BMC Capital originated a $930,000 loan for Rossmore Apartmentsin Glendale, Arizona
Dallas, TX -- (ReleaseWire) -- 10/20/2006 --BMC Capital announced on Thursday, October 19, 2006, that it originated a $930,000 loan for the acquisition of Rossmore Apartments, a 26-unit complex on 6051 North 61st Avenue in Glendale, Arizona.
Mike Callis, a loan officer in BMC Capital’s Phoenix office, originated the 75% loan-to-value mortgage for the California buyer. The loan features four years of interest-only payments on a five-year fixed rate and a 30-year amortization. Both the buyer and seller were represented by Re/Max Commercial.
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest 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.