GMAC Commercial Mortgage Corporation (GMACCM) has arranged $21 million in fixed-rate permanent financing for a St. Petersburg, FL, office complex.

Metropointe Commerce Park has a total of 383,895 sq. ft. and is situated on 42 acres of land. This deal was crossed with the existing Gateway and Gateway Business Park Portfolio totaling 750,000 sq. ft. of industrial/flex property located in St. Petersburg.

Phase I consists of nine existing buildings totaling 240,495 sq. ft. and Phase II will consist of four buildings totaling 204,000 sq. ft. Phase I in the amount of $13.7 million funded in October of 2001 and the remaining $11.3 million will fund in October of 2002. 3JG Trust received the funding with a 25-year amortization.

GMACCM Senior Vice President Marc Sumner of the Orlando, FL, retail loan origination office arranged the transaction through TIAA.

GMAC Commercial Mortgage, a wholly owned subsidiary of GMAC Commercial Holding Corp., is a U.S. financial solutions provider serving 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 and its affiliates have more than 85 offices worldwide.

GMACCM has a servicing portfolio exceeding $134 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.

For more information, visit www.gmaccm.com.

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