DLP Capital Funds Loan for Avilla Lockwood Development
DLP Capital is proud to announce the successful closing of a land loan to NexMetro Communities through the DLP Lending Fund.
This strategic financing will support the acquisition of 17.8 acres of land and cover early-stage soft costs for Avilla Lockwood, a purpose-built cottage-style build-to-rent neighborhood located 30 miles west of Fort Worth in Weatherford, Texas. The project is expected to start sitework in early 2027, with the first resident move-ins in early 2028.
DLP Capital’s repeat lending relationship with NexMetro Communities, the largest developer of cottage-style single-level build-to-rent homes in the Sun Belt, reinforces the former’s commitment to financing, and the latter’s to developing, attainable housing projects for working families in high-growth markets.
Avilla Lockwood: A premium cottage-style community in Weatherford
Part of NexMetro’s Avilla Homes concept, which the firm brought to market after forming in 2012, the Avilla Lockwood project is an upcoming 161-unit cottage-style build-to-rent community situated on 17.8 acres in Weatherford, Texas.
Avilla Lockwood’s new construction community will feature 1-, 2-, and 3-bedroom rental homes with an average unit size of 976 square feet.
Designed to accommodate the privacy and space of single-family living with the flexibility and amenities of traditional rentals, Avilla Lockwood is planned to include spacious residences, complete with private fenced backyards and premium community features such as a pickleball court and nature trail.
The project is currently in the pre-development stage, with loan proceeds funding architecture, engineering, and review fees to secure entitlements and prepare the land for development.
Located within the rapidly growing Dallas–Fort Worth metroplex, which ranks as the fourth-largest Metropolitan Statistical Area (MSA) in the country, Weatherford benefits from strong regional economic tailwinds and an influx of new residents.1 As the DFW metroplex continues to experience nation-leading population growth and strong job creation, spillover demand into western exurbs like Weatherford has created a strong need for the convenience of purpose-built, single-family rental housing.
Strategic acquisition and development financing details
DLP Capital’s acquisition and development bridge loan will provide NexMetro with the financing it needs to see the project through to vertical construction.
NexMetro Communities: Pioneering the build-to-rent market
Headquartered in Phoenix and founded in 2012, NexMetro Communities is a pioneer in build-to-rent communities. Since launching the Avilla Homes concept in August 2015, NexMetro has delivered over 10,000 single-family homes across 60+ Avilla Homes communities nationwide.2
NexMetro’s dedication to building high-quality, innovative neighborhoods aligns strongly with DLP Capital’s mission to finance the building of Thriving Communities for America’s working families.