BMC Capital Provides $1.55M Loan for Retail Center in Conroe, Texas
July 19, 2006 (PRLEAP.COM) Business NewsConroe, Texas — BMC Capital, announced on Monday July 19, 2006, that it originated a $1.55 million loan for the purchase of the Crossroads II shopping center, a multi-tenant retail property with 28,453 rentable sq. ft. located at 902 W. Dallas Street in Conroe, Texas, which is 40 miles from Houston and 5 miles from The Woodlands, Texas. Tenants of the property include Pittsburgh Paints and many local retailers.
“Crossroads II is well located in the growing Conroe market,” says Keith Van Arsdale, BMC Capital’s Director of Southwest Operations. “Multi-tenant retail centers are attractive to borrowers right now, so we have many loan options for our clients.” Van Arsdale arranged for a fixed rate loan in the 6.5% range on a 30 year amortization for a Northern California borrower. Don Stringham and Todd Carlson from Marcus & Millcihap represented the borrower in this transaction. Paul Gardner from Marcus & Millichap represented the seller.
BMC Capital is a leading lender in this sector in the Texas market and anticipates originating at least 100 transactions in the state this year.
About BMC Capital, LP
BMC Capital, LP is the country’s leading provider of multi-family, retail, commercial, and SBA mortgage loans in the $500,000 to $5 million range. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 States.
For more information on BMC Capital, contact:
4514 Cole Ave, Suite 750
Dallas, TX 75205