Dwight Capital Provides $31M Refi for Oregon Multifamily Property
By Andrew Coen June 7, 2023 11:02 am
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Pacific Northwest developer Pahlisch Commercial has secured $31.15 million of agency-backed debt to refinance an Oregon multifamily asset, Commercial Observer has learned.
Dwight Capital provided the U.S. Department of Housing and Urban Development (HUD) 223(f) loan for the sponsor’s 130-unit Outpost 44 project in Bend, Ore. McBride Capital arranged the transaction.
The HUD-backed debt package includes a green mortgage insurance premium reduction set at 0.25 percent, since the property qualifies as green/energy-efficient housing, according to Dwight officials.
Located at 643 NE Ross Road, the 2022-completed development consists of seven apartment buildings, six townhome buildings and two amenity buildings on 5 acres. Amenities include a community lounge, a game room, a fitness center, a fire pit, a garden and storage space.
The Outpost 44 property is just over a mile from the last remaining Blockbuster video store.
Officials at Pahlisch Commercial and Dwight Capital did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
