Dealmaker: Dwight Capital Finances $127M
(Resort at Jefferson Park, Irving, Texas.)
Dwight Capital, New York, closed $126.9 million for properties in Texas and New York.
Dwight closed a pair of loans in Irving, Texas, including a $47.2 million HUD 223(f) loan for Resort at Jefferson Park and a $45.7 million HUD 223(f) loan for Resort at Jefferson Ridge. The garden-style apartment communities are located along either side of Thomas Jefferson Park. Together, they house 830 units across 34 acres with canal views.
Both properties are in the process of achieving a National Green Building Standard green certification, which was a post-closing requirement. The loans were part of a portfolio refinanced for Dwight client Paramount Investment Corp., which also included a $61.9 million HUD 223(f) loan for Resort at 925 Main closed in December.
Dwight also provided $39 million in HUD financing for Harlem Center for Nursing and Rehabilitation, a 200-bed skilled nursing facility in New York. The loan refinanced existing debt and reimbursed recent capital expenditures for renovations. Dwight Managing Director of Healthcare Finance Adam Offman originated the transaction.