Dallas, TX -- (ReleaseWire) -- 07/18/2007 -- BMC Capital announced on July 13, 2007, that it originated a $2,000,000 loan for the acquisition of Cosmopolitan Apartments, a 72-unit multifamily apartment complex located at 8502 Ahern Drive in San Antonio, TX.
Steve Sieling, a Vice President at BMC Capital’s Dallas headquarters, was able to provide a 3-year fixed rate on a 70% loan-to-value with a 30-year amortization. “The borrower had time constraints and needed a very quick closing period. BMC Capital was able to commit the transaction within 20-days of receiving third party report fees,” says Sieling.
BMC Capital is the 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.