Dallas, TX -- (ReleaseWire) -- 05/12/2006 --BMC Capital announced today that it provided $3,395,000 in mortgage financing for the refinance of the 129 unit Lewiston Apartments located at 5507 Lewis Avenue in Toledo, Ohio. In April of 2004, the owner purchased the multi-family property. After stabilizing it and increasing the property value, the owner refinanced using a cash-out refinance mortgage. The loan had 78.5% loan-to-value and interest rate in the six percent range. BMC Capital originates hundreds of loans each year and plans on funding many Ohio properties in 2006.
Gavin Pike is Vice President of BMC Capital’s Ohio region and coordinated the financing on behalf of the borrower.
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
Or visit www.bmccapital.com