Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, closed more than $350 million in real estate transactions in January 2026, underscoring continued momentum across multifamily refinance and ground-up development projects nationwide.
Among the largest transactions was a $104 million bridge refinance for a 350-unit high-rise apartment community in North Miami, Florida. Situated on a four-acre site, the property includes a mix of studio, one-, two-, and three-bedroom units. Loan proceeds were used to retire existing debt, cover closing costs, and establish a replacement reserve. The transaction was originated by Managing Director Keith Hoffman and Aaron Kirshtein.
The firm also originated a $110 million HUD 223(f) loan for 55 Union, a 403-unit multifamily community in Newark, New Jersey. Completed in 2023, the 12-story high-rise features 3,222 square feet of ground-floor commercial space. Proceeds from the loan were used to retire existing debt, fund closing costs, establish a replacement reserve, and return equity generated during construction and lease-up. Josh Hoffman and Jonathan Pomper originated the transaction on behalf of Newark-based J&L Companies.
In addition, Dwight Capital provided a $60 million HUD 221(d)(4) loan to finance the ground-up construction of Lotus Alchemy, a 184-unit mixed-use development planned for downtown Salt Lake City, Utah. The loan includes a 24-month interest-only period and will automatically convert to a fully amortizing 40-year term. The project will consist of a six-story residential building with a two-level parking garage, approximately 9,000 square feet of commercial space across three retail units, and a 2,700-square-foot lobby and leasing office.
The financing was executed through a “straight-to-firm” HUD application process, eliminating the preliminary application stage to accelerate approval. Brandon Baksh, Partner at Dwight Capital, originated the transaction on behalf of repeat client Lotus Company.
Dwight Capital is a commercial real estate finance company in the United States with a loan servicing portfolio exceeding $14 billion across its affiliates. The firm provides a range of lending options, including balance-sheet bridge and new construction loans, FHA/HUD-insured loans, C-PACE financing, mezzanine financing, and preferred equity.
Dwight Mortgage Trust is an actively managed real estate investment trust focused on originating and financing commercial mortgages across multiple asset classes. The fund works alongside Dwight Capital to source and evaluate lending opportunities nationwide, partnering with experienced sponsors in major markets and targeting investments with defined exit strategies.
KEY QUOTES
“We’re grateful to Dwight Capital for their exceptional support and execution throughout the HUD loan process, bringing deep expertise and making what can be a complicated transaction feel seamless and well-managed. As Newark continues to grow and strengthen its position among top-tier urban markets, HUD 223(f) financing offers Class A operators an attractive source of long-term capital to support stable, high-quality assets.”
Gabriel Lopez, Principal at J&L Companies
“Lotus Alchemy reflects our continued commitment to mindfully create and deliver high-quality, mixed-use projects in strong urban markets like downtown Salt Lake City. Brandon Baksh and the team at Dwight Capital bring deep expertise with HUD 221(d)(4) financing and executed a straightforward process that was critical to achieving an efficient closing timeline. We value Dwight as a trusted capital partner and appreciate their continued support of our growth.”
Steven Blomquist, Director of Development at Lotus Company
