2
NORTHLAKE, TEXAS — Newmark has arranged a $53.9 million Fannie Mae acquisition loan for Bow River Capital’s purchase of the 456-unit Dry Creek Ranch in Northlake, 42 miles north of Dallas. Institutional Property Advisors (IPA) represented the seller, Western Securities, a Canadian real estate holding company, and procured the Denver-based buyer. Completed in two phases in 2007 and 2014, Dry Creek Ranch is a controlled-access, three-story, garden-style property with a pool, playground, basketball court, on-site laundry facility, business center and car wash station. The average unit size is 927 square feet.