BMC Capital Provides $4.25M Loan for the Acquisition of Holiday Inn Express in Sherman, TX
October 10, 2007 (PRLEAP.COM) Business NewsBMC Capital announced on October 1, 2007 that it originated a $4,250,000 loan for the acquisition of Holiday Inn Express, an 84-room hotel property located at 2909 Michelle Drive in Sherman, TX.
“We were able to arrange a 5-year fixed rate on an 82% loan-to-value and amortized over 25-years,” says Leah Alberti, a Vice President at BMC Capital’s Scottsdale office.
BMC Capital is the leading lender for small-balance hospitality loans nationwide and anticipates originating at least 150 such transactions in 2007.
About BMC Capital, LP
BMC Capital, LP is the country’s leading specialist for providing multifamily, commercial, owner/user and hospitality mortgage loans in the $500,000 to $5 million range, with funding capabilities up to $100 million per loan transaction. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 states.