Nova Capital secures $55.85 million in financing for Darwin German Real Estate’s acquisition of The Mark at Weatherford Apartments, a 355-unit Class A multifamily property located 20 miles west of Fort Worth. The property, built in 2021 and currently 94% occupied, sits on an expansive 11.50-acre parcel adjacent to Weatherford College.
Steven Yazdani of Nova Capital arranged the financing which includes a $37.85 million Fannie Mae senior loan from Walker & Dunlop and $18 million in preferred equity from Tryperion Holdings.
Despite recent headlines, there is still strong demand from capital providers for high-quality multifamily properties in rapidly growing markets like Dallas-Fort Worth,” says Yazdani confidently. He adds that the DFW metroplex has seen significant job growth with over half a million new jobs added just last year.
Darwin German recognizes that The Mark at Weatherford is well-positioned to benefit from increasing demand for rental properties due to this exponential growth.
The article “Nova-Secured Loan Aids in Weatherford Property Purchase” originally appeared on Connect CRE.
