and Nevada. The permanent loan has a fixed interest rate of 7.14 percent and a 25-year amortization.

* About $2.5 million in financing for Pacific Care Center, a 118-bed SNF in Hoquiam, Washington. The LTV is 74.55 percent and the DSC is 1.2.

* $3.2 million in financing for Sanford home, a Flushing, New York, senior housing complex providing skilled nursing, adult care, and retirement living. The loan has a fixed interest rate and a 20-year amortization. The LTV is 52 percent.
COPYRIGHT 1999 Non Profit Times Publishing Group
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:GMAC Commercial Mortgage
Author:ADLER, SAM
Publication:Contemporary Long Term Care
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 1999
Words:209
Previous Article:Diversified arranges funds for affordable ALFs.
Next Article:Physician group buys Golan from Sun.
Topics:


Related Articles
HFF arranges $23m refi.
HFF refis apartment complex.
GMAC flexes its local muscles in $216m JV.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters