In Acquisition Financing For An Illinois Office Property CHICAGO--(BUSINESS WIRE)--May 12, 2006 GMAC Commercial Mortgage Corporation (GMACCM) has arranged $81,775,000 in interim, floating-rate, acquisition financing for a Chicago office property. Triangle Plaza, located at 8750-8770 W. Bryn Mawr, is a two-tower office complex situated on 11.7 acres. The 631,445-square-foot property contains 1790 parking spaces and is currently 80 percent occupied by strong national, regional and local tenants. GMACCM Vice President Peter Smolenski, of the Chicago mortgage banking office, arranged the transaction through Allstate Investments. An affiliate of The JBC Opportunity Fund II, L.P. received the funding. According to Smolenski, "GMACCM provided very competitive pricing and terms for this repeat borrower. We closed this transaction in just 21 days." According to Kent Swanson, chief financial officer of The John Buck Company, "GMACCM and Allstate Investments understood our goals as a borrower and utilized our previous transaction experience in a highly effective manner to deliver a strong debt solution without the cost and expense of temporary acquisition debt." GMACCM is the servicer of the loan for the future disbursement of $21,000,000 in capital expenditures, leasing commissions and tenant improvement allowances. 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. GMACCM's real estate lending and mortgage banking 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. Founded in 1981, The John Buck Company ("JBC") is a privately owned, vertically integrated, full-service real estate company headquartered in Chicago with over 250 employees. JBC has developed, redeveloped and/or acquired over 45 properties, representing in excess of 28 million square feet of office, retail, hotel and residential projects and generated almost $9 billion in cumulative transaction volume. The JBC Opportunity Funds are real estate equity funds, which total more than $250 million, and focus on opportunistic acquisitions and development of high quality properties in major urban markets. Since their inception in 2000, the Funds have made 13 investments with a total cost in excess of $1.4 billion. Investments have been made in Chicago, Minneapolis, New York and Washington DC. For additional information, please visit www.tjbc.com. Property photo available upon request. CONTACT: GMAC Commercial Mortgage Corporation Joyce Patterson, 215-328-3842 Joyce_Patterson@gmaccm.com or Courtney Robinson, 215-328-3381 Courtney_Robinson@gmaccm.com
GMAC Commercial Mortgage Corporation Arranges $81.775 Million
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