Dwight Capital and Dwight Mortgage Trust Close $619.5 Million in Commercial Real Estate Financing in April 2026
Dwight Mortgage Trust and its affiliate REIT, Dwight Mortgage Trust (DMT), closed $619.5 million in commercial real estate financing transactions in April 2026, the firm announced — marking the highest-volume month of the year to date for the combined platform. The activity spanned multifamily refinancings in South Florida and New York City, as well as pre-construction financing for a large-scale development in Fort Lauderdale.
Record HUD Loan Headlines Florida Multifamily Activity
Leading the month's volume, Dwight Capital closed a $130 million HUD 223(f) loan for The Gardens Residences, a 358-unit luxury high-rise in Downtown North Miami. The firm described the transaction as the largest HUD loan ever closed in Florida, the largest multifamily HUD loan approved by HUD's Southeast Region Office across its 10-state coverage area, and the largest HUD loan in Dwight Capital's history.
The refinance was originated by Dwight Capital Managing Director Keith Hoffman and Aaron Kirshtein on behalf of the borrowers — Sebastien Scemla, John Lago, and Shawn Chemtov of Omega Real Estate Management Group. Loan proceeds will retire an existing DMT bridge loan, return equity to the borrower, and establish a 35-year, fully amortizing, fixed-rate loan.
"Dwight Capital proved to be an exceptional partner throughout. Their expertise helped us navigate a seamless transaction and secure the best possible financing at an unprecedented scale," Omega Real Estate Management Group said in a statement.
HUD Financing in New York City Multifamily Market
Dwight Capital also closed a $114 million HUD 223(f) refinance for 224 W 124th Street, a 168-unit luxury high-rise in Harlem, New York. Loan proceeds will retire existing debt — including a $105 million bridge loan previously provided by DMT — cover closing costs, and fund a replacement reserve. Managing Director Adam Offman originated the transaction on behalf of the borrower, Rester Management.
Offman pointed to the growing appeal of HUD-insured debt in the New York market. "Over the last few years, HUD-insured financing has quickly become the hottest ticket in NYC," he said. "Between offering the longest term, lowest rate, and highest proceeds, there is no comparable form of financing in the marketplace."
DMT Provides Pre-Construction Financing for Fort Lauderdale Condo Development
DMT also closed $50 million in pre-construction financing for Ombelle Fort Lauderdale, a luxury condominium project anchored by Equinox in Fort Lauderdale's Flagler Village neighborhood. The project is being developed by Dependable Equities as part of a larger 1.4 million-square-foot master development.
Ombelle Fort Lauderdale is planned as two 44-story towers comprising 775 condominium units, ground-floor retail and restaurant spaces, and more than 100,000 square feet of amenity space. The loan will fund planned predevelopment work while providing the sponsor additional runway to advance presales ahead of securing construction financing.
The transaction was originated by Katie Goldenberg on behalf of the sponsor, Dependable Equities, and arranged by Steven Hersko of The SHB Group.
April Volume Reflects Broad Commercial Real Estate Financing Activity
Across the three highlighted transactions — The Gardens Residences, 224 W 124th Street, and Ombelle Fort Lauderdale — Dwight Capital and Dwight Mortgage Trust deployed or facilitated $294 million in financing. The firm's total April volume of $619.5 million indicates additional transactions beyond those detailed in the announcement.
The month's activity reflects the continued use of HUD-insured programs in the multifamily financing landscape. The Gardens Residences and 224 W 124th Street transactions both followed a bridge-to-HUD structure in which DMT provided short-term bridge financing that was subsequently retired by long-term HUD permanent debt.
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Dwight Mortgage Trust — Dwight Capital and Dwight Mortgage Trust Finance Over $619MM in April 2026