HORSHAM, Pa., Oct. 7 /PRNewswire/ -- GMAC Commercial Mortgage Corporation
(GMACCM) announced today it has reached a definitive agreement with GE Capital
Asset Management Company under which GMACCM will purchase a portion of a
commercial servicing portfolio from GE Capital Asset Management based in
Houston, Texas.
    "This acquisition continues the unmatched growth of our commercial
servicing portfolio and underscores our commitment to remain the nation's
leader in commercial real estate finance," said David Creamer, President,
GMACCM.
    Under the agreement, GMACCM will obtain master, primary and special
servicing duties, rights and benefits for a portfolio of 11,100 loans with an
unpaid principal balance of $7.1 billion.
    With this acquisition, GMACCM increases its leadership position as the
nation's largest servicer of commercial mortgages, with a servicing portfolio
over $36 billion.
    "Servicing is an integral part of our strategic direction and this
acquisition continues our aggressive expansion and increased ability to
provide clients with the highest level of servicing at the industry's lowest
servicing costs," said Barry Alan Moore, GMACCM Executive Vice President.
    With a servicing portfolio of more than $36 billion and 34 origination
offices nationwide, GMACCM is the nation's leading one-stop financial resource
in the commercial mortgage banking industry.  The diverse lender and servicing
powerhouse provides a variety of products and resources including long-term,
interim, and construction financing.
    News releases and other information about GMACCM, 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.

Link to this page: