BMC Capital Provides $1.5M Financing for Purchase of Victoria Condominiums in Houston
Dallas, TX -- (ReleaseWire) -- 05/09/2006 --BMC Capital announced today that it provided $1,545,000 in mortgage financing for the purchase of 96 units at Victoria Condominiums located at 12600 South Gessner Drive in Houston, Texas. Keith Van Arsdale, BMC Capital Houston, comments, “This loan was challenging as the client was purchasing 96 of 148 units (fractured condo). We provided a low fixed rate loan with minimal pre-pay penalties. Also, the structure allows the client to sell off the units individually as condos if he chooses to do so.” BMC Capital is one of the leading originators of multi-family loans in Texas and funds more than one hundred loans in the state annually.
Keith Van Arsdale, Director of BMC Capital’s Southwest Operations, coordinated the financing on behalf of the purchaser, VLB 96, LLC, a California-based investor. Russell Jones and Robert Su of Marcus & Millichap represented the buyer on this transaction.
About BMC Capital, LP
BMC Capital, LP is the country’s leading provider of multi-family, retail, commercial, and SBA 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:
Keith Van Arsdale
1330 Post Oak Boulevard, Suite 1600
Houston, TX 77056
Or visit www.bmccapital.com
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