Dwight Capital and Dwight Mortgage Trust Finance $217.8MM in March 2023

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), financed $217.8MM in commercial real estate loans during March 2023. Featured among those loans were HUD 223(f) loans for Springs at Palma Sola and The Village at Lakefront.

Dwight provided a $57MM HUD 223(f) refinance for Springs at Palma Sola, a 293-unit apartment complex in Bradenton, FL. The property is comprised of 19 two-story apartment buildings, one community building, and one maintenance building on over 29 acres. Its amenities feature a clubhouse, fitness center, pool, dog park, garages, and car care center. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property is ENERGY STAR certified. Managing Director Kevin Lifshitz originated this transaction for Continental Properties Company, a repeat Dwight client.

Dwight also closed a $31.4MM HUD 223(f) loan for The Village at Lakefront, a 242-unit apartment community in Little Elm, Texas. The property was built in 2017 and consists of two four-story apartment buildings, a clubhouse with a community room, fitness center, and leasing office on 6.4 acres. The loan benefitted from a Green MIP Reduction as The Village at Lakefront is in the process of achieving an NGBS Bronze certification. Dwight’s Brandon Baksh originated this transaction for the borrower, ChadNic Properties.