Dwight Capital Finances $42M Loan for Bellingham Apartments
New York-based Dwight Capital reports it obtained more than $2.42 billion in multifamily and healthcare FHA Firm Commitments during HUD’s 2020 fiscal year. The 139 closed loans spanned across 36 states.
One such example Dwight Capital closed is a $42.3-million HUD 223(f) loan for Belleau Woods Apartments, a 339-unit garden-style apartment complex located in Bellingham. Originally built in 2003 and expanded in 2008, the property consists of 17 three-story residential buildings, a community building, and fitness center situated on nearly 16 acres.
The mortgage includes a Reduced Green Mortgage Insurance Premium (MIP) of 0.25% due to Belleau Woods Apartments’ Energy Efficient status.
This is the fourth transaction that Dwight has closed for the unnamed borrower. Josh Sasouness and Josh Hoffman originated the loan.
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