Summa Terra Ventures and M13 Construction obtained a $50 million construction loan for Vic Centre Apartments, a 268-unit Class A multifamily community in Fort Worth.
Concord Summit Managing Director David Larson and Director Keegan Burger arranged the financing on behalf of the project sponsor. The financing was structured as an 80% loan-to-cost capital stack, combining senior construction debt with mezzanine financing.
Vic Centre Apartments will rise at 7124 Anderson Blvd. in East Fort Worth, 15 minutes from downtown Fort Worth. The community will span nine three-story buildings, offering a mix of studios, one-bedroom and two-bedroom units, along with premium amenities.
Construction has already begun and is expected to be completed within 24 months. Â
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