Horsham, PA-based GMAC Commercial Mortgage Corp.'s Houstonoffice has arranged the fixed-rate financing through GE CapitalBusiness Asset Funding. GMAC's retail production team of AllanDannatt, senior vice president, and Stef Gorel, vice president,structured the financing for SBC Richardson LP.

The financing package carries a 7.8% interest on a 25-yearamortization. "We were able to get financing on an amortizationthat went way out past the lease, which is unusual for asingle-tenant building," Gorel tells GlobeSt.com. SBCCommunications, headquartered in San Antonio, holds a 10-year leasefor the property, which includes roughly two acres, at 2703 N.Central Expressway.

The Fortune 500 telecommunications company has investments in 28countries. Its second-quarter report pegged net income at $2.1billion in comparison with $1.9 billion for Q2 2000. SBC'ssubsidiaries include Southwestern Bell, Ameritech, Pacific Bell,Nevada Bell, SNET and Sterling Commerce.