Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + Midwest  + Apartments  |  July 16, 2025
Jasmine Kilman
By: Jasmine Kilman

Dwight Capital Closes $62M in Financing for Midwest Apartment Properties

Dwight Capital closed a combined $61.9 million in HUD 223(f) financing for Springs at Bettendorf in Bettendorf, Iowa, and The Grove in Saint Paul, Minnesota. Both loans were closed on behalf of a repeat client, Continental Properties, based out of Menomonee Falls, Wisconsin.

Springs at Bettendorf is a townhome-style community comprised of 15 two-story apartment buildings with 316 market-rate units, a standalone clubhouse, and a maintenance building. It offers studio, one-, two-, and three-bedroom layouts. The Grove is a modern, six-story luxury community with 118 market-rate units, offering 28 unique floor plans that include studio, one-, two-, and three-bedroom apartments.

Springs at Bettendorf is ENERGY STAR certified, and The Grove is GreenPoint Gold Rated, underscoring their commitment to environmentally sustainable design and energy efficiency. The loan proceeds for both financings will be used to retire existing debt, cover closing costs, complete repairs, and establish funds for future capital expenditures.

Connect

Inside The Story

Dwight Capital

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
Order Reprints
New call-to-action
New call-to-action
New call-to-action