Dwight Capital & Dwight Mortgage Trust Close Q2 2022 with $297.6MM in Seniors & Healthcare Financings
Dwight Capital and its mortgage REIT affiliate, Dwight Mortgage Trust, financed $297.6MM in seniors and healthcare financings during Q2 2022. Featured among the transactions are bridge loans for Daughters of Miriam Center, Riverfront Rehabilitation and Healthcare Center, and an 8-property Skilled Nursing Facility ("SNF") portfolio located in Minnesota.
Dwight provided a $48MM bridge acquisition loan for a 729-bed portfolio of eight SNFs located across Minnesota. The portfolio consists of 343,525 SF situated over 15 acres. The facilities' amenities feature courtyards, lounges, and therapy rooms. A portion of the loan proceeds will be used towards capital improvements. Managing Principal, Adam Sasouness, and Managing Director, Adam Offman, originated this transaction.
Sasouness and Offman closed a $31MM bridge acquisition loan for Daughters of Miriam Center, a 210-bed SNF located in Clifton, New Jersey. Situated on 13 acres, the state-of-the-art property features several divisions: a skilled nursing facility, subacute care wing, dementia/Alzheimer's care pavilion, rehabilitation program, hospice care, respite care program, and senior apartments with supportive programs. The loan proceeds will be used towards capital improvements and the acquisition of the facility by Atlas Healthcare, who will rebrand the facility as "Atlas Rehabilitation & Healthcare at Daughters of Miriam."
Dwight also financed a $30.4MM bridge acquisition loan for Riverfront Rehabilitation and Healthcare Center, a 180-bed SNF located in Pennsauken, New Jersey. The three-story facility has been recently renovated and features common areas with waterfront views.
Dwight also provided financing for these featured senior living communities in Q2 2022:
- $41MM bridge acquisition loan for a 190-bed SNF located in New York.
- $27.25MM bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed SNF located in New Smyrna Beach, Florida.
- $18.6MM bridge acquisition loan for a 308-bed assisted living facility ("ALF")/SNF portfolio located in Ohio and Wisconsin.
- $17.5MM bridge acquisition loan for Meridian Meadows, a 115-bed ALF/SNF located in Meridian, Idaho.
- $17.3MM bridge acquisition loan for a 234-bed SNF portfolio located in Duluth & St. Paul, Minnesota.
- $16.75MM bridge acquisition loan for a 240-bed SNF portfolio located in Morrison & Fort Collins, Colorado.
- $12.53MM bridge acquisition loan for Emerald Rehab and Healthcare Center, a 99-bed SNF located in Elizabethtown, Pennsylvania.
- $7.64MM bridge loan for Dayton Care Center, a 90-bed ALF located in Kenosha, Wisconsin.
About Dwight Capital
Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States. Our range of services includes commercial lending across a variety of platforms such as FHA/HUD, Bridge, and Mezzanine Financing as well as Preferred Equity for both stabilized and new-construction properties. Dwight Capital is also one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States and services $11 billion of commercial real estate loans.
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
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