Dwight Mortgage Trust (“DMT”), the affiliate REIT of Dwight Capital, provided a $54.6 million bridge loan to finance the acquisition of a six-property skilled nursing portfolio in Pennsylvania. The portfolio includes Hampton House in Wilkes Barre, Kingston Rehabilitation in Kingston, Pottsville Rehabilitation in Pottsville, Williamsport North and South Rehabilitation in Williamsport, and Yeadon Rehabilitation in Yeadon. Together, these facilities comprise 925 beds.
In conjunction with the bridge loan, Dwight Healthcare Funding provided a $7MM working capital line of credit with an accordion feature of up to $15MM. This financing will be used to support the day-to-day operations across all properties.
Adam Offman, Dwight’s Managing Director of Healthcare Finance, originated this transaction for Eden Senior Care, a recurring Dwight client.
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