Dwight Capital announced that it obtained over $1 Billion in FHA Multifamily Commitments through the first half of HUD’s fiscal year. This ranks Dwight Capital #1 among lenders both by dollar volume and number of transactions (54 loans). During this six-month period (October-March), Dwight received commitments totaling over $676.7 MM in HUD 223(f) loans, $322 MM in 223(a)(7) loans, $48.56 MM in 221(d)(4) loans, and $18.14 MM in 241(a) loans. Dwight’s volume was nationwide and spanned across 19 states. Under the leadership of Adam and Josh Sasouness, Dwight has consistently been a Top-5 FHA/MAP lender for each of the last five years.
Some notable transactions for the first half of HUD’s fiscal year included:
$102.2 MM in HUD 223(a)(7) loans for a portfolio comprising 1,169 units in Maryland.
$74.99 MM HUD 223(f) loan for Copper Creek Apartments, a 608-unit garden-style apartment complex located in Las Vegas, NV. This loan closed in February and was the largest HUD loan closed in the state of Nevada to date.
$74.4 MM 223(f) loan for Baxter Crossings Apartments, a 694-unit, garden-style apartment complex located in Chesterfield, MO. The loan closed in January as the largest HUD 223(f) refinance in the state of Missouri to date.
$41.76 MM 223(f) loan for Aura at Quarterpath, a 228-unit apartment community located in Williamsburg, VA.
$39.99 MM 223(a)(7) loan for Enclave at Box Hill, a 240-unit apartment complex located in Abingdon, MD.
$25.15 MM 221(d)(4) construction loan for Autumn Breeze Apartments, a 216-unit apartment complex located in Wilmer, TX.
$24.8 MM 221(d)(4) loan for The Retreat at Grand Prairie, a 154-unit new construction senior housing community in Grand Prairie, TX.
$18.1 MM 241(a) loan for Tesora II Apartments, a 92-unit apartment complex in Las Vegas, NV.
$17.7 MM 221(d)(4) construction loan for Plum Tree Apartments, a 143-unit apartment community in Kaufman, TX.
“Our #1 HUD MAP ranking is a direct result of Dwight's culture of constant evolution. Our servicing, closing, underwriting, and origination teams are always looking for ways to improve, which resonates with our clients," said Josh Sasouness, Co-Founder and Managing Principal of Dwight Capital. "We cannot thank HUD enough for their partnership with us."
Dwight continued to build on its strong momentum in April, with more than $226.86 MM in closings during the month. Dwight financed $96.7 MM in 223(f) loans, $95.16 MM in 223(a)(7) loans, and $35 MM in bridge loans.