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Dwight Capital And Dwight Mortgage Trust Close Over $191MM In Seniors And Healthcare Financing During 4th Quarter 2022

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Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $191MM in seniors and healthcare financing during Q4 2022.

Featured among the transactions are bridge loans for a Skilled Nursing Facility (“SNF”) Portfolio in Florida and a SNF Portfolio in Georgia.

Dwight closed a $39MM bridge loan to facilitate the acquisition of a two-property SNF portfolio in Fort Lauderdale, FL: Manor Oaks and Manor Pines. The facilities are three miles apart and comprise 322 beds across approximately 111,800 square feet. Healthcare Managing Director, Adam Offman, originated the transaction.

Offman also originated a $24.25MM bridge refinance for a portfolio of two SNFs in Columbus and Rome, GA: River Towne Center and Etowah Landing. Together, the facilities have 310 beds across 87,400 square feet.

Some other notable Q4 2022 transactions:

• $21MM bridge refinance for a 611-bed SNF portfolio located across Ohio.
• $20MM HUD 232/223(f) loan for an Assisted Living Facility (“ALF”) portfolio comprised of 202 beds across North Carolina.
• $17.1MM HUD 232/223(f) loan for a 100-bed SNF in Long Island, NY.
• $16.1MM bridge acquisition loan for two ALFs totaling 169 beds: Cannon Rivers Senior Living in Cannon Falls, MN, and Wickshire Madison in Madison, WI.
• $10.9MM bridge acquisition loan for Glenbridge Health and Rehabilitation Center, a 134-bed SNF in Boone, NC.
• $8.25MM HUD 232/223(f) loan for Brookside Commerce, a 62-bed Assisted Living and Independent Living Facility in Commerce, GA.
• $8MM HUD 232/223(f) loan for Regency House of Alexandria, a 70-bed SNF/ALF in Alexandria, LA.

 

Source: HREI

Newmark Arranges Disposition Of 15-MOB Portfolio Across Seven High-Growth Sunbelt States And Facilitates Acquisition Financing For The Assets

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Newmark announed it has facilitated the sale of the Southern Core Medical Office Portfolio, a 15-building, approximately 400,000-square-foot medical office building portfolio located across seven Sunbelt states.

Newmark Executive Managing Director Ben Appel, Senior Managing Directors Jay Miele and Michael Greeley and Managing Director John Nero of Newmark’s Healthcare Capital Markets Group represented the seller, Montecito Medical, and advised the buyer, KKR Real Estate Select Trust Inc. (KREST) on debt financing which was provided by BMO Harris Healthcare Real Estate Finance.

“This acquisition provides instant scale across high-growth Sunbelt markets, making it an attractive first investment in core healthcare real estate assets for KREST,” said Appel. “With Montecito Medical retaining its interest in and operational responsibility for the portfolio, this investment is able to provide long-term, stable income for its new ownership while aligning with Montecito Medical’s operational expertise in the healthcare sector.”

The portfolio comprises 15 outpatient medical office buildings and ambulatory surgery centers located across the southern United States in growth submarkets within Arkansas, Florida, Georgia, North Carolina, Tennessee, Texas and South Carolina. The portfolio is over 99% leased to a mix of leading investment-grade health systems and specialist medical groups in practice areas including gastroenterology, nephrology, orthopedics, ophthalmology and urology.

Newmark’s Healthcare Capital Markets group worked in partnership with the firm’s Debt and Structured Finance practice to arrange portfolio financing for the acquirer.

“We appreciate the opportunity to support KREST on this important portfolio financing, which was well received by the lender market given the portfolio’s attractive investment fundamentals and quality provider tenancy,” said John Nero, Managing Director.

 

Source: HREI