BMC Capital Provides $1.1M Loan for the Acquisition of 2 Square Apartments in Hattiesburg, MS
June 07, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on June 5, 2007, that it originated a $1,120,000 loan for the acquisition of 2 Square, a 24-unit multifamily apartment complex located on North 37th Avenue in Hattiesburg, MS.
“We were able to arrange a 5-year fixed rate in the mid six percent range with a loan-to-value of 75% and a 30-year amortization,” says Bart Haddad, a Vice President at BMC Capital’s Hattiesburg office.
BMC Capital is a leading lender for small-balance multifamily loans in the Southeast and anticipates originating at least 150 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, with funding capabilities up to $100 million per loan transaction. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 states.