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Dwight Capital Provides $47.4M HUD-Insured Loan for Refinancing of Apartment Property in South Elgin

SOUTH ELGIN, ILL. — Dwight Capital has provided a $47.4 million HUD 223(f) loan for the refinancing of Springs at South Elgin, a 300-unit apartment property. Built in 2018, the asset consists of 15 townhome-style buildings. Amenities include a clubhouse, car care center, fitness center, pet park, pool and barbecue area. Josh Sasouness and Kevin Lifshitz of Dwight originated the loan on behalf of the borrower, Continental Properties. The loan includes a Green Mortgage Insurance Premium (MIP) reduction set at 25 basis points since the property is Energy Star-certified.

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