Dallas, TX -- (ReleaseWire) -- 03/11/2008 -- BMC Capital announced on February 28, 2008, that it originated a $1,424,000 loan for the acquisition of Sherwood Gardens, a 60-unit multifamily apartment complex located at 3821, 3903, and 3909 Sherwood Lane in Houston, TX.
“We were able to arrange a 10 year fixed rate with a 30 year amortization through our BMC Direct program. The loan closed in 45 days.” says Michael Thompson, a loan officer at BMC Capital’s Houston office.
BMC Capital is a 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.