Dallas, TX -- (ReleaseWire) -- 02/14/2007 --BMC Capital announced on Tuesday, February 13, 2007, that it originated a $3.9 million loan for the acquisition of Lake Powell Mobile Home Village, an 8,198,427 sq. foot property located at 1 Cameron Road in Page, Ariz.
“We were able to fund this loan quickly even though it is located in a rural area,” says Mason Whitehead, a loan officer at BMC Capital’s Dallas Headquarters. Whitehead originated a 75% loan-to-value mortgage with a five-year fixed rate for the Oregon borrower. The loan also carried a 30-year amortization and declining prepayment penalty. “BMC Capital coordinated all 3rd parties, underwriting and closing while adhering to a tight timeframe that was crucial to the sale,” says Whitehead.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest and anticipates originating at least 200 such transactions in 2007.
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:
Jonathan Morris
President
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
214.526.7178
jmorris@bmccapital.com
www.bmccapital.com
Mason Whitehead
Loan Officer
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
214.526.7178
mwhitehead@bmccapital.com
www.bmccapital.com
BMC Capital Provides $3.9M Loan for a Mobile Home Park in Page, Ariz.
BMC Capital originated a $3.9 million loan for the acquisition of Lake Powell Mobile Home Village in Page, Ariz.