BMC Capital announced on Monday, September 11, 2006, that it originated a $3.9 million loan for the purchase of a 63-room Comfort Inn hotel.
Dallas, TX -- (ReleaseWire) -- 09/11/2006 --BMC Capital announced on Monday, September 11, 2006, that it originated a $3.9 million loan for the purchase of a 63-room Comfort Inn hotel located at 7049 Enterprise Drive in Olive Branch, Miss., a city 23 miles south of Memphis.
“BMC was able to provide the borrower a high leverage loan at a competitive rate,” says Leah Alberti, a vice president at BMC’s Phoenix Office. The Mississippi-based borrower received a 25-year loan with a loan to value of 85%. “The best part is that we were able to meet the borrower’s tight time table of less than two months”, says Alberti.
BMC Capital is a leading lender for the limited service hospitality sector and anticipates originating at least 50 such transactions in 2006.
About BMC Capital, LP
BMC Capital, LP is the country’s leading specialist for providing multifamily, commercial, owner/user and hospitality 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.