Dwight Mortgage Trust, the REIT affiliate of Dwight Capital, recently closed a $23.6 million bridge refinance for Prairie Home Apartments in Vancouver, Washington. The 120-unit newly constructed apartment community was financed by McBride Capital on behalf of borrower RRC Group LLC.
The funds from this bridge loan will be used to pay off existing construction debt. Specializing in commercial mortgage origination and financing across various real estate asset classes, Dwight Mortgage Trust LLC actively manages real estate investment trusts.
Located in the Orchards neighborhood of Vancouver, Prairie Home offers convenient access to shopping, dining and entertainment options. Built in 2023 on over five acres of land, the property consists of five three-story residential buildings and one clubhouse with a mix of one-, two- and three-bedroom floor plans. Amenities include garages for residents’ vehicles as well as a fitness center,pool with spa area,a grill/picnic area,and even an enclosed dog park for furry friends to enjoy.
