Dealmaker: Dwight Mortgage Trust Finances $88M for Southeast Apartment Communities

(Britt Lake, courtesy of Dwight Mortgage Trust)

Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, New York, closed a pair of five-year, fixed-rate financings totaling $88.4 million for three multifamily communities in Alabama and North Carolina.

Both transactions were originated by Dwight’s Andrew Tichy and brokered by Moshe Feiner of Sevenstone Capital.

The five-year, fixed-rate structure provides the borrowers with the benefits of in-house servicing, flexible loan structuring and a streamlined closing process.

The three properties include Mosaic Apartments, a 456-unit multifamily community in Tuscaloosa, Ala., and Brit Lake (216 units) and Woodland Village (96 units) in Fayetteville, N.C. Loan proceeds were used to refinance existing debt, cover transaction-related costs and fund an interest reserve.