Dallas, TX -- (ReleaseWire) -- 08/11/2006 --BMC Capital announced on Tuesday August 8, 2006, that it originated a $1.24 million loan for the purchase of West Little York Business Center, a 13,312 sq. ft. retail center located at 17904 W. Little York Road in Houston, Texas.
Keith Van Arsdale, BMC Capital’s Director of Southwest Operations, originated the 70% LTV loan, which features a 7-year fixed-rate term with a 25-year amortization. “The borrower wanted a loan with a flexible prepay structure and no ongoing reserves. We have a variety of loan options with no TILC reserves and a declining prepay.” says Van Arsdale. Jamie Bouterie from Huntington Properties represented the sellers, and Jung Yu from E Executive Realty represented the Austin-based buyer.
BMC Capital is a leading lender of small-balance retail loans in the Texas market and anticipates originating at least 50 such transactions in 2006.
About BMC Capital, LP
BMC Capital, LP is the country’s leading specialist in providing 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.