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Dwight Mortgage Trust Finances $34M for Philadelphia-Area Apartments
Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, closed a $34 million bridge loan to refinance Mi Place at Brightmoor, the 168-unit second phase of a 312-unit apartment community just outside of Philadelphia.
The property features 63 one-bedroom, 84 two-bedroom, and 21 three-bedroom units, each with high-end interior finishes, including quartz countertops, in-unit laundry, stainless steel appliances, and private balconies or patios. The community amenities include a clubhouse, pool, fitness center, game room, community lounge, dog washing area, and playground.
The loan proceeds will be used to retire existing debt, fund an interest reserve, cover transaction costs – including outstanding construction expenses – and provide a substantial cash-out to Fernmoor Homes, a longstanding Dwight client now receiving its fourth financed loan. Additionally, the property benefits from a 30-year PILOT tax abatement, in place since 2021.
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Northmarq Arranges $60.7M Refi for SLC-Area Apartments
Argenic obtained a $60.7 million refinancing on the Altair at Riverwalk, a 378-unit garden apartment community located at 1575 W Riverwalk Dr. in West Haven, Utah. Northmarq’s Salt Lake City Debt + Equity team, led by Ben Vroman, Nate Barnson and Bracken Ostler, arranged the financing. The bridge loan was structured with a two-year term. Built in...
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Campus Realty Advisors to Buy, Upgrade Texas State Student Housing Community
BWE secured a $23.5 million loan to finance the acquisition and substantial improvement of The Edge, a 173-unit, 553-bed student housing community near Texas State University in San Marcos, TX. BWE’s Chris Carroll and Max Miller originated the financing on behalf of Campus Realty Advisors. Texas State has seen a surge in enrollment, which has...
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Walker & Dunlop Arranges $176M Refi for Atlanta-Area BTR Communities
Walker & Dunlop arranged a $176 million credit facility for seven single-family rental communities in various neighborhoods within the Atlanta, Georgia, MSA. The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Ianno, Jackson Irwin, and Christopher de Raet, arranged the financing on behalf of institutional investors advised by J.P. Morgan Asset Management....
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Chase Lord
SVN OAK Realty Advisors | Oklahoma
Lenders
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Brad Hayden
Colorado
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Felix Gutnikov
California
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Gary Bechtel
North Carolina
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Arbor Realty Trust
Management
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Essex Property Trust, Inc.
California
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Asset Living
Texas
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AOG Living
Texas
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Apartment Management Consultants, LLC
Utah
