Dwight Capital and Dwight Mortgage Trust Finance $246MM in August 2023

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), closed over $246MM in real estate financings during August. Featured among the transactions are a $62MM construction loan for The Village at Compass Pointe, a $44MM bridge refinance for Timberview Apartments, and a $29.5MM bridge loan for a five-property healthcare portfolio in the Midwest.

Dwight Mortgage Trust provided a $62MM construction loan for The Village at Compass Pointe, a 268-unit proposed SFR townhome and apartment rental community in Leland, NC. The property will consist of 128 rental units across two four-story apartment buildings and 140 single-family townhomes on approximately 25 acres. Delivery of the first units is anticipated for January 2025.

The Village at Compass Pointe’s community amenities will include two clubhouses featuring cabana pools and pickleball courts. David Glazer, Managing Director of Multifamily at DMT, originated this loan for the sponsors, SR Real Estate Partners and Circle Squared Alternative Investments. Cushman & Wakefield brokered the transaction.

DMT also financed a $44MM bridge loan for Timberview Apartments and Townhomes, a 180-unit newly constructed apartment complex in Oregon City, OR. The property is comprised of 11 residential buildings and one clubhouse with a lounge and fireplace on approximately 9.6 acres. Its amenities feature a fitness center, bike lounge, dog wash, and pool with a sundeck. Proceeds from the bridge loan will be used to retire the existing construction debt. McBride Capital brokered this transaction for a repeat Dwight client, Pahlisch Commercial.

Dwight closed a $29.5MM bridge loan for a portfolio of five skilled nursing and assisted living facilities in Minnesota, Ohio, and Wisconsin: Eden Vista of Stow, Evansville Manor, Edenbrook Fond du Lac, Edenbrook of Rochester, and Edenbrook of Edina. Together, the facilities consist of 441 beds across 25 acres. The purpose of the loan was to refinance three of the facilities and acquire the other two. Dwight has financed over 20 properties for this repeat client. Managing Director of Healthcare Finance Adam Offman originated this transaction.