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Dealmaker: Dwight Capital Finances $102M
Dwight Capital and its mortgage real estate investment trust affiliate, Dwight Mortgage Trust, closed $101.8 million for apartments and nursing facilities.
![](https://newslink.mba.org/wp-content/uploads/2022/08/division-street-station-Dwight-400.jpg)
In Portland, Ore., Dwight provided a $19 million bridge refinancing in April and a subsequent $29.2MM HUD 223(f) loan in July for 126-unit apartment community Division Street Station. The bridge loan that closed in April to refinance existing bank debt was paid off with the HUD loan in July. Dwight Managing Principal Josh Sasouness originated both transactions for borrower Urban Development Group.
The HUD refinance benefitted from a green mortgage insurance premium reduction set at 25 basis points because the property is Energy Star certified. Division Street Station consists of an apartment building and commercial space occupied by Green Zebra Grocery.
Dwight also financed a $26.6 million HUD 223(f) loan for The 95 Apartments, a 224-unit garden-style property in Las Vegas. The 95 Apartments has 13 two-story buildings and a clubhouse/leasing office on eight acres.
![](https://newslink.mba.org/wp-content/uploads/2022/08/the-95-apartments-Dwight-400.jpg)
The loan benefited from a Green MIP reduction because The 95 Apartments meets Energy Star standards. Josh Sasouness and Dwight Managing Director Keith Hoffman originated this refinance, the second loan for this property and the fourth HUD transaction for sponsor Signature Management.
Additionally, Dwight closed a $27 million bridge acquisition loan for a portfolio of four assisted living and memory care facilities located in Jamestown and Frewsburg, N.Y.: Tanglewood Manor, Memory Gardens, The Magnolia and Comfort Today. Together, the facilities have 293 beds.
Dwight’s Josh Levin originated this transaction for borrower Gary Rohinsky, CEO of Culture Care Senior Living.