General Motors Asset Management Corp. closed on $246.5 million in commercial mortgage loans to refinance seven properties it manages for the $100 billion General Motors Corp. pension fund, said Jerry Dubrowski, spokesman.
The loans include: $92 million secured by the Eastridge office portfolio, New York; $54 million, Towers Crescent office building complex, Vienna, Va.; $37 million, the Chase at Bethesda (Md.) apartment complex; $34.5 million, the AEW/GM Pension Trust industrial portfolio, which has six warehouse properties; $13 million, Sherwood Forest apartment complex, Coral Springs, Fla.; $12 million, Vinings II apartment complex, Boca Raton, Fla.; and $4 million, CentrePort Distribution, a Dallas/Fort Worth-area warehouse.
