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GMAC Commercial Mortgage Arranges $27 Million Financing for Washington, D.C. Hotel Property

HORSHAM, Pa.--(BUSINESS WIRE)--July 5, 2001--GMAC Commercial Mortgage Corp. (GMACCM) has arranged $27,000,000 in adjustable-rate acquisition financing for a Washington, D.C. hotel property.

The Residence Inn Vermont Avenue is located in the nation's capital and was renovated in 1999. There are 202-units in this twelve-story interior corridor hotel. The building has a total of 158,000 square-feet and is situated on .37 acres. RIDC, LLC received the financing.

The GMACCM Hospitality Industry Division in Washington, D.C. arranged the transaction.

GMAC Commercial Mortgage, a wholly owned subsidiary of GMAC Commercial Holding Corp, is the leading U.S. financial solutions provider servicing commercial real estate borrowers and investors seeking relationship-based advice and consultation. GMACCM is an industry leader in loan origination, servicing, asset management and securitization of commercial mortgages.

The diverse lending and servicing specialist has more than 60 offices nationwide. GMACCM has a servicing portfolio exceeding $105 billion, and provides a variety of financing products and services including permanent, interim, and construction lending, with specialized lending units focused on healthcare and hospitality as well as e-commerce offerings through Internet commercial mortgage lending.

Press releases and other information about GMAC Commercial Mortgage and its products and services are available at http://www.gmaccm.com on the Internet.

GMAC Commercial Mortgage Corp.
Scott Rombach

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