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

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.