BMC Capital Provides $2.2M Loan for the Acquisition of Tradewind Villas in San Antonio, TX
June 14, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on June 12, 2007, that it closed a $2,248,000 loan for the acquisition of Tradewind Villas, a 73-unit multifamily property located at 423 Vance Jackson Road in San Antonio, TX.
“Through our in-house BMC Direct program we were able to provide a 5-year fixed rate in the mid 6% range with a 30-year amortization,” says Michael Thompson, a loan officer at BMC Capital’s Houston office. Jason Brumm of Grubb & Ellis represented the buyer and Scott Rosales of Grubb & Ellis represented the seller.
BMC Capital is the leading lender for small-balance 150 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.