BMC Capital Provides $550,000 Loan for the Acquisition of Montana Medical Arts Building in El Paso, TX
June 07, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on June 5, 2007, that it originated a $550,000 loan for the acquisition of Montana Medical Arts Building, a 27-unit multi-tenant property located on Montana Avenue in El Paso, TX.
“We were able to close on time, even though the client was in Italy throughout the loan process,” says Glenn Gioseffi, a Vice President at BMC Capital’s Seattle office. “Through our in-house BMC Direct program, we provided the borrower with a secure a 10-year fixed rate on a 60% loan-to-value mortgage and a 30-year amortization.”
BMC Capital is a leading lender for small-balance multi-tenant commercial loans in the Southwest 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.