BMC Capital Provides $500,000 Loan for the Acquisition of Hardees-Shippen Restaurant in Madison, AL
June 07, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on May 29, 2007, that it closed a $500,000 loan for the acquisition of Hardees’s Restaurant, a single-tenant retail property located at 8827 Highway 20 West in Madison, AL.
“The California investor requested financing to purchase a well located and performing Hardee’s restaurant as part of his 1031 exchange. The investor had a long standing relationship with a California mortgage professional but was happy to move his business over to BMC Capital where we provided a 30-year fixed rate loan amortized over a 30-year schedule through our in-house program BMC Direct. The fixed rate and amortization period was impressive given the length of the time remaining on the underlying lease,” said Steve Sieling, a Vice President at BMC Capital’s Dallas headquarters.
BMC Capital is a leading lender for small-balance single-tenant 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.