Financing Achieves “Flexibility” for Darwin German Acquisition
Los Angeles-based Nova Capital secured $27.385 million in debt and equity financing on behalf of Darwin German Real Estate Investments to acquire Gold Creek Apartments, a 255-unit Class A multifamily property in Dallas.
The financing, arranged by Nova founder Steven Yazdani, comprises a $21.385 million senior loan and $6 million in equity. The senior loan came from one of the nation’s largest Freddie Mac DUS lenders, while the equity was provided by an internally managed REIT.
“The challenge in this market is not availability of capital – it’s achieving the right flexibility in terms and structure,” said Yazdani. “By identifying multiple sources of debt and equity, the Nova Capital team was ultimately able to create a capital stack that met each of the client’s needs for this acquisition.”
Built in 2016, Gold Creek Apartments is 97% occupied and is situated on an 11.671-acre parcel.
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