BMC Capital originated a $1.2 million loan for the acquisition of Northridge Apartments Harlingen, Texas
Dallas, TX -- (ReleaseWire) -- 01/24/2007 --BMC Capital announced on Wednesday, January 17, 2007, that it originated a $1.2 million loan for the acquisition of Northridge Apartments, a 46-unit complex located at 801 and 2606-2701 N. 26th Street.
Fabio Fanelli, a vice president at BMC Capital’s San Diego office, originated an 80% loan-to-value mortgage with a 10-year fixed rate for a California borrower. The loan also carried a 30-year amortization and recourse options. Michelle Fennegan from The Fennegan Group served as an intermediary and represented both the borrower and the seller.
BMC Capital is a leading lender for small-balance multifamily loans in the Midwest market and anticipates originating at least 200 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. 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:
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
2746 Ormsby Way
Vista, CA 92084