BMC Capital originated $495,000 loan for Townley Square in Phoenix, Arizona.
Dallas, TX -- (ReleaseWire) -- 10/06/2006 --BMC Capital announced on Thursday, October 5, 2006, that it originated a $495,000 loan for the refinance of Townley Square, a 23-unit apartment complex. The property, whose units are all studio apartments, is located at 301 East Townley Avenue in Phoenix, Arizona.
Mike Callis, a loan officer at BMC Capital’s Phoenix office, originated the 10-year fixed rate loan. The Missouri owner received a 64% loan-to-value mortgage with a 30-year amortization.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest and anticipates originating at least 50 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.