Aug
16
Dwight Capital Lends $128M Hand in DC
ByThe 223(a)(7) loan for City Market at O was the largest in HUD’s history.
City Market @ O, Washington, D.C.
Washington—Dwight Capital has funded a $128 million FHA/HUD loan on City Market @ O, a LEED Silver certified mixed-use building consisting of 400 luxury apartments, 182 Cambria Suite hotel rooms and an 86,236-square-foot retail component on the ground floor.
“The 223(a)(7) allowed us to modify the interest rate and MIP on the existing HUD,” Josh Sasouness, Dwight Capital managing principal, told Commercial Property Executive. “As a result, the owner was able achieve over $725,000 in annual debt service savings.”
The retail space includes a Giant grocery market, Starbucks, Dolci Gelati and Convival.
The project is located in the heart of Washington, D.C.’s historic Shaw neighborhood, close to three metros…
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