BMC Capital originated $960,000 loan for Wildwood Terrace Apartments in Florence, Alabama
Dallas, TX -- (ReleaseWire) -- 10/06/2006 --BMC Capital announced on Thursday, October 5, 2006, that it originated a $960,000 loan for the acquisition of Wildwood Terrace Apartments, a 60-unit complex located at 1247 Graham Avenue in Florence, Alabama, a city in the northwest corner of the state.
Derek Miller, a loan officer at BMC Capital’s Dallas headquarters, originated the loan for the California borrower. Miller provided a 5-year fixed rate on an 80% loan-to-value mortgage with a 30-year amortization. Diane Silk of Coldwell Banker represented the buyer. Vicky Phillips represented the seller.
BMC Capital is a leading lender for small-balance multifamily loans in the Southeast 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.