Dealmaker: Dwight Capital & Dwight Mortgage Trust Finance $358M Over Multiple Transactions

(Residences at Town Square courtesy of Dwight)

Dwight Capital, New York, and its affiliate REIT, Dwight Mortgage Trust, closed $357.4 million in a number of transactions in May.

DMT financed a $142 million bridge acquisition loan for a portfolio of ten skilled nursing facilities located near the Atlanta; Memphis, Tenn.; Mobile, Ala.; and Shreveport, La., areas. They contain more than 1,300 beds total.

Adam Offman, Managing Director of Healthcare Finance, originated the loan for recurring Dwight clients.

DMT also provided $67.5 million in bridge financing for Elements at Saratoga Lake, a luxury townhome apartment complex in Saratoga Springs, N.Y.

The property’s second phase is scheduled for completion in July. The loan proceeds will be utilized to refinance existing debt and supplement construction expenses. Dwight Managing Director David Scheer, alongside Joshua Klein, originated this transaction on behalf of the sponsors, Zach Dorrough and Dave Kwiat of Blue Iron Development.

Dwight also closed a $58.6 million HUD 223(f) loan for Residences at Town Square, a mixed-use apartment complex in Amarillo, Texas.

Proceeds will be utilized to retire debt from a $60 million bridge loan DMT provided in 2021 and fund energy-efficient enhancements.

The loan also qualified for a Green Mortgage Insurance Premium reduction to 25 basis points due to the property being set to achieve a National Green Building Standard Bronze certification.

Dwight Vice President Daniel Malka originated this transaction for a recurring Dwight client, Williams Group, with Daniel Hartnett of Greysteel serving as the correspondent.