Updated Nov 9, 2026
Bow River Capital Secures $53.9 Million Loan For Dry Creek Ranch Multifamily In Northlake Texas
13861 Raceway Drive
$53,900,000
Units
456
Asset Type
MultiFamily
Closing
Nov 6, 2026
About this deal
AI
A 456-unit multifamily property located at 13861 Raceway Drive in Northlake, Texas, was financed with a $53.9 million Fannie Mae acquisition loan. The property spans 29 acres and is positioned in the Northlake market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,900,000
- Loan Type: Acquisition
- Loan Terms: five-year, fixed-rate
- Lender: Newmark
- Originators: Adam Randall, John Westby-Gibson & Drake Blodgett - Newmark
- Buyer: Bow River Capital
The loan was originated by Adam Randall, John Westby-Gibson, and Drake Blodgett, who represented the lender in this transaction, facilitating the buyer's acquisition of Dry Creek Ranch.
On the Map
$53,900,000
MultiFamily
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Players
Northlake MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93