Dwight Capital closed a $26.84 MM HUD 223(a)(7) refinance for Springwater Crossing Apartments, a 171-unit apartment complex located in Gresham, Oregon. Built in 2010, the property is comprised of 32 apartment buildings surrounded by many parks with views of Mt. Hood, Mt. St. Helen and the Pacific Northwest. The community’s amenities include a resident lounge, fitness center and four playgrounds. Springwater Crossing qualifies as green/energy efficient housing,
and the property therefore received a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points. Managing Principal, Josh Sasouness, originated this transaction.
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