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Tony Ruggeri Of Republic Property Group Secures $52.3M Loan For Development Site In Grand Prairie

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FINANCED
$52,300,000

Texas

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Development Site
Financed 07/29/2024
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FINANCED

Tony Ruggeri Of Republic Property Group Secures $52.3M Loan For Development Site In Grand Prairie

4115 South Great Southwest Parkway

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Development Site
Financed 07/29/2024
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Development Site
Transaction Type:Loan

The property involved in this transaction is a development site located at 4115 South Great Southwest Parkway in Grand Prairie. The total loan amount secured for this construction project is $52,300,000, which is designated for the development of two build-to-rent communities, including the Villas at Bardin.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $52,300,000
  • Loan Type: Construction Loan
  • Landlord: Tony Ruggeri - Republic Property Group
  • Broker: Adam Mengacci - Institutional Property Advisors
  • Equity Amount: $10,400,000 in preferred equity

The financing for this project was arranged by IPA Capital Markets, with Adam Mengacci from IPA's Dallas office playing a crucial role in facilitating both the loans and the preferred equity for Republic Property Group.

Players

Adam Mengacci
Institutional Property Advisors
Adam Mengacci
6 deals$153.5M volume
BROKER

Details

FINANCED
IMAGE: Tony Ruggeri & Adam Mengacci DATE: 07/29/2024 ADDRESS: 4115 South Great Southwest Parkway MARKET: Grand Prairie ASSET TYPE: Development Site LANDLORD: Tony Ruggeri - Republic Property Group BROKER: Adam Mengacci - Institutional Property Advisors LOAN AMOUNT: $52,300,000 LOAN TYPE: Construction Loan NOTE: IPA Capital Markets secured $52.3 million in financing for the construction of two build-to-rent communities, including the Villas at Bardin in Grand Prairie. Adam Mengacci of IPA's Dallas office facilitated the loans and $10.4 million in preferred equity for Republic Property Group.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$52,300,000.00

Monthly NOI$348,666.67
Monthly Debt Service$330,571.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00