GenWealth CapCo Provides $3.7M Bridge Loan For Fort Worth Development Site
$3,689,135
$1/SF
Building Size
3,459,535 SF
Asset Type
Development Site
Closing
May 31, 2023
AI
GenWealth CapCo has approved a 12-Month Term Loan at 60% Loan to Value (LTV) for the development of a multifamily property in Fort Worth. The loan amount is $3,689,135, and it is classified as a Bridge Loan. This financing will be used to support the construction of the development site, which is located in the Fort Worth market.
Summary of transation details
- Property Type: Development Site
- Loan Amount: $3,689,135
- Loan Type: Bridge Loan
- Loan Terms: 12-Month Term at 60% LTV
- Lender: GenWealth CapCo
GenWealth CapCo played a crucial role in facilitating the loan agreement for the development site in Fort Worth. With their expertise in real estate lending, they were able to secure approval for the 12-Month Term Loan, based on a Loan to Value ratio of 60%. This initiative will enable the client to proceed with the planned construction of the multifamily property, further enhancing the residential options available in the Fort Worth market.
Players
Market 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
4.30%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93