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.
MIAMI — Dwight Capital and its affiliate Dwight Mortgage Trust closed $569 million in July financings, including a $110 million bridge loan for a new Charleston mixed‑use project and long‑term HUD loans for apartment communities in California and Colorado.
Top line: three major loans in July
The July financings combined a large bridge take‑out and two long‑term federal HUD loans. The biggest single commitment was a $110 million bridge loan that refinances construction debt at a newly built mixed‑use site in Charleston, South Carolina. In addition, the firm closed two 35‑year fixed‑rate HUD 223(f) loans: one for a 167‑unit community in Santa Maria, California, and another for a 215‑unit community in Colorado Springs, Colorado.
LC Line and Low — Charleston, SC (Bridge take‑out)
The bridge loan for the Charleston project refinances existing construction debt, pays transaction and closing costs, and covers the remaining construction expenses. The development is a newly built, 277‑unit mixed‑use site that includes a main residential building, a converted Train Shed with loft‑style units, an enclave of historic single‑home units with private courtyards, and seven retail suites totaling about 15,000 square feet. On‑site food and beverage tenants operate a restaurant and a coffee shop, and the project plans to add a third‑party restaurant and a cocktail bar.
The loan was provided by the affiliated real estate investment trust and was originated for the sponsor by a team of deal originators working on the transaction.
Elements Apartments — Santa Maria, CA (HUD 223(f))
A $49.7 million HUD 223(f) loan refinances Elements Apartments, a 167‑unit multifamily community completed in 2023 that also includes two commercial spaces. The property holds a GreenPoint Rated New Home Silver certification and offers a rooftop sun deck, fitness center, dog park, and picnic area with grilling stations. Loan proceeds will pay off existing debt, cover closing costs, and establish a replacement reserve for future capital repairs.
The Plaza at Pikes Peak — Colorado Springs, CO (HUD 223(f))
The firm also closed a $48.3 million HUD 223(f) loan for The Plaza at Pikes Peak, a 215‑unit apartment community delivered in 2022. This property is certified GreenPoint Rated Silver for existing multifamily homes. The loan is a 35‑year fixed‑rate product intended to provide long‑term financing stability for the property owners.
How these loans fit the lender’s activity
The company describes itself as a commercial real estate finance provider that offers balance‑sheet bridge and new construction loans, FHA/HUD insured loans, C‑PACE financing, mezzanine loans, and preferred equity. The combined servicing portfolio referenced in the announcement exceeds $13 billion, and the affiliated real estate investment trust focuses on originating and financing commercial mortgages while working alongside sponsor partners and affiliate teams to source and evaluate deals nationwide.
Other recent activity and related financings
Separate disclosures covering an earlier quarter showed the firm and its affiliate closed roughly $650.7 million in seniors housing financings, including large bridge loans to acquire multi‑property skilled nursing and assisted living portfolios in several states. Those transactions included a $230 million bridge for a 19‑property portfolio in Ohio and an $80 million bridge for a five‑property portfolio in central Florida, with working capital lines used to support operations in both cases.
The lender also signed a long‑term office lease in South Florida this year, taking about 23,000 square feet on an 11‑year term at a mixed‑use development that includes offices and condo units. That lease move followed a smaller office lease the firm took earlier in the year as it shifted its local footprint within the region.
Why this matters
The mix of a large construction take‑out bridge and long‑term HUD 223(f) loans shows activity across short‑term construction financing and long‑term government‑insured loans. Bridge loans can clear construction balances and support tenant‑ready openings, while HUD 223(f) loans lock in long amortizations and fixed rates for stabilized multifamily properties. The inclusion of green certifications on two properties highlights attention to energy and building performance in recent deals.
Deal originators and sponsor/borrower roles
Each transaction listed a set of internal originators and outside sponsors or borrowers who handled the transaction on the borrower side. Originators and sponsor names were provided by the lender as part of the financing announcements and reflect who led placement and underwriting for each loan.
Bottom line
The July closings totaled $569 million and combined a large construction bridge refinance with long‑term HUD mortgage financing across three newly delivered or newly completed multifamily projects in Charleston, Santa Maria, and Colorado Springs. The deals illustrate a continued appetite for a range of financing solutions in the current market, from short‑term bridge capital to multi‑decade HUD insured mortgages.
Frequently Asked Questions
Q: What was included in the July financing total?
A: The total includes a $110 million bridge loan for a Charleston mixed‑use development and two 35‑year fixed‑rate HUD 223(f) loans: $49.7 million for a property in Santa Maria, CA, and $48.3 million for a property in Colorado Springs, CO, along with other July financings that sum to $569 million.
Q: What is a bridge loan in this context?
A: A bridge loan here is short‑term financing used to replace construction loans, pay transaction costs, and cover remaining construction expenses until a longer‑term loan or other exit is put in place.
Q: What is a HUD 223(f) loan?
A: HUD 223(f) loans are federal mortgage products for stabilized multifamily rental properties that offer long amortizations (often 35 years) and fixed interest rates, aimed at preserving financing stability over decades.
Q: How will loan proceeds be used for each property?
A: The Charleston bridge loan refinances construction debt, covers transaction costs, and funds remaining construction. The HUD loans for Santa Maria and Colorado Springs will pay off existing debt, cover closing costs, and set up reserves for future capital needs.
Q: Do these properties have sustainability certifications?
A: Two properties cited in the transactions hold GreenPoint Rated Silver certifications — one for new homes and one for existing multifamily — indicating recognized standards for energy and resource efficiency.
Q: Where can I find more details about similar loans?
A: Detailed loan terms and underwriting practices are typically available through lender disclosures, loan closing announcements, or federal HUD guidance for 223(f) loans. For project‑level specifics, public records or local planning filings often list development details.
Key features at a glance
| Property | Location | Units | Loan Type | Loan Amount | Certification | Delivery/Completion Year |
|---|---|---|---|---|---|---|
| LC Line and Low | Charleston, SC | 277 | Bridge take‑out | $110,000,000 | — | Newly constructed |
| Elements Apartments | Santa Maria, CA | 167 | HUD 223(f) 35‑yr fixed | $49,700,000 | GreenPoint Rated New Home Silver | 2023 |
| The Plaza at Pikes Peak | Colorado Springs, CO | 215 | HUD 223(f) 35‑yr fixed | $48,300,000 | GreenPoint Rated Silver (Existing) | 2022 |
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
