LMI SECURES TWO HOUSTON MULTIFAMILY LOANS

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HOUSTON — LMI Capital has secured a total of $3.45 million for the refinancing of two multifamily communities located in Houston. In the first transaction, Jamie Mullin secured a $2.1 million loan for a community located in the Spring Branch submarket. The loan carries a 3-year term and a floor interest rate of 5 percent. In the second transaction, Brandon Brown of LMI arranged a $1.35 million loan for a 100-unit property located in the Pasadena submarket. The loan carries a 10-year term and a 6.24 percent interest rate. The lenders and borrowers in both transactions were undisclosed.

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