Dwight Capital closes 2021 with nearly $300 million in long-term care funding
Touting “the most exceptional year yet,” Dwight Capital on Thursday announced more than $5.68 billion in home loans closed in 2021, of which senior living and skilled nursing accounted for $296.2 million. dollars.
Among the transactions concluded by the New York-based real estate finance company:
- The $94.3 million 232(a)(7) housing and urban development refinancing of The Village at Gainesville, a 651-bed independent living, assisted living and memory care community in Gainesville, in Florida. According to Dwight Capital, this refinance was the largest 232(a)(7) healthcare loan in HUD history to date.
- An $89 million acquisition bridge loan for a Certus Healthcare portfolio of 15 skilled nursing facilities with a total of 1,395 beds throughout Ohio.
- A $56.3 million HUD 232(a)(7) loan for the King David Center for Nursing and Rehabilitation, a 271-bed skilled nursing facility in Brooklyn, NY.
- A $56 million bridging refinance for a portfolio of eight skilled nursing facilities in Illinois with a total of 1,550 beds.
“I applaud the entire real estate industry, especially our team members at Dwight Capital, for the tremendous hard work and sacrifices we have all endured to make 2021 a banner year overall,” he said. said managing partner Josh Sasouness. “It’s one of those times in life where it’s okay to look back for a second to realize what we’ve all achieved. As the market continues to become more aggressive, even with a recent tangible rise in interest rates, I encourage us and the industry as a whole to build on this momentum through 2022 in a healthy and disciplined manner.
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