Dallas, TX -- (ReleaseWire) -- 01/30/2007 --BMC Capital announced on Sunday, January 21, 2007, that it originated a $1.1 million loan for the acquisition of Northtown Square Apartments, an 80-unit 40,320 sq. foot apartment building located at 333 W. 21st North in Wichita, Kan.
Mason Whitehead, a loan officer at BMC Capital’s Dallas headquarters, originated an 80% loan to value mortgage with a five-year fixed rate for the California borrower’s first acquisition in the Midwest. The loan also carried a 30-year amortization and a three-year prepay period. BMC Capital also coordinated the asset management agreement for this property. Paul Daemen of Plaza Real Estate, Inc. represented the buyer.
BMC Capital is a leading lender for small-balance multifamily loans in the Midwest 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:
Jonathan Morris
President
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
214.526.7178
jmorris@bmccapital.com
www.bmccapital.com
Mason Whitehead
Loan Officer
3100 Monticello Avenue, Suite 400
Dallas, TX 75205
214.526.7178
mwhitehead@bmccapital.com
www.bmccapital.com
BMC Capital Provides $1.1M Loan for a Multifamily Property in Wichita, Kan.
BMC Capital originated a $1.1 million loan for the acquisition of Northtown Square Apartments in Wichita, Kan.