DALLAS-BMC Capital LP, in the midst of an aggressive expansion plan, has picked off two competitors as it sets out to conquer the small to midsize commercial mortgage market in the Southeast US.

The Dallas-based BMC Capital acquired Riverhill Financial Group in Atlanta and Millennium Capital Associates LLC of Lexington, KY. Both are two-employee shops that will hold their existing locations at 1200 Abernathy Rd. in Atlanta and 2333 Alexandria Dr. in Lexington. Tim Kinney, president of the two-year-old Riverhill, remains in place as does Walter Dyminski, managing director for the seven-year-old Millennium.

The push for a coast-to-coast, brand-building presence has the office count up to nine, mostly in the West, but eight more, all in the Southeast, are expected to be bought in the next year, Jonathan Morris, BMC Capital’s president, tells GlobeSt.com. He’s already engaged in talks with two firms in Miami and Tampa, part of a plan to add four more offices this quarter. Other buyouts can be expected in and around Baltimore, Washington, DC, Nashville and metro hubs in North Carolina. “The only question for BMC is if there is a suitable candidate for acquisition,” Morris says, “or would we have to go in and build it from scratch.” That was the case in Phoenix.

Morris says BMC Capital has tripled sales volumes to about $1 billion annually in the past year with its shopping spree of small competitors. The two-year goal is to acquire 40 offices in its niche market, $500,000 to $5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.