Dwight Capital Closes Q4 2020 with $117.57 MM in Healthcare Financings

Dwight Capital provided over $117.57 MM in healthcare financing during Q4 2020. Featured among these transactions are loans for several properties within the Recover Care, The Laurels, and Landmark Portfolios.

Dwight closed $15 MM in bridge and mezzanine financing for the acquisition of the Recover Care KS Portfolio, a 253-bed, 3-asset assisted living (“ALF”) and skilled nursing facility (“SNF”) Portfolio located across Kansas. Managing Principal, Adam Sasouness, originated this transaction.

Sasouness also originated $13.95 MM in bridge financing for the Laurels Portfolio, a 313-bed, three-asset ALF/SNF portfolio located across Northeast Ohio. The transaction, closed for repeat Dwight clients, facilitates the acquisition of The Laurels of Shane Hill, The Laurels of Toledo, and The Laurels of Canton.

Dwight also closed $11.46 MM in HUD 232 loans for the Landmark Portfolio, consisting of two SNFs, The Pavilion Rehabilitation and Nursing Center and Saint Francis Rehabilitation & Nursing Center, with a total of 219 beds located in Massachusetts. These loans were uniquely structured with a 4-year prepayment penalty. Managing Director, Adam Offman, originated these transactions.

Dwight also provided healthcare financing for these senior housing communities last quarter:

• $13.1 MM in HUD 232 loans for two SNFs, Meeker Manor Rehabilitation Center and North Shore Estates, part of a portfolio comprised of 145 beds located in Minnesota.

• $11.5 MM bridge loan for Heart of Georgia, a 100-bed SNF located in Eastman, GA.

• $7.5 MM bridge acquisition loan for Pawtucket Falls Healthcare Center, a 154-bed SNF located in Pawtucket, RI.

• $6.4 MM bridge loan for Green Prairie Rehabilitation and Assisted Living Center, an 86-bed ALF/SNF located in Plainview, MN.

• $6.1 MM HUD 232/223(f) loan for Sunset Healthcare Center, a 120-bed SNF located in Union, MO.

• $6 MM bridge loan for Hilltop Lodge, a 140-bed ALF and SNF located in Beloit, KS.

• $4.8 MM HUD 232/223(a)(7) loan for Graceland at Garden Ridge, a 50-bed AL and Memory Care Facility located in Garden Ridge, TX.

• $4.5 MM bridge loan for Edenbrook of Green Bay, a 136-bed SNF located in Green Bay, WI.

• $4 MM bridge loan for Advent Health Care Center San Marcos, a 116-bed SNF located San Marcos, TX.

• $3.95 MM bridge loan for Continental Manor Nursing and Rehabilitation Center and Mason Health Care Center, totaling 112 beds located in Ohio.

• $2.1 MM bridge loan for St. Joseph Nursing Home, a 93-bed SNF located in Lacon, IL.