The borrowers are tenants-in-common partners River I LLC and River II LLC. Wayfield Foods anchors the 13.9-acre center. GMACCM assistant vice president Keith Morris, of the firm's Atlanta origination office, arranged the loan. He says that because of his company's working knowledge of the submarket, "we were able to offer an 80%-loan-to-value [financing], while competitors were quoting only 75% LTV."
Morris says his team "worked over the holidays to ensure the loan closed early in the New Year, which met the timing requirements of the sales contract." GMAC disclosed the transaction on Feb. 14.
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