Retirement REIT Completes GMAC Mortgage Financing

On October 1, 2003, Retirement Real Estates Investment Trust completed a US$48 million mortgage financing for 11 of its skilled nursing home facilities located in Connecticut, Vermon and New Hampshire with GMAC Commercial Mortgage Corporation.

The REIT was represented in-house by Frank Cerrone, vice-president, general counsel and secretary, and by Stephen Pincus, Michelle Roth and Erin Nicholas of Goodmans LLP. Local counsel to the REIT included Timothy Boyce of Dechert LLP in Connecticut, Mar Saunders of Eggleston and Cramer, Ltd. In Vermont, and Peter Burger of Orr & Reno in New Hampshire. GMAC was represented by Kelly Wrenn, Langhorne Ambrose and Stacy Dee of Ballar Spahr Andrews & Ingersoll, LLP in Washington, D.C.