NEW YORK–(BUSINESS WIRE)–Dwight Capital closed a combined $279.6 MM of loans in March 2020 and continues to lead HUD MAP financing league tables having closed $248.9 MM in multifamily financings.
Dwight closed $102.2 MM in HUD 223(a)(7) loans for a portfolio of four market-rate apartment complexes in Maryland: Elkridge Estates of Roland Park, The Encore at Wheaton Station, The Renaissance Club Apartments and The Evergreens at Laurel. Together, the properties are comprised of 1,169 units. This portfolio of transactions was originated by Vice President, Daniel Malka, and Originator, Jacob Gauptman.
Brian Yee originated a $39.99 MM HUD 223(a)(7) loan for Enclave at Box Hill, a 240-unit market-rate luxury apartment complex located in Abingdon, Maryland. The property earned an Energy Star Campus Certification, becoming the first HUD refinance to successfully achieve the Green MIP reduction with this certification.
Managing Director, Brandon Baksh, originated a $20.4 MM HUD 223(a)(7) loan for Willow Creek Apartments, a 228-unit apartment community located in Tomball, Texas. Developed in 2015 utilizing the HUD 221(d)(4) Program, the gated community is fully equipped with amenities including its own 19,000 square foot pet-friendly park. In addition to achieving a reduced MIP rate of .25% for Green/Energy efficient housing standards, the Dwight team was able to take advantage of historically low interest rates as well as reduce the reserve requirements for this brand-new project.
Dwight Capital is a leader in commercial real estate finance and is one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States. Dwight has led the industry as a top-5 Multifamily & Healthcare HUD lender by both transactions and dollar amount over the past five years. Our range of services include commercial lending across a variety of platforms such as USDA, Bridge, Mezzanine, and Preferred-Equity for both stabilized and new-construction properties.
For more information about Dwight Capital, please visit: www.dwightcapital.com