HORSHAM, Pa., May 20 /PRNewswire/ -- GMAC COMMERCIAL MORTGAGE (GMACCM) has
closed a $28,320,000 mortgage for the Red Rose Commons, a new retail power
center in Lancaster, Pennsylvania.
Red Rose Commons opened in late 1998 and is located on 48 acres near the
intersection of U.S. Route 30 and Fruitville Pike. The center has more than
460,000 square feet and features tenants including Home Depot, Weis Markets,
Sports Authority, Circuit City, Pet Smart, Barnes and Noble, Old Navy, Office
Max and Linens' N Things.
The fixed rate, permanent financing was provided to Red Rose Commons
Associates, LP, a partnership created by affiliates of the Goldenberg Group
and Pennsylvania Real Estate Trust.
GMACCM Senior Vice President and East Coast Division Manager Ed Riedlinger
and Senior Loan Analyst Robert Falese both of the Philadelphia 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 40 nationwide offices. GMACCM has a servicing
portfolio of over $70 billion, and provides a variety of financing products
and services including long-term, interim, and construction lending.
Press 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 Commerical Mortgage,
215-328-3383.
SOURCE GMAC Commercial Mortgage Corporation
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Rombach of GMAC Commerical Mortgage,
215-328-3383
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