Dallas, TX -- (ReleaseWire) -- 04/16/2007 -- BMC Capital announced on April 9, 2007, that it originated a $678,300 loan for the refinance of Braig Apartments, a 37-unit multifamily property located at 2015-2089 North Birch in Fayetteville, AR.
The loan process took only 32 days to complete from start to finish and was originated by Bart Haddad, a Vice President at BMC Capital’s Hattiesburg office. “We provided the borrower with a 10-year fixed rate mortgage at a loan-to-value of 52% with a 30-year amortization,” says Haddad.
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.