Dwight Capital Provides $24.5 Million Loan For Wellspring Apartments In Columbia, SC

The asset involved in this transaction is Wellspring Apartments, a multifamily community consisting of 232 units located at 500 Harbison Boulevard in Columbia, SC. The property has recently secured a loan for a total amount of $24,500,000 as part of the financing arrangement.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $24,500,000
• Address: 500 Harbison Boulevard
• Market: Columbia, SC
• Units: 232
• Lender: Keith Hoffman & Aaron Kirshtein - Dwight Capital
• Loan Type: HUD 223(f) loan
• Loan Purpose: Retire existing debt and fund repairs
• Green Mortgage Insurance Premium (MIP): 25 basis points

Keith Hoffman and Aaron Kirshtein of Dwight Capital played crucial roles in originating the loan, ensuring the financing meets the property's needs for both debt retirement and necessary repairs. Their involvement highlights their expertise in facilitating multifamily financing transactions.