Dallas, TX -- (ReleaseWire) -- 03/08/2007 -- BMC Capital announced on Monday, March 5, 2007 that it originated a $1,614,750 loan for the refinancing of Oregon Place, a 51-unit apartment complex located at 522-550 Oregon Drive in Gulfport, MS.
“The California borrower requested the financing as part of a reverse 1031 exchange. BMC Capital was able to accommodate this unique structure and we arranged for a 5-year fixed rate mortgage at a loan-to-value of 75% with a 30-year amortization,” says Todd Davis, a Vice President at BMC Capital’s Forth Worth office.
BMC Capital is a leading lender for small-balance multifamily loans in the Southeast and anticipates originating at least 150 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, with funding capabilities up to $100 million per loan transaction. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 states.