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Dwight Capital financed in excess of $468 MM (including Interest Rate Reductions) during April. Featured among Dwight’s closings are HUD loans for The Village at Gainesville, The Residences at Justison Landing, and a multifamily portfolio located in Oregon.
Dwight provided a $94.3 MM HUD loan for The Village at Gainesville, a 651-bed senior living community located in Gainesville, FL. The gated property is situated on a 104-acre campus, which features amenities such as a library, hair salon, tennis court, fitness center, and swimming pools. The Village at Gainesville provides its residents with services including assisted living, memory care, and board and care. It also runs a Vitality Program, which offers its residents customized wellness plans to optimize their well-being. This refinance closed as the largest healthcare 232(a)(7) loan in HUD’s history to date. Managing Principal, Josh Sasouness, and
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.
Josh Sasouness arranged a nearly $55 million bridge loan for the 243-unit
U Place, which was completed last fall at 4609 Union Bay Place N.E., just east of
University Village. The project was initially announced as condominiums in 2016, then switched its program and general contractor before breaking ground circa 2018.
DLR Group was the architect for the six-story building, and
Venture was the general contractor. The developer was Bellevue firm
ZQH Investments. The ground-floor retail space, with 19,450 square feet, was originally to be a food hall. It s not clear who s leasing that space for ZQH.
NEW YORK, NY - 2020 was Dwight Capital’s strongest year to date, with more than $3.6 billion in real estate financings (including Interest Rate Reductions) spanning 43 states. Dwight increased its servicing volume to over $6 billion under management and was once again one of the most active, direct HUD lenders in the country, continuing its industry leading position as a top-5 HUD lender for the sixth consecutive year.
Dwight’s overall lending volume more than tripled since 2019, and the company closed a record month with over $565.84 MM in financings in December. In addition, Dwight Capital acquired Love Funding, another prominent HUD lending company, towards the end of HUD’s 2020 fiscal year. The Love Funding acquisition was a strategic move that allowed Dwight to strengthen its operational expertise by adding key leaders in management, underwriting, asset management, and closing.The additional staff and expertise better positions Dwight Capital for future growth and success