Construction Financing for a Nevada Office Condominium Property
LAS VEGAS--(BUSINESS WIRE)--April 12, 2006
GMAC Commercial Mortgage Corporation (GMACCM) has
arranged $27,300,000 in floating-rate, construction financing for a
Las Vegas office condominium property.
Huffman Professional Plaza, located at 5731 S. Fort Apache Road,
is an office condominium complex consisting of 14 buildings totaling
193,000 square feet.
GMACCM Vice President Kyle Nagy, of the Las Vegas loan origination
office, represented the borrower, Ft. Apache Acquisitions, LLC, in
arranging the construction loan through Inland Mortgage Capital
According to Nagy, "The borrower was looking for senior and
mezzanine debt from one source. We were able to secure a loan in
excess of 90% loan-to-cost from one lender at very favorable terms."
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 $276 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.
Property photo available upon request.
Nevada - GMAC Commercial Mortgage, 3993 Howard Hughes Parkway,
Suite 260, Las Vegas, NV 89109 disclosure.
GMAC Commercial Mortgage Corporation (GMACCM)
Joyce Patterson, 215-328-3842
Courtney Robinson, 215-328-3381
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