Dallas, TX -- (ReleaseWire) -- 05/30/2007 -- BMC Capital announced on April 18, 2007, that it originated a $1,566,000 loan for the cash-out refinance of Courts of Swiss Apartments, a 40-unit multifamily property located at 7615 Swiss Avenue in Dallas, TX.
The loan process only took 42 days to close from start to finish and was originated by Jon Molnoskey, a Loan Officer at BMC Capital’s Dallas headquarters. “We were able to provide a 30-year, fully amortized, fixed rate mortgage at a high loan-to-value of 75%,” says Molnoskey.
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.