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New York & Tri-State  + New Jersey  + Finance  | 

Dwight REIT Closes Bridge Loan for Toms River Apartments

Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has closed a $50-million bridge loan to facilitate the acquisition of Silverwoods, a 313-unit, 55+ multifamily community located in Toms River, NJ. Loan proceeds will be utilized to finance the acquisition, establish an interest reserve, cover transaction expenses and purchase an interest rate cap for the borrowers, Mathias Deutsch and Isidore Bleier

Moshe Feiner of Sevenstone Capital arranged the transaction. The seller was not disclosed.

Located in Ocean County, the property consists of 46 one-story buildings, including seven studios, 41 one-bedroom units and 265 two-bedroom units spread across 55 acres. Onsite amenities include a pool, fitness center and clubhouse.

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Dwight Mortgage Trust

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing