Dwight Capital’s Active Fourth Quarter
Dwight Capital reported a very active fourth quarter, with more than $116 million of HUD and bridge loans closed for senior living and skilled nursing clients. One of the largest transactions saw Adam Sasouness and Adam Offman finance a $16.5 million bridge loan for a 375-bed skilled nursing facility in Oklahoma City, Oklahoma that features both short- and long-term rehabilitation, a secure memory care unit and a recently renovated dialysis unit. Mr. Offman also originated a pair of bridge loans in Rhode Island, including $16.4 million for a 167-bed assisted living/memory care/skilled nursing facility in Greenville and an $8.16 million loan for a 100-bed SNF in Pascoag. Another highlight... Read More »
Dwight Capital Refinances Large New Jersey SNF
A skilled nursing facility in Cherry Hill, New Jersey (Philadelphia MSA) with a wide variety of service offerings, just refinanced through HUD with the help of Dwight Capital. Built in phases from 1986 to 2002, it now totals 246 beds with five distinct units, including a 40-unit behavioral management unit, a 20-bed ventilator care unit, a substance abuse facility and a dialysis unit, in addition to providing short- and long-term rehabilitation and nursing care. Its clinical specialties also comprise physical, occupational, speech and IV therapies, wound care, pain management, tracheostomy care, dementia care, cardiac care, a pulmonary specialty and hospice care. In addition, there are... Read More »
Dwight Capital Closes Cash-Out Loan
Dwight Capital arranged a cash-out refinance for the owners of a 106-bed skilled nursing facility in Pikeville, Kentucky, paying off an acquisition loan that Dwight financed in 2018. Built in 1970 less than a mile from the 250-bed Pikeville Medical Center, the facility was previously owned by a publicly traded REIT and operated by Signature HealthCARE. It was well-maintained and over 90% occupied, but escalating liability insurance costs caused cash flow problems. A partnership between an investor and an operator emerged as the buyer, and both entered the Kentucky market with the acquisition. The facility also was subject to a ground lease owned by a group of local investors. Blueprint... Read More »Dwight Capital Arranges Loan for Long Island Facility
Dwight Capital followed up on a productive Spring to close a bridge loan for a Long Island assisted living community. Sitting on over eight acres in Port Jefferson Station, this community features 181 beds of Medicaid-funded assisted living on the same campus as a 143-bed skilled nursing facility. Kevin Lifshitz from Dwight Capital closed a $12.8 million bridge loan for the community. Read More »Schedule a demo
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