BMC Capital originated a $1.7 million loan for the acquisition of East Country Line Center in Ridgeland, Miss.
Dallas, TX -- (ReleaseWire) -- 11/17/2006 --BMC Capital announced on Monday, November 13, 2006, that it originated a $1.7 million loan for the acquisition of East Country Line Center, a 7,527 sq. foot two-tenant shopping center located at 940 East County Line Road in Ridgeland, Miss. The center is currently 100% occupied by a Honey Baked Ham and a Verizon Wireless store.
Shawn Givens, a loan officer at BMC Capital’s Dallas headquarters, provided the Calif.-based borrower with a 10-year fixed rate on a 70% loan-to-value mortgage. The loan also featured a 30-year amortization and built in reserves. Kevin Levine with Panorex Commercial represented the borrower. Joseph Blatner and John Glass with Marcus and Millichap represented the seller.
BMC Capital is a leading lender for small-balance multi-tenant retail loans nationwide and anticipates originating at least 150 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.