NEW YORK, NY - Dwight Capital closed over $325 MM in financings during November. Featured among Dwight’s transactions are a HUD loan for Pavilion at Lake Eve and bridge loans for Harbor Heights Apartments and Habitat @ DTLV.
Dwight provided $38 MM in HUD financing for Pavilion at Lake Eve, a 264-unit apartment community located in Orlando, FL. Built in 2013 and situated on 9.3 acres, the property is comprised of six apartment buildings with a net rentable area of 263,000 square feet. Its amenities feature a 24-hour fitness and wellness center, library, outdoor grilling station, private movie theater, and swimming pool with sundeck. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) set at 25 basis points because the property is ENERGY STAR certified. Managing Director, Keith Hoffman, and Jack Tawil originated this transaction.
“This was our second HUD closing with Dwight Capital and they delivered unparalleled service as promised. Keith and Jack approached us with the opportunity to refinance and helped us achieve very favorable terms. We look forward to working with the Dwight team on future transactions,” said Matthew Jacobs, Managing Director of GRE JV Orlando LLC.
Vice President, Daniel Malka, and Jacob Gauptman originated a $29 MM bridge refinance for Harbor Heights Apartments, a 121-unit luxury apartment community located in Mystic, CT. Newly built in 2020, the property consists of one four-story building with an onsite leasing/management office situated on 10.5 acres. Its amenities feature a clubhouse with kitchen, conference room, dog park, fitness room, swimming pool, and outdoor BBQ area. The Dwight loan paid off an existing construction loan and a portion of its cash-out proceeds will be used towards pre-development costs for a second phase of the property, which includes a 72,000 SF surgical center.
Dwight also financed a $21.1 MM bridge acquisition loan for Habitat @ DTLV (formerly known as Town Villas), a gated 92-unit single family townhome community located in Las Vegas, NV. Built in 2007, the property consists of 92 three-story buildings situated on 8 acres centrally located near employment drivers. Its amenities feature a business center, playground, BBQ/picnic areas, direct access garages, and walking trails. Managing Principal Josh Sasouness originated 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 lending across a variety of platforms such as FHA/HUD, Bridge, and Mezzanine Financing as well as Preferred Equity for both stabilized and new-construction properties. Dwight Capital is also one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States and services in excess of $9 billion of commercial real estate loans.
For more information about Dwight Capital, please visit: www.dwightcapital.com