Dwight Capital Financed $27.3 MM for Algonquin Square Apartments in Illinois

Dwight Capital provided $27.3 MM in HUD financing for Algonquin Square Apartments, a 220-unit apartment complex located in Algonquin, Illinois. The property was a 2019 Apartment Ratings Top Rated Award Winner. Built in 2013, Algonquin Square is comprised of 11 apartment buildings, two garage buildings, and a leasing office/clubhouse. Its amenities feature a gym, business center, swimming pool with sundeck, and outdoor grilling and lounge areas. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property is ENERGY STAR certified. Managing Director, Brandon Baksh, originated this transaction.