Dallas, TX -- (ReleaseWire) -- 08/14/2006 --BMC Capital announced on Thursday, August 10, 2006, that it originated a $7 million loan for the cash out refinance of North 41 Plaza, a multi-tenant retail center at 119 North Cobb Parkway in Marietta, Ga., a northern suburb of Atlanta. The 137,901 sq. ft. five-unit property currently houses Office Depot, Northern Tool and Cobb Antique Mall as its three primary tenants.
”We were able to secure a very aggressive rate for the borrower because of two reasons. One is the low LTV, and the other is the plaza’s strong tenants such as Office Depot and Northern Tool,” says James Conley, a vice president in BMC Capital’s Wilmington office. Through BMC, Conley was able to provide a 10-year fixed rate at 95 basis points over the 10-year Treasury with a 30-year amortization period.
BMC Capital is a leading originator of multi-tenant retail loans nationwide and anticipates providing at least 100 such transaction 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.