BMC Capital, LP

BMC Capital Provides $635,000 Loan for a Multifamily Property in Houston, Texas

BMC Capital originated a $635,000 loan for Sloan Street Apartments in Houston, Texas


Dallas, TX -- (ReleaseWire) -- 10/20/2006 --BMC Capital announced on Friday, October 20, 2006, that it originated a $635,000 loan for the acquisition of Sloan Street Apartments, a 32-unit multifamily property in Houston, Texas. The 21,000 sq. foot property was built in 1970 and is located at 6503 Culmore Drive and 6414 Sloan Street.

Keith Van Arsdale, a director at BMC Capital’s Houston office, provided the California borrower with a seven-year fixed rate on an 80% loan-to-value mortgage. The loan also features a 30-year amortization. Bill Garcia of Carlos Garcia Realty represented the seller.

BMC Capital is a leading lender for small-balance multifamily loans in Texas 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.