Darwin German Real Estate Secures Financing for Texas Acquisition
- Mar 24, 2020
Darwin German Real Estate has obtained $27.4 million in debt and equity financing for the acquisition of Gold Creek Apartments, a 255-unit multifamily community in Fort Worth, Texas.
Nova Capital sourced the loan through a Freddie Mac DUS lender and equity through an internal real estate investment trust. Nova Capital’s Managing Director & Founder Steven Yazdani arranged the financing composed of a $21.4 million senior loan and $6 million in equity.
Built in 2016, the 10-building property is located at 704 Dale Lane in White Settlement, Texas. Gold Creek Apartments is a three-story property with a mix of one- and two-bedroom units and it is 97 percent leased. Amenities include barbecue/picnic areas, a business center, dog park, fitness area and sundeck. The apartments are in a gated community and sit on 11.7-acre parcel in the economic and cultural hub of North Texas.
Last November, Darwin German Real Estate Investments sold Tribecca Pointe, a 175-unit property in Hurst, Texas.