Press Releases

LMI Capital Arranges $5 Million in Debt for Office Building

Houston, TX:  Jamie Mullin of LMI Capital arranged $5 million in debt for the refinance of an office building in northwest Houston.  Mr. Mullin worked on behalf of the borrower to secure a 9 year loan through one of LMI Capital’s life company lending sources.  The loan features a 5% interest rate, limited recourse, and 25 year amortization.  The new loan allowed the borrower to pay off the higher cost existing debt.

LMI Capital Arranges $9.36 Million in Debt for Multifamily Property

Dallas, TX: Chris Pollard of LMI Capital arranged $9.36 million in debt for the acquisition of Parkside Village Apartments, a 256 unit property in Carrollton, TX.  Mr. Pollard worked on behalf of the borrower to secure a non-recourse bridge loan through one of LMI Capital’s life company lending sources.  The loan featured 78% leverage and 30 year amortization.  The loan includes funds to complete approximately $6,000 per unit in upgrades.

LMI Capital Arranges Debt for Multifamily Communities

Houston, TX:  Jamie Mullin of LMI Capital arranged $13 million in debt through one of LMI Capital’s Fannie Mae lending sources for the refinance of two apartment communities.  The first was for a $10 million loan for a property located on Westheimer in west Houston.  This 10 year non-recourse loan featured 75% leverage and 30 year amortization.  The second multifamily loan was for $3 million for a property in southwest Houston.  This 10 year non-recourse loan featured 30 year amortization and an interest rate below 4.5%.  Both of these loans replaced higher cost bridge debt and allowed the borrowers to recapture much of the equity they had invested into their property. 

LMI Capital Arranges Debt for 4,500+ Unit Multifamily Portfolio

Houston, TX:  Chris Pollard and Ken Lawrence of LMI Capital arranged financing for the acquisition of the CDPB multifamily portfolio in Houston and Austin.  Mr. Pollard and Mr. Lawrence worked on behalf of the borrower to secure loans from multiple lenders on the 14 property Class B portfolio.  LMI arranged debt for 7 of the properties through a national bank, 6 properties were financed through one of LMI Capital’s life insurance lenders, and the 14^th property was arranged through a regional bank.

LMI Capital Arranges Debt for 190 Unit Multifamily Community

Houston, TX:  Brandon Brown of LMI Capital arranged $5,650,000 in debt for the acquisition of Water Mill Apartments, a multifamily community in west Houston.  Mr. Brown worked on behalf of the borrower to secure a 10 year fixed rate loan with 30 year amortization.  LMI closed the non-recourse loan in less than 50 days through one of LMI Capital’s Fannie Mae lending sources.

LMI Capital Arranges Debt for 266 Unit Multifamily Community

Dallas, TX: Chris Pollard of LMI Capital arranged $5,300,000 in debt for the refinance of Villa Adora, a 266 unit multifamily community in southwest Houston.  Mr. Pollard worked on behalf of the borrower to secure a 10 year loan through one of LMI Capital’s conduit lending sources.  The non-recourse loan features 30-year amortization.  The borrower had purchased the property in 2009 and spent over $2.5 million renovating the community.  The new loan allowed them to pay off the higher cost bridge debt and recapture much of the equity they had invested into the property. 

LMI Capital Arranges Debt for Broken Condo

Houston, TX:  Jamie Mullin of LMI Capital arranged $7,000,000 in acquisition financing for a broken condo in west Houston.  Mr. Mullin worked on behalf of the borrower to secure a 3 year bridge loan through one of LMI Capital’s lending sources.  The floating rate loan features a 12 month interest only period and a floor rate of 4.75 percent.

LMI Capital Arranges CMBS Debt for 230 Unit Multifamily Property

Houston, TX:  Ken Lawrence of LMI Capital arranged $9.7 million in debt for the refinance of Pirates Landing, a multifamily community in southeast Houston.  Mr. Lawrence worked on behalf of the borrower to secure a 10 year fixed rate loan through one of LMI Capital’s conduit lending sources.  The non-recourse loan features 30 year amortization.

LMI Capital Arranges Debt for 1,000+ Unit Multifamily Community

Houston, TX:  Jamie Mullin of LMI Capital arranged $8.5 million in debt for the acquisition of a foreclosed apartment community in southeast Houston.  Mr. Mullin worked on behalf of the borrower to secure a 5 year fixed rate loan through one of LMI Capital’s lending sources.  The loan features partial recourse that burns off to zero, 30 year amortization at 75% of the purchase price, and a step down prepayment penalty. 

LMI Capital Arranges Debt for Townhome Community

Houston, TX:  Brandon Brown of LMI Capital arranged $2.45 million in debt for the acquisition of Applewood Village Townhomes, a 92 unit townhome community.  Mr. Brown worked on behalf of the borrower to secure a 2 year bridge loan with 2 additional option years through one of LMI Capital’s lending sources.  The floating rate loan includes funds to cure deferred maintenance at the foreclosed property.  The loan is interest only during the initial 24 month period and features a floor rate of 4 percent.

LMI Capital Arranges $4.4 million in Debt for Multifamily Acquisition

Dallas, TX:  Chris Pollard of LMI Capital arranged $4.4 million in debt for the acquisition of Kirkwood Park, a 160 unit multifamily community in Irving.  Mr. Pollard worked on behalf of the borrower to secure a 10 year loan through one of LMI Capital’s Fannie Mae lending sources.  The non-recourse loan features 80% leverage and 30-year amortization.

LMI Capital Arranges Debt for 233 Unit Multifamily Project

Houston, TX: Jamie Mullin of LMI Capital arranged over $5,000,000 in debt for the refinance of a 233 unit multifamily project located in Houston, Texas.  Mr. Mullin worked on behalf of the owner to secure a 10 year loan through one of LMI Capital's Fannie Mae lending sources.  The non-recourse loan featured a 4.49% fixed interest rate.

LMI Capital Arranges Debt for 306 Unit Multifamily Project

Houston, TX:  Brandon Brown of LMI Capital arranged $6,265,000 in debt for the acquisition of Westheimer Terrace, a 306 unit multifamily community.  Mr. Brown worked on behalf of the borrower to secure a 3 year bridge loan through one of LMI Capital’s lending sources. The floating rate loan features a 24 month interest only period and a floor rate of 5.75 percent. 

LMI Capital Arranges $8.8 million in Debt for Multifamily Acquisitions

Dallas, TX:  Chris Pollard of LMI Capital arranged $8.8 million for the acquisition of three multifamily properties through one of LMI Capital’s Fannie Mae lending sources.  Each of the fixed rate loans are non-recourse to the borrower.  The three properties are: The Oaks, a 147 unit community in Balch Springs; Villa Marquis, a 142 unit community in Farmers Branch; and Chaparral, a 118 unit community in Lubbock.

LMI Capital Arranges Debt for 187 Unit Multifamily Project

Houston, TX: Jamie Mullin of LMI Capital helped a local borrower pay off a bridge loan that was maturing.  Mr. Mullin arranged $4,196,000 in debt for the refinance ofthe 187 unit multifamily project in southwest Houston.  The borrower, a family owned partnership, purchased the property in 2006 and had funded over $2 million in renovations out of pocket.  The renovations, both curing deferred maintenance and strategic upgrades, had helped to more than double collections since when they had acquired it.  The $22,438 per door loan allowed the owners to recapture much of the equity they had put into the 37year old property, addressing a challenge faced by many proactive owners. Mr. Mullin worked on behalf of the borrower to secure a 10 year, non-recourse, fixed rate loan through one of LMI Capital's Fannie Mae lending sources.

LMI Capital Arranges Debt for 162 Unit Multifamily Project

Houston, TX:  Brandon Brown of LMI Capital arranged $2,700,000 in debt for the acquisition of Colony Oaks, a 162 unit multifamily community.  Mr. Brown worked on behalf of the borrower to secure a 3 year loan with a 3 year option through one of LMI Capital’s life company lending sources.  The limited recourse loan featured a 4.71% fixed interest rate.

LMI Capital Arranges Debt for 210 Unit Multifamily Project

Dallas, TX: Chris Pollard of LMI Capital arranged $4,700,000 in debt for the refinance of Villa Vista Apartments, a 210 unit multifamily project located in Dallas, Texas.  Mr. Pollard worked on behalf of the borrower to secure the 10 year fixed rate loan through one of LMI Capital's Fannie Mae lending sources.  The non-recourse loan featured a 4.91% fixed interest rate.

LMI Capital Arranges $17.04 million in Debt for Houston Multifamily Properties

Houston, TX: Brandon Brown of LMI Capital helped local borrowers pay off bridge loans that were maturing. Mr. Brown arranged $17,040,000 in debt through Fannie Mae for the refinance of three Houston-area apartment communities. Each of the loans features a 7 year term and is non-recourse to the borrower.  The three properties are the 254 unit Braes Hollow Apartments in southwest Houston, 262 unit Solano Apartments in Webster, and the 244 unit Red Pines Apartments in Pasadena. 

LMI Capital Arranges Debt for 327 Unit Multifamily Project

Dallas, TX:  Chris Pollard of LMI Capital arranged $2,925,000 in debt for the acquisition of Sanger Oaks, a 327 unit multifamily project located in Waco, Texas.  Mr. Pollard worked on behalf of the buyer to secure the loan, which included capital improvement funds for interior and exterior upgrades.  The 2 year, non-recourse, floating rate loan was arranged through one of LMI Capital's lending sources.

LMI Capital Arranges Debt for 256 Unit Multifamily Project

Houston, TX:  Brandon Brown of LMI Capital arranged $8,000,000 in debt for the refinance of Palms at Kirkwood, a 256 unit multifamily community.  Mr. Brown worked on behalf of the borrower to secure a 7 year non-recourse loan through one of LMI Capital's Fannie Mae lending sources.  LMI processed the loan in just over 3 weeks to meet the borrower's tight closing timeline. 

LMI Capital Arranges Note Acquisition Financing for 380 Unit Multifamily Project

Houston, TX:  Jamie Mullin of LMI Capital arranged over $3,500,000 for the purchase of a note secured by a 380 unit multifamily project located in Houston, Texas.  Mr. Mullin worked on behalf of the buyer to secure the interest only funds throughone of LMI Capital's private lending sources.

 LMI Capital Arranges Debt for 135 Unit Multifamily Project

Houston, TX:  Brandon Brown of LMI Capital arranged $2,850,000 in debt for the acquisition of Fairfield Cove, a 135 unit multifamily community.  Mr. Brown worked on behalf of the borrower to secure a 3 year bridge loan with a 1 year option through one of LMI Capital's lending sources.  The floating rate loan features a 12 month interest only period and a floor rate of 4%.

LMI Capital Arranges Debt for Three Property Portfolio

Houston, TX:  Brandon Brown of LMI Capital arranged $3,000,000 in debt for the refinance of Candlelight Manor, Candlelight Garden, and Candlelight Estates.  The three multifamily properties, located in Houston, total 220 units.  Mr. Brown worked on behalf of the owner to secure a 5 year loan with a 5 year option through one of LMI Capital’s life company lending sources.  The limited recourse loan featured a 4.51% fixed interest rate. 

 LMI Capital Arranges Debt for 129 Unit Multifamily Project

Houston, TX: Brandon Brown of LMI Capital arranged $4,350,000 in debt for the acquisition of Trafalgar West, a 129 unit multifamily project located in Houston, Texas.  Mr. Brown worked on behalf of the owner to secure a 5 year loan with a 5 year option through one of LMI Capital's life company lending sources.  The loan featured a 4.31% fixed interest rate. 

LMI Capital Arranges Debt for 62 Unit Multifamily Project

Dallas, TX:  Chris Pollard of LMI Capital arranged $3,065,000 in debt for the refinance of Oak Grove Apartments, a 62 unit multifamily project located in Austin, Texas.  Mr. Pollard worked on behalf of the borrower to secure the 10 year, non-recourse, fixed rate loan through one of LMI Capital's Fannie Mae lending sources.  

LMI Capital Arranges Debt for 544 Unit Multifamily Project

Houston, TX:  Ken Lawrence of LMI Capital arranged $4,600,000 in debt for the purchase of the note for Oxford Apartments, a 544 unit multifamily project located in Houston, Texas. Mr. Lawrence worked on behalf of Juniper Gulf Freeway Manager, LLC to secure the interest only loan through one of LMI Capital's hard money lending sources.  Both the nature of the transaction- obtaining financing to purchase a note- and the condensed timeframe posed a challenge, but LMI was able to quickly identify a hard money lender that closed the loan in just over one week.     

LMI Capital Arranges Debt for 220 Unit Multifamily Project

Houston, TX:  Brandon Brown of LMI Capital arranged $5,775,000 in debt for the acquisition of Seatree Apartments, a 220 unit multifamily project located in Seabrook, Texas.  Mr. Brown worked on behalf of NASA Road Apartments, LLC to secure the assumption of the existing Freddie Mac loan on the property.