In Brief: GMAC Lends $34M For L.A. Apartments

HORSHAM, Pa. - GMAC Commercial Mortgage has made a floating-rate $33.6 million loan to finance construction of the Fountain Park Apartments in Los Angeles.

The loan, which has a 30-year amortization schedule, closed July 20. The 250,500 square-foot middle-income housing project would contain 296 units.

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