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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

Dwight Capital Closes HUD Refi on South Elgin Apartments

Dwight Capital closed a $47.36-million HUD 223(f) refinance for Springs at South Elgin, a 300-unit townhome-style apartment community located in South Elgin, IL. Originated on behalf of Continental Properties, the loan includes a Green Mortgage Insurance Premium Reduction set at 25 basis points because Springs at South Elgin is Energy Star certified.

This is the sixth refinance that Dwight has closed for Continental Properties. Managing principal Josh Sasouness and managing director Kevin Lifshitz originated the transaction.

Built in 2018, the property consists of 15 two-story apartment buildings, a clubhouse/leasing office, three garage structures and an attached car care center situated on over 16.5 acres. Its amenities feature a fitness center, on-site pet playground, swimming pool and outdoor barbecue.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).