New ownership is good for GMAC Real Estate, say affiliates

Investor group to buy controlling stake in GM subsidiary

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The planned sale of a majority stake in General Motors’ GMAC subsidiary to a group of investors should strengthen the company’s real estate operations, said real estate brokers and managers affiliated with the subsidiary.

Cerberus Capital Management LP, a private investment firm named for a mythological three-headed dog that guards the entrance to Hades, is leading the investment group, which also includes Citigroup Inc. and Aozora Bank Ltd.