Dwight Capital Provided A Loan Of $35 Million For Michigan Townhome Apartments

Dwight Capital has closed on a deal to lend nearly $35 million of U.S. Department of Housing and Urban Development (HUD)-backed mortgage for the refinance of a multifamily asset in rural Detroit.

The Manhattan-based group provided the HUD 223(f) loan for Central Park Estates, a 254-unit townhome-style apartment community in Novi, Mich. Dwight managing directors Josh Hoffman and Kevin Lifshitz arose the transaction, which indicated the company’s third refinance of the property.

Constructed between 2001 and 2003 at 47305 Central Park Boulevard, the estate consists of 43 two- and three-story residential buildings, a clubhouse/leasing office, and a gatehouse. 

The community’s facilities feature a basketball court, community room, fitness center, playground, and tennis court.

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