HORSHAM, Pa., June 11 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
has completed a $974,502,237 securitization backed by 121 fixed rate
commercial mortgages on 162 commercial and multifamily residential properties.
The CMBS securitization represents the second issued this year where GMAC
Commercial Mortgage independently managed the entire process. In addition to
originating all of the mortgage loans in the pool, GMACCM also completed
stand-alone involvement in the securitization, underwriting and total
servicing of the transaction. The first CMBS transaction, in the amount of
$1,334,328,273, was completed in February. The two independently managed
deals emphasize GMACCM's vertically integrated capabilities and strength in
the commercial mortgage conduit business.
The mortgaged properties are located in 28 states. The largest
concentrations are in New York (20.26 percent), California (20.00 percent),
Pennsylvania (7.42 percent), Florida (7.24 percent), and Colorado (5.76
percent).
Office properties represent 27.89 percent of the securitized loan pool
followed by multifamily housing at 26.85 percent and retail properties at
26.78 percent. The package also includes hospitality, industrial, mixed use
and other properties.
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 global 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.
CONTACT: Scott Rombach of GMAC Commercial Mortgage, 215-328-3383.
SOURCE GMAC Commercial Mortgage
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383
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