Dwight Capital Secures $114.06 Million Construction Loan For 373-Unit Multifamily Project In Milwaukee

The property asset is a multifamily building located at 100 East Wisconsin Avenue in Milwaukee, featuring a total of 373 units. The loan amount secured for this construction project is $114,061,500. The building is notable for being among the youngest entries to the National Register of Historic Places, recognized for its architectural significance on January 16, 2025. It has also qualified for federal and state historic tax credits, with additional support from the City of Milwaukee through a tax increment financing package of up to $16.6 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $114,061,500
• Lender: Keith Hoffman & Jack Tawil - Dwight Capital
• Landlord: Joe Klein, Michael Klein, Derek Schneider - Klein Development; Johnny Vassallo - MOS R.E.
• Loan Type: Construction
• Milestones: Largest multifamily HUD loan closed in Wisconsin; Largest multifamily loan approved by HUD's Midwest Region Office; Largest HUD 221(d)(4) construction loan in Dwight Capital's history.

The key individuals involved include Joe Klein from Klein Development, who emphasized the significance of the project for downtown Milwaukee and noted Dwight Capital's effective and collaborative approach throughout the loan process. Keith Hoffman and Jack Tawil were instrumental at Dwight Capital, providing strategic guidance and ensuring a proactive response during the complexities of this transaction.