Dwight Capital & Dwight Mortgage Trust Close $390MM in Seniors Housing During Q2 2024

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (DMT), financed $390.4 million in seniors housing during Q2 2024. The transactions included significant bridge loans for skilled nursing portfolios across several states, highlighting DMT's continued active involvement in this sector.

DMT provided a $142.0 million bridge acquisition loan for a portfolio of ten skilled nursing facilities (SNFs) in prime urban areas surrounding Atlanta, GA; Memphis, TN; Mobile, AL; and Shreveport, LA. The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing. Collectively, these facilities total 1,371 beds. Adam Offman, Managing Director of Healthcare Finance, and Sheldon Frankel originated this loan for recurring Dwight clients.

DMT also financed a $45.2 million bridge acquisition and refinance loan for a portfolio of six skilled nursing facilities in Massachusetts and Georgia, totaling 785 beds. Yossi Benish, VP of Business Development, originated this transaction.

Offman also originated a $33.2 million bridge refinance for a 436-bed portfolio of three SNFs in Florissant and Jackson, MO. The loan proceeds will be used to refinance existing debt and reimburse capital expenditures on the facilities.

Some other notable Q2 2024 seniors housing transactions include:

• $29.8 million HUD 232/223(f) loan for a 120-bed skilled nursing facility in the Southwest.

• $17.5 million HUD 232/223(f) refinance for The Mansion on Main, a 141-bed assisted living facility (ALF) in New Albany, IN.

• $14.2 million bridge refinance for a 203-bed portfolio of two SNFs in Ohio.

• $14 million HUD 232/223(f) loan for Arroyo Gardens, a 91-bed ALF in Green Valley, AZ.

• $13.1 million bridge refinance for a 243-bed portfolio of two SNFs in the Southeast.

• $9.3 million HUD 232/223(f) loan for Evansville Manor, a 96-bed SNF in Evansville, WI.