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Dwight Capital & Dwight Mortgage Trust Finance Over $136.5MM in November 2022

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Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed over $136.5MM of loans during November. Featured among the transactions are HUD 223(f) refinancings for The Kathryn Ann, The Sellina, and Paxton 365.

Dwight Capital closed a pair of loans in Portland, OR, including a $24.92MM HUD 223(f) loan for The Kathryn Ann, a 146-unit apartment community, and a $15.16MM HUD 223(f) loan for The Sellina, a 90-unit community.

Both refinances benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the properties achieved ENERGY STAR green certifications. The Kathryn Ann also has an affordability component as 15% of its units are restricted to 80% or less of the Median Family Income (“MFI”). These are the seventh and eighth HUD loans that Dwight has closed for the borrower, Urban Development Group. McBride Capital brokered these transactions.

Dwight also financed a $21.4MM HUD 223(f) loan for Paxton 365, a mixed-use apartment building in Salt Lake City, UT. The property consists of one five-story building with 121 residential units and three commercial spaces, including the Paxton Pub. The refinance benefited from a Green MIP Reduction because Paxton 365 is ENERGY STAR certified.