BMC Capital Provides $1.24M for Purchase of Colony Apartments in Toledo, Ohio
BMC Capital announced today that it provided $1,240,000 in mortgage financing for the purchase of the 48-unit Colony Oaks Apartments located at 2450 West Central Avenue in Toledo, Ohio. Gavin Pike of BMC Capital arranged for an 80% loan-to-value mortgage to have a ten-year fixed rate in the six percent range and a 30-year amortization. BMC Capital is a leading lender in the Ohio market and plans on funding more than 50 loans in the state in 2006.
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