BMC Capital originated a $1.9 million loan for the acquisition of White Rock Plaza Shopping Center in Dallas, Texas
Dallas, TX -- (ReleaseWire) -- 11/20/2006 --BMC Capital announced on Monday, November 13, 2006, that it originated a $1.9 million loan for the acquisition of White Rock Plaza Shopping Center, a two-tenant 50,000 net rentable sq. foot retail center located at 11255 Garland Road in Dallas, Texas. The property’s storefronts are currently leased by Big Lots and Jupiter Bazaar.
Keith Van Arsdale, a director at BMC Capital’s Houston office, originated an 85% combined loan-to-value mortgage with a five-year fixed rate for the Dallas borrower. The loan also featured a 25-year amortization.
The buyer was Lovejoy Enterprises Inc. and the seller was Dallas East Center, LTD.
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.
For more information on BMC Capital, contact:
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
Keith Van Arsdale
1330 Post Oak Boulevard, Suite 1600
Houston, TX 77056