Dwight Mortgage Trust Logo

About DMT

Dwight Mortgage Trust and Dwight Capital

DMT provides attractive risk-adjusted returns to its investors through debt investments in real estate within the United States with a focus on secondary and tertiary markets, which Dwight believes are underserved by other lending institutions.

  • Focused Niche Approach

    Niche product within the short term first lien financing space.

    Emphasis on properties that fit within the GSE programs with a well-defined exit

  • Underwriting

    50+ person underwriting team

    Insight on borrower behavior and nuances of credit conditions/mortgage programs

  • Market Expertise & Insight

    Deep structural understanding across agency debt platforms

    Institutional knowledge with a long history of working in the asset-back securities lending space

  • Risk Management

    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 six 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.

Amortization

Interest only

Loan Amount

$7.5 million - $200 million

Term

Up to 36 months including extension options

Security

First mortgage lien and assignment of rents required; Single-purpose entities and Tenants in Common

Prepayment

Waived if permanent financing is provided by Dwight Capital

Recourse

Typically non-recourse with standard carve-outs for multifamily

Interest Rate

Floating rate over 30-day Term SOFR index, spread over Term SOFR is variable based on property & strategy

Fees

1% finance fee

Guarantors

Required to meet net worth and liquidity dependent on transaction size

Escrows

Required for real estate taxes, insurance, and critical repairs

Eligible Properties

Multifamily, Assisted Living, Skilled Nursing, Retail and more

Maximum LTV

Up to 90% Loan-to-Cost and 80% of stabilized value