Dwight Capital Provides $60M Construction Loan For 184-Unit Lotus Alchemy In Downtown Salt Lake City

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.