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