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HOUSTON — The Woodlands, Texas-based LMI Capital has secured two Houston multifamily loans totaling $29.62 million. The first is a $21.8 million loan secured by 7979 Westheimer Apartments, a 459-unit property. The loan carries a 7-year fixed rate, a 30-year amortization schedule and 3 years of interest-only payments, and will contribute to the refinancing of the property. Jamie Mullin of LMI arranged the funding on behalf of the borrower with the lender, Column Guaranteed.
Additional, LMI arranged $7.82 million in acquisition financing for the 256-unit Waters at Kirkwood Apartments. Brandon Brown of LMI arranged the loan on behalf of Waters Partners LLC. The lender is Greystone Servicing Corp. Terms of the financing were not disclosed.