In September, Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed $279.7 million in real estate financings. Notable transactions included three separate HUD loans; a skilled nursing facility in New York, and a skilled nursing portfolio in New Hampshire.
Dwight closed a $61 million HUD 232/223(f) refinance loan for a 250-bed skilled nursing facility in New York. The facility recently underwent comprehensive renovations, including updates to resident rooms, corridors, therapy areas, kitchens and public spaces. The transaction was handled by Adam Offman.
Offman also originated a $39 million HUD 232/223(f) refinance loan for a SNF and a senior living community in Manchester, New Hampshire. Maple Leaf Healthcare Center is a 114-bed SNF, and Villa Crest Nursing and Retirement Center has 165 skilled nursing beds and 29 assisted living units. Previously, DMT closed a $31.5 million bridge loan across the two.
Other notable seniors housing transactions from Q3:24 include a $32.5 million bridge refinance loan for a 464-bed portfolio of two SNFs and one senior living community (skilled nursing + assisted living) in Ohio, a $17.2 million bridge loan for Fauquier Health Rehabilitation & Nursing Center which comprises 113 skilled nursing beds in Warrenton, Virginia, and a $13 million bridge refinance for two assisted living communities comprising 90 beds in Oregon and Washington. Additionally, the company closed an $8.7 million HUD 232/223(f) loan for a 127-bed SNF in Westland, Michigan, Cherry Hill Nursing and Rehab. A final notable transaction that closed during Q3 was an $8.5 million bridge loan for The Springs of Barrow, a 100-bed SNF in Little Rock, Arkansas.
