BMC Capital announced that it originated a $3 million loan for the acquisition of a USA Travel Center in Kingman, Ariz.
Dallas, TX -- (ReleaseWire) -- 09/29/2006 --BMC Capital announced on Monday, September 25, 2006, that it originated a $3 million loan for the acquisition of a USA Travel Center located at 953 West Beale Street in Kingman, Ariz., a town 100 miles south of Las Vegas on I-40. The property includes a gas station, a convenience store, and a Subway restaurant.
“BMC Capital is equipped to provide SBA 7a and 504 loans, like we used in this case,” says Leah Alberti, a vice president in BMC Capital’s Phoenix office. The Phoenix-based buyer received an 82% loan-to-value mortgage. “Because of the high leverage SBA financing, the buyer was only responsible for purchasing the building’s inventory,” says Alberti. BMC Capital provided a 25-year variable rate loan with a 25-year amortization. Suba Narla of All Fund Mortgage represented the buyer.
BMC Capital is a leading lender for owner/user loans across the nation and anticipates originating at least 100 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.