HORSHAM, Pa., June 24 /PRNewswire/ -- GMAC Commercial Mortgage Corporation
(GMACCM) and GTE Communications Corporation (GTECC) today announced the
companies have signed a two-year agreement under which GMACCM will represent
GTECC to sell bundled communications services to thousands of apartment
residents nationwide.
The GTECC services, including local, long-distance and cellular telephone
service, video, Internet and paging, will be offered through a unique GMACCM
program called GMAC Resident's Advantage(SM). The program offers apartment
dwellers the convenience of purchasing a variety of communications products
and services through their properties' rental offices. Under the agreement,
GMACCM will provide training and sales incentives to property owners within
GMACCM's portfolio of multiple-dwelling units.
"We are very pleased to add GTE Communications Corporations' services into
Resident's Advantage product mix," said John Cerciello, vice president of
marketing, Tenant Services Division, GMACCM. "Signing a major player, such as
GTECC, completes a national communications footprint for GMAC Resident's
Advantage. We now have the ability to offer communication products and
services throughout the entire continental United States."
"We are always looking for new ways to make it easier for people to shop
for telecommunications services," said Tina Mims, general manager-emerging
channels for GTE Communications Corporation. "This agreement with GMACCM
means you now have the convenience of ordering telecommunications services at
the same time you rent an apartment unit -- it really couldn't be simpler."
Created by Tenant Services, a division of GMACCM and launched in September
1997, GMAC Resident's Advantage is the first program of its kind in the real
estate industry to provide apartment residents easy access to national,
regional and local products.
In addition to long distance, these products include local phone service
with the regional Bell operating companies, cellular, Internet access,
renter's insurance, auto insurance, tax preparation, moving, self-storage,
truck rental, professional moving services, furniture rental, in addition to
home delivery of bottled water and local and national newspapers.
With 1997 revenues of more than $23 billion, GTE is one of the world's
largest telecommunications companies and a leading provider of integrated
telecommunications services. In the United States, GTE provides local service
in 28 states and wireless service in 17 states. Nationwide their services
include long-distance and Internetworking services ranging from dial up
Internet access for residential and small business consumers to Web based
applications for Fortune 500 companies as well as video service in selected
markets.
Outside the United States, the company serves more than 7 million
telecommunications customers. GTE is also a leader in government and defense
communications systems and equipment, directories and telecommunications-based
information services, and aircraft-passenger telecommunications.
News releases and other information about GTECC and its products and
services are available at http://www.gte.com on the Internet.
The Tenant Services Division of GMACCM develops customized programs for
building owners, designed to provide ancillary income, enhance property value,
and attract and retain residents. GMACCM 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 $47 billion, and provides a variety of
products and resources including long-term, interim, and construction
financing.
News releases and other information about GMACCM 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.
SOURCE GMAC Commercial Mortgage Corporation
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383, or Marion Guthrie of GMACCM-Tenant Services
Division, 215-328-1428, or e-mail, MGuthrie@GMACTS.com, or
Barbara Bellinghausen of GTE Communications, 972-465-5121
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