MIAMI–(BUSINESS WIRE)–Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), collectively financed $272 million in real estate transactions during October. Notable closings include a construction loan for 33-35 W 125th St in New York, a HUD 223(f) refinance for Arcadia Apartments in Tamarac, FL, and a BTR construction loan for Old Charlotte Townhomes in Asheville, NC.
DMT closed a $70 million construction loan for 33–35 W 125th Street, a proposed 180-unit luxury apartment development in New York, NY. The project includes three commercial spaces on the lower floors totaling 17,440 square feet. The property is eligible for a 35-year 421-a tax abatement, with 30% of units designated as affordable housing. Loan proceeds will support ground-up construction, closing costs, and fund an interest reserve. The transaction was originated by Managing Director Keith Hoffman.
“125th Street has a pulse that is indescribable due to the people, culture, and various businesses,” said a representative of the borrower, Irgang Group. “We’re thrilled to develop this project to further improve the area that we have been involved with for over 30 years. We are very excited to work with Dwight on the financing of this project and are grateful to Meridian for arranging the transaction.”
Dwight Capital provided a $46 million HUD 223(f) refinance for Arcadia, a 212-unit modern apartment community in Tamarac, FL, completed in 2023. Proceeds will pay off existing debt, cover closing costs, and establish a replacement reserve account for future capital improvements. Dwight’s Josh Hoffman and Jeremy Packer originated the transaction on behalf of the borrower, CaraCo.
Additionally, DMT closed a $43 million construction loan for Old Charlotte Townhomes, a proposed 133-unit BTR community in Asheville, NC. The project is planned to be developed on 17 acres within a larger master-planned development that also features for-sale homes and a traditional multifamily component. Loan proceeds will support land development, construction costs, community amenities, and transaction expenses for the client, Golden Hour Collective.
About Dwight Capital
Dwight Capital LLC is a leading commercial real estate finance company in the United States, with a loan servicing portfolio exceeding $14 billion. Our services encompass a wide range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing, Mezzanine Financing, and Preferred Equity.
For more information about Dwight Capital, please visit: www.dwightcapital.com
About Dwight Mortgage Trust
Dwight Mortgage Trust LLC (“DMT” or the “Fund”) is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy.
For more information about Dwight Mortgage Trust, please visit: www.dwightmortgagetrust.com
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