GMAC Commercial Mortgage Corporation Provided $60 Million in Acquisition Financing for a Florida Retail Property

Business Wire, Sept 19, 2005

ORLANDO, Fla. -- GMAC Commercial Mortgage Corporation (GMACCM) has provided $60 million in floating-rate, acquisition financing for an Orlando, Fla., retail property.

Marketplace at Dr. Phillips, located at 7600 Dr. Phillips Boulevard, was built in two phases in 1982 and 1993. Two out-parcels were also added to the property during 1989 and 1990. The 320,346-square-foot property is home to tenants such as Albertson's, Home Goods, Blockbuster Video, Bank of America and Washington Mutual.

GMACCM Vice Presidents Barbara Bozzacco and Saul Hoppenstein, of the Boca Raton loan origination office, arranged the transaction through GMACCM's Proprietary Lending Group and Woolbright/Marketplace at Dr. Phillips, LLC received the funding. Woolbright currently owns five assets, totaling approximately 1,000,000 square feet, in the greater Orlando Metropolitan Statistical Area. Marketplace at Dr. Phillips is its largest property.

GMAC Commercial Mortgage Corporation (GMACCM), a wholly owned subsidiary of GMAC Commercial Holding Corp., is a premier financial services firm with extensive funding sources that, coupled with a broad menu of innovative financing programs, serve the needs of borrowers of commercial real estate debt as well as the providers of such capital. GMACCM is an industry leader in loan origination, servicing, asset management, investment management and technology services. The diverse lending and servicing specialist and its affiliates have more than 100 offices worldwide. GMACCM has a servicing portfolio of more than $263 billion and provides a variety of financing products and services including permanent, interim, mezzanine and construction lending as well as equity capital for commercial real estate. GMACCM has specialized lending units focused on healthcare, hospitality and construction lending.

News releases and other information about GMACCM, its products and services are available at www.gmaccm.com.