BMC Capital originated a $1.9 million loan for the acquisition of Riverpointe Apartments in Dallas, Texas
Dallas, TX -- (ReleaseWire) -- 12/22/2006 --BMC Capital announced on Friday, December 22, 2006, that it originated a $1.9 million bridge loan for the acquisition of Riverpointe Apartments, a 34-unit complex located at 9823 Summerwood Circle in Dallas, Texas.
Keith Van Arsdale, director of BMC Capital’s Houston office, provided the Calif. borrower with a floating rate on an 80% loan-to-value mortgage. The loan carried a 30-year amortization. 9823 Summerwood Circle LLC was the buyer, and the seller was Dallas Riverpointe, LLC.
BMC Capital is a leading lender for small-balance multifamily loans in Texas and anticipates originating at least 200 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
Keith Van Arsdale
1330 Post Oak Blvd, Suite 1600
Houston, TX 77056