BMC Capital Provides $1.8M Loan for Cove Apartments in Oak Harbor, WA

BMC Capital announced on October 1, 2007, that it originated a $1,850,000 loan for the refinance of Cove Apartments, a 52-unit multifamily apartment complex located at 604 North Oak Harbor Boulevard in Oak Harbor, WA.

“We were able to arrange a non-recourse loan on a 10-year fixed rate and amortized over 30-years,” says Mason Whitehead, a loan officer at BMC Capital’s Dallas headquarters.

BMC Capital is the leading lender for small-balance multifamily loans in the Northwest 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.