Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, closed a $55MM bridge refinance for The Stellar at Emerald Hills, a 197-unit apartment complex located in Fort Lauderdale, FL. Newly built in 2022, the gated property is on 7.2 acres, is in mint condition and consists of three, three-story apartment buildings with approximately 566,916 SF of residential area. The community is in proximity to several golf courses, numerous shopping and dining destinations, Dania Beach, and Interstate 95, giving tenants access to major employment demand drivers like American Airlines and Publix Supermarket.
The Stellar at Emerald Hills was designed to offer eco-smart home features with luxury finishes. Its residential amenities include in-unit washers and dryers, private balconies, and bay windows. Common area amenities feature a clubhouse, fitness center with a Yoga and Spin Studio, pet play area, pet washing station, and pool. The property has a National Green Building Standard (NGBS) Certification with a Silver Designation and includes green, smart features, such as EV car charging stations and energy efficient gas appliances. Managing Principal Josh Sasouness originated this transaction.