HORSHAM, Pa., Aug. 20 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
has arranged $31,900,000 financing for several California properties.
    The financing provides funding for an office/manufacturing facility, a
two-building office property, and a seven-building industrial property.  The
transactions were originated by GMACCM Vice President Bill Wood of the Newport
Beach, California office.

   They include:
   --  a construction loan in the amount of $8,000,000 provided to 19650
Pauling, LLC, on a floating rate basis, for a 125,225 square-foot facility in
Foothill Ranch, California.  The loan has an interest-only amortization, a
71.5 percent Loan To Value (LTV), and a 1.25 Debt Service Coverage Ratio
(DSCR).  The property is located on 7.24 acres, and will serve as the
headquarters for Bal Seal Engineering.  The building will house both office
and manufacturing operations.
    --  an $18,900,000 permanent loan to Continental Plaza, LLC, at a fixed
rate of 8.23 percent for the Continental Plaza, a two-building office
property.  GMACCM was the direct lender for the transaction, which had a LTV
of 75 percent and a DSCR of 1.35.  The property has two buildings, which
have 218,772 square-feet, and are on 13.3 acres of land.  The property is
100 percent leased to the State of California.
    --  a $4,000,000 construction loan to CPCC Associates II, LLC, at the Wall
Street Journal Prime Rate plus 1 percent.  The loan has an interest-only
amortization, a 66.14 percent LTV, and a 1.39 DSCR.  The Pacific Commercentre
is an industrial property composed of seven buildings on 4.64 acres of land.
It has 80,847 square-feet.  The loan was placed with California State Bank.

    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 resources including long-term, interim and construction financing.
    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.

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