Adam Flatto And Jonathan Schmerin Acquire 157000 Square Feet Retail Center In Fort Worth
3798 Bryant Irvin Road
Building Size
157,000 SF
Asset Type
Retail
Closing
Feb 25, 2025
AI
The retail asset, located at 3798 Bryant Irvin Road in Fort Worth, spans 157,000 square feet and occupies 12.6 acres. The property features a Whole Foods as its anchor tenant and is part of the Waterside retail center, now under new ownership following the sale from Trademark Property Company.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Buyer: Adam Flatto & Jonathan Schmerin - The Georgetown Company
- Seller: Terry Montesi - Trademark Property Company
- Brokers: Andrew Griffin, Barry Brown, Chris Gerard & Erin Lazarus - JLL
- Market: Fort Worth
This transaction adds to The Georgetown Company’s grocery-anchored retail portfolio, which now exceeds $275 million across four states. JLL Capital Markets represented the seller in this deal.
Players
Fort Worth Retail Market Snapshot
Boundary boundary · Retail · 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