Dallas, TX -- (ReleaseWire) -- 07/21/2006 --BMC Capital announced on Wednesday July 19, 2006, that it originated a $5.46 million loan for the purchase of the Holiday Inn Express, a 91-room business traveler hotel. The property is located at located at 3807 South Street in Nacogdoches, Texas, a city at the crossroad of numerous major highways and near the Louisiana border.
“Class A hotel properties on major interstate commuter routes are in high demand by business travelers,” says Leah Alberti, BMC Capital’s Phoenix-based vice president. “We provided the borrower with competitively priced financing at a generous 85% loan to value”. The Houston based borrower received a fixed rate loan with a 25-year amortization.
BMC Capital is the leading lender in this sector in the Texas market and anticipates originating at least 50 similar transactions in the region this year.
About BMC Capital, LP
BMC Capital, LP is one of the country’s leading providers of financing for limited service hotel and motel properties. 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