Dwight Capital closed a $34.2 MM HUD 223(f) loan for Shiloh Commons, a 144-unit mixed-use project located in Billings, MT. The property consists of four individual four-story buildings situated on 7.4 acres. There is over 60,000 square feet of retail, office, and restaurant space featured at the base of the residential homes, and each building has a one-level underground parking garage. The property also includes a standalone commercial building, which is excluded from this refinance.
Shiloh Commons is a pet-friendly community with amenities including a fitness center, rooftop picnic area with BBQ stations, concierge services, and on-site management. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property qualifies as green/energy efficient housing. Managing Director, Brandon Baksh, originated this transaction.