Dwight Capital and Dwight Mortgage Trust Finance $307.6MM in January 2025

MIAMI--(BUSINESS WIRE)--Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), closed $307.6MM in real estate financings in January. Notable transactions included a construction loan for Sutphin Phase II in New York, a bridge loan for a portfolio of four skilled nursing facilities on the East Coast, and another bridge loan for Silk Lofts in New Jersey.

DMT provided a $148MM construction loan for Sutphin II, a planned 524-unit luxury high-rise apartment building in Jamaica, NY. The 24-story development will feature 366 market-rate units and 158 affordable units, ranging from studio to three-bedroom apartments, along with 7,750 square feet of ground-floor retail. The community will offer premium amenities, including a rooftop space, gym, business center, game room, theater, resident lounge, children's playroom, and pet spa.

Upon completion, the project will qualify for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax Credits. Steven Hersko of SHB Group arranged the loan on behalf of the developer, a partnership led by Moshe Braver.

DMT provided a $31MM bridge acquisition loan for a portfolio of four skilled nursing facilities across Florida, Georgia, and Massachusetts. The facilities include Arabella Health and Wellness of Carrabelle, Jacksonville Center for Rehab and Healthcare, Pine View Nursing and Rehab Center, and Regal Care of Quincy. Together, these facilities comprise 386 beds. Dwight’s Yossi Benish originated the loan.

In addition, DMT provided a $21 million bridge loan to refinance Silk Lofts, an 85-unit apartment community in Bayonne, NJ. Originally a Maidenform factory, the property was converted into a modern residential complex featuring nine studios, 49 one-bedrooms, and 27 two-bedrooms. Each unit features upscale interior finishes, including granite countertops, stainless steel appliances, and expansive windows.

Loan proceeds will retire existing debt, fund an interest reserve, and cover transaction costs for the borrower, AMS Acquisitions. Additionally, Silk Lofts benefits from a 30-year PILOT tax abatement in effect since 2013.

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