Dwight Capital Closes on a 98-Unit Multifamily Complex in Rochester, Minnesota

NEW YORK--()--Dwight Capital closed a 223(a)(7) loan on The Brittany’s, a 98-unit multifamily complex in Rochester, Minnesota on Wednesday, October 29th, 2014.

Josh Sasouness, Managing Principal at Dwight Capital, originated the $9,320,800 loan, which took only three and a half months, from engagement until close. The property features two and three bedroom luxury townhouses in a popular residential neighborhood in Rochester, MN. “The Minnesota HUD office went above and beyond to facilitate the timely closing of this transaction. We are delighted to bring The Brittany’s loan into Dwight Capital’s portfolio, and look forward to working with Minnesota HUD again in the near future,” said Sasouness.

The refinance entailed a savings of over $150,000 of annual debt service obligations while also financing significant capital expenditures including roof replacements and sprinkler repairs. “Dwight Capital made everything easy and cost-effective. They did a super job overall!” said Jerry Nelson, owner of The Brittany’s.

About Dwight Capital

Dwight Capital, headquartered in New York, is an FHA/HUD approved lender and CMBS lender, focusing on the origination of multifamily and healthcare mortgages. To complement those business lines, Dwight Capital also offers bridge loans and preferred equity/mezzanine loans. Dwight Capital prides itself on providing innovative and creative financial solutions for our clients. For more information about Dwight Capital, please visit: www.dwightcapital.com

Contacts

Dwight Capital
Becca Glikman, 347-846-0674
bg@dwightcap.com

Release Summary

Dwight Capital Closes on a 98-Unit Multifamily Complex in Rochester, Minnesota

Contacts

Dwight Capital
Becca Glikman, 347-846-0674
bg@dwightcap.com