The borrower is Designer's Court, LP, which has owned the center since 1990. The property is currently undergoing a $1 million facelift, including a brick exterior façade in an upscale Colonial design. Designer's Court, which is currently 100% occupied with five tenants specializing in the home furnishings category, is situated on a 6.4-acre site with 1,300 feet of frontage along NJ Route 73.
GMACCM is a wholly owned subsidiary of GMAC Commercial Holding Co. The firm has some 60 offices nationwide and a servicing portfolio exceeding $125 billion.
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