The Bancorp Bank Provides $13M Bridge Loan For 158-Unit Multifamily Property In Fort Worth

The multifamily property located at 1200 East Seminary Drive in Fort Worth has recently been involved in a loan transaction. The property consists of 158 units with a total square footage of 116,762. The loan was provided by The Bancorp Bank in the amount of $13,020,000. It is a bridge loan with non-recourse terms and a fixed interest rate. The loan term is 3+1+1.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $13,020,000
• Units: 158
• Square Feet: 116,762

In this loan transaction, the lender, The Bancorp Bank, provided the necessary funds to the landlord, Harris Investment Group. The brokers involved in the deal were John Brickson from McKinney Realty Capital and Mark Allen from GREA.