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World Business
January 03, 2022

Dwight Capital Financed $37.2 MM Bridge Loan for Valencia Grove Apartments

Valencia grove apartments

Dwight Capital provided a $37.2 MM bridge acquisition loan for Valencia Grove Apartments, a 460-unit garden and townhome style apartment complex located in Houston, TX. The gated community consists of 32 two-story buildings situated on 17.35 acres near major energy, manufacturing and transportation employers. Its amenities feature a courtyard, swimming pool, renovated leasing office/clubhouse, and two dog parks. Dwight Managing Directors Kevin Lifshitz and Keith Hoffman originated this loan through the firm’s commercial mortgage REIT, Dwight Mortgage Trust.

“The Dwight team were professionals from end to end” said Allyson Pritchett, President of Bodka Creek Capital and buyer in the transaction. “They deeply understood our firm’s value add strategy and were true partners in providing financing that enhances the overall project.”

"Dwight ran an efficient, highly professional process. They understood that we were working under a very tight time frame, moved quickly, and closed ahead of schedule" said Vernon Beckford of Diversified Lending Solutions, the mortgage advisor on the transaction.