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800 W Bardin Rd Arlington, ...

Updated Oct 29, 2024

Bridgeview Multifamily Acquires Arlington And Denton Development Sites For Multifamily Projects
SOLDDevelopment Site

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

BM
Bridgeview MultifamilyBuyer

Arlington Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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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

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