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TAMPA, FL-GMAC Commercial Mortgage Corp. of Horsham, PA has purchased the assets of Tampa, FL-based Carey Kramer-North Florida for an undisclosed sum, adding $600 million worth of contracts to its $15 billion in commercial mortgage loans originated in 2000. Tampa is 80 miles west of Downtown Orlando.

In a prepared statement, GMACCM says the transaction gives the lender an opportunity to grow its Western Florida and Central Florida market share where Carey Kramer was strong. GMACCM dominates in Northeast Florida and South Florida.

Al Moczul, GMACCM senior vice president/regional manager, will oversee the combined operations. In the statement, he calls the deal “a very strategic alliance, one that will provide expanded capital resources, solid growth and enhanced service to our combined customers throughout Florida.”

Employee-owned Carey Kramer, founded in 1986, has a staff of 11 in two offices and originates $300 million in new loans annually. GMACCM has a servicing portfolio of $110 billion from 60 offices. The lender is a wholly owned subsidiary of GMAC Commercial Holding Corp.

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