NEW YORK CITY — Dwight Capital and its mortgage REIT affiliate, Dwight Mortgage Trust, both based in New York City, provided $297.6 million in financing during second-quarter 2022.
Dwight provided a $48 million bridge acquisition loan for a 729-bed portfolio in Minnesota. The portfolio consists of 343,525 square feet situated on 15 acres. Adam Sasouness and Adam Offman originated this transaction.
Sasouness and Offman also closed a $31 million bridge acquisition loan for Daughters of Miriam Center, a 210-bed skilled nursing facility in Clifton, New Jersey. Situated on 13 acres, the property features several divisions: a skilled nursing facility, subacute care wing, dementia/Alzheimer’s care pavilion, rehabilitation program, hospice care, respite care, and senior apartments with supportive programs. The loan proceeds will be used towards capital improvements and the acquisition of the facility by Atlas Healthcare, which will rebrand the facility as Atlas Rehabilitation & Healthcare at Daughters of Miriam.
Dwight also financed a $30.4 million bridge acquisition loan for Riverfront Rehabilitation and Healthcare Center, a 180-bed skilled nursing facility in Pennsauken, New Jersey. The three-story facility was recently renovated.
Other seniors housing and healthcare financings included:
- a $41 million bridge acquisition loan for a 200-bed skilled nursing facility in New York.
- a $27.3 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility in New Smyrna Beach, Florida.
- an $18.6 million bridge acquisition loan for a 308-bed assisted living and skilled nursing portfolio located in Ohio and Wisconsin.
- a $17.5 million bridge acquisition loan for Meridian Meadows, a 115-bed community in Meridian, Idaho.
- a $17.3 million bridge acquisition loan for a 234-bed skilled nursing portfolio located in Duluth and St. Paul, Minnesota.
- a $16.8 million bridge acquisition loan for a 240-bed skilled nursing portfolio in Morrison and Fort Collins, Colorado.
- a $12.5 million bridge acquisition loan for Emerald Rehab and Healthcare Center, a 99-bed skilled nursing facility in Elizabethtown, Pennsylvania.
- a $7.6 million bridge loan for Dayton Care Center, a 90-bed assisted living community in Kenosha, Wisconsin.