Dwight Capital Provides $31.4M Refi Loan for Little Elm Apartment Owner
New York City-based Dwight Capital has provided a $31.4 million HUD-insured loan for the refinancing of The Village at Lakefront, a 242-unit multifamily property located in the North Texas community of Little Elm.
The financing includes a green mortgage premium reduction set at 0.25 percent since the property is in the process of achieving a National Green Building Standard Bronze certification, according to Dwight.
Located at 201 East Eldorado Parkway about 33 miles north of Downtown Dallas, the 2017-built property consists of 242 units in four-story apartment buildings on 6.4 acres near Lewisville Lake. The property consists of two four-story apartment buildings, a clubhouse with a community room, fitness center and a leasing office.
Brandon Baksh of Dwight Capital originated the financing through HUD’s 223(f) program on behalf of the borrower, ChadNic Properties.