GMAC, Merrill Lynch and Deutsche Bank Close Offering

GMAC Commercial Mortgage Securities of Canada, Inc., an affiliate of GMAC Commercial Mortgage of Canada Limited (GMACCM), together with Merrill Lynch Canada Inc. and Deutsche Bank Securities Limited, as underwriters, closed a $210.187 million offering of mortgage pass-through certificates in the Canadian market and a private placement of an additional $22 million of certificates. The deal closed on August 12, 2002. The securitized interests consist of 18 commercial mortgage loans originated by GMAC Commercial Mortgage of Canada Limited and secured by real property located in Ontario, Quebec, Manitoba and British Columbia.

GMAC was represented by Torys LLP, with a team that included Rose Bailey, Scott Kraag, John Toffoletto and Michael Feldman, with tax advice from John Unger. Dan Miller, Jeff Scheine and Pamela Petree of Torys in New York dealt with U.S. aspects of the transaction. The underwriters were represented by Blake, Cassels & Graydon LLP, with a team led by Martin Fingerhut and including Steve Ashbourne, Michael Burke, Michelle Schwartzberg, Mark Selick, Paul Tamaki and Markus Viirland. Martin Herman of Blakes represented Wells Fargo Bank Minnesota, National Association as backup and servicer reporting agent and Computershare Trust Company of Canada as custodian.