Dwight Mortgage Trust Provides $36MM Bridge Loan for La Joya by Azali in Corpus Christi, TX

Dwight Mortgage Trust (“DMT”), the affiliate REIT of Dwight Capital, closed a $36 million bridge loan to refinance La Joya by Azali, a 336-unit waterfront apartment community in Corpus Christi, TX. The property comprises 14 three-story residential buildings with a unit mix of 120 one-bedrooms, 192 two-bedrooms, and 24 three-bedrooms. Units feature upscale finishes, including granite countertops, stainless steel appliances, and private patios or balconies. Select homes also offer deep soaking tubs, spacious walk-in closets, and private yards.

Residents also enjoy a comprehensive suite of community amenities, including a fitness center, business center, clubhouse, dog park and dog run, playground, media/game room, BBQ/picnic area, demonstration kitchen, conference room, billiards lounge, and swimming pool. Set along the edge of Oso Bay with scenic waterfront views, La Joya by Azali is near notable landmarks, Texas A&M University – Corpus Christi and the Naval Air Station. The property is also located just north of South Padre Island Drive (SH-358), offering convenient access to downtown Corpus Christi and the Gulf Coast.

Loan proceeds will be used to retire existing debt, cover transaction costs, and fund reserves on behalf of the borrower, Alex Azali of Azali Homes.