Dwight Capital has closed a slew of bridge financings in the last couple of months totaling more than $17 million. These transactions included a $3.96 million bridge loan for a 120-bed skilled nursing facility in Overland Park, Kansas, a $2.34 million loan for a 32-bed assisted living community in Hinsdale, New York and a $3.77 million acquisition loan for a 116-bed SNF in Cape May Court House, New Jersey that was bought by an owner/operator of several other facilities in the state.
Dwight Capital also funded the acquisition of a skilled nursing portfolio in Wisconsin (in a sale led by Amy Sitzman and Michael Segal of Blueprint Healthcare Real Estate Advisors) with a $3.7 million loan closed on behalf of a repeat borrower. The Evangelical Lutheran Good Samaritan Society was the seller in that transaction, paring some non-core assets from its newly merged portfolio with Sanford Health.
Next, Dwight Capital arranged a $3.6 million acquisition loan with a 30-month term for a 121-bed skilled nursing facility in Sheboygan, Wisconsin. Previously owned by a Midwest-based regional operator, the facility features many amenities and private rooms but could benefit from some new operational efficiencies brought in by the buyer. Finally, the firm closed a $3.3 million bridge loan for a skilled nursing investor to purchase an 82-bed SNF in Minneapolis, Minnesota from a REIT. The buyer, making its fifth purchase in the state, plans to also improve operational efficiencies at the property.