REBusinessOnline

LMI Capital Arranges Two Loans Totaling $12.9M for Houston Apartment Complexes

HOUSTON — LMI Capital a Real Estate Capital Alliance (RECA) member, has arranged two loans totaling $12.9 million for apartment complexes in Houston. In the first transaction, Jamie Safier of LMI Capital placed an $8.1 million acquisition loan for a 110-unit property in the city’s Briar Forest neighborhood. The loan carried a fixed 4.6 percent interest rate and three years of interest-only payments. In the second deal, Jamie Mullin of LMI Capital arranged a $4.8 million, floating-rate bridge loan for the acquisition of a 75-unit property in west Houston. The property names and borrowers were not disclosed.

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