Dwight Capital and Dwight Mortgage Trust Finance Over $663MM in May 2026

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust ("DMT"), closed $663.2 million in real estate transactions in May, representing the firm's strongest month of 2026 to date.

Headlining the month's activity, Dwight Capital closed the largest multifamily HUD Loan in Wisconsin history: a $114 million HUD 221(d)(4) substantial rehabilitation loan for the conversion of 100 East Wisconsin. This was also the largest multifamily loan approved by HUD's Midwest Region Office, and the largest HUD 221(d)(4) construction loan in Dwight Capital's history.

The existing 34-story office building will be transformed into a 373-unit luxury apartment community. At just 35 years old, 100 East Wisconsin is among the youngest buildings ever added to the National Register of Historic Places, designated on January 16, 2025-a distinction that qualified the project for federal and state historic tax credits. The City of Milwaukee further supported the project with a tax increment financing package of up to $16.6 million through a newly established tax increment district.

Loan proceeds will be used for the development's construction and permanent financing. Dwight Capital Managing Director Keith Hoffman and Jack Tawil originated this loan on behalf of the developers, Klein Development, led by Joe Klein, Michael Klein, and Derek Schneider, and MOS R.E., led by Johnny Vassallo.

"100 East is an iconic project that has been years in the making, and Dwight Capital's team delivered an outstanding experience from day one," Joe Klein said. "Their sophistication, strategic guidance, and all-hands-on-deck approach were critical in navigating a very complex transaction. Keith, Jack, and the entire underwriting and closing teams were proactive, solutions-oriented, and always available, making them an exceptional partner on this landmark project."

Dwight Capital also financed a $66 million HUD 221(d)(4) construction loan for The Lariat at Abilene, a 312-unit luxury multifamily development in Abilene, TX. Set on 13 acres near major employers including Blue Cross Blue Shield and Dyess Air Force Base, the property will feature 13 three-story garden-style buildings, six garages, and a clubhouse. Partner Brandon Baksh and Tommy Ng originated this loan on behalf of repeat Dwight client Austin Martin, Partner of Martin Inderman Development.

Additionally, DMT closed a $55 million new construction loan for 10 Ashel Lane, a 104-unit mixed-use project in Kaser, NY. The commercial component will include 45,000 SF of ground-floor space, with a kosher grocer and an urgent care provider. Located in Rockland County's hamlet of Monsey, the project is well-positioned to serve Kaser's growing population.

The loan will fund the acquisition, ground-up construction, and cover closing costs. The transaction was originated by Katie Goldenberg on behalf of the sponsor, Simon Dushinsky of Sky Equity Group, and arranged by Steven Hersko of The SHB Group.

"It was a real pleasure working with Dwight," said Steven Hersko. "Despite the asset's challenging tertiary location, they understood the market dynamics and delivered competitive pricing and leverage. Their professionalism made for a seamless process from start to finish."