Dwight Mortgage Trust Finances $59M Bridge Loan for Oregon MF
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided $58.8 million in bridge financing for Solis at Petrosa, a newly constructed 260-unit apartment complex in Bend, Oregon.
Proceeds from the loan will go towards refinancing the borrower’s existing construction debt and fund an operating reserve to facilitate lease-up. Lake Oswego-based McBride Capital brokered the transaction for a repeat Dwight client, Pahlisch Commercial. Proceeds from the loan refinance the borrower’s existing construction debt and fund an operating reserve to facilitate lease-up.
Situated on nearly 10 acres of land, the property consists of eight three-story buildings and one four-story building. Its amenities include a pool, a community lounge equipped with a full kitchen, a fitness room, and a golf simulator room. Solis at Petrosa is located directly opposite Pine Nursery Park, a sprawling 159-acre space offering a variety of recreational facilities such as sports fields, pickleball courts, fishing ponds, trails, and a dog park.
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