Dwight Mortgage Trust Finances $44M for Two Washington Developments
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $44 million bridge loan to refinance two nearly completed multifamily communities – Bode Columbia City and Bode Tacoma Dome – together comprising 244 units in Seattle and Tacoma, Washington.
Bode Columbia City is an 80-unit property featuring one- and two-bedroom units, with amenities including in-unit washer-dryers, on-site property management, and access to walking and biking trails. Bode Tacoma Dome consists of 164 units across a mix of studios, one-, two-, and three-bedroom layouts, and features in-unit washer-dryers, a fitness center, and a study lounge.
The financing, which closed pre-TCO, retires existing construction debt, covers loan transaction costs, funds an interest reserve, and supports final construction completion. This transaction was originated on behalf of Bode, a vertically integrated development firm headquartered in Seattle.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout