Dwight Capital & Mortgage Trust Secure $346.5M Financing in Feb 2025
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (DMT), successfully closed $346.5 million in real estate financings in February 2025. These transactions included a range of bridge loans and working capital financing for properties across the United States, reinforcing Dwight’s position as a leader in commercial real estate finance. Among the most notable deals were a value-add bridge acquisition loan for Waverly on the Lake in Michigan, a bridge loan and working capital line of credit for a six-property skilled nursing portfolio in Pennsylvania, and a bridge refinance loan for Mi Place at Brightmoor in New Jersey.
Financing Highlights
$88.5 Million Bridge Loan for Waverly on the Lake, Michigan
DMT provided an $88.5 million bridge acquisition loan for The Waverly on the Lake, a premier lakefront garden-style apartment community in Belleville, MI. The expansive 99-acre community, located along Belleville Lake, features 1,046 units and offers upscale amenities such as a clubhouse, fitness center, firepits, a pool with a sundeck, scenic lakeside picnic areas, more than two miles of walking trails, dedicated dog parks, and exclusive access to a boat launch with 42 private boat slips.
The loan proceeds will support the acquisition of the property, fund capital improvements for unrenovated units, and cover closing costs for Pepper Pike Capital Partners, a repeat client of Dwight Capital. The transaction was originated by Dwight Managing Director David Scheer.
“The team at Dwight has been nothing short of exceptional. They work tirelessly to ensure we hit our closing deadlines,” said Jacob Repasky, Director of Acquisitions at Pepper Pike Capital Partners. “During term sheet and loan document negotiations, they are reasonable, fair, and keep their word. We are very happy we elected to work with Dwight on our first deal last year and look forward to many more.”
$54.6 Million Bridge Loan for Skilled Nursing Portfolio, Pennsylvania
Dwight also closed a $54.6 million bridge loan to facilitate the acquisition of a six-property skilled nursing portfolio in Pennsylvania. The portfolio includes:
- Hampton House in Wilkes Barre
- Kingston Rehabilitation in Kingston
- Pottsville Rehabilitation in Pottsville
- Williamsport North and South Rehabilitation in Williamsport
- Yeadon Rehabilitation in Yeadon
Together, these facilities comprise 925 beds. The financing package also includes a $7 million working capital line of credit, with an accordion feature allowing for an expansion up to $15 million, ensuring smooth operational funding for all properties.
The transaction was originated by Adam Offman, Dwight’s Managing Director of Healthcare Finance, for Eden Senior Care, another repeat Dwight client. This financing underscores Dwight’s expertise in healthcare real estate and its ability to structure tailored financing solutions for senior care facilities.
$34 Million Bridge Loan for Mi Place at Brightmoor, New Jersey
DMT provided a $34 million bridge loan to refinance Mi Place at Brightmoor, a 168-unit apartment community located in Sicklerville, NJ. This project represents the second phase of a 312-unit residential development.
The property features 63 one-bedroom, 84 two-bedroom, and 21 three-bedroom units, catering to a range of renters. The loan proceeds will be used to retire existing debt, fund an interest reserve, cover transaction costs—including outstanding construction expenses—and provide a substantial cash-out to Fernmoor Homes, a longstanding client of Dwight Capital now receiving its fourth financed loan.
Additionally, the property benefits from a 30-year PILOT tax abatement program, which has been in place since 2021, further enhancing the investment’s financial stability.
About Dwight Capital
Dwight Capital LLC is a premier commercial real estate finance company in the United States, managing a loan servicing portfolio exceeding $12 billion. The firm specializes in a broad range of lending solutions, including:
- Balance-Sheet Bridge & New Construction Loans
- FHA/HUD Insured Loans
- C-PACE Financing
- Mezzanine Financing
- Preferred Equity
Through its extensive lending platform, Dwight Capital continues to support real estate investors, developers, and operators by providing customized financial solutions that meet the unique needs of various asset classes, including multifamily, healthcare, hospitality, and commercial properties.
The company’s commitment to excellence, industry expertise, and strong client relationships make it a trusted partner for real estate financing across the nation. As demand for strategic financing solutions continues to grow, Dwight Capital remains at the forefront of the industry, delivering flexible and efficient capital to drive real estate development and investment.
