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Chicago & Midwest  + Greater Chicagoland  + Finance  | 
Mallard Lake Apartments Wheeling IL

Dwight Capital Provides HUD Refi on Wheeling Apartments

Dwight Capital provided $55 million in HUD financing for Mallard Lake Apartments, a 481-unit apartment complex in Wheeling, IL. Managing director Keith Hoffman originated this transaction, which closed as reportedly the largest HUD 223(a)(7) refinance in Illinois to date. 

The property is comprised of 52 one- and two-story buildings and a leasing office. Its amenities include a fitness center, community room, tennis court and swimming pool.  

The loan benefitted from a Green Mortgage Insurance Premium set at 25 basis points because the property is ENERGY STAR certified.  

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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 16-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 7-10 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 GlobeSt.com 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).

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