NORTHLAKE, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Dry Creek Ranch, a 456-unit property in Northlake, a northern suburb of the Dallas-Fort Worth metro area. IPA’s Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware and Shelby Vosburg represented the seller, Western Securities, a Canadian real estate holding company, and procured the buyer, Denver-based Bow River Capital. Newmark arranged a $53.9 million Fannie Mae acquisition loan on behalf of Bow River. 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.
Bow River Capital has acquired the 456-unit Dry Creek Ranch in Northlake, Texas, for an undisclosed amount. The seller was Western Securities.
IPA Arranges Sale of Dry Creek Ranch in Metro Dallas-Fort Worth
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