January 24, 2022
Dwight Capital Finances $32.4 MM New Construction Loan for The Gibson in Grand Prairie
Dwight Capital provided a $32.4 MM HUD new construction loan for The Gibson, a proposed 199-unit apartment community located in Grand Prairie, TX. The property is conveniently located near primary transportation, retail, and major employment centers. The Gibson will be comprised of one five-story apartment building situated on 4.4 acres. Its amenities will feature a clubhouse, dog park, and rooftop patio. The loan includes a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because upon completion, the property will qualify as green/energy efficient housing. Managing Principal Josh Sasouness originated this transaction.