BMC Capital Provides $3.23M Loan for a Multifamily Property in Jackson, Miss.

Dallas, Texas — BMC Capital announced that it originated a $3.23 million loan for the acquisition of Glen Oaks, a 192-unit 190,000 sq. foot apartment complex located at 850 Lindbergh Drive in Jackson, Miss.

“BMC was able to provide a non-recourse bridge loan, which was a compelling option for the borrower,” says Todd Davis, a vice president at BMC Capital’s Dallas headquarters. Davis provided the California borrower with a 12-month term, interest-only, adjustable rate on an 85% loan-to-cost mortgage. “Our capabilities in multi-family lending enabled the borrower to finance acquisition and rehab costs for a value-added project with a loan which provides for an easy transition to permanent financing with no prepayment penalty,” says Davis. Mark Vincent of Prudential CRES Commercial Real Estate represented the seller.

BMC Capital is a leading lender for small-balance multifamily loans in the Southeast and anticipates originating at least 200 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. Headquartered in Dallas, BMC Capital has offices around the country and finances real estate in all 50 states.

For more information on BMC Capital, contact:

Jonathan Morris
President
3100 Monticello Avenue, Suite 400
Dallas, TX 75205

214.526.7178
jmorris@bmccapital.com
www.bmccapital.com

Todd Davis
Vice President
3100 Monticello Avenue, Suite 400
Dallas, TX 75205

214.526.7178
tdavis@bmccapital.com
www.bmccapital.com


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