HORSHAM, Pa., Jan. 28 /PRNewswire/ -- The Tenant Services Division of GMAC
Commercial Mortgage Corporation, the nation's largest multifamily mortgage
lender, announced today that it has reached an agreement with BellSouth
(NYSE: BLS) to provide apartment residents with Internet access and local
telephone and cellular services through rental offices at participating
properties throughout the Southeast.
A $19 billion communications services company based in Atlanta, BellSouth
is the fourth telecommunications provider within the last three months to
agree to make its services available through GMAC Resident's Advantage(SM).
Resident's Advantage is a landmark program launched in September, 1997, that
gives apartment residents the option to buy a broad range of products and
services from national vendors through their property's rental office.
"Resident's Advantage enables BellSouth to satisfy the communications
needs of multifamily apartment residents with unparalleled speed, simplicity
and convenience," noted Stan Pollard, Director of Alternate Channels. "That
not only reduces stress among renters, who can order phone services just as
they are about to move in to their new apartment, but also reinforces
BellSouth's reputation as the customer service leader in an increasingly
competitive industry."
BellSouth, which provides telecommunications, wireless communications,
directory advertising and publishing, video, Internet and information services
to more than 28 million customers throughout the U.S., Latin America, Europe
and Asia/Pacific. Its telephone operations uses one of the world's most
modern telecommunications networks, serving more than 23 million lines in a
region that includes Alabama, Florida, Georgia, Kentucky, Louisiana,
Mississippi, North Carolina, South Carolina and Tennessee.
GMAC Resident's Advantage, the first program of its kind in the real
estate industry, is enjoying skyrocketing popularity among building owners
seeking new, innovative ways to boost ancillary income and property value
despite higher operating costs, stricter regulation and market instability,
and to attract and retain tenants.
"Because our organization is a wholly owned subsidiary of General Motors
and the largest commercial mortgage banker, GMACCM has the immense financial
resources and expertise in management, operations, technology and training
necessary to provide property owners with even bigger profits, national
vendors with excellent marketing opportunities and renters with unsurpassed
convenience," explained Steve Quist, director of communication services for
the Tenant Services Division. "With the addition of BellSouth to the
Resident's Advantage program, Tenant Services can now offer phone services to
participating multifamily housing properties in 35 states."
Available to any property management or ownership firm that has at least
40 units, Resident's Advantage also provides tenants with easier access to
banking and financial services, insurance, moving and storage services,
furniture purchase and rental, newspaper subscriptions and a vast array of
consumer products.
The industry's leading one-stop financial resources, GMAC Commercial
Mortgage provides a variety of products and services, including long-term,
interim and construction financing. The diverse lending and servicing
specialist has a commercial servicing portfolio in excess of $40 billion, and
maintains 34 origination offices nationwide. The company is headquartered in
Horsham, Pa., a suburb of Philadelphia.
For further information contact: Marion Guthrie, director marketing
communications, GMACCM Tenant Services, 215-328-1428 or on the Internet at
Marion_Guthrie@gmaccm.com.
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.
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
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
122720
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