BMC Capital originated a $915,000 loan for Cambridge Terrace Apartments in Arlington, Texas
Dallas, TX -- (ReleaseWire) -- 10/31/2006 --BMC Capital announced on Friday, October 27, 2006, that it originated a $915,000 loan for the acquisition of Cambridge Terrace Apartments, a 37-unit property located at 701 East Rogers Street in Arlington, Texas.
Randy Key, a loan officer at BMC Capital’s Dallas headquarters, provided the California borrower with a 10-year fixed rate on a 75% loan-to-value mortgage. The loan also features a 30-year amortization. John Kesner from Texas Income Properties represented the buyer, and Scott Gigliotti 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.