BMC Capital Provides $952,000 Loan for Copper House Apartments in Tucson, AZ.
June 14, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on June 6, 2007, that it originated a $952,000 loan for the refinance of Copper House, a 29-unit multifamily apartment complex located on North Tucson Boulevard in Tucson, AZ.
“We were able to provide maximum leverage for the borrower by providing a 5-year fixed rate with a 76% loan-to-value mortgage and a 40-year amortization,” says Mike Callis, a Vice President at BMC Capital’s Phoenix office.
BMC Capital is the leading lender for small-balance multifamily loans in the Southwest 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.