NEW YORK–(COMMERCIAL THREAD) –Capital Dwight closed over $ 663.44 million in financings (including interest rate cuts) in February. Among Dwight’s fences are HUD 223 (f) loans for Ashburn Meadows Apartments and Villa Vita Apartments and a bridging loan for U Place Apartments.
Dwight provided $ 66.8 million for Ashburn Meadows Apartments, an affordable 336 unit apartment community located in Ashburn, Virginia. Built in two phases in 2000 and 2002, the property consists of 14 three-story apartment buildings and one-story lodge located on over 18.3 acres. Facilities at Ashburn Meadows include a fitness center, barbecue, swimming pool with terrace and hiking trails. The property is made up of 100% LIHTC (Low-Income Housing Tax Credit) units. General manager, Brandon baksh, is at the origin of this transaction, which is the fourth refinancing that Dwight has concluded for this loyal client.
Baksh and Karnveer’s Ball launched a $ 29.75 billion HUD refinancing for Apartments Villa Vita, a 183-unit apartment complex located in Peoria, Arizona. Built in 2019, the property consists of 12 buildings, including seven three-story apartment buildings, three garages, a clubhouse and gazebo located on 22.7 acres. Its amenities include a fitness center, sports court, swimming pool with spa and dog park. The loan includes a green MIP reduction set at 25 basis points since the property is considered green / energy efficient housing.
Dwight also has $ 55 million in bridge financing for Apartments U Place, a 243-unit mixed-use luxury apartment complex located in the University District of Seattle, WA. Built in August 2020, U Place is located on a 32,633 square foot site, including 19,450 square feet of retail space on the ground floor. The property is adjacent to University Village, Seattle’s only outdoor mall, which boasts more than 120 upscale shops and restaurants. Common facilities at U Place include a state-of-the-art fitness center, community hall, and rooftop terrace with 360-degree views. Its residential amenities include in-unit washers and dryers, private balconies, floor-to-ceiling windows, and a keyless Bluetooth room entry. General manager, Josh sasouness, is at the origin of this transaction.
About Dwight Capital
Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States. Our range of services includes commercial loans on a variety of platforms such as FHA / HUD, Bridge and Mezzanine financing, as well as preferred shares for stabilized properties and new construction. Dwight Capital is also one of the largest FHA / HUD lenders for multi-family and healthcare properties in the United States and services over $ 6.5 billion in commercial real estate loans.
For more information on Dwight Capital, please visit: www.dwightcapital.com