GMAC Commercial Mortgage Corporation Provides $140 Million in Refinancing for a Portfolio of Senior Housing Properties

Business Wire, April 17, 2006

HORSHAM, Pa. -- GMAC Commercial Mortgage Corporation (GMACCM) has provided $140,000,000 in floating-rate refinancing for a portfolio of 11 senior housing properties located throughout New England. This transaction represents the refinance of a previous GMACCM loan.

The portfolio consists of a total of 775 units comprised of 62 independent-living units, 396 assisted-living units and 317 memory-impairment units. Four of the properties are located in Massachusetts, two in Connecticut, two in New Hampshire and one each in Maine, Rhode Island and Vermont.

GMACCM Senior Vice President Philip Brooks, of the Richmond, Va., Healthcare origination office, arranged the transaction, and a joint venture managed by Benchmark Assisted Living LLC received the funding.

The proceeds of the loan were used to pay off existing debt, fund capital expenditures and future acquisitions by the joint venture, and return capital to the members of the joint venture.

According to Brooks, "Benchmark is a superior operator in providing board and care services to senior citizens in New England. We have worked with them for several years and consider them one of our best customers."

GMAC Commercial Mortgage is a Capmark Financial Group Inc. (Capmark) company. Formerly known as GMAC Commercial Holding Corp., Capmark is an industry leader in real estate finance, investments and services. Capmark's real estate lending and origination platform has access to multiple capital sources. The company is a direct lender, a correspondent for life insurance companies and pension funds and one of the leading approved lenders for FHA, Fannie Mae and Freddie Mac. In 2005, Capmark's originations were $29.9 billion.

Capmark's funds and investment management platform is a highly respected manager of equity real estate and mortgage-related investments in the public and private markets with $10.8 billion in investments under management and supervision.

With a portfolio of approximately $285 billion, Capmark is one of the industry's leading loan servicers.

The diverse real estate finance, investments and services company has more than 100 offices and operations in North America, Asia and Europe. For more information, visit www.gmaccm.com.