Dallas, TX -- (ReleaseWire) -- 06/09/2007 -- BMC Capital announced on May 17, 2007, that it originated a $560,000 loan for the acquisition of Shiloh Apartments, a 25-unit apartment complex located on Phinney Avenue in Cockrell Hill, TX.
Steve Sieling, a Vice President at BMC Capital’s Dallas headquarters provided the first time commercial buyers with a 30-year fixed rate, fully amortized mortgage with a loan-to-value of 80%. “Strong cash flows aided in the underwriting and we were able to exceed the borrowers’ expectations by providing a 30-year fixed rate note with a flexible step down prepayment structure,” says Sieling. 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.