Dallas, TX -- (ReleaseWire) -- 05/29/2007 -- BMC Capital announced on May 23, 2007, that it originated a $1,680,000 loan for the acquisition of South Park Apartments, a 75-unit property located at 2407 East Park Row Drive in Arlington, TX.
The California buyers are experienced real estate investors, and the financing marked their first investment in Texas. The property benefits from many recent renovations and is professionally managed by a third-party manager. Mason Whitehead and Jamie Chokas from BMC Capital’s Dallas headquarters provided the buyers with an 80% loan-to-value mortgage on a 5-year fixed rate with 3 years interest-only and a 30-year amortization. “The local seller has previously worked with BMC Capital and we are pleased to complete our 4th transaction with BEAM Real Estate, the listing agent,” says Whitehead.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest Region 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.