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BMC Capital Opening Northwest Offices

SEATTLE-The Dallas, TX-based broker of multifamily, commercial, and SBA mortgages opens its first Washington office near the City of Woodway, with plans to open a second office in Downtown Seattle before the end of the month. Several other offices are planned as part of the company's West Coast expansion.

By Brian K. Miller | Updated on November 01, 2004

SEATTLE-BMC Capital is moving into the Northwest. The Dallas, TX-based broker of multifamily, commercial, and SBA mortgages has acquired the Woodway, WA multifamily brokerage business of Glenn Gioseffi and plans to open a Downtown Seattle office before the end of the month. Part of a West Coast expansion by BMC, the offices follow new locations in San Diego and San Francisco in recent weeks.Gioseffi’s two-year-old business, Woodway Apartment Corporation, is now BMC Capital NW, and Gioseffi is now a vice president within BMC. As part of the transformation, Gioseffi now also will be brokering loans for retail and industrial properties. The company’s sweet spot is loans between $500,000 to $5 million, and it can act as a lender in deals as well as a broker.Gioseffi tells GlobeSt.com the Downtown Seattle office will be in addition to his existing location in Woodway, and that it will open “in the next week or two” in the Two Union Square building at the corner of Sixth Avenue and Union Street. BMC also will be looking to extend loans to owner s and developers in the Portland, OR, region, but won’t immediately open an office there.In October, the company opened an office in Vista, CA, near San Diego. In August, it announced the opening of its first San Francisco-area office in the City of San Rafael, as well as the acquisition of Western Financial Funding Corp., a privately held commercial mortgage broker based in Denver, CO. Company president Johnathan Morris tells GlobeSt.com he plans to open an additional seven West Coast locations over the next year or so, mostly in California. At the top of the list are Los Angeles and Sacramento, he says.

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