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Ridgewood Tags Along with Amarillo’s Growing Multifamily Rents
HUD financing to the tune of $21 million was recently obtained for Ridgewood Apartments, a 240-unit apartment complex located in Amarillo. The loan includes a Green Mortgage Insurance Premium reduction because the property is Energy Star-certified. Dwight Capital’s Daniel Malka originated this transaction.
Built in 2015, the property is comprised of 10 apartment buildings. Its amenities include a business center, pool, playground, basketball court, sand volleyball court, party room and fitness center.
The Amarillo apartment market continues to display growth characteristics with rents rising at a 2.1 percent annual rate during the first quarter of 2021 and posted an average annual gain of 1.1 percent in the past three years, according to CoStar.
- ◦Financing
