Dallas, TX -- (ReleaseWire) -- 08/23/2006 --BMC Capital announced on Monday, August 21, 2006, that it provided a $704,000 loan for the purchase of 2619 Grand Avenue Apartments, a 23,356 sq. ft., 36-unit apartment complex in Dallas, Texas.
Todd Davis, a vice president at BMC Capital’s Dallas headquarters, originated the seven-year fixed-rate loan. The Calif.-based buyers received an 80% loan to value with a 30-year amortization. David Simmons of The Vanguard Commercial Group represented the buyer. Chris Lowdon of Lowdon Realty represented the seller.
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.