NEW YORK--(BUSINESS WIRE)--Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), financed $217.8MM in commercial real estate loans during March 2023. Featured among those loans were HUD 223(f) loans for Springs at Palma Sola and The Village at Lakefront.
Dwight provided a $57MM HUD 223(f) refinance for Springs at Palma Sola, a 293-unit apartment complex in Bradenton, FL. The property is comprised of 19 two-story apartment buildings, one community building, and one maintenance building on over 29 acres. Its amenities feature a clubhouse, fitness center, pool, dog park, garages, and car care center. The loan benefitted from a Green Mortgage Insurance Premium (“MIP”) Reduction set at 25 basis points because the property is ENERGY STAR certified. Managing Director Kevin Lifshitz originated this transaction for Continental Properties Company, a repeat Dwight client.
Dwight also closed a $31.4MM HUD 223(f) loan for The Village at Lakefront, a 242-unit apartment community in Little Elm, TX. The property was built in 2017 and consists of two four-story apartment buildings, a clubhouse with a community room, fitness center, and leasing office on 6.4 acres. The loan benefitted from a Green MIP Reduction as The Village at Lakefront is in the process of achieving an NGBS Bronze certification. Dwight’s Brandon Baksh originated this transaction for the borrower, ChadNic Properties.
About Dwight Capital
Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States and has a loan servicing portfolio in excess of $11 billion. Our range of services includes commercial lending across a variety of loan types such as Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, as well as Mezzanine Financing.
For more information about Dwight Capital, please visit: www.dwightcapital.com
About Dwight Mortgage Trust
Dwight Mortgage Trust LLC (“DMT”) 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. DMT 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
