Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $152.5 million in transactions during the first quarter of 2024. Among the transactions were a $44 million bridge loan for a 369-bed, seven-story skilled nursing facility in the Southwest U.S. The bridge loan, which closed in conjunction with a $5 million revolving line of credit, is expected to be refinanced through HUD in approximately 24 months. Adam Offman and Josh Sturm, Managing Directors of Healthcare, originated the transaction for a recurring client.
Dwight also closed $26 million in HUD financing for River Towne Center and Etowah Landing, two SNFs in Georgia. The transaction included a $17.4 million refinance for River Towne Center, a 210-bed SNF situated on five acres in Columbus, and an $8.6 million loan for Etowah Landing, a 100-bed SNF set on three acres in Rome. The HUD loans refinanced existing bridge loans provided by Dwight Mortgage Trust in December 2022. Adam Offman originated these transactions.
In addition to these highlighted deals, Dwight closed a $24.6 million bridge acquisition loan for a 369-bed SNF in New Jersey, and a $15 million bridge refinance for a portfolio of three SNFs in Massachusetts. This loan was closed along with a $5 million revolver. There was also a 14.4 million bridge acquisition loan for an assisted living and skilled nursing portfolio located across Illinois, a $14 million bridge loan for two SNFs with 165 beds in Georgia, and a $4.5 million revolver for a 361-bed ALF/SNF portfolio in Ohio.
