Dwight Lends $29M on Connecticut Luxury Multifamily Property
Dwight Capital has supplied $29 million refinance for a newly-built Connecticut multifamily asset, Commercial Observer can first report.
The Manhattan-based alternative lender provided the bridge loan for Harbor Heights Apartments, a 121-unit luxury apartment community in Mystic, Conn. Dwight Vice President Daniel Malka, and Jacob Gauptman, an originator, spearheaded the transaction.
Proceeds from the Dwight financing paid off an existing construction loan and will also be used towards pre-development costs for a second phase of the property, which includes a planned 72,000 square-foot surgical center.
Located at 50 Perkins Farm Drive, Harbor Heights Apartments was completed last year with one four-story building that includes an onsite leasing/management office situated on 10.5 acres. Its amenities include a clubhouse with kitchen, conference room, dog park, fitness room, swimming pool and outdoor barbeque area.
Trio Properties, manager of Harbor Heights Apartments, did not immediately return a request for comment.
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