Dwight Capital and Dwight Mortgage Trust Close $735 Million in Seniors Housing Financings During Q2 2026
Dwight Capital, together with its affiliate REIT Dwight Mortgage Trust (DMT) and Dwight Healthcare Funding (DHF), closed a combined $735 million in seniors housing financings during the second quarter of 2026. The transactions encompassed HUD-insured loans, bridge financing, and revolving lines of credit across 13 states, the firm announced July 21.
The volume marks a continuation of sustained quarterly deployment into the seniors housing and skilled nursing sector. Dwight Capital and Dwight Mortgage Trust financed $650.7 million in seniors housing deals during Q2 2025 and more than $465 million in Q4 2025, reflecting an upward trajectory in deal flow that has accompanied the firm's expansion of its national healthcare lending platform. Dwight now services a $17 billion loan portfolio across its affiliates.
Eminent Care Group Portfolio: Bridge Loan and Working Capital Facility
Among the quarter's notable transactions, Dwight Mortgage Trust closed a $38.6 million bridge loan for Eminent Care, financing a four-property, 487-bed portfolio of skilled nursing and assisted living facilities across New York, Ohio, and Pennsylvania. The loan was originated by Josh Levin and Noah Greenwald on behalf of Eminent Care.
The financing refinanced the 80-bed Highland Park Rehabilitation and Nursing Center at 160 Seneca Street in Wellsville, N.Y., and funded the acquisition of three additional facilities: the 118-bed Harmony Healthcare Nursing & Rehabilitation at 164 Office Lane in Xenia, Ohio; the 57-bed Aristos Healthcare and Nursing Center in Cleveland, Ohio; and the 232-bed Corner View Nursing and Rehabilitation Center at 1201 South 26th Street in Pittsburgh, Pa.
DHF also provided an $8 million working capital revolving line of credit to support ongoing portfolio operations. The combined capital stack of $46.6 million across the four assets equates to approximately $95,700 per bed. The bridge loan alone represents approximately $79,300 per bed across the 487-bed portfolio.
HUD 232/223(f) Refinances: Florida Skilled Nursing Portfolio
Dwight Capital closed a $34.6 million and a $24.2 million HUD 232/223(f) refinance loan for a two-property skilled nursing portfolio in Florida. The transactions were originated by Managing Director Adam Offman.
The portfolio comprises the Palatka Center for Rehabilitation and Healing, a 180-bed skilled nursing facility at 110 Melody Lane in Palatka, Fla., and the Lake Bennet Center for Rehabilitation and Healing, a 120-bed skilled nursing facility in Ocoee, Fla. Both communities feature outdoor courtyards, recreational facilities, and rehabilitation gyms equipped for physical and occupational therapy.
Additional Bridge and HUD Transactions
Other seniors housing financings completed during Q2 2026 included a range of bridge and HUD-insured deals across multiple states.
On the bridge and revolving credit side, Dwight closed a $109.2 million bridge refinance for a 1,119-bed portfolio in Michigan, including two Continuing Care Retirement Communities and three skilled nursing facilities, in conjunction with a $35 million revolving line of credit. Additional bridge transactions included a $60 million acquisition loan for a 160-bed skilled nursing facility in New York; a $50 million refinance for a 250-bed skilled nursing facility in Maryland; a $36.4 million acquisition loan for a 273-bed portfolio comprising a skilled nursing facility and a CCRC in Colorado; and a $29.3 million acquisition loan for a five-property, 436-bed skilled nursing portfolio in Massachusetts, closed alongside a $12 million revolving line of credit.
HUD 232/223(f) financings during the quarter included $76.1 million across five loans for a five-property, 756-bed skilled nursing portfolio in Arkansas; $48 million across four loans for a four-property, 266-bed skilled nursing portfolio in the Southeast; $41.9 million across four loans for a four-property, 395-bed skilled nursing portfolio in Arkansas; a $24.6 million loan for a 203-bed skilled nursing facility in Illinois; and a $20.6 million loan for a 140-bed skilled nursing facility in North Carolina.
Market Context
The Q2 2026 volume reflects ongoing demand for both permanent HUD-insured debt and flexible bridge capital among skilled nursing and seniors housing operators. Persistent reimbursement and staffing pressures across the sector have increased operator demand for working capital facilities alongside real estate financing, a dynamic illustrated by the Eminent Care transaction's combination of bridge debt and a revolving line of credit. Regional operators have also continued to refinance legacy debt and fund acquisitions, generating steady deal flow for lenders with HUD execution capabilities and healthcare sector specialization.
Dwight Capital expanded its national seniors housing footprint through the acquisition of Midland States Bank's HUD seniors housing mortgage servicing rights portfolio, comprising approximately $500 million in unpaid principal balance across 69 loans in 22 states, a move that added to the firm's HUD servicing capacity.
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