BMC Capital Provides $3.75M Loan for the Acquisition of Holiday Inn Express in Granbury, TX
Dallas, TX -- (ReleaseWire) -- 07/16/2007 -- BMC Capital announced on July 11, 2007, that it originated a $3,750,000 loan for the acquisition of Holiday Inn Express, a 52-room motel property located at 800 Harbor Lakes Drive in Granbury, TX.
“This was the borrowers’ first hotel acquisition and we were able to arrange a 25-year fixed, fully amortized loan with an 80% loan-to-value including renovation costs,” says Mason Whitehead, a loan officer at BMC Capital’s Dallas headquarters.
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.
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BMC Capital, LP
View this press release online at: http://rwire.com/12886