Dwight Capital Provides $21.6MM HUD 223(f) Loan for Meadowbrook Apartments in California

Dwight Capital provided a $21.6 million HUD 223(f) loan for Meadowbrook Apartments, a newly renovated 92-unit garden-style complex in West Sacramento, CA. The property includes 10 two-story residential buildings with one- to four-bedroom units featuring patios and balconies, as well as two communal buildings, all spread across five acres. Community amenities feature a fitness center, game room, dog park, pool, BBQ/picnic area, and pool house with bathroom and kitchenette facilities.

Proceeds from the loan will be used to retire existing debt and fund property improvements for Tesseract Capital Group, a recurring client of Dwight. The loan also benefitted from a Green Mortgage Insurance Premium (MIP) Reduction set at 25 basis points, as Meadowbrook Apartments holds National Green Building Standard (“NGBS”) Bronze certification. This financing underscores Dwight Capital’s ongoing commitment to supporting sustainable and energy-efficient projects.