Dealmaker: Dwight Capital Finances $175M

Dwight Capital, New York, closed $174.8 million in financings.

In Herndon, Va., the firm provided a $60.8 million HUD 223(f) cash-out refinance for Coppermine Run, a 288-unit affordable apartment community with eleven four-story buildings and a clubhouse/leasing office on 15.7 acres. The loan included a Green Mortgage Insurance Premium Reduction set at 25 basis points because Coppermine Run is Energy Star certified. Managing Director Brandon Baksh originated this transaction.

Baksh also originated a $33.4 million bridge loan for Liberty Pointe, a 181-unit garden-style apartment community in Marietta, Ga. A portion of the loan proceeds will be used to improve the property’s units, common areas and building exteriors. Baksh originated this transaction through the firm’s commercial mortgage real estate investment trust, Dwight Mortgage Trust.

Dwight Capital provided a $48.2 million HUD 223(f) refinance for The Farmstead Apartments, a 260-unit property built in 2020 in Nampa, Idaho. Dwight Managing Principal Josh Sasouness originated this transaction. 

The firm also provided a $32.4 million HUD new construction loan for The Gibson, a proposed 199-unit apartment community on 4.4 acres in Grand Prairie, Texas. The loan included a Green Mortgage Insurance Premium reduction set at 25 basis points because the property will qualify as green/energy-efficient housing upon completion. Josh Sasouness originated this transaction as well.