Dwight Capital Funds $73M in FHA Loans

Dwight Capital, New York, funded seven FHA/HUD loans totaling $73 million in six states.

Adam Sasouness, co-managing principal of Dwight Capital, and Director of Originations Kevin Lifshitz originated $13 million for Upper Lofts at Canal Walk, a 110-unit property in Richmond, Va., and $16.2 million for Palms on Lamar, a 476-unit Low-Income Housing Tax Credit apartment community in Austin, Texas.

Co-managing principal Josh Sasouness and Loan Originator Keith Hoffman originated $6.5 million in FHA funds for The Village at Carver Falls II, an 84-unit apartment building in Fayetteville, N.C.; Josh Sasouness also originated $10 million for College Park Townhomes in Gillette, Wyo. “We were able to take advantage of the current interest rate environment and refinance the project for a second time within an 18-month timeframe,” he said.

Dwight Managing Director Josh Hoffman and Keith Hoffman arranged $4.2 million for the Harbor at Southaven, a 15-year-old townhome community valued at $5.5 million in Lafayette, Ind. The property’s existing mortgage matured in October and the loan closed on September 30th. Dwight funded the loan just six months from engagement, a particularly quick turnaround for a HUD 223(f) refinance.

Ari Mandelbaum, vice president of origination, originated an $8 million loan on Keystone Ridge in Puyallup, Wash. that enabled the borrower to lock into a 35-year fixed-rate loan and returned more than $700,000 of equity back to ownership in a cash-out.

Dwight Capital Vice President of Origination Brandon Baksh originated $15.6 million for Settler’s Ranch Apartments in Houston. He said the refinance will save the borrower more than $170,000 a year in debt-service payments.