Dwight Capital is pleased to announce another successful month with closings surpassing $73.7 MM. Featured closings include a $23.8 MM 223(f) loan on an apartment community in TX, and a $14.45 MM bridge loan on Woodside Meadow Apartments in MI.
One of the properties is a 296-unit garden-style apartment complex that is situated on 18-acres located in San Antonio, TX. Built in 2005, the gated community is conveniently located near multiple schools and features a state-of-the-art fitness center and swimming pools. With Dwight’s assistance, the project qualified for HUD’s Green MIP program, which provides a financial incentive for the owner given the project’s history of energy efficient consumption.
Woodside Meadow Apartments is a 350-unit garden style apartment community located in Lansing, MI. The property consists of over 325,000 square feet and it sits on nearly 37-acres. It includes amenities such as a clubhouse, swimming pool, and fitness center. A portion of the financing for Woodside Meadows will be put towards significant renovations to upgrade all units, common areas, and several external features. Managing Directors, Kevin Lifshitz and Josh Hoffman, originated the loan.
In addition to Dwight’s multifamily loans, $7.75 MM was closed in healthcare financing for a portfolio in TN.