Dallas, TX -- (ReleaseWire) -- 08/11/2006 --BMC Capital announced on Wednesday August 9, 2006, that it originated a $3.6 million loan for the purchase of a 67-room Holiday Inn Express hotel. The property is located at 1550 N. Lincoln Avenue in Liberal, Kan., a city north of the Okla. pan handle border and at the junction of US 53 and US 83.
“While hotels remain a challenging asset class for many lenders, BMC Capital’s national hotel program is designed to rapidly fund this asset class,” says Leah Alberti, a vice president in BMC Capital’s Phoenix office. “The buyer was looking for a high level of leverage on this loan. We were able to provide a mortgage solution that finances 85% of the purchase price and has a 25-year amortization.”
BMC Capital is a leading lender in the limited service hotel and motel finance sector and anticipates originating at least 100 similar transactions this year.
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.