Dallas, TX -- (ReleaseWire) -- 05/30/2006 --BMC Capital announced today that it provided $3,150,000 in mortgage financing for the purchase of the 72-unit Williams Landing Apartments located at 15266 South Power Road in Higley, Arizona. The town of Higley is a rapidly growing area in the southeast section of metro Phoenix’s East Valley. The property is located near the soon to open Loop Highway 202, also known as the San Tan Freeway. BMC Capital’s Mike Callis arranged for a 79% loan-to-value mortgage with a five-year fixed rate and a 30-year amortization.
Mike Callis is Vice President with BMC Capital and based in Phoenix, Arizona. He coordinated the financing on behalf of the borrower. Gloria Tirone of Arizona Commercial Real Estate represented both the buyers and sellers of the property on this transaction.
About BMC Capital, LP
BMC Capital, LP is the country’s leading provider of multi-family, retail, commercial, and SBA mortgage loans in the $500,000 to $5 million range. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 States.
For more information on BMC Capital, contact:
4514 Cole Ave, Suite 750
Dallas, TX 75205
Or visit www.bmccapital.com