NEW YORK CITY — Dwight Capital, a New York-based lender, has provided $13.8 million in seniors housing finance in four separate transactions.
In the first loan, Dwight provided a $4 million bridge loan for Indian Creek Healthcare Center, a 120-bed skilled nursing facility in Overland Park, Kansas.
For the second transaction, Dwight provided a $2.3 million bridge loan for Underwood Manor, a 32-bed assisted living facility in Hinsdale, New York. Following the future HUD refinancing of Underwood Manor, Dwight will provide a supplemental loan for the construction of a new 68-bed wing.
In the third transaction, Dwight provided a $3.7 million bridge loan to fund the acquisition of a skilled nursing portfolio in Wisconsin. The 193-bed, three-facility portfolio was sold by a nonprofit entity.
In the final deal, Dwight provided a $3.8 million bridge loan for the acquisition of Oceana Rehab and Nursing Center, a 116-bed skilled nursing facility in Cape May Court House, New Jersey. The buyer currently owns and operates several facilities in the state.
The names of the borrowers were not disclosed.