Terms of the loan are undisclosed. Higgins says, "thislong-term, self-liquidating loan will refinance and existing loan.We were able to negotiate a discounted prepayment penalty as partof the lender's refinance," he adds.
The property consists of one 6,746-sf office building andanother with an aggregate of 28,325 sf. Both are currently 100%leased by 17 tenants including Magic Years Day Care and ChesterCounty Medical.
GMACCM, a wholly-owned subsidiary of Horsham, PA-based GMACCommercial Holding Corp. and its affiliates has more than 100offices worldwide. Its servicing portfolio is in excess of $243billion.
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