Dwight Capital closed a $26.66 MM HUD refinance for Enclave at Box Hill Phase II, a 149-unit luxury apartment community located in Abingdon, MD. Built in 2018, the property is comprised of seven apartment buildings, and is part of a larger apartment complex called Enclave at Box Hill, where Phase I is a 240-unit apartment complex that Dwight refinanced in 2020.
The two phases share amenities, which consist of a clubhouse, fitness center with yoga room, children’s playroom, business center, outdoor kitchen and seating area, resort-style pool, fire pits, fenced-in dog park, and walking trail. The loan benefits from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property is ENERGY STAR certified. Brian Yee originated this transaction.