Paradigm CRE Secures $16.992M Construction Loan For Assisted Living Facility Development

The property involved in the transaction is a Development Site located at 7000 Harris Parkway in Fort Worth. The asset type is an 88-unit Assisted Living + Memory Care Facility with a building square footage of 69,970. The loan amount secured for this project is $16,992,000, and it is a Construction Loan with terms of 70% Loan to Cost, 3 years of Interest Only payments, a 25-year Amortization schedule, and no Prepayment penalty.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $16,992,000
• Address: 7000 Harris Parkway
• Market: Fort Worth
• Asset Type: 88-unit Assisted Living + Memory Care Facility
• BSF: 69,970
• Loan Type: Construction Loan
• Loan Terms: 70% LTC, 3yrs IO, 25yr Amort, No Prepay, Prime

Adrian Edery and Sara Frankel from Paradigm Commercial Real Estate, as brokers, successfully closed on the construction financing for the development of the 88-unit Assisted Living + Memory Care Facility in Ft Worth, TX. Paradigm CRE is actively involved in securing debt nationwide across various asset classes and capital stack structures.