NEW YORK--(BUSINESS WIRE)--Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed over $136.5MM of loans during November. Featured among the transactions are HUD 223(f) refinancings for The Kathryn Ann, The Sellina, and Paxton 365.
Dwight Capital closed a pair of loans in Portland, OR, including a $24.92MM HUD 223(f) loan for The Kathryn Ann, a 146-unit apartment community, and a $15.16MM HUD 223(f) loan for The Sellina, a 90-unit community.
Both refinances benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the properties achieved ENERGY STAR green certifications. The Kathryn Ann also has an affordability component as 15% of its units are restricted to 80% or less of the Median Family Income (“MFI”). These are the seventh and eighth HUD loans that Dwight has closed for the borrower, Urban Development Group. McBride Capital brokered these transactions.
Dwight also financed a $21.4MM HUD 223(f) loan for Paxton 365, a mixed-use apartment building in Salt Lake City, UT. The property consists of one five-story building with 121 residential units and three commercial spaces, including the Paxton Pub. The refinance benefited from a Green MIP Reduction because Paxton 365 is ENERGY STAR certified.
About Dwight Capital
Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States and has a loan servicing portfolio in excess of $11 billion. Our range of services includes commercial lending across a variety of loan types such as Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, as well as Mezzanine Financing.
For more information about Dwight Capital, please visit: www.dwightcapital.com
About Dwight Mortgage Trust
Dwight Mortgage Trust, LLC (“DMT” or the “Fund”) is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy.
For more information about Dwight Mortgage Trust, please visit: www.dwightmortgagetrust.com
