Dallas, TX -- (ReleaseWire) -- 04/06/2007 -- BMC Capital announced on March 20, 2007, that it originated a $1,472,000 loan for the acquisition of Kerrybrook Apartments, a 49-unit multifamily property located at 2622 Kerrybrook Court in San Antonio, TX.
The loan was originated by Michael Thompson, a loan officer at BMC Capital’s Houston office. Thompson states, “We provided the borrower with a 5-year fixed rate mortgage with a very competitive rate, and a 30-year amortization.” The property was purchased by California based real estate investor B n P Investments, LLC.
The buyer and seller both had local representation. Gilbert Vergara of Sylus Real Estate represented the seller and David Humes of FDH represented the buyer.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest 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.