MIAMI, August 23, 2025
News Summary
A series of real estate financings totaling $569 million closed, led by a $110 million bridge take-out for a newly built 277-unit mixed-use development in Charleston and two 35-year fixed-rate HUD 223(f) refinances: $49.7 million for Elements Apartments in Santa Maria, CA (167 units) and $48.3 million for The Plaza at Pikes Peak in Colorado Springs, CO (215 units). The HUD loans provide long-term capital stability and GreenPoint Rated Silver certifications were noted. Proceeds will refinance construction and existing debt, fund reserves and transaction costs. The financing platform highlighted a broad lending and servicing portfolio and recent seniors housing activity.
MIAMI — Lenders close $569 million in July financings, led by a $110 million bridge for a Charleston mixed‑use project
Finance firms completed $569 million in real estate loans in July. The transactions include a $110 million bridge-style takeout for a new mixed-use development in Charleston, South Carolina, plus two long-term, 35-year fixed-rate HUD 223(f) loans that refinance multifamily properties in California and Colorado.
Top-line deals and loan purpose
The largest single transaction was a $110 million bridge loan provided to refinance construction debt for a newly built, 277-unit mixed-use development in Charleston called LC Line and Low. Loan proceeds will refinance existing construction financing, cover transaction and closing costs, and fund remaining construction items and tenant-related buildouts.
In addition, the lenders closed two HUD 223(f) financings, both 35-year fixed-rate loans: a $49.7 million refinance for Elements Apartments, a 167-unit community in Santa Maria, California, and a $48.3 million refinance for The Plaza at Pikes Peak, a 215-unit community in Colorado Springs, Colorado. Proceeds for these HUD loans will pay off existing debt, cover closing costs, and establish or bolster replacement reserves for future capital needs.
Project details — LC Line and Low (Charleston, SC)
LC Line and Low is a newly completed 277-unit mixed-use development with multiple housing formats and street-level retail. Components include a main residential building, a converted Train Shed with loft-style apartments, and a cluster of historic-style single homes with private courtyards. The site also contains seven retail suites totaling approximately 15,000 square feet.
On-site operations already include food-and-beverage tenants and the project includes planned spaces for an additional restaurant and a cocktail bar. The bridge loan will finish final construction items and backfill the capital stack while returning the property to permanent or longer-term financing.
Elements Apartments (Santa Maria, CA)
Elements Apartments is a 167-unit community completed in 2023 that includes two commercial spaces and resident amenities such as a rooftop sun deck, fitness center, dog park, and picnic area with grilling stations. The property holds a green certification for new homes at the Silver level. The HUD 223(f) refinance will pay off current financing, cover closing costs, and seed a replacement reserve for planned capital improvements.
The Plaza at Pikes Peak (Colorado Springs, CO)
The Plaza at Pikes Peak is a 215-unit apartment community delivered in 2022. The property holds a green rating at the Silver level for existing multifamily homes. The HUD loan provides long-term, fixed-rate capital to stabilize the asset and support future maintenance and capital plans.
Origination and lending roles
The bridge for LC Line and Low and the HUD refinances were originated by teams working on behalf of the respective sponsors and borrowers. The Charleston bridge was originated for the sponsor Lifestyle Communities. The Elements refinance was originated on behalf of a borrower group, and the Plaza transaction was originated for borrowers from regional development and investment firms. Several named originators were involved across the transactions.
Portfolio context and related activity
The lending organization describes its loan servicing portfolio as exceeding $13 billion, and it offers a range of commercial real estate finance products including balance-sheet bridge and new construction lending, FHA/HUD insured loans, C-PACE financing, mezzanine loans, and preferred equity. Separately, the firm closed a large series of seniors housing financings in the prior quarter, and its affiliates provide working capital facilities alongside some bridge loans for healthcare and senior housing portfolios.
Why these deals matter
The mix of a substantial bridge takeout and long-term HUD 223(f) refinancings reflects two financing goals commonly seen in the market: (1) short-term capital to move completed construction off temporary construction loans and allow sponsors to stabilize assets or pursue a longer-term disposition strategy; and (2) long-term, fixed-rate HUD debt for stabilized multifamily properties seeking predictable cash flow and reserves for future capital work.
FAQ
What types of loans closed in July?
The closings included a $110 million bridge takeout loan for a new mixed-use development and two 35-year fixed-rate HUD 223(f) loans refinancing multifamily properties in California and Colorado.
How will the bridge loan proceeds be used?
Proceeds are planned to refinance existing construction debt, pay transaction and closing costs, and fund remaining construction and tenant-related expenses.
What properties were refinanced with HUD loans?
Elements Apartments in Santa Maria, California (167 units), and The Plaza at Pikes Peak in Colorado Springs, Colorado (215 units), were refinanced using HUD 223(f) loans.
What borrower protections or certifications do the properties have?
Elements Apartments has a green certification at the Silver level for new homes. The Plaza at Pikes Peak has a Silver-level certification for existing multifamily homes.
Who provides these loans and what is their lending focus?
The loans were provided by a commercial real estate lending platform and its affiliated mortgage trust that focuses on originating and financing commercial real estate mortgages across asset types and markets.
Where can I find more details about these transactions?
Further details are typically available in lender or borrower transaction releases, loan filing records where applicable, and property-level public records.
Key features at a glance
| Item | Detail |
|---|---|
| Total July financings | $569,000,000 |
| Charleston project | LC Line and Low — 277 units; mixed-use; $110,000,000 bridge loan |
| Elements Apartments | Santa Maria, CA — 167 units; GreenPoint Rated Silver (New); $49,700,000 HUD 223(f) |
| The Plaza at Pikes Peak | Colorado Springs, CO — 215 units; GreenPoint Rated Silver (Existing); $48,300,000 HUD 223(f) |
| Loan types | Bridge takeout / refinance and 35‑year fixed-rate HUD 223(f) refinancing |
| Intended use of proceeds | Refinance construction or existing debt, pay closing costs, fund remaining construction and replacement reserves |
| Lender portfolio scale | Loan servicing portfolio reported above $13 billion |
Deeper Dive: News & Info About This Topic
Additional Resources
- Business Wire: Dwight Capital — July 2025 financings ($569M)
- Wikipedia: Dwight Capital
- Business Wire: Dwight Capital — May 2025 financings ($475.5M)
- Google Search: Dwight Mortgage Trust May 2025 financing
- Business Wire: Dwight Capital — Seniors Housing Q2 2025 ($650.7M)
- Google Scholar: seniors housing financing 2025 Dwight Capital
- McKnight’s Senior Living: Dwight Capital closes $390M long-term care financing
- Encyclopedia Britannica: long-term care financing
- Commercial Observer: Dwight Capital lease at Terra — The Well, Bay Harbor Islands
- Google News: Dwight Capital Bay Harbor Islands
