### Dwight Capital Secures $22.5M HUD Loan for Washington Multifamily Property
Dwight Capital has successfully closed a $22.5 million HUD 223(f) loan for Skyview Heights, a 128-unit garden-style apartment community in Airway Heights, Washington.
The loan proceeds were utilized to pay off existing debt, cover closing costs, fund a replacement reserve for future capital improvements, and provide a substantial cash-out. Additionally, the refinance qualified for a reduced Green Mortgage Insurance Premium (MIP) of 25 basis points due to the property’s GreenPoint Rated New Home Silver Level Certification for sustainable design. McBride Capital arranged the transaction.
Located at 12501 W. 6th Ave., Skyview Heights consists of 16 two-story buildings with a mix of 32 one-bedroom, 80 two-bedroom, and 16 three-bedroom units. Each apartment includes high-end finishes such as granite countertops, stainless steel appliances, fireplaces, and private balconies or patios. Residents enjoy a variety of premium amenities, including a clubhouse and lounge, BBQ area, pool and spa, and a fully equipped fitness center.
