HORSHAM, Pa., July 15 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
has secured $89 million in acquisition financing for a mid-town Manhattan
office building.  GMACCM was the originator, underwriter, and servicer.
    The borrower is ComMet 380, Inc.  The company has three shareholders
including, the New York State Common Retirement Fund, the Dutch Metal Workers
Pension Fund, and Rosenberg Real Estate Equity Funds.  Rosenberg is an advisor
to the two pension funds on the acquisition.
    The 25-story office building is located at 380 Madison Avenue, and extends
for a full block between 46th and 47th streets.  The property has a total of
more than 900,000 square-feet, including 774,000 square-feet of office space,
24,000 square-feet of retail space, a 44,000 square-feet underground parking
garage with 150 spaces, and 57,000 square-feet of storage.  The building was
constructed in 1952 and renovated in 1990.
    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 $26 billion, and provides a variety of products
and services including long-term, interim and construction financing.

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