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Dwight Capital Provides $60M Construction Loan For 184-Unit Lotus Alchemy In Downtown Salt Lake City
FINANCED
$60,000,000
MultiFamily
Financed 02/12/2026
FINANCED
Dwight Capital Provides $60M Construction Loan For 184-Unit Lotus Alchemy In Downtown Salt Lake City
48 West 700 South, Downtown Salt Lake City
See Similar DealsMultiFamily
Financed 02/12/2026
Summary
UTAH
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in this transaction is a 184-unit multifamily development located at 48 West 700 South in Downtown Salt Lake City, UT. The project includes retail space, a parking garage, and various amenities such as a pool and fitness center. The loan amount secured for this construction is $60,000,000, backed by HUD.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Loan Type: Construction
- Lender: Brandon Baksh - Dwight Capital
- Market: Salt Lake City, UT
- Units: 184
This deal was facilitated by Brandon Baksh from Dwight Capital, who provided the financing for the construction of the Lotus Alchemy development. The transaction reflects significant investment in the Salt Lake City market, indicating growth potential for multifamily housing in the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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