GMAC Provides $16 Mil In Financing

WASHINGTON, DC-GMAC Commercial Mortgage’s hospitality division, based here, arranged more than $16 million in permanent financing for three hotels, two located in Texas and one in Arizona. BMRI Hotel Property Ltd. borrowed $6.25 million in an adjustable-rate loan for the three-story, 102-unit Residence Inn by Marriott in Brownsville, TX. The extended-stay property features 72,000-sf and is located on three acres.

DFW Freeport RI Hotel Property Ltd. received $6.933 million in interim adjustable rate financing for the three-story Residence Inn by Marriott in Irving, TX. The 72,466-sf property is located on three acres in the Freeport Business Park near the Dallas/Fort Worth Airport.