New York-based commercial real estate finance company Dwight Capital has provided a $45 million, HUD 223(f), 35-year fixed-rate loan for Villa Lucia Apartments, a 272-unit multifamily community in Fresno, CA. The firm’s Ari Mandelbaum originated the transaction for the sponsor, Latco Enterprises.
“Dwight has been an ideal lender for us, as they are experts in the national multifamily market and truly understand our needs,” said Latco owner Robert Lattanzio. “We are grateful to have the Dwight team as a resource and guide for future transactions.” Dwight previously provided a loan for Latco and the Villa Lucia Apartments in 2016.
The property consists of 42 one- and two-story apartment buildings, 19 garage buildings and a clubhouse spread across 20 acres. Community amenities include a courtyard, fitness center, playground, pool and spa. The refinance benefited from a Green Mortgage Insurance Premium Reduction because the community qualifies for NGBS Bronze Certification.