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ASHBURN, VA. — Dwight Capital has provided a $66.8 million HUD 223(f) refinancing loan for Ashburn Meadows Apartments, a 336-unit affordable housing community located in Ashburn. Brandon Baksh of Dwight Capital originated the transaction, which is the fourth refinance that Dwight has closed for the undisclosed borrower. The loan includes a reduced Mortgage Insurance Premium (MIP) set at 25 basis points as the property is classified by HUD as “Broadly Affordable.”
Built in two phases in 2000 and 2002, Ashburn Meadows includes 14 three-story apartment buildings and a one-story clubhouse situated on over 18.3 acres. Community amenities feature a fitness center, barbeque grill area, swimming pool with sundeck and walking trails.