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Horsham, PA-GMAC Commercial Mortgage Corp. here is close to acquiring a state-owned mortgage-related business in France.
LeRoy Rothe, head of the company's international division, said the acquisition is connected to France's privatization efforts.
He said that he could not at press time divulge more about the acquisition itself, but said that it is part of GMACCM's general plan to develop commercial mortgage servicing, and master and special servicing businesses in Europe.
Mr. Rothe said such servicing...