Company Continues Development in Sustainable Real Estate
Release Date: January 22nd, 2018 - Dwight Capital, a national commercial lender, funded twenty-two FHA/HUD loans in 2017 through HUD’s “Green MIP” initiative. The loans, totaling $337,848,100, represented 33% of total transaction volume for Dwight in 2017 (total HUD transaction volume for 2017 was north of $1 Billion).
Dwight prides itself on its deep market knowledge, breadth of client base, and expanding presence in the ‘green’ real estate market. Over the past year, Dwight continued its efforts towards long-term sustainability by funding multiple green, energy-efficient multifamily assets across the country.
Co- CEO, Josh Sasouness, had this to say: “HUD’s Green MIP program is a major win for owners, developers, tenants, and perhaps most importantly the environment. It is an excellent example of how public policy can positively influence the private sector.”
To qualify as an energy efficient multifamily housing project and obtain a reduced Mortgage Insurance Premium (MIP), the property must meet industry standards for green building and achieve an ENERGY STAR (or other similar) certification.
Justin Swartz of Oxford Enterprises stated “For a recent HUD 223(f) refinance, our asset qualified for HUD’s recent Green MIP program thanks to the persistence and creativity of the Dwight Capital team. Even though we initially had trouble certifying our project, the folks at Dwight were able to successfully navigate us through the intricate process. We were extremely impressed with the Dwight Team, their knowledge of HUD and their ability to make an extremely complex process simple and efficient.”
Below are several properties that Dwight financed through the Program in 2017:
- The Boulevard, Corinth, TX – $24,234,000
- Tivoli Apartments, Las Vegas, NV – $48,000,000
- Brentwood Estates, Springfield, OR – $34,510,000
- Waters View Apartments, Cohoes, NY – $29,975,000
- 3343 Memorial Apartments, Murfreesboro, TN – $23,780,200
- Brant Creek Apartments, St. Marys, GA – $20,208,000
- Vantage Pointe Homes at Marrowbone Heights, Ashland City, TN – $17,006,700