Dwight Capital Finances $59.9MM HUD 223(f) Loan for Tanglewood @ Davis Apartments in California

Dwight Capital successfully closed a $59.9MM HUD 223(f) refinance for Tanglewood @ Davis, a 216- unit, garden-style apartment complex in Davis, CA. Spanning 14.3 acres, the property consists one-, two-, and three-bedroom units across 30 two-story residential buildings. Residents enjoy a wide array of amenities including private parking garages, a basketball court, a dog park, a fitness center, a BBQ and firepit lounge, and a swimming pool. Recently renovated, the units feature modern appliances, granite countertops, fireplaces, and either balconies or patios. Located less than a mile from Interstate 80 - the major east-west route connecting Sacramento and San Francisco - Tanglewood @ Davis offers convenient access to key regional hubs.

The loan proceeds will be utilized to retire existing debt, cover closing costs, complete necessary repairs, and establish a replacement reserve account for future capital improvements. The refinance also benefits from a reduced Green Mortgage Insurance Premium (MIP) of 25 basis points, with Tanglewood @ Davis pending a National Green Building Standard (“NGBS”) Bronze Certification. This transaction was originated by Dwight Senior Originator, Elliot Haft.