Updated Oct 29, 2024
Bridgeview Multifamily Acquires Arlington And Denton Development Sites For Multifamily Projects
800 W Bardin Rd Arlington, TX 76017, USA
Units
250
Asset Type
Development Site
Closing
Sep 5, 2023
About this deal
AI
Bridgeview Multifamily, led by Rob Anderson, has recently made an acquisition in the Arlington and Denton markets. The purchase includes a 6.34-acre tract in Arlington for the development of Mercantile Lofts, a 250-unit class A project. Additionally, the company has acquired a 22-acre site in Denton for an upscale project consisting of 360 residential units.
Summary of transaction details
- Property Type: Development Site
- Acreage: 28.34 acres
- Address: 800 West Bardin Road (Arlington) & 3755 McKinney Street (Denton)
- Market: Arlington & Denton
Bridgeview Multifamily's acquisition of the Arlington tract marks the development of Mercantile Lofts, a 250-unit class A project. The upscale project in Denton, spanning 22 acres, will comprise of 360 residential units. Rob Anderson, representing Bridgeview Multifamily, led the negotiations for these projects.
Players
Arlington Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93