Dwight Capital Provides Bridge Financing for MN SNF Portfolio

Dwight Capital LLC recently refinanced three skilled nursing facilities for Superior Healthcare Management LLC totaling $14,300,000.  All three facilities are located in Minnesota and maintain stable operations that have steadily improved since current ownership took control. The owner purchased the facilities in 2016 with short term debt and the vision of modernizing operations, but needed additional short term debt to complete his operational updates prior to placing permanent FHA-insured debt on the portfolio.  Bayshore Nursing and Rehab (Duluth, MN), the largest of three facilities, was financed directly through one of Dwight Capital’s bank partnerships. The two smaller facilities, Southshore and Crossroads (Worthington, MN), had tighter timelines due to impending maturities on their existing cross-collateralized debt.  In order to meet the owner’s timeline, Dwight Capital funded the two loans on its balance sheet and assigned the loans to the same partner bank at a later date.