REBusinessOnline

LMI Capital Arranges Two Acquisition Loans Totaling $39M for Corpus Christi Apartments

CORPUS CHRISTI, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged two acquisition loans totaling $39 million for a pair of multifamily assets in Corpus Christi. In the first transaction, Brandon Brown of LMI Capital placed a $16 million, nonrecourse loan for a 190-unit property. The loan carried a 4.47 percent interest rate and four years of interest-only payments. In the second deal, Brown arranged a $23 million bridge loan for a 265-unit community, which was structured with a floating interest rate and three years of interest-only payments. The borrowers and property names were not disclosed.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

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