Dwight Capital Provides $60.8M HUD Refinancing for Affordable Housing Community in Herndon, Virginia

by Julia Sanders

HERNDON, VA. — Dwight Capital has provided a $60.8 million HUD 223(f) cash-out refinancing loan for Coppermine Run, a 288-unit affordable housing community in Herndon. Brandon Baksh of Dwight Capital originated the loan transaction. The loan includes a Green Mortgage Insurance Premium (MIP) Reduction set at 25 basis points because Coppermine Run is Energy Star-certified.

Coppermine Run includes 11 four-story residential buildings and a clubhouse and leasing office situated on 15.7 acres. The property offers two-bed/one-bath, two-bed/1.5 bath and three-bed/two-bath floorplans. Unit features include trash and snow removal, walk-in closets, central air and heat, cable ready and updated appliances and cabinets. Community amenities include a basketball and multi-sports court, fitness center, playground, swimming pool with sundeck and walking paths.

Located at 2450 Masons Ferry Drive, Coppermine Run is situated 19.7 miles from Arlington, 25 miles from Washington, D.C., and 31.6 miles from Alexandria.

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