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 proceeds from the bridge loan will be used to pay off existing construction debt. As an actively managed real estate investment trust specializing in commercial mortgages across various asset classes, Dwight Mortgage Trust LLC facilitated this transaction.
Located in the Orchards neighborhood of Vancouver and built in 2023, Prairie Home offers convenient access to shopping, dining and entertainment options. Situated on over five acres of land with five three-story residential buildings and one clubhouse, this community features a mix of one-, two- and three-bedroom floor plans. Its amenities include garages for residents’ vehicles as well as a fitness center,pool area with spa tubs,a grill/picnic area,and even includes space dedicated specifically for dogs to play within its boundaries.
