Dallas, TX -- (ReleaseWire) -- 04/09/2007 -- BMC Capital announced on March 28, 2007, that it originated a $3,375,000 loan for the acquisition of Alderwood Apartments, a 90-unit apartment complex property located at 15425 N. 25th St. and 2502 E. Greenway Rd. in Phoenix, AZ.
Susanna Reust, a Vice President at BMC Capital’s Phoenix office, arranged a 3-year fixed rate mortgage at a loan-to-value of 75% with a 30-year amortization. “The borrower is an experienced real estate investor and a long-standing client of BMC Capital. This is the 5th financing we were able to arrange for the borrower,” says Reust.
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.