Dwight Capital closed $18.97 MM in HUD financing for Sycamore Lane Apartments, a 158-unit apartment complex located in Davis, California. Renovated in 2006, the property is comprised of 23 two-story apartment buildings and a leasing office/clubhouse. Its amenities feature a community room, fitness center, study lounge, swimming pool, gazebo, and barbeque courtyard. The loan includes a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because Sycamore Lane Apartments is ENERGY STAR certified. Executive Vice President, Keith Hoffman, and Alex Shoenfeld originated this transaction.
The borrower was thrilled with the service provided. “Every member of the Dwight Capital team with whom we worked was very proficient, responsive, and professional. Our calls, texts, and emails were answered quickly and efficiently. Dwight is not only thoroughly knowledgeable about HUD and the loan process, but they also have a strong relationship with HUD as shown by their very quick turnaround on approvals. We were very pleased with the experience from engagement through closing,” he said.