Andrew Tichy Of Dwight Capital Provides $95.5 Million Refinance For Multifamily Communities In Corpus Christi

The assets involved in the transaction include the 336-unit La Joya by Azali and the 312-unit Azali Heights multifamily communities, located at 1514 Ennis Joslin Road and 3802 Saratoga Boulevard in Corpus Christi, Texas. The total loan amount is $95,500,000, with a refinancing focus on enhancing the properties and improving the overall asset value.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $95,500,000
• Units: 648
• Loan Type: Refinance
• Originator: Andrew Tichy
• Originator Company: Dwight Capital
• Loan Amount for La Joya: $48,200,000
• Loan Amount for Azali Heights: $47,300,000

Andrew Tichy represented Dwight Capital in this transaction, successfully closing two HUD 223(f) refinancing loans. The proceeds from these loans were allocated for retiring existing debt, funding property improvements, covering closing costs, and establishing replacement reserves for the multifamily communities.