GMACCM to Buy 3 Aussie RE Group Units

Published May 08, 2003, 2:00 p.m. EDT

1 Min Read

GMAC Commercial Mortgage Corp., Horsham, Pa., has announced that it plans to acquire three businesses from Lend Lease Corp. Ltd., an Australian global real estate group.The terms of the deal were not disclosed. The three units are CapMark Services, the Debt Advisory Group, and the North American Asset Management business. David E. Creamer, chairman of GMAC Commercial Holding Corp., the parent company of GMACCM, said CapMark has a $60 billion servicing portfolio that will be a significant addition to GMACCM's portfolio. The acquisition will also include $5 billion in management accounts from the Debt Advisory Group and $21 billion in special servicing through the asset management unit. GMACCM can be found on the Web at http://www.gmaccm.com.

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