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Nova Capital Secures $55.85M Loan For Darwin German's Acquisition Of The Mark At Weatherford Apartments

Property Image
FINANCED
$55,850,000
Steven Yazdani
DG

Texas

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MultiFamily
Financed 09/19/2023
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Property Image
FINANCED

Nova Capital Secures $55.85M Loan For Darwin German's Acquisition Of The Mark At Weatherford Apartments

172 College Park Drive

See Similar Deals
MultiFamily
Financed 09/19/2023
Steven Yazdani
DG
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

The Mark at Weatherford Apartments, located at 172 College Park Drive in Weatherford, Texas, was recently acquired by Darwin German Real Estate. The multifamily property consists of 355 units and is classified as Class A.

Summary of transaction details

Nova Capital, represented by broker Steven Yazdani, secured $55.85 million in financing for Darwin German Real Estate's acquisition of The Mark at Weatherford Apartments. The loan package includes a $37.85 million senior loan from Walker & Dunlop, provided by Fannie Mae, and $18 million in preferred equity from Tryperion Holdings. This investment will enable Darwin German Real Estate to purchase and continue operating the Class A multifamily property.

Players

Steven Yazdani
Nova Capital
Steven Yazdani
4 deals$116.5M volume(310) 388-1822
BROKER
Walker & Dunlop
Walker & Dunlop
LENDER
Tryperion Holdings
Tryperion Holdings
LENDER
DG
Darwin German
2 deals$55.9M volume
LANDLORD

Details

FINANCED
IMAGE: Jeffrey Karsh, Darwin German & Steven Yazdani DATE: 09/19/2023 ADDRESS: 172 College Park Drive MARKET: Weatherford ASSET TYPE: Multifamily ~ UNITS: 355 LENDER: Walker & Dunlop; Tryperion Holdings - Jeffrey Karsh (@jeffkarsh) LANDLORD: Darwin German Real Estate - Darwin German BROKER: Steven Yazdani - Nova Capital LOAN AMOUNT: $55,850,000 LOAN TYPE: Acquisition Loan NOTE: Nova Capital secured $55.85 million in financing for Darwin German Real Estate to buy The Mark at Weatherford Apartments in Texas. This includes a $37.85 million Fannie Mae senior loan from Walker & Dunlop and $18 million in preferred equity from Tryperion Holdings for the 355-unit Class A multifamily property.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$55,850,000.00

Monthly NOI$372,333.33
Monthly Debt Service$353,009.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00