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GMAC Provides $27M Loan for Pinnacle Apartments

COLORADO SPRINGS-GMAC provided a $27 million loan for the owner of an apartment community in Colorado Springs. The complex, located at 6416 Honey Grove, was completed in 2004 and is north of Downtown Colorado Springs near Austin Bluffs Parkway.

By John Rebchook | Updated on October 05, 2005

(To read more on the debt and equity markets, click here.)

COLORADO SPRINGS-GMAC Commercial Mortgage Corp. recently provided $27 million in fixed-rate, permanent financing for a Colorado Springs apartment community. GMAC provided financing for Pinnacle Apartments, a 300-unit luxury apartment community situated on 17.73 acres of land. The complex, located at 6416 Honey Grove, was completed in 2004 and is north of Downtown Colorado Springs near Austin Bluffs Parkway.

GMAC senior vice president Kevin McCormack and vice president Mark Williams, both of the Denver loan origination office, arranged the transaction through Aegon USA Realty Advisors. AB Apartments LLC received the funding.

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