BMC Capital originated a $550,000 loan for Willeta Apartments in Phoenix, Ariz.
Dallas, TX -- (ReleaseWire) -- 11/13/2006 --BMC Capital announced on Monday, November 6, 2006, that it originated a $550,000 loan for the acquisition of Willeta, a 12-unit, apartment complex located at 320 East Willeta Street in Phoenix, Ariz.
Susana Reust, a vice president at BMC Capital’s Phoenix office, originated a 65% loan-to-value mortgage with a five-year fixed rate. The loan also features a 30-year amortization. Brian Smuckler of Marcus and Millichap represented the Phoenix buyer. Marcus and Millichap represented the seller.
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.
For more information on BMC Capital, contact:
3100 Monticello Avenue, Suite 400
Dallas, TX 75205