Dallas, TX -- (ReleaseWire) -- 12/01/2006 --BMC Capital announced on Monday, November 20, 2006, that it originated a $2.4 million loan for the acquisition of an 8,933 sq. foot building housing a Damon’s Grill at 3150 Boardwalk Street in Ann Arbor, Mich.
“The borrowers were looking for a long-term fixed rate and a minimal prepay,” says Shawn Givens, a loan officer at BMC Capital’s Dallas headquarters. Givens provided the Calif. borrower with a 10-year fixed rate on a 70% loan-to-value mortgage. The loan also featured a 25-year amortization and a minimal prepay for the life of the loan “BMC Capital is able to lock interest rates prior to ordering third parties on many single tenant non credit transactions, which you don’t see very often on conventional non conduit loans like this one,” says Givens. Chad Kimerer of Sperry Van Ness represented the borrower. Chris Peters of Capital Pacific represented the seller.
BMC Capital is a leading lender for NNN and retail loans nationwide 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.
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
Shawn Givens
Loan Officer
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
214.432.1069
sgivens@bmccapital.com
www.bmccapital.com
BMC Capital Provides $2.4M Loan for a Damon’s Grill in Ann Arbor, Mich.
BMC Capital originated a $2.4 million loan for the acquisition of a building housing a Damon’s Grill in Ann Arbor, Mich