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DALLAS, Texas -- BMC Capital announced it originated a $3 million loan for the acquisition of a USA Travel Center located in Kingman, Ariz. The property includes a gas station, a convenience store and a Subway restaurant.
"BMC Capital is equipped to provide SBA 7a and 504 loans, like we used in this case," said Leah Alberti, a vice president in BMC Capital's Phoenix office.
The Phoenix-based buyer received an 82 percent loan-to-value mortgage. "Because of the high leverage SBA financing, the buyer was only responsible for purchasing the building's inventory," says Alberti. BMC Capital provided a 25-year variable rate loan with a 25-year amortization. Suba Narla of All Fund Mortgage represented the buyer.
BMC Capital is a leading lender for owner/user loans across the nation and anticipates originating at least 100 such transactions in 2006.