Dwight Capital Provides $94M HUD Loan for Gainesville Senior Housing Asset
Dwight Capital has closed a landmark transaction with $94 million of U.S. Department of Housing and Urban Development (HUD)-backed debt supplied for the refinance of a Gainesville, Fla., senior-living community, Commercial Observer can first report.
The loan marks the largest to date under HUD’s 232(a)7 health care program, according to Dwight officials. Dwight Managing Principal Josh Sasouness and Avi Lifshitz originated the deal.
Located at 8000 NW 27th Boulevard, The Village at Gainesville is located on 104 acres, about eight miles from the University of Florida campus. Amenities at the 651-bed facility include a library, convenience store, hair salon, tennis court, fitness center, swimming pools, and community and game rooms.
“The process of completing a HUD loan, even an A7, is generally not the most linear of transactions,” said Troy Hart, president of SanteFe Senior Living, which was the borrower on the transaction. “The key to it going well is having collaborative, seasoned professionals all acting in the best interest of the borrower, the deal, and the process.”