Concord Summit Capital (“CSC”), a leading intermediary between sponsors and capital providers for commercial real estate debt and equity financing, has arranged a $50 million construction loan for Vic Centre Apartments, a 268-unit Class A multifamily community in Fort Worth, Texas.
The financing was structured as an 80% loan-to-cost capital stack, combining senior construction debt with mezzanine financing — a solution designed to help the sponsor execute the development in today’s challenging lending environment.
Concord Summit Managing Director David Larson and Director Keegan Burger arranged the financing on behalf of the project sponsor, Summa Terra Ventures and M13 Construction.
Vic Centre Apartments will rise at 7124 Anderson Blvd. in East Fort Worth, a growing residential neighborhood 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.
“This project is located in one of the fastest-growing areas of the Dallas–Fort Worth Metroplex and strategically positioned to serve continued population and employment growth while providing high-quality housing within the rapidly expanding East Fort Worth submarket,” said Larson.
“Keegan and Dave have been working with this sponsor for quite some time, and we are happy to have now gotten them vertical through the closure of this loan. I applaud their tenacity and resolve, said Concord Summit Chairman and Partner Kevin O’Grady.
Concord Summit Capital is a national commercial real estate capital markets advisory firm that serves as a trusted intermediary between sponsors and providers of debt and equity capital.
With over $38 billion in closed transactions and decades of combined experience, the firm’s team delivers the relationships, discipline, and strategic insight required to consistently execute at a high level in today’s difficult market.
Concord Summit partners with entrepreneurial sponsors to structure and execute financing solutions across the capital stack, delivering the precision, creativity, and responsiveness of a boutique platform with institutional-grade execution.
The firm’s team creates financing strategies to serve the client’s needs and specializes in navigating complex transactions, structuring flexible debt and equity solutions.
With offices in five key markets – Miami, New York, Dallas–Fort Worth, Denver, and Los Angeles – Concord Summit provides a national reach with localized expertise.
