Niche product within the short term first lien financing space.
Emphasis on properties that fit within the GSE programs with a well-defined exit
50+ person underwriting team
Insight on borrower behavior and nuances of credit conditions/mortgage programs
Deep structural understanding across agency debt platforms
Institutional knowledge with a long history of working in the asset-back securities lending space
DMT’s investment team uses extensive scenario analysis to evaluate risk at both the loan level and portfolio level
Continuous monitoring of borrower’s ability to secure permanent financing through underwriting and origination teams
Dwight Capital has been a Top-5 HUD multifamily loan originator in the U.S. for the past seven consecutive years. With combined experience, the firm’s executives have closed in excess of $9 billion of market rate and affordable housing loans through HUD financing programs over the past decade. The senior team members at DSM and Dwight Capital bring a wealth of knowledge and experience in origination, trading, and portfolio and risk management of FHA and CMBS securities in addition to deep real estate financing experience.
Dwight Mortgage Trust’s managing entity is Dwight Securities Management ("DSM"), a Registered Investment Adviser and an alternate fixed income manager focused on US commercial real estate-backed investments and commercial real estate lending.
$7.5 million - $200 million
Up to 36 months including extension options
First mortgage lien and assignment of rents required; Single-purpose entities and Tenants in Common
Waived if permanent financing is provided by Dwight Capital
Typically non-recourse with standard carve-outs for multifamily
Floating rate over 30-day Term SOFR index, spread over Term SOFR is variable based on property & strategy
1% finance fee
Required to meet net worth and liquidity dependent on transaction size
Required for real estate taxes, insurance, and critical repairs
Multifamily, Assisted Living, Skilled Nursing, Retail and more
Up to 90% Loan-to-Cost and 80% of stabilized value