HORSHAM, Pa., March 18 /PRNewswire/ -- GMAC Commercial Mortgage
Corporation (GMACCM) has arranged $21,000,000 in fixed-rate permanent
financing for a St. Petersburg, Florida office complex.
Metropointe Commerce Park has a total of 383,895 square-feet and is
situated on 42 acres of land. This deal was crossed with the existing Gateway
and Gateway Business Park Portfolio totaling 750,000 square-feet of
industrial/flex property located in St. Petersburg. Phase I consists of
9 existing buildings totaling 240,495 square-feet and Phase II will consist of
4 buildings totaling 204,000 square-feet. Phase I in the amount of
$13,750,000 funded in October of 2001 and the remaining $11,250,000 will fund
in October of 2002. 3JG Trust received the funding with a 25-year
amortization.
GMACCM Senior Vice President Marc Sumner of the Orlando, Florida retail
loan origination office arranged the transaction through TIAA.
GMAC Commercial Mortgage, a wholly owned subsidiary of GMAC Commercial
Holding Corp., is the leading U.S. financial solutions provider serving
commercial real estate borrowers and investors seeking relationship-based
advice and consultation. GMACCM is an industry leader in loan origination,
servicing, asset management and securitization of commercial mortgages. The
diverse lending and servicing specialist and its affiliates have more than
85 offices worldwide. GMACCM has a servicing portfolio exceeding
$134 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 e-commerce
offerings through Internet commercial mortgage lending.
News releases and other information about GMAC Commercial Mortgage and its
products and services are available at http://www.gmaccm.com on the Internet.
CONTACT: Kelley DeSantis of GMAC Commercial Mortgage, +1-215-328-1942.
SOURCE GMAC Commercial Mortgage Corporation
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Related links:
http://www.gmaccm.com
Company News On-Call:
http://www.prnewswire.com/comp/122720.html
CONTACT:
Kelley DeSantis of GMAC Commercial Mortgage,
+1-215-328-1942
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