HUD Loan Includes Green Mortgage Insurance Premium Reduction
HUD financing in the amount of $30.2 million was recently provided for Cabrillo Apartments, a 242-unit apartment complex located in Las Vegas. The loan includes a Green Mortgage Insurance Premium Reduction set at 25 basis points because the property is Energy Star-certified.
Built in 2008, the property is comprised of six apartment buildings, a leasing office/clubhouse and four garage buildings. The gated community is surrounded by city and mountain views. Its amenities feature a pool, spa, business center, fitness room and common lounge areas.
Dwight Capital managing director Brandon Baksh originated this transaction.