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Dealmaker: Dwight Capital Finances $88M
Dwight Capital, New York, closed $88.1 million in financings.
In Orlando, Fla., Dwight provided $38 million in HUD financing for Pavilion at Lake Eve, a 264-unit apartment community built in 2013. Occupying 9.3 acres, Pavilion at Lake Eve has six buildings with 263,000 square feet of net rentable area. Amenities include a 24-hour fitness center, library, outdoor grilling station, private movie theater and swimming pool with sundeck.
The loan benefitted from a green mortgage insurance premium set at 25 basis points because the property is Energy Star certified. Dwight Managing Director Keith Hoffman and Loan Originator Jack Tawil originated this transaction.
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Dwight Capital
Dwight Vice President Daniel Malka and Loan Originator Jacob Gauptman originated a $29 million bridge refinance for Harbor Heights Apartments, a 121-unit Mystic, Conn. community. Built in 2020, the property has one four-story building with an onsite leasing/management office on 10.5 acres. The new loan paid off an existing construction loan and a portion of its cash-out proceeds will be used toward pre-development costs for a second phase of the property, which will include a 72,000-square-foot surgical center.
Dwight also financed a $21.1 million bridge acquisition loan for Habitat @ DTLV, a gated single-family townhome community in Las Vegas formerly named Town Villas. Built in 2007, Habitat @ DTLV has 92 three-story townhomes on eight acres. Dwight Managing Principal Josh Sasouness originated this transaction.