BMC Capital announced that it originated a $1.2 million loan for the acquisition of a single-tenant retail building housing DeSoto Animal Hospital in DeSoto, Texas.
Dallas, TX -- (ReleaseWire) -- 10/02/2006 --BMC Capital announced on Friday, September 29, 2006, that it originated a $1.2 million loan for the acquisition of a single-tenant retail building housing DeSoto Animal Hospital. The 7470 sq. foot property is located at 200 North Hampton Road in DeSoto, Texas, a city 15 miles south of Dallas.
Mike Callis, a loan officer at BMC Capital’s Phoenix office, originated the 10-year fixed rate loan. The Arizona buyer received a 55% loan-to-value mortgage with a 30-year amortization. The deal took 30 days from start until closing. Len Tinnan of SJ Fowler represented the buyer.
BMC Capital is a leading lender for small-balance medical 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.