Dallas, TX -- (ReleaseWire) -- 06/08/2007 -- BMC Capital announced on May 3, 2007, that it originated a $1,120,000 (80% LTV) loan for the acquisition of Amber Woods Apartments, a 44-unit apartment complex property located on Dawn Road in Cincinnati, OH.
“With plans to acquire additional properties in the Cincinnati area, the first time buyers wanted to maximize loan proceeds with this transaction. We were able to achieve this by providing a 3 year fixed rate in the mid six percent range amortized over 30 years, which included 2 years of interest only payments,” says Patrick Short, a Loan Officer at BMC Capital’s Austin office.
BMC Capital is a leading lender for small-balance multifamily loans in the Midwest 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.