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.
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