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GMAC Commercial Mortgage Launches Equipment Finance Group to Expand Hospitality Division Business
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HORSHAM, PA,  September 18, 1997 ----- GMAC Commercial Mortgage (GMACCM) is expanding its Hospitality Division business with the creation of an equipment financing group to serve the lodging industry.

The new Equipment Finance Group will initially focus on providing financing for critical hospitality industry equipment including items from furniture to softgoods. They will eventually support other GMACCM business groups by providing short-term finance and leasing products.  The group, based in Atlanta, GA,  will operate as part of GMACCM’s Hospitality Division in Vienna, VA.

Managing the new operation is GMACCM Senior Vice President Jon Wright.  He is a commercial real estate professional and a nine-year veteran of Holiday Inn Worldwide (Holiday Hospitality Corp.).  At Holiday Inn, he was managing Director of the company’s financing subsidiary, which provided loans and leases to Holiday Inn and  Crowne Plaza brand franchise owners.

Joining Wright are Vice President of Business Development, James Grant and Vice President of Operations, John Hopkins. Grant was most recently with Holiday Inn Worldwide as Manager of Business Development for the financing subsidiary. Prior to that he was a Supervisory Business Loan officer for the Small Business Administration. Hopkins recently served with First Tennessee Bank. He is an 11-year veteran of Holiday Inn Worldwide, where he held management positions in franchise credit, accounting, internal audit and operations.

GMAC Commercial Mortgage is the nation’s leading one-stop financial resource in the commercial mortgage banking industry. The diverse lending and servicing specialist has 34 nationwide offices, and a servicing portfolio of more than $28 billion. The company provides a variety of products and resources including long-term, interim and construction financing.

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

 

Contact:
Scott Rombach
vice president of Public Relations, at
(215) 328-3383
Web site: www.gmaccm.com.

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