BMC Capital Provides $4.4M Loan for Rio Vista Apartments in Mesa, AZ
August 25, 2007 (PRLEAP.COM) Business NewsDallas, Texas — BMC Capital announced on August 22, 2007, that it originated a $4,450,000 loan for the refinance of Rio Vista Apartments, an 80-unit multifamily apartment complex located at 454 W. Brown in Mesa, AZ.
“The borrower asked for a cash-out refinance in order to pay off all the other partners on this deal, and we were able to arrange a 5-year fixed rate with a loan-to-value of 75% and a 30-year amortization,” says Susanna Reust, a Vice President at BMC Capital’s Phoenix office.
BMC Capital is a 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.