Dwight Capital provided $25.8 MM in financing for Majestic Parc Apartments, a 217-unit apartment complex located in Denton, TX. Built between 2018-2019, the property is comprised of six three-story apartment buildings situated on over 10 acres. Its amenities include a community room, fitness center, swimming pool, and biking/walking trails. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) set at 25 basis points because the property qualifies as green/energy efficient. Vice President Daniel Malka originated this transaction.
“The professionals at Dwight Capital were organized, courteous and efficient. Their transaction creativity produced unexpected cashflow over competing bids. Most importantly, they delivered on their promises,” said Von L. Best, the sponsor of Majestic Parc.