Dwight Capital and Dwight Mortgage Trust Close Over $368M in Real Estate Financing Across Florida, Texas, and New York

Dwight Capital and its affiliate Dwight Mortgage Trust (DMT) closed more than $368 million in real estate transactions in February 2026, the firm announced, encompassing three separate financings across Florida, Texas, and New York.

$60M Construction Loan for Seventeen Gables Condominium in Coral Gables

DMT provided a $60 million construction loan for Seventeen Gables Condominium, a planned 117-unit condominium development in Coral Gables, Fla. The borrower is a joint venture between Ascendra Capital and BAM Development. Most residences at the project will be priced under $1 million, positioning the development as more attainable than many condominium projects currently under construction in the submarket, according to the announcement.

The transaction was originated by David Scheer and Alex Izso of Dwight Capital and arranged by Isaac Filler, Steve Edelstein, and Yossi Koschitzki of Filler Capital on behalf of the borrower. Designer Karen Asprea will oversee interior design, and Cervera Real Estate serves as the exclusive residential sales and marketing broker.

David Steinberg of Ascendra Capital cited current market dynamics as a key driver of the financing structure. "In this environment, buyers seek certainty that their deposits will result in a completed building delivered on time," Steinberg said. "This creates a vicious cycle for developers as they cannot meet the minimum sales thresholds in order for their construction financing to kick in. Working with Dwight, we created a structure that allows us to begin construction immediately, projecting confidence to the market, and in parallel commence unit sales."

$56M HUD 221(d)(4) Loan for StoneHawk Rosehill in Garland, Texas

Dwight Capital also closed a $56 million HUD 221(d)(4) new construction loan for StoneHawk Rosehill, a planned 269-unit apartment community situated on seven acres in Garland, Texas. The loan features a 24-month interest-only period followed by a 40-year fully amortizing term. Approximately 51% of the units will be designated as income- and rent-restricted, with the remaining units offered at market rates.

The transaction was originated by Brandon Baksh and Brian Yee on behalf of the sponsor, StoneHawk Capital Partners.

$54M HUD 223(f) Refinance for The Amara in Astoria, New York

Dwight Capital provided a $54 million HUD 223(f) refinance for The Amara, a newly constructed 92-unit, six-story mixed-use apartment building in Astoria, N.Y. The property was completed in 2024 and includes 13,790 square feet of ground-floor retail space. Tenants include Spear Physical Therapy, The French Workshop restaurant, Freddy's Since 1961 pizzeria, and Wonder Astoria food hall.

The Amara benefits from a 35-year real property tax exemption under the 421-a (16) Affordable New York Housing Tax Exemption Program. Loan proceeds retired existing debt, established a replacement reserve, and returned equity to the borrower. The transaction was originated by Keith Hoffman and Jack Tawil on behalf of the borrower, Demetri Tsilogiannis of Tsilo Group.

"We couldn't be happier with Dwight Capital. Keith Hoffman and Jack Tawil were truly exceptional, completely transparent, and deeply knowledgeable from day one," Tsilogiannis said. "It was a complex new-construction deal, but they handled everything very smoothly and helped us close the $54 million financing on The Amara. We're grateful and would partner with Dwight again in a heartbeat."

February Financing Activity

The three February transactions span distinct financing structures — a private construction loan, a HUD new construction loan, and a HUD refinance — reflecting the range of financing tools the firm deploys. All three projects include affordability components, whether through below-market condominium pricing, income-restricted apartment units, or tax-exempt status under New York's 421-a program.