BMC Capital Provides $3.4M to Finance Lewiston Apartments in Toledo
BMC Capital announced today that it provided $3,395,000 in mortgage financing for the refinance of the 129 unit Lewiston Apartments located at 5507 Lewis Avenue in Toledo, Ohio. In April of 2004, the owner purchased the multi-family property. After stabilizing it and increasing the property value, the owner refinanced using a cash-out refinance mortgage. The loan had 78.5% loan-to-value and interest rate in the six percent range. BMC Capital originates hundreds of loans each year and plans on funding many...
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