Dallas, TX -- (ReleaseWire) -- 04/09/2007 -- BMC Capital announced on March 20, 2007, that it originated a $3,800,000 loan for the acquisition of Diamond Loch Apartments, a 138-unit apartment complex property located in North Richland Hills, TX.
Josh Bailey, a Loan Officer at BMC Capital’s Dallas headquarters, provided the borrower a 30-year fixed rate loan with an 80% loan-to-value mortgage which featured a 30 year amortization. Bailey states, “We were able to provide the financing in just 37 days from start to finish on the transaction. Additionally, we were able to provide the borrower with a 3-year interest only feature.” The buyer was represented by Sophie Li of DFW Homes and the seller was represented by Steve Fithian and Scott Henderson of Sperry Van Ness.
BMC Capital is the 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.