HORSHAM, Pa., June 28 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
has originated $88,000,000 of mortgages on a portfolio of senior and assisted-
living housing.
The mortgages secured by eight senior housing and assisted-living
properties were originated for Sunrise Assisted Living, Inc. of Fairfax, Va.
The loans were sold to Freddie Mac as their largest seniors transaction to
date. The eight cross-collateralized and cross-defaulted portfolio loans all
have a 10-year term with a 25-year amortization period. The 660 units are
spread out across three states; New Jersey, Pennsylvania and Virginia and all
are Victorian-manor style homes.
GMACCM Vice President Philip Brooks of the company's Healthcare Group in
the Richmond, Va. office originated the loan.
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.
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 more information, contact Scott Romach of GMAC Commercial Mortgage,
215-328-3383.
SOURCE GMAC Commercial Mortgage
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Romach of GMAC Commercial Mortgage,
215-328-3383
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