Dallas, TX -- (ReleaseWire) -- 03/12/2008 -- BMC Capital announced on January 24, 2008, that it originated a $2,880,000 loan for the refinance of North Place Duplexes, 34 contiguous duplexes located at 102-292 North Bluff Road in Athens, GA. These properties are part of a larger neighborhood comprised of rental duplexes owned by several investors.
“We were able to arrange an 80% cash-out refinance on a 5-year fixed rate with 5-year interest only and a 30-year amortization,” says Sheree Berk and Keelee Peterson, Vice Presidents at BMC Capital’s Atlanta office.
BMC Capital is a leading lender for small-balance multifamily loans in the Southeast 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 $10 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.