BMC Capital Provides $2.4M Loan for the Acquisition of Rite Aid in Waterford Township, MI

BMC Capital announced on October 5, 2007, that it originated a $2,483,000 loan for the acquisition of Rite Aid, a single-tenant retail property located at 4390 Dixie Highway in Waterford Township, MI.

“We were able to arrange a 10-year fixed rate with a 3-year interest only” says Shawn Givens, a loan-officer at BMC Capital’s Dallas headquarters. The loan featured a 70% loan-to-value and a 30-year amortization.

BMC Capital is a leading lender for small-balance single-tenant loans in nationwide and anticipates originating at least 150 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, with funding capabilities up to $100 million per loan transaction. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 states.