Dallas, TX -- (ReleaseWire) -- 02/07/2008 -- BMC Capital announced on January 31, 2008, that it originated a $3,800,000 loan for the acquisition of Park Dale Garden Apartments, a 224-unit apartment complex located at 9701 Dale Crest Drive in Dallas, TX.
“This was the California buyer’s first purchase in Texas,” says Patrick Short, a loan officer at BMC Capital’s Austin office. We were able to arrange a 10-year fixed rate amortized over 30 years with only a 5-year declining prepayment penalty to provide more flexibility in their hold strategy,” says Short.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest and anticipates originating at least 150 such transactions in 2008.
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.