Dwight Capital Lends $60M on Luxury Apartments in Amarillo, Texas

reprints


Dwight Capital has closed on a $60 million cash-out bridge loan to refinance a mixed-use apartment complex in northwest Texas, Commercial Observer can first report.

The loan will retire existing debt on Residences at Town Square, a 480-unit luxury multifamily asset in Amarillo, Texas. The financing package was originated by Dwight Vice President Daniel Malka with Daniel Hartnett of Greysteel arranging the transaction on behalf of the borrower, Texas Residences at Town Square

SEE ALSO: Freddie Mac Predicts Record Multifamily Originations in 2021

Located at 9181 Town Square Boulevard, the property was built between 2015 and 2019, and consists of four five-story buildings situated on more than 32 acres. Its amenities include a fitness center, playground and resort-style pool. There is also 121,360 square feet of ground-floor retail space that includes a dental office, nail bar, spa, and steakhouse.

Residences at Town Square officials did not immediately respond to a request for comment on the loan.

Andrew Coen can be reached at acoen@commercialobserver.com.