Acquisition Financing for an Illinois Mixed-Use Property CHICAGO--(BUSINESS WIRE)--March 14, 2006 GMAC Commercial Mortgage Corporation (GMACCM) has provided $21,600,000 in fixed-rate financing for a Chicago mixed-use property. The property, located at One East Ontario, is comprised of retail, office and residential space. The loan provided by GMACCM is secured by the first six floors of the 51-story, mixed-use property, as well as four floors and 203 spaces of an attached, nine-story, 490-space parking garage. Floors seven through 51, which are not included in this loan, are being converted into residential condominiums. GMACCM Senior Vice President and Branch Manager Scott Dow, of the Boston loan origination office, arranged the transaction. Winthrop Realty Trust, a NYSE-listed real estate investment trust (REIT) headquartered in Boston, received the funding. According to Dow, "This was a complex transaction in which GMACCM understood the borrower's business plan and utilized local market experience to meet the needs of our client." 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 $276 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. CONTACT: GMAC Commercial Mortgage Corporation (GMACCM) Joyce Patterson, 215-328-3842 Joyce_Patterson@gmaccm.com or Courtney Robinson, 215-328-3381 Courtney_Robinson@gmaccm.com
GMAC Commercial Mortgage Corporation Provides $21.6 Million in
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