Dwight Capital announced the closing of two cash-out refinances in IN & TX.
Josh Hoffman, managing director and Kevin Lifshitz, SVP of Dwight closed a $38,828,000 HUD 223(f) loan on Cobblestone Crossings Apartments, a 448-unit, market rate, Class A asset located in Terre Haute, Indiana.
The property was built in multiple phases between 2006 & 2014 and was awarded an ENERGY STAR Certification by the EPA, thus qualifying for HUD’s Green program and a reduced interest rate.
Separately, Dwight’s co-CEO, Josh Sasouness, originated a $18,022,700 HUD 223(f) refinance on Cadillac Lofts, a Class-A 152-unit mixed use property in a premier urban CBD location in San Antonio, Texas.
The property was built in 1922 and was upgraded and expanded over the years including a substantial rehab completed in 1998. All units were renovated in 2015 & 2016 and a rooftop pool, terrace and fitness area were added.
The 2.57-acre site in Downtown San Antonio is within walking distance of the Riverwalk and is designated on the National Register of Historic Properties as the Goad Motor Company Building and is also a certified historic structure.