VIC Partners Secures $36.5 Million Loan From OakNorth Bank For Development Site In Fort Worth

The property asset involved in this transaction is a development site located at 7120 Anderson Boulevard in Fort Worth, Texas. The asset is set for a construction project identified as Vic Centre, which comprises 268 units designed for workforce housing. The loan amount secured for this project is $36.5 million, issued as a construction line of credit by OakNorth Bank.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $36,500,000
• Lender: OakNorth Bank
• Landlord: VIC Partners
• Broker: Concord Summit Capital
• Joint Financing Partner: Hickory CRE Capital

This transaction highlights the contributions of key representatives in the deal, including VIC Partners as the landlord. Concord Summit Capital played a crucial role in arranging the construction financing for the project, supporting the overall development initiative in Fort Worth.