NEW YORK–(BUSINESS WIRE)–Dwight
Capital is pleased to announce another strong transactional month in
May with closings exceeding $103.6 MM.
Dwight closed a $25 MM bridge loan on Springs
at Cottonwood Creek, a 260-unit Class-A, garden-style apartment
community located in Waco, TX, and a $41 MM bridge loan on Springs
at West Chester, a 308-unit Class-A, garden-style apartment
community located in West Chester, OH, a northern suburb of Cincinnati.
Both buildings were constructed in 2017.
Dwight also closed a $4 MM+ HUD 223(f) loan on Gardens at Clearwater, an
80-unit senior housing apartment complex located in Kerrville, TX and a
$5.06 MM HUD 223(f) loan on Friendship Place Apartments, a 76-unit,
garden-style residential apartment complex located in Fredericksburg,
TX. Both properties contained Land Use Restrictive Agreements (LURAs)
and qualified as Broadly Affordable Housing under the HUD/MAP Guide
definition, therefore qualifying for a reduced MIP of 0.25%.
In addition to Dwight’s multifamily loans, several healthcare loans also
closed in May:
-
$10 MM+ bridge loan on St.
Sophia Health and Rehabilitation, a 191-bed skilled nursing
facility (SNF), licensed for 240 beds, in Florissant, MO -
$5.75 MM bridge loan on Sunset
Health Care Center, a 120-bed SNF in Union, MO -
$12.8 MM bridge loan on Woodhaven
Center of Care, a 181-bed assisted living facility (ALF) in Port
Jefferson Station, NY
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 four years. Our range of services include
commercial lending across a variety of platforms such as Bridge, CLO,
USDA, Mezzanine, and Preferred-Equity for both stabilized and
new-construction properties.
For more information about Dwight Capital, please visit: www.dwightcapital.com
Contacts
Dwight Capital
Lindsay Morrison
[email protected]
