January 25, 2022
Dwight Capital Finances $60.8 MM HUD Loan for Coppermine Run in Virginia
Dwight Capital provided a $60.8 MM HUD 223(f) cash out refinance for Coppermine Run, a 288-unit affordable apartment community located in Herndon, Virginia. The property consists of eleven 4-story residential buildings and a clubhouse/leasing office situated on 15.7 acres. Its amenities feature a basketball and multi-sport court, fitness center, playground, swimming pool with sundeck, and walking paths. The loan includes a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because Coppermine Run is ENERGY STAR certified. Managing Director Brandon Baksh originated this transaction.