Dallas, TX -- (ReleaseWire) -- 07/31/2006 -- BMC Capital announced on Thursday July 27, 2006, that it originated a $740,000 refinance loan for El Dorado, a 28-unit apartment complex on 2108 S. Solano Drive in Las Cruces, New Mexico, a city north of the Texas border near El Paso.
Glenn Gioseffi, BMC Capital’s Seattle-based vice president, originated the 70% loan-to-value mortgage, which features a 10-year fixed rate term with a 30-year amortization.
BMC Capital is a leading lender for 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 in providing multi-family, retail, commercial, and SBA 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.