Dwight Capital Finances $272 Million in Real Estate Loans Across NY, FL, and NC

NEW YORK — Dwight Capital and its affiliate real estate investment trust, Dwight Mortgage Trust, financed a combined $272 million in real estate transactions during October, according to a company announcement. The deals include construction and refinancing loans across New York, Florida, and North Carolina.

New York Mixed-Use Development Receives $70 Million Construction Loan

Dwight Mortgage Trust closed a $70 million construction loan for 33–35 W 125th Street, a proposed 180-unit apartment project in New York, NY. The mixed-use property will include three commercial spaces totaling 17,440 square feet on the lower floors. The project is eligible for a 35-year 421-a tax abatement, with 30% of the units designated as affordable housing. Loan proceeds will fund ground-up construction, closing costs, and an interest reserve. The transaction was originated by Keith Hoffman, managing director at Dwight Capital.

A representative of the borrower, Irgang Group, said the firm was pleased to work with Dwight on the financing and thanked The Meridian Group for arranging the transaction.

Florida Multifamily Property Secures $46 Million HUD Refinance

Dwight Capital provided a $46 million HUD 223(f) refinance for Arcadia Apartments, a 212-unit apartment community in Tamarac, Florida, completed in 2023. The refinancing proceeds will retire existing debt, cover closing costs, and establish a replacement reserve for future capital improvements. The transaction was originated by Josh Hoffman and Jeremy Packer on behalf of the borrower, Carac.

North Carolina Build-to-Rent Project Financed with $43 Million Loan

Dwight Mortgage Trust also closed a $43 million construction loan for Old Charlotte Townhomes, a proposed 133-unit build-to-rent community in Asheville, North Carolina. The project will be developed on 17 acres within a larger master-planned community that includes for-sale homes and a multifamily component. Loan proceeds will support land development, construction costs, community amenities, and transaction expenses for the borrower, Golden Hour Collective.

Summary

The $272 million in total financing reflects Dwight Capital’s activity in real estate lending across multiple U.S. markets, including construction and refinancing transactions.

Source: Dwight Capital