LMI Capital Closes $7M Loan for Refinancing of Student Housing Property in Bryan

BRYAN, TEXAS — Kurt Dennis and Ken Lawrence of LMI Capital has arranged $7 million in debt for the refinancing of a student housing complex in Bryan. The Class B property is located a few blocks from the Texas A&M campus. On behalf of the borrower, Dennis obtained a 10-year, fixed-rate nonrecourse loan that provided cash out proceeds to the client and features a three-year interest-only period.