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9/22/26
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Bow River Capital acquired Dry Creek Ranch, a 456-unit multifamily community in Northlake, TX. The property, sold by Western Securities, was financed with a new loan for $53.9 mil.
Dry Creek Ranch is located on approximately 29 acres at 13861 Raceway Dr, south of Hwy 114 and just east of I-35W in one of the fastest-growing areas of the Dallas-Fort Worth metroplex. It is strategically positioned near AllianceTexas, Charles Schwab's regional headquarters, Fidelity Investments' Westlake campus and other major employment centers, with convenient access to DFW International Airport.
The community offers a mix of one-, two- and three-bedroom residences complemented by a robust amenity package, including multiple swimming pools, a fitness center, clubhouse, business center and recreational facilities.
Bow River Capital acquired Dry Creek Ranch through its BRC Multi-Family Dislocation Fund, which focuses on existing, cash-flowing apartment communities across growth-oriented Midwest and Southwest markets. Newmark Vice Chairman Adam Randall, Managing Director John Westby-Gibson and Vice President Drake Blodgett arranged the five-year, fixed-rate, full-term interest-only Fannie Mae loan for Bow River Capital.
According to Newmark Research, Dallas-Fort Worth's multifamily fundamentals remain strong, driven by population growth, job creation and sustained renter demand. The metro has added more than 643,000 jobs since 2019 and now exceeds 8.5 million residents, while a sharp decline in new apartment deliveries and elevated homeownership costs continue to support existing multifamily assets.
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