NEW YORK CITY — Dwight Capital, a New York-based firm, provided $234.2 million in seniors housing and healthcare financings during second-quarter 2021.
Dwight closed a $94.3 million HUD loan for The Village at Gainesville, a 651-bed senior living community located in Gainesville, Florida. The gated property is situated on a 104-acre campus and offers assisted living, memory care and skilled nursing services. The refinancing closed as the largest healthcare 232(a)(7) loan in HUD’s history to date, according to Josh Sasouness, who originated this transaction.
In a separate transaction, Clint Miller originated a $40.4 million bridge loan for an ALG Senior Living portfolio totaling 366 beds in North Carolina. The transaction facilitates the refinancing of Cleveland House, Hamlet House, Franklin House, Carteret House and Danby House.
Dwight also financed a $29.8 million bridge acquisition loan for an Edenbrook portfolio of three assisted living communities totaling 277 beds in upstate Wisconsin: Lakeshore Manor, Mission Creek and Bella Vista. Together, the properties comprise approximately 266,760 square feet. Adam Offman originated this loan, the third transaction that Dwight has closed for this repeat client.
Dwight also provided financing for these senior living communities during the quarter:
- A $56 million bridge refinancing for a 1,550-bed portfolio of eight skilled nursing facilities located across Illinois.
- An $8 million HUD 232/223(a)(7) refinancing for Stoddard Baptist Nursing Home, a 164-bed skilled nursing facility in Washington, D.C.
- A $3.6 million bridge acquisition loan for The Merriman, a 113-bed skilled nursing facility located in Akron, Ohio.
- A $2 million HUD 232/223(f) loan for Tranquility of Cartersville, a 25-bed assisted living community located in Cartersville, Georgia.