Park Ave Capital / ZNE Capital Acquires Multifamily Property In Fort Worth For $22.1M Loan From Arbor

An undisclosed multifamily property with 235 units located at 2200 Taxco Rd in Fort Worth was recently closed in a transaction. The deal was facilitated by Arbor, a lender that provided a bridge loan worth $22,075,000 to the property's landlord, Park Ave Capital / ZNE Capital. The loan terms include 75% loan-to-cost (LTC), non-recourse bridge financing, with a budgeted capital expenditure (CapEx) of nearly $18,000 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,075,000
• Address: 2200 Taxco Rd, Fort Worth
• Market: Fort Worth
• Units: 235
• Lender: Arbor
• Landlord: Park Ave Capital / ZNE Capital
• BROKERS: John Brickson (Debt - Old Capital) & Bobby Schiavone (Buyer’s Consultant) - Weichart

John Brickson from Old Capital represented the debt side of the transaction, whereas Bobby Schiavone from Weichart acted as the buyer's consultant. These key individuals played an important role in facilitating the deal.