MIAMI, August 23, 2025
News Summary
A series of real estate financings totaling $569 million closed, led by a $110 million bridge take-out for a newly built 277-unit mixed-use development in Charleston and two 35-year fixed-rate HUD 223(f) refinances: $49.7 million for Elements Apartments in Santa Maria, CA (167 units) and $48.3 million for The Plaza at Pikes Peak in Colorado Springs, CO (215 units). The HUD loans provide long-term capital stability and GreenPoint Rated Silver certifications were noted. Proceeds will refinance construction and existing debt, fund reserves and transaction costs. The financing platform highlighted a broad lending and servicing portfolio and recent seniors housing activity.
Dwight Capital and Affiliate Close $569 Million in July Financings, Including $110M Bridge for Charleston Mixed-Use Project
A finance group and its affiliated REIT completed $569 million in real estate loans in July, led by a $110 million bridge loan to refinance a newly built mixed‑use development in Charleston, South Carolina, and two long‑term federal HUD loans that refinanced apartment communities in California and Colorado.
Top-line details
The July closings included a construction take‑out / bridge facility for LC Line and Low in Charleston, a 35‑year fixed‑rate HUD 223(f) refinance of Elements Apartments in Santa Maria, California, and a 35‑year fixed‑rate HUD 223(f) refinance of The Plaza at Pikes Peak in Colorado Springs, Colorado. Together these loans account for a majority of the month’s activity by the firms.
Charleston: LC Line and Low — $110M bridge
An affiliate REIT provided a $110 million bridge loan to refinance LC Line and Low, a newly built 277‑unit mixed‑use complex. The development combines a main residential building, a Train Shed with loft‑style apartments, and a set of historic enclave single homes with private courtyards. The site also includes seven retail suites totaling about 15,000 square feet.
On‑site businesses include a restaurant and bar and a coffee shop, and the project plans additional food and beverage offerings by third parties. Loan proceeds will be used to pay off existing construction debt, cover transaction costs, and fund remaining construction expenses. The transaction was originated on behalf of the project sponsor by a three‑person team.
California: Elements Apartments — $49.7M HUD 223(f)
A separate closing provided a $49.7 million 35‑year fixed‑rate HUD 223(f) loan to refinance a 167‑unit multifamily community with two commercial spaces in Santa Maria. Completed in 2023, the community holds a GreenPoint Rated New Home Silver certification and offers a rooftop sun deck, fitness center, dog park, and picnic area with grilling stations.
Proceeds will retire existing debt, cover closing costs, and establish a replacement reserve for future capital needs. The refinance was originated by a two‑person loan team for the borrowing group.
Colorado: The Plaza at Pikes Peak — $48.3M HUD 223(f)
The group also closed a $48.3 million 35‑year fixed‑rate HUD 223(f) loan to refinance a 215‑unit apartment community delivered in 2022. That property carries a GreenPoint Rated Silver certification for existing multifamily housing. The transaction was originated by a two‑person team working with the borrower sponsors.
Firm profile and other recent activity
The lenders describe themselves as active commercial real estate financiers and report a serviced loan portfolio that exceeds $13 billion. Their product set includes balance‑sheet bridge and new construction loans, FHA/HUD insured loans, C‑PACE financing, mezzanine loans, and preferred equity.
In a separate quarter, the affiliated REIT reported closing roughly $650.7 million in seniors housing financings, which included a large bridge for a multi‑property skilled nursing and assisted living portfolio and other bridge loans for regional portfolios. That seniors housing activity also included working capital lines tied to some transactions.
Corporate moves and contact
The finance group has also been active on the corporate office front, signing a long‑term lease to relocate a headquarters office within a South Florida mixed‑use development this year and making an earlier South Florida move. These office moves were handled through brokerage and legal representation.
For readers seeking the firms’ public materials or media contact information, an industry contact email was provided in their materials for inquiries.
Why these deals matter
These financings illustrate a mix of short‑term bridge capital and long‑dated HUD insured debt being used to transition projects from construction to stabilized ownership, to refinance recently completed communities, and to support regional healthcare and seniors housing portfolios. The use of HUD 223(f) loans for multifamily properties shows an emphasis on fixed long‑term financing for stabilized rental inventory, while bridge facilities remain necessary to close out construction and enable sponsor exits.
FAQ
What types of loans were included in the July closings?
The closings included a construction take‑out / bridge loan and two 35‑year fixed‑rate HUD 223(f) loans.
How much was the bridge loan for the Charleston project?
The bridge loan for the Charleston mixed‑use development totaled $110 million.
What are HUD 223(f) loans used for?
HUD 223(f) loans provide long‑term, fixed‑rate financing for stabilized multifamily housing, often used to refinance existing debt, complete purchases, and fund reserves for capital improvements.
What certifications do the refinanced apartment properties hold?
The California property holds a GreenPoint Rated New Home Silver certification; the Colorado community holds a GreenPoint Rated Silver certification for existing multifamily housing.
Who were the typical parties involved in these transactions?
Each transaction listed an origination team and sponsor/borrower group; the bridge loan was arranged for a developer sponsor of the Charleston project, while the HUD loans were arranged for the borrower groups managing the two apartment communities.
Key deal features at a glance
| Feature | LC Line and Low (Charleston) | Elements Apartments (Santa Maria, CA) | The Plaza at Pikes Peak (Colorado Springs, CO) |
|---|---|---|---|
| Loan type | Bridge / construction take‑out | HUD 223(f) — 35‑year fixed | HUD 223(f) — 35‑year fixed |
| Loan amount | $110,000,000 | $49,700,000 | $48,300,000 |
| Units | 277 units | 167 units | 215 units |
| Notable amenities / components | Mixed‑use, lofts, enclave homes, ~15,000 sq ft retail | Rooftop deck, fitness center, dog park, picnic area | Stabilized multifamily community (delivered 2022) |
| Certification | — | GreenPoint Rated New Home Silver | GreenPoint Rated Silver (Existing Multifamily) |
| Primary use of proceeds | Refinance construction debt, transaction costs, finish work | Payoff debt, closing costs, replacement reserve | Refinance stabilized asset |
Deeper Dive: News & Info About This Topic
Additional Resources
- Business Wire: Dwight Capital — July 2025 financings ($569M)
- Wikipedia: Dwight Capital
- Business Wire: Dwight Capital — May 2025 financings ($475.5M)
- Google Search: Dwight Mortgage Trust May 2025 financing
- Business Wire: Dwight Capital — Seniors Housing Q2 2025 ($650.7M)
- Google Scholar: seniors housing financing 2025 Dwight Capital
- McKnight’s Senior Living: Dwight Capital closes $390M long-term care financing
- Encyclopedia Britannica: long-term care financing
- Commercial Observer: Dwight Capital lease at Terra — The Well, Bay Harbor Islands
- Google News: Dwight Capital Bay Harbor Islands
Author: Construction NY News
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