NEW YORK--(BUSINESS WIRE)--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. Its amenities feature a dog park, media room, fitness and racquetball rooms, and two outdoor pools. The loan benefits from a Green Mortgage Insurance Premium (“MIP”) set at 25 basis points because the property qualifies as green/energy efficient. Karnveer Bal originated this transaction.
Bal and Managing Director, Brandon Baksh, originated a $32.5 MM HUD 223(f) loan for Walton Centennial Apartments, a 250-unit apartment complex located in Roswell, GA. Built in 2002, the property consists of ten apartment buildings and a community building situated on 43.2 acres, including a nature preserve. The community’s amenities feature a business center, fitness center, library, playground, swimming pool, and walking trail. The loan benefitted from a Green MIP Reduction because Walton Centennial is ENERGY STAR certified.
Dwight also financed a $21.45 MM bridge acquisition loan for three garden-style apartment communities located in Warner Robins, GA: Wellston Ridge, Oakdale Village, and Northcrest Apartments. Together, the properties consist of 321 units across approximately 282,500 SF on a total of 35.6 acres. Each community features its own swimming pool and leasing office. The borrower plans to invest in a capex plan to complete interior and exterior improvements on all the properties. David Scheer and Alex Izso 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 $8.5 billion of commercial real estate loans.
For more information about Dwight Capital, please visit: www.dwightcapital.com
