Seattle & Northwest + Washington + Apartments | February 13, 2023

Dwight Capital Finances $33M Loan for Pullman Apartments

Real estate finance company Dwight Capital has closed a $32.9 million HUD refinance for Pimlico Apartments, a 361-unit multifamily complex in Pullman, WA. Located at 1455 NE Brandi Way, the community is comprised of 30 three-story buildings on 17 acres, and includes on-site parking and an on-site management office.

Pimlico Apartments was completed in two phases between 2014 and 2016. Dwight Capital Managing Director Keith Hoffman and Jack Tawil originated the transaction on behalf of the borrower, Corporate Pointe Developers. The HUD 223 (f) loan benefited from a Green Mortgage Insurance Premium reduction set at 25 basis points because the property is ENERGY STAR certified.

“A green HUD refinance was far and away the best execution to meet our clients goals, and our vertically integrated specialized HUD platform ensured a seamless execution from start to finish during this very volatile climate,” said Hoffman.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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