Concord Summit Capital Secures $50 Million Construction Loan for Fort Worth Multifamily Development

Concord Summit Capital has successfully arranged $50 million in construction financing for the Vic Centre Apartments, a significant 268-unit multifamily development located on the east side of Fort Worth, Texas. This project, sponsored by a partnership between Summa Terra Ventures and M13 Construction, is set to deliver new housing options to the growing area. The development will consist of nine three-story buildings, offering a mix of studio, one-, and two-bedroom units. While specific details on the amenity package were not disclosed, the project aims to provide modern residential living.

The financing package, facilitated by David Larson and Keegan Burger of Concord Summit Capital, was structured with an 80 percent loan-to-value ratio, incorporating both senior and mezzanine debt. This layered approach to funding is common in large-scale residential construction, allowing for flexible capital deployment. With construction already underway, the Vic Centre Apartments are expected to reach completion within 24 months. This new development highlights continued investment in Fort Worth's housing sector, signaling robust demand and developer confidence in the local market's expansion and the viability of new residential supply.