Dwight Capital, a national commercial lender, finished 2015 and kicked off 2016 in robust fashion by funding nine FHA/HUD loans totaling in excess of $95 Million in the months of December and January. The loans were closed throughout the nation, including Utah, Oregon, Florida, Illinois, and Alabama.
- Josh Sasouness, co-managing principal of Dwight Capital, and Keith Hoffman teamed up to originate Seminole Ridge Apartments, an existing HUD property. Sasouness and Hoffman secured a loan of $13,642,900 through the HUD 223(f) program to refinance the 240-unit affordable apartment building in Orlando, FL. Seminole Ridge, a former low-income housing tax credit property, is owned by a non-profit corporation in Riverside, CA.
- Dwight Capital’s Managing Director Josh Hoffman, working in tandem with Josh Sasouness, originated Preston Hollow Apartments, a 204 unit apartment building in Murray, UT, just outside Salt Lake City. Preston Hollow was also refinanced through the HUD 223(f) program, for a loan amount of $24,285,500, allowing the owner, a Salt Lake City based real estate investment firm, to recoup significant equity growth since its initial investment.
Dwight Capital also funded the following borrowers in December and January:
- $4,343,200: Cobblestone Apartments on Parkway– Milan, IL
- $8,228,000: Crystal Lake Apartments – Corvallis, OR
- $3,760,000: The Riviera Apartments – Corvallis, OR
- $4,760,000: Salem Parkway Apartments – Salem, OR
- $3,120,000: West Salem Apartments – Salem, OR
- $24,808,000: Wildforest Apartments– Homewood, AL
- $9,032,000: Santa Rita Nursing & Rehab Center– Green Valley, AZ