Dwight Mortgage Trust Closes $72M Bridge Refinance for 235-Unit Luxury Apartment Development in Sunrise, Florida

Dwight Capital has closed a $72 million bridge refinance loan for Sereno, a newly built 235-unit luxury apartment development in Sunrise, Florida, the firm announced. The commercial real estate financing retires existing construction debt.

Transaction Details and Loan Structure

The $72 million bridge loan was originated on behalf of the borrower, LUXCOM, a South Florida-based developer that was recently named Builder of the Year by the Builders Association of South Florida. Loan proceeds were used to repay construction financing, cover transaction costs, and establish an interest reserve. The transaction was originated by David Scheer, Alex Izso, and Evan Fromen of Dwight Capital.

The deal was reported as part of more than $425 million in transactions announced by Dwight Capital and Dwight Mortgage Trust, according to MBA Newslink.

About the Sereno Luxury Apartment Development

Sereno comprises six mid-rise buildings ranging from three to four stories, with a unit mix of 91 one-bedroom, 117 two-bedroom, and 27 three-bedroom residences. The property is located at 4555 N University Dr in Sunrise, Florida.

The development offers an extensive amenity package that includes a resort-style pool, a movie theater, co-working space, a fitness center, a grab-and-go market, a catering kitchen, a concierge desk, and multiple communal gathering areas. Apartment interiors feature Calacatta quartz countertops, designer flooring, private balconies, double-sink vanities, stainless steel appliances, full-size washers and dryers, and ceiling heights ranging from 9 to 11 feet.

Dwight Capital's Lending Activity

Dwight Mortgage Trust is the real estate investment trust affiliate of Dwight Capital. In the first quarter of 2025, Dwight Capital and Dwight Mortgage Trust reported $521 million in seniors housing financing, and in September 2024 the firms closed $279.7 million across multiple transactions.

The Sereno bridge refinance was covered by Commercial Observer, MBA Newslink, MultiHousing News, and Traded at the time of closing.