NEW YORK--(BUSINESS WIRE)--Dwight Capital announced that it closed in excess of $1.12 billion in financings through the first half of HUD’s fiscal year (HUD’s FY begins Oct. 1). During that six-month period, Dwight financed over $102.2 MM in bridge and mezzanine loans, $867 MM in FHA/MAP loans, $81.6 MM in LEAN/Healthcare loans, and $75 MM in Interest Rate Reductions (IRR). Dwight’s closings were nationwide and spanned across 30 states.
During that same six-month period, Dwight obtained over $1 billion in FHA/MAP Firm Commitments, which ranks Dwight Capital #1 among lenders both by dollar volume and number of transactions (54 loans). Under the leadership of Adam and Josh Sasouness, Dwight has consistently been a Top-5 FHA/MAP lender for each of the last five years.
Some notable transactions for the first half of HUD’s fiscal year included:
- $102.2 MM in HUD 223(a)(7) loans for a portfolio comprising 1,169 units in Maryland.
- $74.99 MM HUD 223(f) loan for Copper Creek Apartments, a 608-unit garden-style apartment complex located in Las Vegas, NV. This loan closed in February and was the largest HUD loan closed in the state of Nevada to date.
- $74.4 MM 223(f) loan for Baxter Crossings Apartments, a 694-unit, garden-style apartment complex located in Chesterfield, MO. The loan closed in January as the largest HUD refinance in the state of Missouri to date.
- $50.86 MM 232/223(f) loan for Silver Healthcare Center, a 246-bed skilled nursing facility in Cherry Hill, NJ.
- $41.76 MM 223(f) loan for Aura at Quarterpath, a 228-unit apartment community located in Williamsburg, VA.
- $39.99 MM 223(a)(7) loan for Enclave at Box Hill, a 240-unit apartment complex located in Abingdon, MD.
- $25.15 MM 221(d)(4) construction loan for Autumn Breeze Apartments, a 216-unit apartment complex located in Wilmer, TX.
- $24.8 MM 221(d)(4) loan for The Retreat at Grand Prairie, a 154-unit new construction senior housing community in Grand Prairie, TX.
- $18.1 MM 241(a) loan for Tesora II Apartments, a 92-unit apartment complex in Las Vegas, NV.
- $17.7 MM 221(d)(4) construction loan for Plum Tree Apartments, a 143-unit apartment community in Kaufman, TX.
“Our #1 HUD MAP ranking is a direct result of Dwight's culture of constant evolution. Our servicing, closing, underwriting, and origination teams are always looking for ways to improve, which resonates with our clients," said Josh Sasouness, Co-Founder and Managing Principal of Dwight Capital. "We cannot thank HUD enough for their partnership with us."
About Dwight Capital
Dwight Capital is a leader in commercial real estate finance and is one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States. Dwight has led the industry as a top-5 Multifamily & Healthcare HUD lender by both transactions and dollar amount over the past four years. Our range of services include commercial lending across a variety of platforms such as Bridge, USDA, Mezzanine, and Preferred Equity for both stabilized and new construction properties.
For more information about Dwight Capital, please visit: www.dwightcapital.com