Dallas, TX -- (ReleaseWire) -- 06/04/2007 -- BMC Capital announced on May 23, 2007, that it originated a $1,500,000 loan for the refinance of Heritage Heights Apartments, a 35-unit townhouse property located at 1706-1746 Teasley Lane in Denton, TX.
Don Manning, a Vice President at BMC Capital’s Denton office, provided the borrower with a 30-year fixed, fully amortized mortgage at a high loan-to-value of 77%. “We were able to provide maximum leverage for the borrower and saved him substantial money in debit service. On top of that, the loan process took us only 45 days to close,” says Manning.
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.