Dwight Capital Provides $60M for Amarillo Apartments
The bridge loan retires a $45 million prior loan taken for the 480-unit community last summer.
Dwight Capital recently closed a $60 million bridge loan for Residences at Town Square, a 480-unit community in Amarillo, Texas.
The loan retires a $45 million loan funded by UBS.
The mixed-use community encompasses four buildings located on 32 acres at 9181 Town Square Blvd. Residences at Town Square was built in phases between 2015 and 2019. The property features one- to three-bedroom units with floorplans averaging 978 square feet, with select units offering balconies.
The community has 121,360 square feet of space dedicated to retail on the ground floor. The pet-friendly property also has a fitness center, swimming pool and playground.
The property is 10 miles southwest of downtown Amarillo, less than 4 miles from Interstate 27 and Interstate 40. Texas Tech University School of Veterinary Medicine and the Amarillo Botanical Gardens are approximately 6 miles away.
Earlier this month, Dwight Capital funded a $45 million refinance for a 264-unit community in Grand Prairie, Texas. The new agency-backed financing retired existing debt, also funded by Dwight.