BMC PROVIDES $3.8M LOAN FOR APARTMENT COMPLEX IN AUSTIN

AUSTIN — BMC Capital’s Austin office has arranged a $3.8 million non-recourse loan for the acquisition of a 50-unit multifamily property in Austin. The 10-year loan features a fixed interest rate of 4.4 percent and a 30-year amortization schedule for the out-of-state buyers using a 1031 tax-deferred exchange. The loan was arranged through one of BMC’s correspondent agency relationships.