Dwight Capital Acquires $500M Seniors Housing Mortgage Servicing Portfolio, Expanding Platform to $15 Billion

Dwight Capital has acquired Midland States Bank's seniors housing HUD mortgage servicing rights (MSR) portfolio, a transaction representing more than $500 million in unpaid principal balance across 69 loans spanning 22 states, the firm announced March 2, 2026.

The portfolio includes loans secured by skilled nursing facilities, assisted living facilities, and hospitals. Following the acquisition, Dwight Capital's combined loan servicing portfolio — including affiliates — will exceed $15 billion.

Expanding a Commercial Real Estate Servicing Platform

The deal reflects Dwight Capital's stated strategy of scaling its servicing footprint across both principal lending and third-party servicing channels.

Josh Sasouness, Co-CEO of Dwight Capital, commented on the growth trajectory: "Our servicing portfolio has scaled significantly in recent years, and we continue to invest in the people, technology, and compliance infrastructure needed to support complex real estate assets while maintaining a direct personal connection with our clients."

The acquisition reflects Dwight Capital's stated commitment to continued growth within the seniors housing and healthcare real estate sector, as well as its focus on strengthening long-term relationships as both a direct lender and servicer.

Portfolio Details and Scope

The MSR portfolio acquired from Midland States Bank consists of HUD-insured loans collateralized by seniors housing and healthcare properties, including skilled nursing facilities, assisted living facilities, and hospitals. The 69 loans carry a combined unpaid principal balance exceeding $500 million and are geographically distributed across 22 states.

As a mortgage servicing rights transaction, the deal does not involve the direct purchase of real property. Instead, Dwight Capital gains the rights and responsibilities associated with administering the underlying HUD-insured loans — including payment processing, borrower communication, compliance oversight, and default management.