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Texas  + Chicago & Midwest + San Antonio  + Apartments  |  April 8, 2022
Erik Hamilton
By: Erik Hamilton

Dwight Capital Finances $22.7M HUD Loan for Stablewood Farms Apartments in San Antonio

Dwight Capital closed a $22.7 million HUD 223(f) loan for Stablewood Farms Apartments, a 252-unit affordable apartment community located in San Antonio, TX.

Built in 2002, the property is comprised of 16 two- and three-story garden-style apartment buildings, five garage buildings, a leasing office and community center situated on nearly 22 acres. Its amenities feature a business center, fitness center, swimming pool, and BBQ and picnic areas.

The loan benefitted from an Affordable Housing Mortgage Insurance Premium (“MIP”) reduction set at 35 basis points because 75% of the property’s units are restricted to 80% Average Median Income (“AMI”), and 20% are restricted to 50% AMI. Managing Principal Josh Sasouness originated this transaction for the borrower, Merced Housing Texas.

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Dwight Capital

About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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