Dealmaker: Dwight Capital Finances $110M

Dwight Capital, New York, closed $109.6 million for multifamily properties in three states.

The firm closed $55 million in HUD financing for Mallard Lake Apartments, a 481-unit apartment property in Wheeling, Ill., with 52 one- and two-story residential buildings. The loan benefited from a Green Mortgage Insurance Premium set at 25 basis points because the property is Energy Star certified. Dwight Managing Director Keith Hoffman originated the transaction, which he noted closed as the largest HUD 223(a)(7) refinance in Illinois to date.

Dwight Managing Principal Josh Sasouness originated a $27 million HUD 223(f) cash-out loan for Bedford Hills Apartments, a 144-unit community in Bedford, N.H. Built in 2016, the property has four four-story buildings and a clubhouse/leasing office on 13 acres. The loan also included a Green MIP because the property is Energy Star certified.

Dwight also financed a $27.6 million bridge loan for Parc 410 Apartments, a 344-unit property in San Antonio, Texas with 21 residential buildings, a clubhouse building and two maintenance shops on 10 acres. Managing Principal Adam Sasouness originated the transaction.