In Brief: GMAC Unit, Pension Fund in Partnership

Published August 17, 2001, 1:00 a.m. EDT

Updated July 16, 2004, 1:15 p.m. EDT

1 Min Read

HORSHAM, Pa. GMAC Commercial Mortgage Corp. announced Thursday that its real estate equity group has partnered with the City and County of San Francisco Employees Retirement System to invest in multifamily real estate projects.

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The partnership will provide the retirement system, a pension fund that manages $12 billion of assets, with access to GMACs investment platform.

GMAC officials said the partnership is already seeded with $100 million of equity and other assets, which will provide the partnership with roughly $330 million of purchasing power.

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