Dwight Mortgage Trust Finances $44.3MM in Bridge Loans for Two BTR Apartment Communities in Georgia

Dwight Mortgage Trust (“DMT”), the affiliate REIT of Dwight Capital, closed a pair of bridge financings totaling $44.3 million for two newly constructed built-to-rent (BTR) communities in Georgia: The Station at Kentmere in Auburn and Waterside at Rice Hope in Port Wentworth. The loans were closed on behalf of the borrower, Ark Homes for Rent.

The Station at Kentmere is a 149-unit townhome community, featuring three-bedroom, two-and-a-half-bathroom residences with one-car garages. Each unit boasts high-end finishes, such as granite countertops, stainless steel appliances, walk-in closets, smart home technology, and private patios. Community amenities include a modern clubhouse with an indoor lounge, a fitness center, a resort-style pool with sun deck, outdoor entertainment and picnic areas, BBQ stations, and landscaped grounds.

Waterside at Rice Hope comprises 103 townhomes, offering three-bedroom, two-and-a-half-bathroom floor plans with one-car garages. The spacious interiors include modern kitchens with granite countertops and stainless steel appliances. Community amenities include a clubhouse, playground, lap pool, lazy river, fishing pond, and grilling areas.

The loan proceeds for both financings will be used to cover transaction-related costs and fund an interest reserve.