Blue Iron Development Secures $67.5M Refinance Loan For Saratoga Springs Multifamily

The multifamily asset located at 1 Forest Ridge in Saratoga Springs consists of 260 units and was the subject of a $67.5 million loan refinance deal. The loan was provided by Dwight Mortgage Trust, with Blue Iron Development securing the financing for the Elements at Saratoga Lake property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,500,000
• Lender: Dwight Mortgage Trust - David Scheer & Joshua Klein
• Landlord: Zach Dorrough & Dave Kwiat - Blue Iron Development
• Address: 1 Forest Ridge
• Market: Saratoga Springs

Dwight Mortgage Trust, represented by David Scheer and Joshua Klein, provided the $67.5 million refinance loan for the Elements at Saratoga Lake property. The landlords, Zach Dorrough and Dave Kwiat of Blue Iron Development, finalized the deal securing the financing for the multifamily asset located in Saratoga Springs, N.Y.