NEW YORK--(BUSINESS WIRE)--Dwight Capital financed in excess of $468 MM (including Interest Rate Reductions) during April. Featured among Dwight’s closings are HUD loans for The Village at Gainesville, The Residences at Justison Landing, and a multifamily portfolio located in Oregon.
Dwight provided a $94.3 MM HUD loan for The Village at Gainesville, a 651-bed senior living community located in Gainesville, FL. The gated property is situated on a 104-acre campus, which features amenities such as a library, hair salon, tennis court, fitness center, and swimming pools. The Village at Gainesville provides its residents with services including assisted living, memory care, and board and care. It also runs a Vitality Program, which offers its residents customized wellness plans to optimize their well-being. This refinance closed as the largest healthcare 232(a)(7) loan in HUD’s history to date. Managing Principal, Josh Sasouness, and Avi Lifshitz originated this transaction.
The borrower for The Village at Gainesville — Troy Hart, President of SanteFe Senior Living — was pleased with the exceptional service he received. “The process of completing a HUD loan, even an A7, is generally not the most linear of transactions. The key to it going well is having collaborative, seasoned professionals all acting in the best interest of the borrower, the deal, and the process. We certainly had that with Dwight Capital. Thank you to the Dwight team for your professionalism and dedication. We will work to use the resources generated by the interest savings to advance our mission and care for seniors,” said Hart.
Sasouness also originated a $50.7 MM HUD 223(f) refinance for The Residences at Justison Landing, a 214-unit mixed-use project located in Wilmington, DE. Built in 2008, the property consists of two, seven-story waterfront apartment buildings, eight ground-floor retailers, and a three-story parking garage situated on over 2.6 acres. The commercial retailers include a Starbucks, pet grooming salon, juice bar, and bakery. Residences at Justison Landing is ideally situated on the Christina River waterfront and adjacent to local attractions such as Constitution Yards and the Riverfront Ice Skating Rink. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property is ENERGY STAR certified.
Dwight also closed $33 MM in HUD financing for a portfolio of five market-rate apartment complexes located throughout Oregon: Brighton Park Apartments, Crystal Lake Apartments, The Riviera Apartments, Salem Parkway Apartments, and West Salem Apartments. Together, the properties are comprised of 557 units across a total of 26 acres. All five loans qualified as green/energy efficient housing and benefitted from a reduction in MIP. Sasouness and Managing Director, Josh Hoffman, originated this transaction.
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 lending across a variety of platforms such as FHA/HUD, Bridge, and Mezzanine Financing as well as Preferred Equity for both stabilized and new-construction properties. Dwight Capital is also one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States and services in excess of $7 billion of commercial real estate loans.
For more information about Dwight Capital, please visit: www.dwightcapital.com