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LAKE JACKSON, TEXAS — LMI Capital has secured $7 million in acquisition financing for a three-property multifamily portfolio located in tertiary markets outside of the greater Lake Jackson area, a suburb of Houston. The three garden-style communities total 315 units. Brandon Brown of LMI Capital secured three acquisition loans, each featuring a five-year term with floating interest rates that convert to fixed rates after the initial interest-only period. The undisclosed borrower, which owns a number of assets in metro Houston, plans to renovate and reposition the assets and then refinance into permanent loans upon stabilization.