NEW YORK–(BUSINESS WIRE) –Dwight capital funded $ 234.15 million in senior and healthcare funding in the second quarter of 2021. These transactions include a HUD loan for The Village in Gainesville and two bridging loans for Assisted Living Facility (“ALF”) portfolios in North Carolina and Wisconsin.
Dwight has a $ 94.3 million HUD loan The village in Gainesville, a 651 bed senior living community in Gainesville, FL. The gated property is on 104 acre campus with amenities like a library, hairdresser, tennis court, fitness center and swimming pools. The community provides services including assisted living, memory maintenance, and food and care. It also operates a vitality program that offers its residents tailored wellness plans to optimize their wellbeing. This refinance closed as the largest 232 (a) (7) healthcare loan in HUD’s history. Executive Director, Josh Sasouness, triggered this transaction.
Senior Vice President Healthcare Finance, Clint Miller, a $ 40.4 million bridging loan to the ALG Senior Living Portfolio, an ALF portfolio of 366 beds across North Carolina. The transaction will facilitate the refinancing of Cleveland House, Hamlet House, Franklin House, Carteret House and Danby House. All facilities offer world-class community services and amenities, including common rooms, outdoor patios, conservatories, and rehabilitation areas.
Dwight also funded a $ 29.75 million bridging loan for the Edenbrook ALF Portfolio, a 277-bed portfolio of three ALFs in the state of Wisconsin: Lakeshore Manor, Mission Creek and Bella Vista. Together, the properties cover an area of approximately 266,760 square feet and amenities include outdoor patios, rehabilitation gyms, salons / hair salons, and conservatories. Managing Director, Adam Offman, made this loan, the third transaction Dwight has completed for this regular customer.
Dwight also provided funding for these senior housing communities in the second quarter of 2021:
$ 56 million bridging funding for a 1,550 bed portfolio of eight qualified nursing homes (“SNFs”) across Illinois.
$ 8 million HUD 232/223 (a) (7) refinancing for Stoddard Baptist Nursing Home, a 164-bed SNSF in Washington, DC
$ 3.6 million bridging loan to The Merriman, a 113-bed SNSF in Akron, Ohio.
2 MM HUD 232/223 (f) loan for Calm of Cartersville, a 25-bed ALF in Cartersville, GA.
About Dwight Capital
Dwight Capital LLC is one of the largest commercial real estate finance companies in the United States. Our range of services includes commercial loans via a variety of platforms such as FHA / HUD, bridge and mezzanine financing as well as preferred equity for stabilized and newly built properties. Dwight Capital is also one of the largest FHA / HUD multi-family and healthcare real estate lenders in the United States, offering over $ 7.5 billion in commercial real estate loans.
For more information on Dwight Capital, visit: www.dwightcapital.com