GenWealth CapCo Provides $3.7M Bridge Loan For Fort Worth Development Site
FINANCED
$3,689,135
Texas
See Similar DealsDevelopment Site3,459,535 SF
Financed 05/31/2023
FINANCED
GenWealth CapCo Provides $3.7M Bridge Loan For Fort Worth Development Site
Development Site3,459,535 SF
Financed 05/31/2023
Summary
TEXAS
Asset Type:Development Site
Price Per Square Foot:$1
Total Square Footage:3,459,535 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,689,135.00
Monthly NOI$24,594.23
Monthly Debt Service$23,317.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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