Dwight Capital announced that it obtained over $2.42 billion in multifamily and healthcare FHA Firm Commitments during HUD’s 2020 fiscal year. This ranks Dwight Capital #2 among lenders both by dollar volume and number of transactions (139 loans closed). Dwight’s financings are executed throughout the United States, and this year, spanned across 36 states. Under the leadership of Adam and Josh Sasouness, Dwight has been a Top-5 FHA/MAP lender for each of the last six years.
Dwight’s overall lending volume increased by over 300% since HUD’s prior fiscal year. During this twelve-month period (October 2019 – September 2020), Dwight originated over $2.22 billion for multifamily properties under HUD’s MAP/Multifamily program and $201.16 MM for healthcare properties under HUD’s LEAN/Healthcare program.
Some notable transactions for HUD’s 2020 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 is 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.
$55.1 MM HUD 221(d)(4) new construction loan for Aviva - Goodyear, a proposed 288-unit apartment community in Goodyear, AZ.
$42.34 MM HUD 223(f) loan for Belleau Woods, a 339-unit garden-style apartment complex in Bellingham, WA.
$40 MM HUD 223(f) loan for Villas at Sunrise Mountains, a 304-unit gated apartment community in Las Vegas, NV.
$25.68 MM HUD 232/223(f) loan for Graceland Rehabilitation and Nursing Center, a 221-bed skilled nursing facility in Memphis, TN.
$23.83 MM HUD 232/223(a)(7) loan for Eastchester Rehabilitation and Health Care Center, a 200-bed SNF in Bronx, NY.
In addition, Dwight Capital also acquired Love Funding, another prominent HUD lending company, towards the end of the fiscal year.
“We are always focused on growth from within first and foremost” said Josh Sasouness, Co-CEO of Dwight Capital. “In this case, however, the ability to integrate the Love Funding team was an opportunity that we could not pass up. It will fuel our ability to continue to provide best-in-class HUD financing expertise and client service as we continue to grow.”