Dwight Capital, Dwight Mortgage Trust Close $152.5M in Seniors Housing During Q1

by Jeff Shaw

MIAMI — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, which are both headquartered in Miami, financed $152.5 million in seniors housing during first-quarter 2024. 

Among the transactions were a $44 million bridge loan for a skilled nursing facility in the Southwest and $26 million in HUD financing for River Towne Center and Etowah Landing, a skilled nursing portfolio in Georgia.

This Southeast transaction involves a 369-bed facility which rises seven stories on three acres and totals 117,000 square feet. The bridge loan, which closed in conjunction with a $5 million revolving line of credit, is expected to be refinanced with a HUD 232/223(f) loan in approximately 24 months. Adam Offman and Josh Sturm originated this transaction for a recurring client.

River Towne Center is a 210-bed skilled nursing facility situated on five acres in Columbus, Georgia, while Etowah Landing is a 100-bed facility set on three acres in Rome, Georgia. These HUD loans refinanced existing bridge loans provided by Dwight Mortgage Trust in December 2022. Adam Offman originated these transactions.

Some other notable transactions include:

  • $24.6 million bridge acquisition loan for a 369-bed skilled nursing facility in New Jersey.
  • $15 million bridge refinance for a portfolio of three favilities in Massachusetts. This loan was closed along with a $5 million revolver. 
  • $14.4 million bridge acquisition loan for an assisted living and skilled nursing portfolio located across Illinois.
  • $14 million bridge loan for a 165-bed portfolio of two facilities in Georgia.
  • $4.5 million revolver for a 361-bed assisted living and skilled nursing portfolio in Ohio.

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