Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), closed $446.8 million in real estate financings in June.
The largest transaction was a $230 million bridge loan financed by DMT to support the acquisition of a 19-property skilled nursing/assisted living portfolio located throughout Ohio. These facilities comprise a total of 1,896 beds. In conjunction with the bridge loan, Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs.
The $230 million financing marks DMT’s largest bridge transaction to date, highlighting Dwight’s strong presence in the healthcare lending space. It was originated by Adam Offman, Managing Director of Healthcare Finance, and Yossi Benish, Vice President of Business Development.
Dwight Capital also closed a combined $61.9 million in two HUD 223(f) loans for Springs at Bettendorf, a 316-unit townhome-style community in Bettendorf, Iowa, and The Grove, a 118-unit luxury multifamily property in Saint Paul, Minnesota.
Springs at Bettendorf is ENERGY STAR certified, and The Grove is GreenPoint Gold Rated, reflecting a commitment to environmentally sustainable design and energy efficiency. The loan proceeds from both loans will be used to retire existing debt, cover closing costs, complete repairs, and establish funds for future capital expenditures. Both loans were closed on behalf of repeat client, Continental Properties, based out of Menomonee Falls, WI.
About Dwight Capital
Dwight Capital LLC is a leading commercial real estate finance company in the United States, with a loan servicing portfolio exceeding $13 billion. Our services encompass a wide range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing, Mezzanine Financing, and Preferred Equity.
For more information about Dwight Capital, please visit: www.dwightcapital.com
About Dwight Mortgage Trust
Dwight Mortgage Trust LLC (“DMT” or the “Fund”) is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy.
For more information about Dwight Mortgage Trust, please visit: www.dwightmortgagetrust.com
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Contacts
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