BMC Capital announced on Monday, August 21, 2006, that it provided a $1.36 million loan for the purchase of Hutchins Palms Apartments, a 46-unit complex located at 535 Hutchins Place in San Antonio, Texas.
Dallas, TX -- (ReleaseWire) -- 08/22/2006 --BMC Capital announced on Monday, August 21, 2006, that it provided a $1.36 million loan for the purchase of Hutchins Palms Apartments, a 46-unit complex located at 535 Hutchins Place in San Antonio, Texas.
Michael Thompson, a loan officer at BMC Capital’s Houston office, originated the fixed-rate loan. The Calif.-based buyer received an 80% loan to value mortgage with a 30-year amortization. Ray Schaffer of Marcus and Millichap represented the seller in the transaction.
BMC Capital is a leading lender for small-balance multifamily loans in the Texas market and anticipates originating at least 100 such transactions in 2006.
About BMC Capital, LP
BMC Capital, LP is the country’s leading specialist for 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.