Dwight Capital provided over $455.4 MM in financings during October. Featured among Dwight’s transactions are HUD loans for Mallard Lake Apartments and Bedford Hills Apartments as well as a bridge acquisition loan for Parc 410 Apartments.
Dwight closed $55 MM in HUD financing for Mallard Lake Apartments, a 481-unit apartment complex located in Wheeling, IL. The property is comprised of 52 one- and two-story buildings and a leasing office. Its amenities feature a fitness center, community room, tennis court, and swimming pool. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) set at 25 basis points because the property is ENERGY STAR certified. Managing Director Keith Hoffman originated this transaction, which closed as the largest HUD 223(a)(7) refinance in Illinois to date.
Managing Principal Josh Sasouness originated a $27 MM HUD 223(f) cash-out loan for Bedford Hills Apartments, a 144-unit apartment community located in Bedford, NH. Built in 2016, the property is comprised of four, four-story apartment buildings and a clubhouse/leasing office situated on approximately 13 acres. Its amenities feature a swimming pool and courtyard with BBQ area. The loan includes a Green MIP because the property is ENERGY STAR certified.
Dick Anagnost, the sponsor of Bedford Hills, told Commercial Observer that “With interest rates being as low as they are, we thought this was an opportune time to refinance the property.”
Dwight also financed a $27.6 MM bridge loan for Parc 410 Apartments, a 344-unit luxury apartment complex located in San Antonio, TX. The property consists of 21 apartment buildings, a clubhouse building, and two maintenance shops situated on a 10-acre site. Its amenities include a full-size basketball court, fitness center, business center, dog park, and two resort style pools with cabanas. Managing Principal Adam Sasouness originated this transaction for a repeat Dwight client.