BMC Capital Provides $4.75M Loan for an Apartment Complex in Toledo, Ohio

BMC Capital announced on Monday, August 28, 2006, that it originated a $4.75 million loan for the purchase of Pine Place Apartments, a 192-unit multifamily property located at 2661 Tremainsville Road in Toledo, Ohio.

“We were able to provide a high leverage loan with a 10-year fixed rate in the mid 7% range with a 30-year amortization,” says Gavin Pike, a vice president in BMC Capital’s Toledo office. “The Ohio-based buyer had very specific terms in mind, and BMC was able to deliver on them.” The borrower received an 80% loan to value mortgage. Dick and Bruce Smenner from ReMax Central represented the seller.

BMC Capital is a leading lender for small-balance multifamily loans in the Midwest market 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
4514 Cole Ave, Suite 750
Dallas, TX 75205

(214) 526-7178
www.bmccapital.com

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