Dallas, TX -- (ReleaseWire) -- 07/26/2006 --BMC Capital announced on Tuesday July 25, 2006, that it originated a $2.5 million dollar loan for a cash-out refinance of the Shannon Ridge Apartments, a 112-unit multifamily property located at 5141 Shenandoah Avenue in Jacksonville, Fla.
“Refinancing is a sound move with the current interest and Treasury rates,” says Derek Miller, a loan officer at BMC Capital’s Dallas office. Miller, who originated the loan for a Ft. Lauderdale-based borrower, arranged a mortgage with a 76% loan to value, fixed for five years with a 30-year amortization.
BMC Capital is a leading originator of refinance loans in the Southeast and expects to originate at least 50 similar transactions in the region this year.
About BMC Capital, LP
BMC Capital, LP is the country’s leading specialist in providing 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