VIC Partners obtained a $36.5 million primary line of credit for the construction of Vic Centre, a 268-unit workforce-housing development at 7120 Anderson Blvd. in Fort Worth outside of Loop 820 and north of Interstate 30. The project is being developed by Vic Partners and M-13 Construction.
OakNorth Bank will provide the loan as part of a $48 million joint financing with Hickory CRE Capital, a commercial real estate lender. Concord Summit Capital arranged the construction loan.Â
VIC suggests the cost of the construction will be $41.7 million.
The development will consist of nine three-story residential buildings, a clubhouse, fitness center, pickleball court and business center along with 402 parking spaces.Â
The post VIC Partners Obtains Construction Loan for 268-Unit FW Workforce Rental Community appeared first on Connect CRE.
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