GMACCM Arranges $2.1 Mil Funding for Office Building

MOUNT LAUREL, NJ-The MRD-owned building totals just under 28,000 sf and is 100% leased. Sun Life of Canada provided the financing.

By Eric Peterson | Updated on December 18, 2001

MOUNT LAUREL, NJ-GMAC Commercial Mortgage Corp., based in Horsham, PA, has arranged $2.1 million in fixed-rate financing for a single-story, 27,600-sf office building. The asset is located on just under four acres on County Route 616 in this Burlington County community in South Jersey.

Formerly a warehouse building, the asset is currently 100% leased to American Water Works. The MRD Limited Partnership, the owner of the facility, received the funding.

GMACCM vice president Warren Higgins, based in the firm’s Philadelphia retail production office, arranged the transaction. The financing was provided through Sun Life of Canada, a GMACCM correspondent lender.

GMAC Commercial Mortgage is a wholly owned subsidiary of GMAC Commercial Holding Corp. The firm has a servicing portfolio of more than $125 billion.

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