Dwight Capital Provides $34M Construction Loan For Harbor Heights II In Mystic, CT

A new multifamily property development site called Harbor Heights II in Mystic, Connecticut has secured $34 million in construction financing from Dwight Capital. The loan, a 40-year fixed-rate HUD 221(d)(4) loan, was granted to the project's sponsor, Lattizori Development. The development site spans across 5.81 acres and offers great potential for future residential units.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $34,000,000
• Address: 50 Perkins Farm Dr, Mystic, CT
• Market: Mystic, CT

The financing for the Harbor Heights II development was provided by Dwight Capital, with agency-backed construction financing. The loan was secured by Lattizori Development, the project's sponsor. Dwight Capital is noted for their expertise in providing specialized financing options for multifamily properties, ensuring the successful execution of this project.