Dwight Capital & Dwight Mortgage Trust Finance Over $168.9MM in January 2023
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed over $168.9MM of commercial real estate loans during January. Featured among the transactions are HUD refinancings for Resort at Jefferson Park, Resort at Jefferson Ridge, and Harlem Center for Nursing and Rehabilitation.
Dwight closed a pair of loans in Irving, TX, including a $47.27MM HUD 223(f) loan for Resort at Jefferson Park and a $45.7MM HUD 223(f) loan for Resort at Jefferson Ridge. The garden-style apartment communities are located along either side of Thomas Jefferson Park. Together, they consist of 830 units across 34 acres with canal views. The communities’ amenities include fitness centers, clubhouses, and pools.
Both properties are in the process of achieving an NGBS green certification, which was a post-closing requirement. The loans were part of a portfolio refinanced for Dwight’s repeat client, Paramount Investment Corporation, which also included a $61.9MM HUD 223(f) loan for Resort at 925 Main closed in December 2022.
Dwight also provided approximately $39MM in HUD financing for Harlem Center for Nursing and Rehabilitation, a 200-bed skilled nursing facility in New York, NY. The loan was used to refinance existing debt and reimburse recent capital expenditures for renovations. Managing Director of Healthcare Finance, Adam Offman, originated this transaction.