Dallas, TX -- (ReleaseWire) -- 01/09/2008 -- BMC Capital announced on November 21, 2007, that it originated a $2,885,440 loan for the acquisition of Talmadge Manor and Tall Pines Apartments, a 115-unit multifamily apartment complex located at 4343 West Alexis Road in Toledo, OH.
“We were able to arrange a 5-year fixed rate on an 80% loan-to-value and a 30-year amortization with a step down prepay,” says Gavin Pike, a Vice President at BMC Capital’s Toledo office.
BMC Capital is the 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.