Dwight Capital Provides $60 8M HUD Refinancing for Affordable Housing Community in Herndon, Virginia rebusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rebusinessonline.com Daily Mail and Mail on Sunday newspapers.
NEW YORK, NY - Dwight Capital closed over $402 MM in financings during September. Featured among Dwight’s transactions are HUD loans for The Gables of Troy in Troy, MI, and Walton Centennial Apartments in Roswell, GA, and a bridge loan for a multifamily portfolio located in Warner Robins, GA.
Dwight provided $35.4 MM in HUD financing for The Gables of Troy, a 544-unit apartment complex located in Troy, MI. The property is comprised of 42 three-story apartment buildings and a clubhouse..
NEW YORK, NY - Dwight Capital provided in excess of $396 MM in financings (including Interest Rate Reductions) during March. Featured among Dwight’s closings are HUD loans for City Market at O Street, Springs at Laurens Road, and Blackhawk Trails Apartments.
Dwight closed $128 MM in HUD financing for City Market at O Street, a 400-unit mixed-use project located in Washington, D.C. Built in 2013-2014, the property is comprised of two, nine-story apartment buildings, five retail spaces, a ground floor grocery store, and a three-level parking garage. The project’s amenities feature a swimming pool, dog park, rooftop with 360-degree panoramic views, and concierge services. The O Street Market, one of D.C.’s greatest historic landmarks, was preserved and incorporated into the new construction.
Roadside Development Lands $128M Loan for Washington, DC Asset
Roadside Development Lands $128M Loan for Washington, DC Asset
Dwight Capital originated the financing, which is the largest to date under HUD’s 223(a)(7) multifamily program. Apr092021
Image courtesy of Dwight Capital
Roadside Development has secured $128 million in HUD financing for City Market at O Street in Washington, D.C.’s Logan Circle-West Mount Vernon submarket.
The loan, originated by Dwight Capital, is the largest to date under HUD’s 223(a)(7) multifamily program. The asset was completed in 2014 and is managed by Bozzuto. It consists of 400 apartments in two, nine-story buildings, a ground-floor Giant supermarket, a three-level parking garage and five retail offerings.
Affordable Northern Virginia Property Scores $67M Refi
The community is 30 miles outside of Washington, D.C., and close to several major employers. Mar042021
Image courtesy of Dwight Capital
Dwight Capital has secured a $66.8 million HUD refinancing for Ashburn Meadows, a 336-unit fully affordable community in Ashburn, Va., owned by Clark Realty Capital. The Loudoun County property was previously subject to a HUD 223(f) loan originated by the same Dwight Capital in 2017. That loan amounted to $45.4 million, according to Yardi Matrix data.
The new financing, which closed on Feb. 24, includes a reduced Mortgage Insurance Premium set at 25 basis points. Managing Director Brandon Baksh originated the deal, which marks the fourth refinance that Dwight Capital has closed for this client. The community was 98 percent occupied at closing, a Dwight Capital representative told