Dwight Capital Refis Texas Apartments With $31M Loan

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ChadNic Properties has landed a $31.4 million loan backed by U.S. Department of Housing and Urban Development (HUD) to refinance a multifamily asset in the Dallas-Fort Worth region, Commercial Observer has learned.

Dwight Capital supplied the HUD Section 223(f) loan on ChadNic’s The Village at Lakefront apartment complex in Little Elm, Texas. Brandon Baksh originated the transaction for Dwight.

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The financing includes a green mortgage premium reduction set at 0.25 percent since the property is in the process of achieving an National Green Building Standard Bronze certification, according to Dwight. 

Located at 201 East Eldorado Parkway about 33 miles north of Downtown Dallas, the 2017-built property consists of 242 units in four-story apartment buildings on 6.4 acres near Lewisville Lake. The property’s amenities include a clubhouse with a community room, a fitness center and a leasing office. 

Officials at Dwight and ChadNic did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com