Dwight Capital is pleased to announce another successful month with closings surpassing $163.96 MM. Featured among Dwight’s September closings are HUD 223(f) loans on Autumn Creek Apartments, The Meadows at Elk Creek, and The Village at Wildcreek.
Dwight’s Executive VP, Keith Hoffman, originated the $29.76 MM HUD 223(f) loan for Autumn Creek Apartments, a 228-unit luxurious market-rate apartment complex in East Amherst, New York. The property was built in 2001 and sits on 22-acres. Autumn Creek earned an Energy Star score of 98, qualifying as Green/Energy Efficient Housing, thus receiving a reduced MIP of 0.25%. It was also ranked among the nation’s top-rated apartment communities in 2018 for its outstanding resident experience.
The $17 MM HUD 223(f) loan for The Meadows at Elk Creek, a 200-unit garden-style apartment complex located in Elkton, Maryland, was originated by Managing Director, Kevin Lifshitz, and refinanced a Dwight bridge loan. The mortgage includes a 0.25% MIP reduction for achieving Green Energy Efficient Housing standards.
Managing Director, Josh Hoffman, originated the $36.5 MM HUD 223(f) loan on The Village at Wildcreek, a 240-unit garden-style apartment complex located in Sparks, Nevada. Built in 2001, the property sits on a 13.36-acre lot with convenient transportation access. This property also qualified as Green/Energy Efficient Housing and received an MIP reduction of 0.25%. This refinance also allowed the borrower to complete unit renovations.
In addition to Dwight’s multifamily loans, $18.4 MM was closed in financing for healthcare properties.