GMAC Commercial Mortgage Arranges $74 Million Loan on Trophy Office Tower in Falls Church, Va.

FALLS CHURCH, Va.--()--Sept. 13, 2004--GMAC Commercial Mortgage Corporation (GMACCM) arranged $74 million in debt to refinance a 365,000 square foot Class-A trophy office building situated on 13.78 acres in Falls Church, Va.

GMACCM, acting exclusively on behalf of 2941 Fairview Park Drive, LLC, placed the first mortgage debt with Bear Stearns. The property, known as 2941 Fairview Park Drive, was constructed in 2001 and offers views of the adjacent lake from all of its 15 stories as well as extensive landscaping, waterscaping, structured parking, exercise facilities, a cafe and a highly-rated, award winning white-tablecloth restaurant. The property is part of The Fairview Office Park, which will encompass over 3.6 million square feet of first class office, residential, and retail space, with waterfront dining and conference facilities. It is also home to several Fortune 500 companies. It is situated at the intersection of Route 50 and Interstate 495 and is visible from both major roadways.

The property is the worldwide headquarters of General Dynamics, the anchor tenant, which occupies floors 10 through 15 on a long-term lease. Other noteworthy tenants include Electronic Data Systems (EDS), SunTrust and the law firm Howrey, Simon, Arnold & White, LLP.

Richard Bopp, Senior Vice President and Branch Manager of GMACCM's Washington D.C. office, worked collaboratively with Fabrice Vasques and Ryan Pinson to structure this transaction for their client. "It was a team effort to secure permanent financing for our client who had allowed us to be their exclusive representative. Working closely with the borrower, we created an auction and selected Bear Stearns as the lender who best satisfied our client's needs."

GMAC Commercial Mortgage Corporation (GMACCM), a wholly-owned subsidiary of GMAC Commercial Holding Corp., is a premier financial services firm with extensive funding sources that, coupled with a broad menu of innovative financing programs, serve the needs of borrowers of commercial real estate debt as well as the providers of such capital. GMACCM is an industry leader in loan origination, servicing, asset management, investment management and technology worldwide. GMACCM has a servicing portfolio of more than $240 billion and provides a variety of financing products and services including permanent, interim, mezzanine and construction lending as well as equity capital. GMACCM has specialized lending units focused on healthcare, hospitality and franchise and equipment lending.

News releases and other information about GMACCM, its products and services are available at www.gmaccm.com.

Contacts

GMAC Commercial Mortgage Corporation (GMACCM)
Colleen Plummer, 215-328-3383
Colleen_Plummer@gmaccm.com
or
Joyce Patterson, 215-328-3842
Joyce_Patterson@gmaccm.com

Contacts

GMAC Commercial Mortgage Corporation (GMACCM)
Colleen Plummer, 215-328-3383
Colleen_Plummer@gmaccm.com
or
Joyce Patterson, 215-328-3842
Joyce_Patterson@gmaccm.com