Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13
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Dwight Capital provided a $31.15 million HUD 223(f) loan for Outpost 44, a 130-unit apartment complex in Bend, Oregon. The property was completed in 2022 and has seven apartment buildings, six townhome buildings, and two amenity buildings across five acres.
The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points as the property is achieving an ENERGY STAR certification, qualifying as energy-efficient housing. McBride Capital brokered the transaction for the borrower, Pacific Northwest developer Pahlisch Commercial.
Located at 643 NE Ross Road, the new complex features 1-, 2- and 3-bedroom apartments and 3-bedroom townhomes with connected garages. Amenities include a community lounge, a game room, a fitness center, a fire pit, a garden and storage space.
Hud Dwight Capital is one of the country’s largest commercial real estate finance companies. The company specializes in new construction loans, FHA/HUD loans, mezzanine financing and preferred equity.