BMC Capital announced on Thursday, September 14, 2006, that it originated a $2.85 million loan for the purchase of the Plaza at Royal Oaks.
Dallas, TX -- (ReleaseWire) -- 09/15/2006 --BMC Capital announced on Thursday, September 14, 2006, that it originated a $2.85 million loan for the purchase of the Plaza at Royal Oaks, a 15,275 sq. foot shopping center located at 12002 Richmond Avenue in Houston, Texas. The center has 9 units and is 100% occupied. Its three main tenants are Subway, Collina’s Italian restaurant and Curves for Women.
“The borrower was looking to lock in a low rate in anticipation of a long term hold,” says Michael Thompson, a loan officer at BMC’s Houston office. “BMC was able to provide a loan to meet the borrower’s needs, and the loan closed very quickly.” The St. Louis-based buyer received a 10-year fixed rate with a 30-year amortization.
BMC Capital is a leading lender for multi-tenant retail loans nationwide 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.