Dwight Capital Closes Q3 with $192M in Senior and Healthcare Financing
The firm and its affiliate REIT Dwight Mortgage Trust completed the financing across numerous bridge loans and transactions.
NEW YORK, NY – Dwight Capital and its affiliate REIT Dwight Mortgage Trust have closed Q3 2022 with $192.3 million in seniors and healthcare financing.
Two notable Q3 transactions for the firms included providing $42 million bridge loan for the acquisition of a three-property, 387-bed skilled nursing facility portfolio, totaling 195,860 square feet in New Hampshire, and the financing of a $27 million bridge acquisition loan for a 293-bed portfolio of four assisted living and memory care facilities in Jamestown and Frewsburg, NY for borrower Culture Care Senior Living.
Dwight managing director Josh Sturm originated the $42 million transaction, which comprised Epsom Healthcare Center, Maple Leaf Healthcare Center and Villa Crest Nursing and Retirement Center in New Hampshire. Dwight’s Josh Levin originated the $27 million loan transaction, which consisted of Tanglewood Manor, Memory Gardens, The Magnolia and Comfort Today in New York.
“At Culture Care, we believe in using our culture as our foundation to fulfill our vision of enriching the lives of our seniors, their families and the communities that we serve through compassion, innovation and customer service,” says Culture Care Senior Living CEO Gary Rohinsky. “We are grateful to take over an operation with a fantastic team that shares the same vision, and we are appreciative to the team at Dwight Capital for helping us make it happen. We look forward to working with Dwight on future transactions.”
Additional Q3 senior living community financings for Dwight included the $50 million bridge acquisition loan for a 404-bed skilled nursing facility portfolio in Texas; a $14 million bridge refinance for RegalCare at Harwich and Foremost at Sharon, a 201-bed skilled nursing facility portfolio in Harwich and Sharon, MA; a $12.4 million bridge acquisition loan for a 314-bed skilled nursing facility portfolio in Danielson and Willimantic, CT; an $11 million bridge refinance for St. Camillus Center, a 124-bed skilled nursing facility in Stamford, CT; a $10.6 million bridge acquisition loan for The Edwinola, a 200-bed assisted living, independent living and memory care facility in Dade City, FL; $9.2 million bridge acquisition loan for Forest Park Healthcare and Rehabilitation Center, a 114-bed skilled nursing facility in Carlisle, PA; a $7.6 million HUD 232/223(f) loan for Edenbrook of Oshkosh, a 110-bed skilled nursing facility in Oshkosh, WI; and a $5.28 million HUD 232/223(f) loan for Edenbrook of Wisconsin Rapids, an 80-bed skilled nursing facility in Wisconsin Rapids, WI.