Dwight Mortgage Trust Finances $56.3MM Bridge Loan for Madera Apartments in Santa Fe, NM

Dwight Mortgage Trust (“DMT”), the affiliate REIT of Dwight Capital, has provided $56.3MM in bridge financing for Madera Apartments, a townhome-style apartment complex located in Santa Fe, NM. Upon completion, the property will feature 218 one-, two-, and three-bedroom units, each equipped with patios or balconies, in-unit washer and dryers, smart home technology, and walk-in closets. These units will be distributed across 20 two-story buildings, complemented by a communal clubhouse and upscale amenities, including a resort-style pool, pickleball court, yoga studio, fitness center, dog wash station, playground, and garage parking with electric vehicle charging stations.

Madera Apartments is ideally situated just 15 minutes from Downtown Santa Fe, providing residents with easy access to the city’s top attractions. The property is located off NM 599 and Interstate 25, ensuring seamless travel throughout Santa Fe. Nearby hiking trails, including River Trail Trailhead, La Tierra Trailhead, and the Santa Fe River Trail, offer residents direct access to a variety of nature parks and outdoor recreation areas.

Proceeds from the loan will be used to retire the sponsor’s existing construction debt and provide Thrive Development, the borrower, with capital to complete construction and lease-up.

“Dwight delivered a financing solution for our project with impressive speed and efficiency. Their resourcefulness in navigating the complexities of the deal was impressive, and they demonstrated a keen understanding of our needs, ultimately providing an effective solution.” – Connor Johnson, Project Manager, Thrive Development.