Dealmaker: Dwight Capital, DMT Close $569M Across Numerous Transactions

(LC Line and Low, courtesy of DMT)

Dwight Capital, New York, and its affiliate REIT, Dwight Mortgage Trust, closed $569 million in real estate financing in July across multiple transactions.

Among those: DMT provided a $110 million bridge loan to refinance LC Line and Low, a mixed-use development featuring a range of residential units and seven retail suites in Charleston, S.C. Loan proceeds will refinance existing construction debt, cover transaction costs and fund remaining construction.

The transaction was originated by Brandon Baksh, Noah Greenwald and Talisse Thompson on behalf of sponsor Lifestyle Communities.

Also, Dwight Capital closed a $49.7 million 35-year fixed-rate HUD 223(f) loan for Elements Apartments in Santa Maria, Calif. The property, which also features two commercial spaces, was completed in 2023. It’s GreenPoint Rated New Home Silver certified. Loan proceeds will be used to pay off existing debt, cover closing costs and establish a replacement reserve for future capital improvements.

The transaction was originated by Josh Hoffman and Jonathan Pomper for The Vernon Group.

And, Dwight financed a 35-year fixed-rate HUD 223(f) loan at $48.3 million for The Plaza at Pikes Peak in Colorado Springs, Colo., featuring 215 units. The property also holds a GreenPoint Rated Silver certification for existing homes and multifamily.

Jonathan Pomper and Jack Tawil originated the transaction on behalf of the borrowers, Ryan Dunn of Dunn & Associates and Taylor Turano of Denver Land Co.