Dwight Capital Closes $291.5M in Healthcare Financing in Q4

NEW YORK CITY — Dwight Capital, a New York City-based finance and investment firm, arranged $291.5 million in seniors housing and healthcare financings during fourth-quarter 2021. Featured among these transactions are bridge loans for Certus Portfolio, Solaris Portfolio and Epic Portfolio, which were funded through the firm’s commercial mortgage REIT, Dwight Mortgage Trust.

Dwight provided a $89 million bridge acquisition loan for a 1,352-bed portfolio of 15 skilled nursing facilities located across Ohio. The borrower, Certus Healthcare Management, plans to invest in a capital expenditures plan to complete interior improvements on all the properties. Dwight’s Ari Mandelbaum originated this transaction.

Dwight’s Adam Offman originated a $48.3 million bridge acquisition loan for a portfolio of two skilled nursing facilities in Florida: Solaris Healthcare Lake Bennet and Solaris Healthcare Palatka. Together the facilities comprise 300 beds and over 100,000 square feet. A portion of the loan proceeds will be used toward further improving the facilities.

Offman also originated a $38.8 million bridge acquisition loan for another portfolio of two skilled nursing facilities located in Tennessee and North Carolina: Holston Manor and Five Oaks Manor. Together the facilities comprise 388 beds across 107,000 square feet. The borrower for this transaction was Chuny Herzka.

Dwight also provided financing for these featured senior living communities in Q4 2021:

  • A $23.5 million bridge refinance for Plainview Portfolio, consisting of two skilled nursing facilities with a total of 158 beds in Wauchula and Fort Pierce, Fla.
  • A $12 million HUD 232/223(f) loan for Heart of Georgia Nursing Home, a 100-bed facility in Eastman, Ga.
  • A $10.4 million bridge loan for a portfolio of two skilled nursing facilities with a total of 216 beds located in Sylvania, Ga., and Ridgeland, S.C.
  • A $10.2 million bridge acquisition loan for Canton Nursing Center, a 100-bed skilled nursing facility in Canton, Ga.
  • A $7.1 million HUD 232/223(f) loan for Green Prairie Rehabilitation & Assisted Living, an 88-bed community in Plainview, Minn.