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8801 North City Drive

Ernesto Lopes Of Resia Secures $82 Million Loan From PGIM And Bank OZK For Development Site
FINANCEDDevelopment Site

Ernesto Lopes Of Resia Secures $82 Million Loan From PGIM And Bank OZK For Development Site

8801 North City Drive

$82,000,000

Building Size

Asset Type

Development Site

Closing

Aug 7, 2025

AI

The property asset involved in this transaction is a development site located at 8801 North City Drive in Fort Worth. The site spans approximately 8.5 acres and will include a multifamily project consisting of 464 units. This eight-story development is part of the North City master plan and will feature amenities such as a pool, fitness center, and clubhouse.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $82,000,000
  • Loan Type: Mezzanine & Senior loan
  • Lender: PGIM & Bank OZK
  • Landlord: Ernesto Lopes - Resia
  • Broker: Jesse Wright - JLL
  • Mezzanine Loan Amount: $24,000,000
  • Senior Loan Amount: $58,000,000

This transaction involves key individuals and companies including Ernesto Lopes, who represents Resia as the landlord, and Jesse Wright from JLL, who acts as the broker. PGIM Real Estate is responsible for providing the mezzanine loan, while Bank OZK supplies the senior loan, facilitating the financing requirements for this significant multifamily project.

Players

Jesse Wright

JLL

Broker

$1.6B

vol

23 deals

Broker
JLL
JLLBrokerage
PGIM
PGIM Lender
Bank OZK
Bank OZKLender
Ernesto Lopes

Ernesto Lopes

Resia

Landlord

$925.1M

vol

14 deals

Landlord

Fort Worth Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93