Dwight Capital Acquires Love Funding Platform
Private commercial real estate lender Dwight Capital has acquired Love Funding, the non-bank HUD lending subsidiary of Midland States Bank. Terms weren’t disclosed. Dwight Capital said that with the acquisition, it has become the largest dedicated FHA/HUD multifamily & healthcare financing firm in the nation.
The Love Funding platform will be integrated within Midtown Manhattan-based Dwight Capital. Midland States Bank will be retaining the existing $3.4-billion Love Funding servicing portfolio.
“The Love Funding team is and has been well-respected in the FHA/HUD lending industry for decades, which is why we felt they would be a seamless fit within Dwight,” said Adam Sasouness, Co-CEO of Dwight Capital. “This acquisition is a demonstration of Dwight’s commitment to build and maintain a HUD financing team that is unmatched in the industry.”
Founded in 1984 and headquartered in Washington, DC, Love Funding offers a bridge loan platform in addition to HUD-insured loan programs.
Pictured: Dwight Capital headquarters at 787 Eleventh Ave.
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