HORSHAM, Pa., March 8 /PRNewswire/ -- John M. Cannon, who produced more
than $1 billion in commercial mortgage loan originations over the past five
years, has been named Senior Vice President, Retail Production for GMAC
Commercial Mortgage Corporation.
    Cannon had been a Vice President at GMACCM's Philadelphia branch.  During
the past 14 years he was consistently one of the company's top loan officers
and was responsible for the origination of more than $1.5 billion in
commercial real estate transactions with various agencies, conduits, life
companies, REITS and pension funds.
    In his new role, he will act as a liaison with GMACCM's national
production network of 35 offices and 140 loan production personnel with the
goal of improving upon the company's 1999 level of $12 billion in new loan
originations.  In addition, he will work alongside Michael Goorvich, Senior
Vice President National Investor Relations and Rich McGee, Senior Vice
President Bank One Alliance, to augment loan production for both GMACCM's
internal and external lending sources.  He will also ensure that GMACCM
maintains its position as the country's premier, one-stop customer-focused,
commercial mortgage financial services firm.
    "John is a tremendous asset to GMACCM and a respected partner among our
national network of producers," noted Harold W. Purcell, Executive Vice
President Retail Production Administration.  "Under his leadership, I am
confident that we will maintain our position as the country's premier,
customer focused, commercial mortgage banking firm."
    Cannon notes, "We have a tremendous opportunity to dominate the commercial
real estate finance community.  I intend to leverage off the vast resources
available to GMACCM as the nation's largest commercial mortgage banking firm
by focusing on the basic elements necessary for any business to succeed, which
is to listen to the needs of our customers and consistently deliver superior
and professional service.  In the commercial lending business we do that by
offering a menu of commercial financial services that are unparalleled in the
industry."
    Cannon is a graduate of Lafayette College (Easton, PA) and has an MS
degree in Finance from Drexel University (Philadelphia, PA).
    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.

Link to this page:

  

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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