Dwight Capital closed over $402 MM in financings during September. Featured among Dwight’s transactions are HUD loans for The Gables of Troy in Troy, MI, and Walton Centennial Apartments in Roswell, GA, and a bridge loan for a multifamily portfolio located in Warner Robins, GA.
Dwight provided $35.4 MM in HUD financing for The Gables of Troy, a 544-unit apartment complex located in Troy, MI. The property is comprised of 42 three-story apartment buildings and a clubhouse. Its amenities feature a dog park, media room, fitness and racquetball rooms, and two outdoor pools. The loan benefits from a Green Mortgage Insurance Premium (“MIP”) set at 25 basis points because the property qualifies as green/energy efficient. Karnveer Bal originated this transaction.
Bal and Managing Director, Brandon Baksh, originated a $32.5 MM HUD 223(f) loan for Walton Centennial Apartments, a 250-unit apartment complex located in Roswell, GA. Built in 2002, the property consists of ten apartment buildings and a community building situated on 43.2 acres, including a nature preserve. The community’s amenities feature a business center, fitness center, library, playground, swimming pool, and walking trail. The loan benefitted from a Green MIP Reduction because Walton Centennial is ENERGY STAR certified.
Dwight also financed a $21.45 MM bridge acquisition loan for three garden-style apartment communities located in Warner Robins, GA: Wellston Ridge, Oakdale Village, and Northcrest Apartments. Together, the properties consist of 321 units across approximately 282,500 SF on a total of 35.6 acres. Each community features its own swimming pool and leasing office. The borrower plans to invest in a capex plan to complete interior and exterior improvements on all the properties. David Scheer and Alex Izso originated this transaction.