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Dwight Capital Provides $18M Refinancing for North Carolina Apartments

Dwight Capital has provided a $17.8 million loan to refinance The Park at Three Oaks Apartments, a 201-unit apartment property in Wilmington, N.C.

Located on more than 13 acres, the property consists of 11, three-story apartment buildings built in 2005 and 2014. The community features a mix of one- and two-bedroom units within 198,855 square feet of net rentable area. Amenities include a clubhouse, fitness center, picnic area, playground and swimming pool with new grill areas.

Keith Hoffman and Jack Tawil of Dwight Capital secured the financing on behalf of the undisclosed borrower. The purpose of the refinance was to significantly reduce the borrower’s interest rate and debt service obligations.


Inside The Story

Dwight Capital’s Hoffman

About David Cohen

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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