Nova Capital, a Los Angeles-based real estate capital advisory firm, has secured a combined $55.85 million in financing on behalf of Darwin German Real Estate, a full service real estate investment firm that specializes in multifamily investments, for the acquisition of The Mark at Weatherford Apartments, a 355-unit Class A multifamily property in Weatherford, Texas.
The financing, arranged by Nova Capital Managing Director and Founder Steven Yazdani, comprises a $37.85 million Fannie Mae senior loan from Walker & Dunlop and $18 million in preferred equity from Tryperion Holdings.
“Despite the headlines, appetite from capital providers for high-quality multifamily product remains strong, especially in high-growth markets such as Dallas-Fort Worth,” said Yazdani. ”The DFW metroplex is leading the nation in job growth with 650,000 new jobs added in 2023.
Built in 2021, The Mark at Weatherford is 94% occupied and is situated on an 11.50-acre parcel adjacent to Weatherford College. Located at 172 College Park, the apartment community offers a mix of one-, two-, and three-bedroom floor plans with a host of modern amenities, including community barbeque/picnic areas, resort-style pool, business center, dog park and fitness center.
