Dealmaker: Dwight Capital, Dwight Mortgage Trust Finance $92M

Dwight Capital and its mortgage real estate investment trust affiliate Dwight Mortgage Trust closed $92.1 million for apartments and nursing facilities.

Among the transactions were HUD 223(f) loans for Country Club Lakes Apartments and Winchester Place Apartments and a bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare.

Dwight closed two separate loans totaling $64.9 million for client Midwest Diversified, including a $33.2 million refinance for Country Club Lakes Apartments, a 196-unit garden-style property in Coconut Creek, Fla. and a $31.7 million loan for Winchester Place Apartments, a 312-unit community in Fairview Heights, Ill.

Both loans benefitted from a Green Mortgage Insurance Premium reduction set at 25 basis points. Country Club Lakes qualified for the reduced interest rate by achieving Energy Star certification. Winchester Place qualified because the property is pursuing National Green Building Standard certification. Managing Director Josh Hoffman originated the refinances for Midwest Diversified.

Dwight Mortgage Trust closed a $27.2 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility in New Smyrna Beach, Fla. DMT Managing Director Josh Sturm originated the 30-month loan.