Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (DMT), closed $619.5 million in real estate transactions in April 2026, marking the firm’s highest-volume month of the year so far. The financings included major HUD-insured multifamily refinancings and pre-construction funding for a large-scale luxury condominium development in South Florida.
Leading the month’s activity was a record-setting $130 million HUD 223(f) loan for The Gardens Residences, a 358-unit luxury high-rise located in Downtown North Miami. The transaction established multiple milestones, including the largest HUD loan ever closed in Florida, the largest multifamily HUD loan approved by HUD’s Southeast Region Office across its 10-state region, and the largest HUD loan in Dwight Capital’s history.
The refinance was originated by Dwight Managing Director Keith Hoffman and Aaron Kirshtein on behalf of borrowers Sebastien Scemla, John Lago, and Shawn Chemtov of Omega Real Estate Management Group. Loan proceeds will retire an existing DMT bridge loan, return equity to the borrower, and establish a 35-year, fully amortizing fixed-rate loan.
Dwight Capital also completed a $114 million HUD 223(f) refinance for 224 W 124th Street, a 168-unit luxury high-rise in Harlem, New York. The proceeds will retire existing debt, including a $105 million bridge loan provided by DMT, cover closing costs, and establish a replacement reserve. Dwight Managing Director Adam Offman originated the transaction on behalf of borrower Rester Management.
In addition, DMT closed $50 million in pre-construction financing for Ombelle Fort Lauderdale, a luxury condominium project anchored by Equinox in Flagler Village. Dependable Equities plans to develop the project as part of a broader 1.4 million-square-foot master development in one of Fort Lauderdale’s fastest-growing neighborhoods.
The Ombelle project will feature two 44-story towers with 775 condominium units, ground-floor retail and restaurant space, and more than 100,000 square feet of amenities. The financing will support predevelopment work and provide additional runway for the sponsor to advance presales before securing construction financing. Katie Goldenberg originated the transaction on behalf of Dependable Equities, while Steven Hersko of The SHB Group arranged the deal.
Dwight Capital is a commercial real estate finance company with a loan servicing portfolio exceeding $16 billion across affiliates. The company provides a range of lending solutions, including balance-sheet bridge and construction loans, FHA/HUD-insured loans, C-PACE financing, mezzanine financing, and preferred equity.
KEY QUOTES:
“Over the last few years, HUD-insured financing has quickly become the hottest ticket in NYC. Between offering the longest term, lowest rate, and highest proceeds, there is no comparable form of financing in the marketplace.”
Adam Offman, Managing Director, Dwight Capital
“Dwight Capital proved to be an exceptional partner throughout. Their expertise helped us navigate a seamless transaction and secure the best possible financing at an unprecedented scale.”
Omega Real Estate Management Group
