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Mortgages

Dwight Capital and Affiliate REIT Close $475.5 Million in Real Estate Financings in May

Strategic Insights

— 1 min read

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, have closed a significant milestone in real estate financing, with a total of $475.5 million in transactions completed in May. The highlighted deals showcase the company's expertise in various real estate segments, including skilled nursing portfolios, luxury apartments, and multifamily housing. The transactions demonstrate the company's ability to cater to different client needs, from bridge loans to HUD 223(f) refinances, and its commitment to providing financing solutions that meet the requirements of its clients.

Key Takeaways:

  • Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed $475.5 million in real estate financings in May.
  • The transactions included a bridge loan for a skilled nursing portfolio in Florida, a bridge loan for Moment Apartments in Minneapolis, and a HUD 223(f) refinance for Pointe Grand Brunswick in Georgia.
  • Dwight Mortgage Trust provided an $80 million bridge loan to facilitate the acquisition of a five-property, 518-bed skilled nursing portfolio in central Florida.
  • The company also provided a $49 million bridge loan to refinance Moment Apartments, a 222-unit luxury apartment community in Minneapolis.
  • The loan proceeds for Moment Apartments were used to retire existing debt, fund reserves, and cover transaction-related costs.
  • Dwight Capital financed a $43 million HUD 223(f) loan for Pointe Grand Brunswick, a 264-unit lakefront community in Brunswick, Georgia.
  • The property's National Green Building Standard (NGBS) Bronze Level Certification qualified it for a reduced Green Mortgage Insurance Premium (MIP) to 25 basis points.
  • Dwight Mortgage Trust's loan servicing portfolio exceeds $13 billion, and the company has a range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, and Mezzanine Financing.

Statistics:

  • Total real estate financings closed by Dwight Capital and its affiliate REIT in May: $475.5 million
  • Amount of the bridge loan for the skilled nursing portfolio in Florida: $80 million
  • Number of units in the Moment Apartments luxury apartment community in Minneapolis: 222
  • Number of units in the Pointe Grand Brunswick lakefront community in Brunswick, Georgia: 264
  • Loan servicing portfolio of Dwight Mortgage Trust: over $13 billion

Sources:

  • Business Wire article, "Dwight Capital and its Affiliate REIT, Dwight Mortgage Trust, Close $475.5 Million in Real Estate Financings in May" (June 2023, no specific date available)
  • Dwight Capital LLC, about page
  • Dwight Mortgage Trust LLC, about page

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