Dwight Capital and Dwight Mortgage Trust Finance $404MM in August 2025

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (“DMT”), provided $404 million in real estate financings in August. Highlighted transactions include a bridge loan for 261 & 315 Grand Concourse in New York, a HUD 223(f) refinance for Alden Park Kingsland in Texas, and a recapitalization loan for Camber Villas in Texas.

DMT closed a $155 million bridge loan to refinance 261 & 315 Grand Concourse, a newly developed 405-unit multifamily community in the Bronx, NY. The project comprises two adjacent buildings: 261 Grand Concourse, featuring 283 market-rate residences, and 315 Grand Concourse, offering 122 affordable units.

The development benefits from a 35-year 421-a tax abatement and Brownfield Tax Credits and is enrolled in the NYC Voluntary Inclusionary Housing Program. The loan, which closed pre-TCO, retired an existing construction loan, covered all transaction costs, and provided a significant cash-out. The financing was originated on behalf of the sponsor, Beitel Group, and brokered by Pinchas Vogel at Landstone Capital Group.

Dwight Capital financed a $59 million HUD 223(f) loan for Alden Park Kingsland, a 423-unit, garden-style apartment community in Houston, TX. The property features ten three-story residential buildings, a community clubhouse, a mail kiosk building, and a combined car center/maintenance building. The complex is GreenPoint Rated, underscoring its commitment to sustainability and energy efficiency. Loan proceeds will be used to retire existing debt, cover closing costs, complete property enhancements, and establish a replacement reserve account to fund future capital improvements. This transaction was originated by Evan Fromen.

In addition, DMT provided a $35 million recapitalization for Camber Villas, a 490-bed student housing community in Bryan, TX. The property consists of 22 three-story buildings offering one- to four-bedroom units. Ideally located, Camber Villas sits directly across the street from Blinn College’s campus and just a 10-minute drive from Texas A&M University. This transaction was originated by David Scheer, Jack Baron, and Alex Izso of Dwight and arranged by Culby Culbertson of Culbertson Holdings.