Dwight Capital & Dwight Mortgage Trust Close $390MM in Seniors Housing During Q2 2024

MIAMI--(BUSINESS WIRE)--Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (DMT), financed $390.4 million in seniors housing during Q2 2024. Notable transactions included a $142 million bridge loan for a skilled nursing portfolio in the Southeast, a $45.2 million bridge loan for a skilled nursing portfolio in Massachusetts and Georgia, and a $33.2 million bridge loan for a skilled nursing portfolio in Missouri.

DMT provided a $142 million bridge acquisition loan for a portfolio of ten skilled nursing facilities (SNFs) in prime urban areas surrounding Atlanta, GA; Memphis, TN; Mobile, AL; and Shreveport, LA. The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing. Collectively, these facilities total 1,371 beds. Adam Offman, Managing Director of Healthcare Finance, and Sheldon Frankel originated this loan for recurring Dwight clients.

DMT also financed a $45.2 million bridge acquisition and refinance loan for a portfolio of six skilled nursing facilities in Massachusetts and Georgia, totaling 785 beds. Yossi Benish, VP of Business Development, originated this transaction.

Offman also originated a $33.2 million bridge refinance for a 436-bed portfolio of three SNFs in Florissant and Jackson, MO. The loan proceeds will be used to refinance existing debt and reimburse capital expenditures on the facilities.

Some other notable Q2 2024 seniors housing transactions include:

• $29.8 million HUD 232/223(f) loan for a 120-bed skilled nursing facility in the Southwest.
• $17.5 million HUD 232/223(f) refinance for The Mansion on Main, a 141-bed assisted living facility (ALF) in New Albany, IN.
• $14.2 million bridge refinance for a 203-bed portfolio of two SNFs in Ohio.
• $14 million HUD 232/223(f) loan for Arroyo Gardens, a 91-bed ALF in Green Valley, AZ.
• $13.1 million bridge refinance for a 243-bed portfolio of two SNFs in the Southeast.
• $9.3 million HUD 232/223(f) loan for Evansville Manor, a 96-bed SNF in Evansville, WI.

About Dwight Capital

Dwight Capital LLC is a leading commercial real estate finance company in the United States, with a loan servicing portfolio exceeding $12 billion. Our services encompass a wide range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing, Mezzanine Financing, and Preferred Equity.

For more information about Dwight Capital, please visit: www.dwightcapital.com

About Dwight Mortgage Trust

Dwight Mortgage Trust LLC (“DMT” or the “Fund”) is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy.

For more information about Dwight Mortgage Trust, please visit: www.dwightmortgagetrust.com