|GMAC Commercial Mortgage Corporation (GMAC) said it provided a $30.5 million fixed-rate permanent loan for an eleven-property multi-state self-storage portfolio. The 30-year amortized loan was provided for Sovran Self Storage, a real estate investment trust, and secured by Texas, New York, Ohio, Michigan, Florida, and Massachusetts properties. Mercury Partners, a Connecticut based merchant bank, represented Sovran, and the transaction was arranged through CII, a GMAC company.
Holliday Fenoglio Fowler, L.P. (Holliday) announced that it arranged $27.3 million in financing for The Holland Park Apartments, a 496-unit Class A multifamily community in the northeast Atlanta suburb of Lawrenceville. The five-year, fixed-rate acquisition financing on the 3 year old property was arranged through Principal Capital Management, a life insurance company lender.