Dwight Mortgage Trust, Dwight Capital Close Over $368 Million in Real Estate Transactions Across Florida, Texas and New York
Dwight Mortgage Trust and its affiliate Dwight Mortgage Trust (DMT) closed more than $368 million in real estate transactions in February 2026, the firms announced. The February activity spanned three distinct deals — a condominium construction loan in Coral Gables, Florida; a HUD-insured apartment construction loan in Garland, Texas; and a mixed-use refinance in Astoria, New York.
$60 Million Construction Loan for Coral Gables Condominium Development
DMT provided a $60 million construction loan for Seventeen Gables Condominium, a planned 117-unit condominium development in Coral Gables, Florida. According to the firms, most residences will be priced under $1 million, making them more attainable than most condominium projects currently under construction in the submarket.
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, a joint venture between Ascendra Capital and BAM Development. Acclaimed designer Karen Asprea will oversee interior design, and Cervera Real Estate will serve as the exclusive residential sales and marketing broker.
David Steinberg of Ascendra Capital commented on the financing structure: "In this environment, buyers seek certainty that their deposits will result in a completed building delivered on time. 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."
$56 Million HUD Loan for Apartment Community in Garland, Texas
Dwight Capital financed 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.
$54 Million HUD Refinance for Mixed-Use Property in Astoria, New York
Dwight Capital also provided a $54 million HUD 223(f) refinance for The Amara, a newly constructed 92-unit, six-story mixed-use apartment building in Astoria, New York. Completed in 2024, the property includes 13,790 square feet of ground-floor retail space. Current retail 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 stated. "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."
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