Dwight Capital Supplies $56M HUD Loan for Dallas-Area Apartments

StoneHawk Capital Partners has sealed $56 million of U.S. Department of Housing and Urban Development (HUD)-backed construction debt to build a multifamily development in suburban Dallas, Commercial Observer has learned.

Dwight Capital originated the HUD 221(d)(4) construction loan for the planned 269-unit StoneHawk Rosehill project in Garland, Texas. Brandon Baksh and Brian Yee originated the deal for Dwight. 

StoneHawk obtained zoning board approvals from the Garland City Council to build resedential units on the 7-acre site off Interstate 30.

Located 15 miles northeast of Downtown Dallas, the StoneHawk Rosehill project will consist of one- and two-bedroom apartments with 51 percent of the units designated as affordable housing. Community amenities will include a clubhouse, a fitness center and a swimming pool.

StoneHawk Capital Partners and Dwight did not immediately return requests for comment.

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