Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, provided a $27.25MM bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility (“SNF”) located in New Smyrna Beach, Florida. The facility offers its residents short- and long-term care tailored to their needs. The loan has a 30-month term; its proceeds will be used towards capital expenditures and the acquisition. Dwight Managing Director Josh Sturm originated this closing.
The borrower for this transaction stated, "As a SNF owner/operator, one of the most difficult challenges we face while navigating through the rapid changes in the healthcare market, is finding the appropriate lending partner. Dwight has been that perfect lender for us as they know the healthcare market in real time and understand an operator’s vision while executing a successful transaction. It has been a truly positive experience to work with Dwight’s healthcare team, and we’re looking forward to closing many more transactions together."