Dwight Capital Finances $39M Loan for Oregon Multifamily Development
Dwight Capital has closed a $39 million HUD 223(f) refinance for Timberview Apartments, a newly developed 174-unit apartment community in Oregon City, Oregon.
Loan proceeds will be used to retire a bridge loan provided by Dwight Mortgage Trust, cover closing costs, and establish a replacement reserve account for future capital improvements. The transaction was originated by Andrew Tichy and arranged by McBride Capital on behalf of Dwight’s repeat client, Pahlisch Commercial.
The property spans over seven acres and consists of three buildings with 141 single-story units, as well as seven buildings with 33 townhouse units and attached single-car garages. The community also features a single-story clubhouse with a leasing office, along with six detached garage buildings.
Community amenities include a swimming pool with sundeck, fitness center, resident lounge with fireplace, bike repair and wash station, dog wash, and playground. Residences feature stainless-steel appliances, quartz countertops, full-size washers and dryers, and private patios and balconies.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout