Dwight Capital Closes Multifamily Loans in Excess of $78 MM in August 2019

Dwight Capital is pleased to report another strong transactional month with multifamily loan closings exceeding $78 MM.

Dwight’s Managing Principal, Josh Sasouness, and Executive VP, Keith Hoffman, originated a $15.97 MM HUD 223(f) cash-out refinance for Point Beach Apartments, a 108-unit, garden-style apartment complex located in Point Pleasant Beach, NJ. The property consists of eight two-story buildings situated on 7.03-acres of land two blocks from the Point Pleasant Beach boardwalk, a famed summer destination for residents in the Tri-State Area. Point Beach Apartments underwent a significant renovation in 2006-2008 in which its exteriors and interiors were updated to expand unit sizes and replace the electrical system to digitally controlled heating and cooling. The sponsor was able to cash-out through the refinance.

Dwight also closed a $11.64 MM HUD 223(f) loan on Rolling Creek Apartments in Vancouver, WA. The project is a 111-unit, garden-style residential apartment complex. The property consists of 4.84-acres and has a gross building area of 100,433 square feet. Managing Director, Josh Hoffman, and Vice President, Daniel Malka, originated this loan.

Dwight also closed a $24.8 MM HUD 223(f) loan on a project in Nevada that received a reduced MIP of 0.25% due to its qualification as Green Energy Efficient Housing, and a $20.72 MM HUD 223(f) loan on an affordable housing property in Washington, DC.

Related News:

https://www.mba.org/mba-newslinks/2019/september/mba-newslink-monday-9-9-19/commercial/multifamily/dealmaker-dwight-capital-closes-87m-in-multifamily-loans?_zs=hmG2O1&_zl=TX5I5

https://www.multifamilybiz.com/PressReleases/10436/Dwight_Capital_Closes_Multifamily_Loans_in_Excess_...

https://www.businesswire.com/news/home/20190910005549/en/Dwight-Capital-Closes-Multifamily-Loans-Excess-78

https://www.valdostadailytimes.com/news/business/dwight-capital-closes-multifamily-loans-in-excess-of-mm-in/article_14240ef8-0664-528e-96b1-1839dfb9302e.html

https://finance.yahoo.com/news/dwight-capital-closes-multifamily-loans-123000459.html