Dallas, TX -- (ReleaseWire) -- 04/04/2007 -- BMC Capital announced on March 26, 2007, that they closed a $2,252,000 loan for the refinance of Winds Apartments, a multifamily property located in Anchorage, AK.
“The borrower needed to secure financing for an 80% cash out refinance of the property in order to start a new condo project,” says Troy Stafford, a Vice President at BMC Capital’s Anchorage office, “and BMC Direct was able to arrange for a 30-year fixed rate mortgage with a loan-to-value of 80% and a 30-year amortization, without a FANNIE MAE guarantee.”
BMC Capital is a leading lender for small-balance multifamily loans in the North Pacific 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.