CORRECTING and REPLACING Dwight Capital Expands Role in Green Space by Funding Energy Efficient Multifamily Housing Projects
Company Continues Development in Sustainable Real Estate
NEW YORK–(BUSINESS WIRE)–Please replace the release dated January 22, 2018 with the following
corrected version. The information on the properties that Dwight
financed through the Program in 2017 has been updated.
The corrected release reads:
DWIGHT CAPITAL EXPANDS ROLE IN GREEN SPACE BY FUNDING ENERGY
EFFICIENT MULTIFAMILY HOUSING PROJECTS
Company Continues Development in Sustainable Real Estate
Dwight Capital, a national commercial lender, funded twenty-two FHA
loans in 2017 through HUD’s “Green MIP” initiative. The loans, totaling $337,848,100,
represented 33% of total transaction volume for Dwight in 2017
(total HUD transaction volume for 2017 was north of $1 Billion)
Dwight prides itself on its deep market knowledge, breadth of client
base, and expanding presence in the ‘green’ real estate market. Over the
past year, Dwight continued its efforts towards long-term sustainability
by funding multiple green, energy-efficient multifamily assets across
the country.
Co- CEO, Josh Sasouness, had this to say: “HUD’s Green MIP program is a
major win for owners, developers, tenants, and perhaps most importantly
the environment. It is an excellent example of how public policy can
positively influence the private sector.”
To qualify as an energy efficient multifamily housing project and obtain
a reduced Mortgage Insurance Premium (MIP), the property must meet
industry standards for green building and achieve an ENERGY STAR (or
other similar) certification.
Justin Swartz of Oxford Enterprises stated “For a recent HUD 223(f)
refinance, our asset qualified for HUD’s recent Green MIP program thanks
to the persistence and creativity of the Dwight Capital team. Even
though we initially had trouble certifying our project, the folks at
Dwight were able to successfully navigate us through the intricate
process. We were extremely impressed with the Dwight Team, their
knowledge of HUD and their ability to make an extremely complex process
simple and efficient.”
Below are several properties that Dwight financed through the Program in
2017:
- The Boulevard, Corinth, TX – $24,102,000
- Tivoli Apartments, Las Vegas, NV – $48,000,000
- Brentwood Estates, Springfield, OR – $34,500,000
- Waters View Apartments, Cohoes, NY – $30,000,000
- 3343 Memorial Apartments, Murfreesboro, TN – $23,780,200
- Brant Creek Apartments, St. Marys, GA – $20,208,000
-
Vantage Pointe Homes at Marrowbone Heights, Ashland City, TN–
$16,987,700
About Dwight Capital:
Dwight
Capital, headquartered in New York, is an FHA/HUD approved lender
and CMBS lender, focusing on the origination of multifamily and
healthcare mortgages. To complement those business lines, Dwight Capital
also offers bridge loans and preferred equity/mezzanine loans. Dwight
Capital prides itself on providing innovative and creative financial
solutions for our clients.
For more information on Dwight Capital or the Green Loan Market, contact
Chelsea Ward at 347-338-6365 or [email protected].
Contacts
Dwight Capital
Chelsea Ward, 347-338-6365
[email protected]
