Dwight Capital Provides $36M HUD Financing for Norfolk Apartments
Commercial real estate finance company Dwight Capital has provided a $35.7 million HUD refinancing for 201 Twenty One Apartments, a four-story mixed-use property in Norfolk.
Located in Norfolk, the property consists of 225 units and six commercial ground-floor units. Amenities include a leasing office, fitness center, lounge with pool tables, business center, theater, as well as a central courtyard with a pool, putting green, and grills. 201 Twenty One’s commercial retailers include a frozen yogurt shop, sushi bar, spa, Five Guys, and Walgreens.
The loan benefitted from a Green Mortgage Insurance Premium (MIP) Reduction set at 25 basis points because the property is ENERGY STAR certified. Daniel Malka of Dwight Capital originated the transaction.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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