Dallas, TX -- (ReleaseWire) -- 05/31/2007 -- BMC Capital announced on April 24, 2007, that it originated a $4,398,000 loan for the acquisition of French Quarter, a 104-unit apartment complex located on West North Loop Boulevard in Austin, TX.
“The borrower is an experienced California-based real estate investor familiar with the Austin market. We were able to arrange a non-recourse 5-year fixed rate on an 80% loan-to-value mortgage with a 30-year amortization,” says Patrick Short, a Loan Officer at BMC Capital’s Austin office. The seller was represented by Michael Watson of the Marcus & Millichap Austin office.
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.