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Sources Of Financing
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Sources Of Financing BMC Capital (214-526-7178) arranged an acquisition loan for $3.8 million on Woodlands Green Retail Center located in Spring, TX. The loan has an LTV of 70%, a five-year fixed rate, an amortization of 30 years, is non-recourse and has no TILC reserves. The company’s website is www.bmccapital.com.
Cohen Financial (949-252-1672) secured a bridge loan for $10.575 million, with a $2.4 million construction component, to fund the acquisition, expansion and renovation of Vegas Plaza, a center located 1.5 miles northeast of downtown Las Vegas, NV at the northwest corner of Bonanza and Easter. The borrower is Strata Vegas, LLC. The loan will provide for complete renovation of the existing 52,410 sq.ft. center, anchored by Smart & Final and Hollywood Video. The company provided the financing with a two-year term with two six-month extensions at a market rate floating over the LIBOR.
Townsend Funding Group (317-663-3370) offers commercial funding for all types of properties. The company offers loans for the following properties: multi-family/apartments, office buildings, retail, land/construction, industrial/manufacturing, hotels/motels, churches/golf courses, mixed-use properties and gas stations/bulk plants.
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