The loans, at "a very competitive market rate," were originated on behalf of Freddie Mac by the Chicago and New York City offices of GMAC Commercial Mortgage. The Chicago office was represented by senior vice president John Oharenko and senior real estate analyst Matt Ewig. Jere Lucey, vice president of the New York office, also was involved in the transaction.
Terms were not released, but GMAC says the loans were cross-collateralized and structured with substitution of collateral and release provisions.
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