Dwight Capital Closes $130M Bridge Refinance on SAIYA Mixed-Use Tower for Bridge Investment Group and Hatteras Sky

Dwight Capital has closed a $130 million bridge refinance for SAIYA, a 389-unit, Class A mixed-use high-rise located at 802 N 1st Ave in Downtown Phoenix's Roosevelt Row Arts District, the firm announced. The borrowers are a joint venture between Bridge Investment Group and Hatteras Sky.

The transaction was part of a broader $723 million in real estate financings that Dwight Capital and its affiliate, Dwight Investment Management, completed in August 2026.

SAIYA: A 23-Story Mixed-Use Tower in Phoenix's Opportunity Zone

Completed in 2025, SAIYA rises 23 stories and offers 389 residential units comprising 150 studios, 165 one-bedrooms, 61 two-bedrooms, and 13 three-bedrooms. The property also includes 12,550 square feet of ground-floor retail space. Ground-floor tenants Pablo's restaurant and lounge and Yvree, an integrated wellness studio, are both expected to open this fall.

The building features "Through Her Eyes," a 230-foot-tall mural by artist Leila Parnian, cited as Arizona's tallest mural. The development sits within a designated Opportunity Zone in the Roosevelt Row Arts District, a factor Dwight's originators highlighted in their assessment of the asset.

Loan proceeds were used to repay existing debt, cover loan transaction costs, and fund an interest reserve.

Origination Team and Deal Commentary

Brandon Baksh, Tommy Ng, and Talisse Thompson originated the financing on behalf of the borrowers.

"We view SAIYA as a centerpiece of the broader Opportunity Zone in the area and are excited to see it continue to flourish as retail tenants begin operations and growth continues across the surrounding area," said Baksh and Thompson.

Dwight's August Activity: $723M Across Three Markets

The SAIYA refinance was the largest single transaction in Dwight Capital's August closing volume. The firm also provided a $115 million bridge refinance for The Seventeen Hundred, a newly constructed 295-unit mixed-use development in Charlotte, North Carolina. That loan was originated by Managing Director Josh Hoffman on behalf of Brian and Brittani Phillips of The Phillips Collective. Proceeds were used to retire existing construction debt, fund an interest reserve, cover construction costs, and provide cash-out proceeds.

Additionally, Dwight closed a $70 million bridge refinance for Cosmo 440, a 25-story, 216-unit multifamily tower in Newark, New Jersey. That transaction was originated by Managing Director David Scheer and Alex Izso, and arranged by Drew Capital's Akiva Drew on behalf of Yisroel Berger.

Sources

Dwight Capital – August 2026 Financing Announcement