June 24, 2021

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Mortgage News

Dwight Capital Financed $364.26 MM in May 2021

NEW YORK–() –Dwight capital Funded more than $ 364.26 million in May. Dwight closings include HUD loans for Springs in South Elgin and Greystone in Widewaters, as well as a bridging loan for Golden Gate townhomes.

Dwight placed a refinancing of 47.36 MM HUD 223 (f) for Sources in South Elgin, a 300-unit townhouse-style condominium in South Elgin, Illinois. The property, built in 2018, consists of 15 two-story residential buildings, a clubhouse / leasing office, three garage buildings and an attached car care center on over 16.5 hectares. Amenities include a fitness center, pet playground, swimming pool, outdoor BBQ area, and 5-star service for residents. The loan includes a 25 basis point discount on Green Mortgage Insurance Premium (“MIP”) as Springs, South Elgin is ENERGY STAR qualified. This is the sixth refinancing Dwight has completed for Continental Properties. Executive Director, Josh Sasouness, and managing director, Kevin Lifshit, triggered this transaction.

Josh and Adam Sasouness a $ 43.9 million payout loan of HUD 223 (f) for Greystone at Widewaters, a luxury, 332-unit residential complex in Knightdale, North Carolina. The property, built in 2006, consists of 13 three-story residential buildings, a car wash, a clubhouse, and recycling and storage buildings on 24.5 hectares. Amenities include a business center, dog park, fitness center, media center, playground, swimming pool and cabana, and an outdoor fireplace with a built-in grill station. The loan benefited from a Green MIP reduction as Greystone is ENERGY STAR certified with Widewaters.

Dwight also completed a $ 35 million bridging payout refinancing for City apartments in Golden Gate, a 316 garden-style condominium in Stone Mountain, Georgia. The property consists of 36 two-story residential buildings, a clubhouse, and maintenance and security buildings on over 50 acres. Amenities include a playground, swimming pool and tennis / sports court. The Golden Gate Townhomes is also in close proximity to 3,200 acres of Stone Mountain Park, which includes a golf course, lake, and hiking trails. Ari Almond Tree, Adam Sasouness, and Jack Harare this transaction originated.

About Dwight Capital

Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States. Our range of services includes commercial loans via a variety of platforms such as FHA / HUD, bridge and mezzanine financing as well as preferred equity for stabilized and newly built properties. Dwight Capital is also one of the largest FHA / HUD multi-family and healthcare real estate lenders in the United States, offering over $ 7.5 billion in commercial real estate loans.

For more information on Dwight Capital, visit: www.dwightcapital.com