LMI CAPITAL ARRANGES $6.8M REFINANCING LOAN FOR HOUSTON-AREA APARTMENTS

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SPRING BRANCH, TEXAS — LMI Capital has arranged a $6.8 million loan for the refinancing of a 300-unit, Class C multifamily property in the Houston suburb of Spring Branch. The partial-recourse loan includes flexible prepayment options, no reserves and a fixed interest rate of 3 percent. Jamie Mullin of LMI Capital worked on behalf of the unnamed borrower to arrange the loan through a regional bank.

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