Dwight Capital Finances $51.8MM HUD 221(d)(4) Loan for Integra Isles in Leesburg, FL

Dwight Capital has successfully closed a $51.8 million HUD 221(d)(4) construction loan for the development of Integra Isles, a planned 264-unit, market rate apartment community in Leesburg, Florida. Situated on 15.5 acres, the development will feature 132 one-bedroom units, 114 two-bedroom units, and 18 three-bedroom units spread across 11 three-story garden-style buildings, as well as a one-story clubhouse and leasing office.

Integra Isles is carefully designed to offer a diverse range of amenities, including a clubhouse with a game room, fitness center, resort-style pool with cabanas, dog park, indoor pet spa, grill station, fire pit, and sports bar. Thoughtful design extends into each apartment with premium finishes such as granite countertops, luxury vinyl flooring, energy-efficient stainless-steel appliances, and screened balconies or patios.

The loan proceeds will provide construction and permanent financing for the Developer, Integra Land Company. The project qualifies for a reduced Green Mortgage Insurance Premium (MIP) of 25 basis points, as Integra Isles is pending a National Green Building Standard (“NGBS”) Bronze Certification. This transaction was originated by Brandon Baksh and Karnveer Bal.