Dwight Capital Provides $20M HUD Loan to Refinance Florida Apartment Asset
Dwight Capital has provided more than $20 million in U.S. Department of Housing and Urban Development (HUD)-backed financing for the refinance of a Florida apartment complex, Commercial Observer has learned.
The HUD refinance was arranged for Twin Oaks at Southwood, a 242-unit asset in Tallahassee, Fla.
Dwight Capital Managing Principal Adam Sasouness and Managing Director Kevin Lifshitz originated the transaction.
Built in 2002, Twin Oaks is comprised of 30 apartment buildings and one community building. The property’s amenities include a fitness center, business center, swimming pool, regulation-size basketball court and tennis courts.
Located at 2500 Merchants Row Boulevard, Twin Oaks is part of a 3,200-acre master-planned community that includes more than 1,000 acres of parks, lakes, ponds, walking trails and bike paths.
Monthly rents for one-bedroom residences range from $955 to $1,010, $1,155 to $1,255 for two-bedroom units, and $1,375 to $1,495 for three bedrooms, according to Apartments.com.
Twin Oaks officials could not immediately be reached for comment.