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KANSAS CITY, MO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $56 million bridge loan for Willow Creek Apartments in Kansas City. The loan will be utilized to refinance existing debt, complete remaining construction costs, cover closing costs and fund required escrows. David Scheer of Dwight Capital originated the financing on behalf of the borrower, KC Willow Creek LLC.
Willow Creek Apartments consists of 998 apartments across 43 buildings. The garden-style community is situated on about 70 acres. Units come in one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, racquetball and tennis courts, garage parking and a clubhouse with a business center.