BMC Capital originated a $450,000 loan for the acquisition of Titian Apartments in Baton Rouge, La.
Dallas, TX -- (ReleaseWire) -- 01/09/2007 --BMC Capital announced on Friday, January 5, 2007, that it originated a $450,000 loan for the acquisition of Titian Apartments, a 20-unit 14,731 sq. foot complex located at 6665 Titian Avenue in Baton Rouge, La.
Todd Davis, a vice president at BMC Capital’s Dallas headquarters, provided the Wash. borrower with a 10-year fixed rate on an 80% loan-to-value mortgage for the recently stabilized property. The loan also carried a 30-year amortization. Tom Pate of Marcus and Millichap represented the buyer and seller.
BMC Capital is a leading lender for small-balance multifamily loans in the Southeast and anticipates originating at least 200 such transactions in 2007.
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
2800 Willing Avenue
Fort Worth, TX 76110