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Dwight Mortgage Furnishes Acquisition Debt on Queens Apartments
Dwight Mortgage Trust provided a $22.2-million bridge acquisition loan for Queens Village Apartments, a 132-unit garden-style property located in Queens. The property is comprised of three- and six-story apartment buildings featuring partially rent-controlled and partially rent-stabilized units, onsite maintenance and laundry.
Managing principal Adam Sasouness originated this transaction, which was brokered by Marvin Jeremias of Crossmark Capital.
A portion of the loan proceeds will be used towards capital expenditures to renovate units and common areas, which will allow the borrower to increase rents to market rates, with the exclusion of 10 rent-stabilized units.
- ◦Financing

