Dwight Capital Supplies $27M HUD Loan for Maryland Luxury Community
Dwight Capital has provided nearly $27 million of U.S. Department of Housing and Urban Development (HUD)-backed debt for the refinance of a multifamily asset in suburban Baltimore, Commercial Observer has learned.
The New York City-based lender supplied the HUD loan for Enclave at Box Hill Phase II, a 149-unit luxury apartment community in Abingdon, Md.
Dwight Capital’s Brian Yee originated the transaction.
The loan includes a green mortgage insurance premium reduction set at 0.25 percent, since the property is designated as green/energy-efficient housing, according to Dwight officials.
Located at 3405 McCurley Drive, the complex built in 2018 comprises seven apartment buildings. It is part of the Enclave at Box Hill apartment community, where Phase I includes a 240-unit complex that Dwight refinanced last year.
The two phases at Enclave at Box Hill share amenities that consist of a clubhouse, fitness center with yoga room, children’s playroom, business center, outdoor kitchen and seating area, resort-style pool, fire pits, fenced-in dog park and walking trail.
Enclave at Box Hill officials declined to comment.