Dwight Capital Refis Colorado Springs Apartments With $48M HUD Loan

A joint venture between Dunn & Associates and Denver Land Co. has secured $48.3 million of U.S. Department of Housing and Urban Development (HUD)-backed debt to refinance a multifamily property in Colorado Springs, Commercial Observer has learned.

Dwight Capital closed the HUD 223(f) loan for the The Plaza at Pikes Peak apartment complex, which was completed in 2022. Jonathan Pomper and Jack Tawil originated the financing for Dwight.

The transaction qualified for a green mortgage insurance premium reduction to 0.25 percent due to the property earning a GreenPoint Rated silver-level certification.

Located at 710 East Pikes Peak Avenue, 15 miles south of the Air Force Academy, the 215-unit apartment community comprises 43 studios, 134 one-bedroom units, and 38 two-bedroom  layouts. Community amenities include a fitness center, swimming pool, courtyard with fire pit, dog park, rooftop lounge, yoga studio and co-working spaces.

Officials at Dunn & Associates, Denver Land Co. and Dwight did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com