Toledo, OH -- (ReleaseWire) -- 05/26/2006 --BMC Capital announced today that it provided $1,240,000 in mortgage financing for the purchase of the 48-unit Colony Oaks Apartments located at 2450 West Central Avenue in Toledo, Ohio. Gavin Pike of BMC Capital arranged for an 80% loan-to-value mortgage to have a ten-year fixed rate in the six percent range and a 30-year amortization. BMC Capital is a leading lender in the Ohio market and plans on funding more than 50 loans in the state in 2006.
Gavin Pike is Vice President of BMC Capital’s Ohio office and coordinated the financing on behalf of the borrower. Dick and Bruce Smenner of Re/Max Real Estate Central represented the seller on this transaction.
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