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Bow River Capital Buys 456-Unit Texas Apartment Community With $53.9 Million Financing

  • by- Zaid
  • Sep 23, 2026
Bow River Capital acquired the 456-unit Dry Creek Ranch multifamily community in Northlake, Texas, backed by $53.9 million in new financing.
Bow River Capital Buys 456-Unit Texas Apartment Community With $53.9 Million Financing

Northlake, Texas | September 23, 2026: Bow River Capital has acquired Dry Creek Ranch, a 456-unit multifamily community in Northlake, Texas, as demand for rental housing continues to be supported by population and job growth across the Dallas-Fort Worth metroplex.

The acquisition was financed with a new $53.9 million loan, adding another sizeable multifamily transaction to one of the fastest-growing housing markets in the US.


456-Unit Multifamily Property Changes Hands

Dry Creek Ranch was sold by Western Securities and is located on approximately 29 acres at 13861 Raceway Drive, south of Highway 114 and just east of I-35W.

The community offers a mix of:

  • One-bedroom apartments

  • Two-bedroom apartments

  • Three-bedroom apartments

  • Multiple swimming pools

  • Fitness centre

  • Clubhouse

  • Business centre

  • Recreational facilities

The existing asset gives the new owner an operating multifamily community in an established employment corridor rather than a ground-up development.


Why Northlake Is Attracting Multifamily Investment

The property is positioned near several major employment centres, including AllianceTexas, Charles Schwab's regional headquarters and Fidelity Investments' Westlake campus.

It also has access to DFW International Airport, strengthening its connectivity to the wider Dallas-Fort Worth employment and population base.

For multifamily owners, proximity to large employment hubs can be an important factor in maintaining renter demand.

 


$53.9 Million Loan Supports the Acquisition

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 arranged a five-year, fixed-rate, full-term interest-only Fannie Mae loan for the acquisition.

The financing was arranged by Newmark Vice Chairman Adam Randall, Managing Director John Westby-Gibson and Vice President Drake Blodgett.


DFW Has Added More Than 643,000 Jobs Since 2019

The transaction comes against a backdrop of substantial economic and demographic expansion in Dallas-Fort Worth.

According to Newmark Research, the metro has added more than 643,000 jobs since 2019 and now has a population exceeding 8.5 million.

At the same time, a decline in new apartment deliveries and high homeownership costs are supporting demand for existing rental communities.

 


What the Deal Means for Texas Multifamily Housing

The Dry Creek Ranch acquisition highlights the continued focus on existing apartment communities in high-growth markets.

For property owners and investors, the combination of employment growth, population expansion and constrained new apartment deliveries can influence the operating environment for existing multifamily assets.

However, individual property performance will continue to depend on factors such as occupancy, rents, operating costs and local housing supply.


What Happens Next

Bow River Capital will operate Dry Creek Ranch as part of its multifamily portfolio following the acquisition.

The property will remain positioned within Northlake's growing residential and employment corridor, while the broader Dallas-Fort Worth market will be closely watched as new apartment deliveries decline and renter demand continues to evolve.