HORSHAM, Pa., Feb. 25 /PRNewswire/ -- GMAC Commercial Mortgage Corporation
(GMACCM) has arranged $144,000,000 in acquisition financing for the purchase
of the Meditrust Medical Office Building portfolio.
The borrower, Acquisition Advisers, Inc., an entity led by Bruce Rendina,
received acquisition financing with a floating interest rate to purchase the
portfolio consisting of 20 medical office buildings. Located in Florida,
California, Texas, Arizona, and New Jersey, the medical office buildings have
an average occupancy rate of 96%, and are situated either on a hospital campus
or affiliated with nearby hospitals. Funding was provided by GMACCM's CII
division, located in New York City.
GMACCM Senior Vice President Bob Keating of the Red Bank, New Jersey
office arranged the transaction.
GMAC Commercial Mortgage, based in Horsham, PA is a wholly owned
subsidiary of GMAC. It is the nation's leading one-stop financial resource in
the commercial mortgage banking industry. The diverse lending and servicing
specialist has more than 50 offices nationwide. GMACCM has a servicing
portfolio of over $78 billion, and provides a variety of financing products
and services including permanent, interim, and construction lending, with
specialized lending units focused on healthcare and hospitality as well as a
Small Loan division.
News releases and other information about GMAC Commercial Mortgage and its
products and services are available at http://www.gmaccm.com on the Internet.
For GMACCM press releases by fax, call 800-758-5804, ext. 122720.
For more information, contact Scott Rombach of GMAC Commercial Mortgage,
215-328-3383.
SOURCE GMAC Commercial Mortgage
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Related links:
http://www.gmaccm.com
Company News On-Call:
http://www.prnewswire.com/comp/122720.html or fax,
800-758-5804, ext. 122720
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383
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