BMC Capital announced that it originated a $790,000 loan for the purchase of Glenbrook Apartments in San Antonio, Texas.
Dallas, TX -- (ReleaseWire) -- 09/25/2006 --BMC Capital announced on Monday, September 25, 2006, that it originated a $790,000 loan for the purchase of Glenbrook Apartments, a 26-unit multifamily property located at 211 Natalen Street in San Antonio, Texas.
Keith Van Arsdale, Director of BMC Capital’s Southwest Operations, arranged the financing for the New York-based buyer. Van Arsdale was able to provide a five-year fixed rate, 74% loan to value mortgage with a 30-year amortization. Ann Buffington with BK Properties represented the buyer, and Jarrett Lamb of JVL Investments represented the seller.
BMC Capital is the leading lender for small-balance multifamily loans in the Texas 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 multifamily, commercial, owner/user and hospitality 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.