BMC Capital announced that it originated an $880,000 loan for the acquisition of Madison Townhomes in Fort Smith, Ark.
Dallas, TX -- (ReleaseWire) -- 10/03/2006 --BMC Capital announced on Monday, October 2, 2006, that it originated an $880,000 loan for the acquisition of Madison Townhomes. The 24-unit multifamily property is located at 2401 South 50th Street in Fort Smith, Ark., a city near the center of the Arkansas’s border with Oklahoma.
Randy Key, a loan officer at BMC Capital’s Dallas Headquarters, originated the loan for the Fort Smith-based borrower. Key was able to provide a seven-year fixed rate mortgage with a 30-year amortization at 80% loan to value. Sue Walker of Northwest Arkansas Real Development represented the buyer. Kevin King of King Realty Group represented the seller.
BMC Capital is a leading lender for small-balance multifamily loans in the Midwest and anticipates originating more than 150 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.