June 16, 2020
New York-based Dwight Capital closed over $233 million in loans during the month of May. One of the financings involved an apartment community in Sherwood.
The $27.89 MM HUD 223(a)(7) loan was for Creekview Crossing Apartments, a 183-unit apartment community. Built in 2009, the property at 21759 SW Cedar Brook Way is surrounded by lush landscaping and is near the Tualatin River National Wildlife Refuge.
Creekview Crossing has been HUD-insured since 2010, but with this refinance the Dwight team was able to achieve an ENERGY STAR certification for the property, which generated substantial savings for the borrower including a reduced MIP of 0.25%.
Dwight Capital Managing Principal Josh Sasouness originated the loan.
For comments, questions or concerns, please contact Dennis Kaiser