### Dwight Mortgage Trust Finances $88.5M Bridge Loan for Michigan Multifamily Property
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has closed an $88.5 million value-add bridge acquisition loan for **The Waverly on the Lake**, a lakefront garden-style apartment community in Belleville, Michigan.
The loan proceeds will support the acquisition of the property, fund capital expenditures for unrenovated units, and cover closing costs for **Pepper Pike Capital Partners**, a recurring Dwight client. The transaction was originated by **David Scheer**, Managing Director at Dwight Capital.
Situated on **99 acres along Belleville Lake**, The Waverly on the Lake consists of **1,046 units**, offering private balconies, patios, and walk-in closets. The waterfront community also provides residents with exclusive access to a boat launch and **42 private boat slips**.
**Jacob Repasky, Director of Acquisitions at Pepper Pike Capital Partners**, praised Dwight Mortgage Trust’s efficiency and professionalism. “The team at Dwight has been nothing short of exceptional. During term sheet and loan document negotiations, they are reasonable, fair, and keep their word,” he said.
