BMC Capital announced that it originated an $853,500 loan for the purchase of Lakeview Pointe Apartments in Montgomery, Texas.
Dallas, TX -- (ReleaseWire) -- 09/26/2006 --BMC Capital announced on Monday, September 25, 2006, that it originated an $853,500 loan for the purchase of Lakeview Pointe Apartments, a 28-unit multifamily property located at 14949 Highway 105 in Montgomery, Texas, a city 55 miles northwest of Houston.
Keith Van Arsdale, Director of BMC Capital’s Southwest Operations, arranged the financing. Van Arsdale was able to provide a five-year fixed rate, 75% loan to value mortgage with a 30-year amortization. Chris Robinson of Marcus and Millichap’s San Diego office represented the buyer, a California-based investor. Robert Su of Marcus & Millichap’s Houston office represented the seller’s
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.