LMI Capital: LMI Capital Arranges $8M Acquisition Loan for Houston Apartments

HOUSTON - LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged an $8 million bridge loan for the acquisition of a 150-unit apartment community in the Houston area. The loan was structured with an 80 percent loan-to-value ratio and 2.5 years of interest-only payments. The financing includes proceeds to fund a capital improvement program. [...]