Created last September to provide the hospitality and healthcare industries with supplemental financing for furniture, furnishings and critical equipment, the EFG recently completed GMACCM�s first transaction in the Bahamas by providing $1 million in financing for a hotel property in Nassau.  The group also closed a $25 million transaction for a major hotel/casino project. 

Other transactions approved to date include a $15 million line of credit to a national healthcare provider for furniture, furnishings and equipment and the refurbishment of multiple senior living facilities; $1.4 of FF&E leases for casual dining restaurant concepts, and financing for multiple hotel projects, ranging in size from $125,000 to $1 million. 

According to Jon Wright, GMACCM senior vice president and manager of the Atlanta-based Equipment Finance Group, transactions are typically three to seven years, fully amortized, and cover the complete cost of the FF&E, as well as soft costs and cosmetic work associated with a renovation. 

�The rapid success of our equipment financing group is made even more dramatic by the substantial level of prospective deals currently in our pipeline,� noted Wright.  �Our burgeoning operation reflects GMACCM�s commitment to remaining unsurpassed as a one-stop financial resource.� In addition to Wright, the group�s management team includes Jim Grant and David Fender, vice presidents of business development, and John Hopkins, vice president of 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 more than 40 nationwide offices.  GMACCM has a servicing portfolio of over $47 billion, and 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.