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Bow River Inks $53.9M Acquisition Loan for Northlake Apartment Sale
Newmark arranged $53.9 million in financing for the acquisition of Dry Creek Ranch, a 456-unit multifamily community in Northlake, Texas. Bow River Capital purchased the asset from Western Securities.
Newmark’s Adam Randall, John Westby-Gibson and Drake Blodgett arranged the five-year, fixed-rate, full-term interest-only Fannie Mae loan on behalf of the Bow River.
Located on approximately 29 acres, Dry Creek Ranch offers a mix of one-, two- and three-bedroom residences with amenities including multiple swimming pools, a fitness center, clubhouse, business center and recreational facilities. The community is near AllianceTexas, Charles Schwab’s regional headquarters, Fidelity Investments’ Westlake campus and other major employment centers, with convenient access to Interstate 35W, State Highway 114 and DFW International Airport.
Bow River Capital acquired Dry Creek Ranch through its BRC Multi-Family Dislocation Fund, which focuses on existing, cash-flowing apartment communities across growth-oriented Midwest and Southwest markets.
- ◦Sale/Acquisition
- ◦Financing
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