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GMAC buys 'BH&G' real estate

Published on .

General Motors Acceptance Corp., Detroit, is acquiring Meredith Corp.'s Better Homes & Gardens Real Estate Service, a national franchisor of real estate offices. Terms weren't disclosed. The deal marks GMAC's entrance into real estate services and complements its GMAC Mortgage Corp., Horsham, Pa. GMAC said the new unit will most likely be based near the mortgage operations, adding it hasn't been determined whether it will hire an ad agency.

Copyright June 1998, Crain Communications Inc.

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