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GMAC Commercial Mortgage has launched a European commercial MBS unit and is in talks with potential underwriters of its first securitization, which could be launched in the first quarter.
The lending powerhouse has set ambitious plans for the European shop. It hopes to securitize 500 million to I billion euros ($988 million) of commercial mortgages next year, according to market sources.
The venture will initially focus on large loans. It recently helped Investream, a London investment firm, finance the purchase of two office properties in Central London for a total of about 150 million pounds ($235 million). The...