Dwight Capital Closes Q4 2019 with $116.2 MM in Healthcare Financing

Dwight Capital is pleased to report a successful quarter with healthcare closings totaling $116.2 MM. Featured among these transactions are bridge loans on South Pointe Rehabilitation and Care Center, Cortland Place, and Overlook Nursing and Rehabilitation Center.

Dwight financed a $16.5 MM bridge loan for South Pointe Rehabilitation and Care Center, a 375-bed skilled nursing facility (SNF) located in Oklahoma City, OK. South Pointe consists of over 92,000 square feet and offers many services including short and long-term rehabilitation, a secure memory unit, and recently renovated dialysis unit. South Pointe’s Sponsors are repeat Dwight-borrowers. This loan was originated by Managing Principal, Adam Sasouness, and Managing Director, Adam Offman.

Offman also originated a pair of loans in Rhode Island, including a $16.4 MM bridge loan on Cortland Place, a 167-bed assisted living facility (ALF), memory care (MC) and SNF located in Greenville, RI and an $8.16 MM bridge loan for Overlook Nursing and Rehabilitation Center, a 100-bed SNF in Pascoag, RI.

Dwight also arranged the financing for the construction of three substance abuse treatment facilities in Ohio, Indiana and Virginia, and provided healthcare financing for these senior housing communities last quarter:

• $50.8 MM HUD 232/223(f) loan on Silver Healthcare Center, a 246-bed SNF located in Cherry Hill, NJ

• $5.3 MM bridge loan on Sheridan Manor Nursing Home, a 100-bed SNF located in Tonawanda, New York

• $4.75 MM bridge loan on Ivy at Clemmons, an 86-bed ALF located in Meadowbrook, NC

• $4 MM bridge loan on The Palace Health Care and Rehabilitation Center, a 119-bed SNF located in Red Boiling Springs, TN

• $3.24 MM bridge loan on Robynwood Home for Adults, a 49-bed ALF located in Oneonta, NY 

• $2.7 MM bridge loan on Trinity Nursing and Rehabilitation Center, a 120-bed SNF in Merriam, KS