BMC Capital originated $275,000 loan for Village Centre Apartments in Wheelersburg, Ohio
Dallas, TX -- (ReleaseWire) -- 10/16/2006 --BMC Capital announced on Monday, October 16, 2006, that it originated a $275,000 loan for the cash-out refinance of Village Centre Apartments, a 12-unit complex located at 630 South Street in Wheelersburg, Ohio, a city near the state’s borders with Ky. and W. Va.
Mason Whitehead, a loan officer at BMC Capital’s Dallas headquarters, originated the loan for the California borrower, who purchased the property in 2005 and rehabilitated it prior to this refinance. Whitehead provided a three-year fixed rate loan with a 30-year amortization and a 75% loan to value.
BMC Capital is a leading lender for small-balance multifamily loans in the Midwest 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.