HORSHAM, Pa., Oct. 6 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM) has
completed a $1.7 billion offering representing the single largest commercial
mortgage conduit securitization in history.
    Deutsche Morgan Grenfell and Lehman Brothers were lead managers on the
transaction.
    The securities are backed by 355 mortgages on 380 properties.  The
properties are located in 43 states, the District of Columbia and Puerto Rico.
The largest concentrations are California with 17.3 percent and New York with
12.3 percent.
    The mortgages were contributed by the conduit operations of Deutsche
Morgan Grenfell ($506 million), GMAC Commercial Mortgage ($490 million),
ContiTrade Services ($328 million) and Boston Capital ($100 million).  The
remaining $266 million are loans that were originated by Paul Revere Life,
which were jointly acquired by Deutsche and GMACCM.  Credit leases back six
percent of the pool balance.
    The collateral consists of the following property types:
    --  retail (25.5 percent of the pool balance),
    --  multifamily (18.8 percent),
    --  office (18.1 percent),
    --  industrial (10.2 percent),
    --  hotel (9.4 percent),
    --  nursing (8.1 percent),
    --  mixed use (4.3 percent), and
    --  self-storage (2.9 percent).

    The 15 largest loans in the pool range in size from $18.5 million to
$40 million and account for 21.4 percent of the total balance.  The
$40 million mortgage is backed by Crossroads Tower, a 377,000-square-foot
office building in Queens, NY that is partially occupied by a New York City
agency - Department of General Services.
    There is also a $39.9 million loan on the 383,000-square-foot headquarters
building for Circuit City in Richmond, VA.  The largest multi-property loan is
a $31 million mortgage backed by six nursing homes in Connecticut.
    GMAC Commercial Mortgage is the nation's leading one-stop financial
resource in the commercial mortgage banking industry.  The diverse lending and
servicing specialist has more than 30 nationwide offices.  GMACCM has a
servicing portfolio of over $28 billion, and provides a variety of products
and resources including long-term, interim, and construction financing.
    News releases and other information about GMAC Commercial Mortgage, its
products and services are available through the Internet at
http://www.gmaccm.com.  For GMACCM press releases by fax, call 800-758-5804,
ext. 122720.

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