GMAC Expands Its Presence in Europe.(enters into strategic alliance with Groupe Bazin)(Brief Article)

GMAC Commercial Holding Corp., a commercial real estate financier and servicer, has entered into a strategic alliance with Groupe Bazin, a French company that provides real estate services.

The main objective of the alliance is "to meet the market, technical and financial needs of both companies and to provide them with complementary expertise to reinforce their respective presence in France and in Europe," GMAC said.

GMACCHC - which already has a presence in Paris through an office opened in 1999 - expects to benefit from Groupe Bazin's market knowledge to develop real estate activities, "particularly in the areas of property, facility, and asset management, as well as project development" in France, Portugal and Belgium, and then in the rest of Europe.

Besides expanding its servicing and asset management presence in France and other parts of Europe, GMACCHC expects to develop its activities in the areas of real estate financing and securitization, two of the company's major activities.

Groupe Bazin has a presence in Portugal and Belgium as well as in France, its home base. With a team of about 120 people, Groupe Bazin specializes in property, ...