Commercial Loan News
Hospital Heights
BMC Capital, LP, Steelhead Capital Affiliate Partner Provides $935,000 Loan for Hospital Heights in Rutland, VT
SAN FRANCISCO, CA - June 26, 2007
Commercial Loan Summary:
BMC Capital, closed a $935,000 loan in Rutland, VT for the refinance of the Hospital Heights Apartments on June 26, 2007. The loan has an initial 10-year fixed rate, and is fully amortizing over 30 years. BMC Capital, LP originated the loan in conjunction with its affiliate partner, Steelhead Capital.
Josh Bailey of BMC Capital, LP was the loan originator for the transaction. The transaction required written consent from HUD to restructure the ownership interest of the tenants in common. Once this was accomplished, a HAP Contract Assignment was then executed between the lender and HUD before the transaction could be closed.
About Steelhead Capital:
Steelhead Capital is a premier provider of creative commercial loan financing for commercial real estate investors. Steelhead Capital brings an extensive network of lending sources, structured finance experience with a focus on acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's offices are located in San Francisco, CA. Company information can be found at www.steelheadcapital.com.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)