Dealmaker: Dwight Capital Finances $59.9M Loan for California Apartments

Dwight Capital, New York, closed a $59.9 million HUD 223(f) refinance for an apartment community in Davis, Calif.

The complex, called Tanglewood @ Davis, contains 216 units in 30 two-story buildings and a number of amenities.

The loan proceeds will be utilized to retire existing debt, cover closing costs, complete necessary repairs and establish a replacement reserve account for future capital improvements.

The refinance also benefits from a reduced Green Mortgage Insurance Premium of 25 basis points, with Tanglewood @ Davis pending a National Green Building Standard Bronze Certification.

The transaction was originated by Dwight Senior Originator Elliot Haft.