BMC Capital originated $2 million loan for Crossings at Woodland Hills in Houston, Texas
Dallas, TX -- (ReleaseWire) -- 10/10/2006 --BMC Capital announced on Friday, October 6, 2006, that it originated a $2 million loan for the acquisition of the Crossings at Woodland Hills, a 48-unit apartment complex located at 7058 Gulf Bank Road in Houston, Texas.
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. Eugene E. Vollucci represented the Wisconsin-based buyer. Scott Gray of Scott Gray Commercial Real Estate represented the seller.
BMC Capital is a leading lender for small-balance multifamily loans in Texas and anticipates originating more than 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.