BMC Capital Provides $245,000 Loan for Kings Highway Apartments in Dallas, TX
June 17, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on June 8, 2007, that it originated a $245,000 loan for the refinance of Kings Highway Apartments, an 8-unit apartment complex located at 1122 Kings Highway in Dallas, TX.
“This was a cash-out refinance on a construction take-out loan. We provided the borrower with a 10-year fixed rate with a 70% loan-to-value and a 30-year amortization,” says Mason Whitehead, a loan officer at BMC Capital’s Dallas office. “And we were able to close in just over 30 days to meet the construction lender’s tight timeline.”
BMC Capital is a leading lender for small-balance multifamily loans in the Southwest and anticipates originating at least 150 such transactions in 2007.