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Concord arranges $50M construction loan for 268-unit FW apartments

The financing was structured as an 80% loan-to-cost capital stack combining senior construction debt with mezzanine financing.

Reported · Written up by our desk · Industry

Concord Summit arranged a $50 million construction loan for the Vic Centre Apartments, a 268-unit Class A multifamily community in Fort Worth, Texas, according to ConnectCRE.

The loan was placed for the project sponsor, Summa Terra Ventures and M13 Construction, with Concord Summit Managing Director David Larson and Director Keegan Burger handling the financing.

ConnectCRE said the capital stack is structured as an 80% loan-to-cost mix of senior construction debt and mezzanine financing.

The property is set to rise at 7124 Anderson Blvd. in East Fort Worth, with nine three-story buildings planned and units including studios, one-bedroom, and two-bedroom layouts.

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