Dealmaker: Dwight Mortgage Trust Announces $41M Brooklyn Financing

(Amnia, courtesy of DMT)

Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided $41.2 million in bridge financing for Amnia, a newly constructed luxury high-rise in downtown Brooklyn, New York.

Amnia, with 13 stories, offers 73 units in layouts ranging from studio to three-bedroom, and a number of amenities.

It has 22 affordable units and will benefit from a long-term tax abatement in accordance with the 421(a) Affordable Housing New York Program.

Proceeds from the loan were used to refinance existing construction debt and provide additional capital to the borrower, Bruklyn Builders Inc.

Pinchas Vogel at Landstone Capital Group brokered this transaction.