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BMC Capital Provides 1.7M Loan for a Multifamily Property in Irving...

#8212; BMC Capital announced on Friday, October 20, 2006, that it originated a $1.7 million acquisition loan for a 90-unit apartment project in Irving, Texas.



's8220;The investors sought a full leverage loan with a very aggressive fixed rate,'s8221; says Steve Sieling, a vice president at BMC Capital's8217;s Dallas headquarters. 's8220;The property's8217;s performance had been very stable over its review period, which allowed for streamlined underwriting. BMC Capital was able to help these investors exchange into the property with the proceeds from a previous sale in California.'s8221;



Sieling originated the loan in 45 days for West Coast investors, who received an 80% loan-to-value mortgage with a five-year fixed rate. The loan also featured a 30-year amortization and no escrow for replacement reserves. David Shaffer represented the seller and Ryan Wehner of North Texas Multifamily Realty represented the buyer.



BMC Capital is a leading lender for small-balance multifamily loans in Texas and anticipates originating at least 150 such transactions in 2006.



About BMC Capital, LP



BMC Capital, LP is the country's8217;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:



Steve Sieling

Vice President

4514 Cole Ave, Suite 750

Dallas, TX 75205



(214) 526-7178

ssieling @ bmccapital.com

www.bmccapital.com

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