BMC Capital originated a $2 million loan for the acquisition of Wilshire Apartments in Houston, Texas
Dallas, TX -- (ReleaseWire) -- 01/03/2007 --BMC Capital announced on Friday, December 22, 2006, that it originated a $2 million loan for the acquisition of Wilshire Apartments, a 60-unit complex located at 3304 Fountainview in Houston, Texas.
Keith Van Arsdale, the director of BMC Capital’s Houston office, originated a 75% loan-to-value mortgage for a local borrower. The loan also carried a three-year fixed rate in the mid 6% range and a 30-year amortization.
Jim Hearn, Ed Cummins and Ryan Davis of Hendricks & Partners Houston office represented the buyer, Calofe Enterpsises, LLC, and the seller, IMT Wilshire, LP.
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 Boulevard, Suite 1600
Houston, TX 77056