Dwight Capital & Dwight Mortgage Trust Close $390MM in Seniors Housing During Q2 2024
July 08 2024 - 9:07AM
Business Wire
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust
(DMT), financed $390.4 million in seniors housing during Q2 2024.
Notable transactions included a $142 million bridge loan for a
skilled nursing portfolio in the Southeast, a $45.2 million bridge
loan for a skilled nursing portfolio in Massachusetts and Georgia,
and a $33.2 million bridge loan for a skilled nursing portfolio in
Missouri.
DMT provided a $142 million bridge acquisition loan for a
portfolio of ten skilled nursing facilities (SNFs) in prime urban
areas surrounding Atlanta, GA; Memphis, TN; Mobile, AL; and
Shreveport, LA. The properties include Bell Minor Home, Cambridge
Post Acute Care Center, Nurse Care of Buckhead, Riverside Health
Care Center, Rockdale Healthcare Center, Westminster Commons,
Millington Healthcare Center, Parkway Health and Rehabilitation
Center, Kensington Health and Rehabilitation, and Highland Place
Rehabilitation and Nursing. Collectively, these facilities total
1,371 beds. Adam Offman, Managing Director of Healthcare Finance,
and Sheldon Frankel originated this loan for recurring Dwight
clients.
DMT also financed a $45.2 million bridge acquisition and
refinance loan for a portfolio of six skilled nursing facilities in
Massachusetts and Georgia, totaling 785 beds. Yossi Benish, VP of
Business Development, originated this transaction.
Offman also originated a $33.2 million bridge refinance for a
436-bed portfolio of three SNFs in Florissant and Jackson, MO. The
loan proceeds will be used to refinance existing debt and reimburse
capital expenditures on the facilities.
Some other notable Q2 2024 seniors housing transactions
include:
- $29.8 million HUD 232/223(f) loan for a 120-bed skilled nursing
facility in the Southwest.
- $17.5 million HUD 232/223(f) refinance for The Mansion on Main,
a 141-bed assisted living facility (ALF) in New Albany, IN.
- $14.2 million bridge refinance for a 203-bed portfolio of two
SNFs in Ohio.
- $14 million HUD 232/223(f) loan for Arroyo Gardens, a 91-bed
ALF in Green Valley, AZ.
- $13.1 million bridge refinance for a 243-bed portfolio of two
SNFs in the Southeast.
- $9.3 million HUD 232/223(f) loan for Evansville Manor, a 96-bed
SNF in Evansville, WI.
About Dwight Capital
Dwight Capital LLC is a leading commercial real estate finance
company in the United States, with a loan servicing portfolio
exceeding $12 billion. Our services encompass a wide range of
commercial lending options, including Balance-Sheet Bridge &
New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing,
Mezzanine Financing, and Preferred Equity.
For more information about Dwight Capital, please visit:
www.dwightcapital.com
About Dwight Mortgage
Trust
Dwight Mortgage Trust LLC (“DMT” or the “Fund”) is an actively
managed real estate investment trust specializing in the
origination and financing of commercial mortgages across a range of
real estate asset classes. DMT works in conjunction with affiliate
firm Dwight Capital to source and evaluate lending opportunities
nationwide. The Fund partners with experienced sponsors on projects
in major markets, focusing on investments with a clearly defined
exit strategy.
For more information about Dwight Mortgage Trust, please visit:
www.dwightmortgagetrust.com
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