Dwight Lends $29M on Connecticut Luxury Multifamily Property

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Dwight Capital has supplied $29 million refinance for  a newly-built Connecticut multifamily asset, Commercial Observer can first report.

The Manhattan-based alternative lender provided the bridge loan for Harbor Heights Apartments, a 121-unit luxury apartment community in Mystic, Conn. Dwight Vice President Daniel Malka, and Jacob Gauptman, an originator, spearheaded the transaction.

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Proceeds from the Dwight financing paid off an existing construction loan and will also be used towards pre-development costs for a second phase of the property, which includes a planned 72,000 square-foot surgical center.

Located at 50 Perkins Farm Drive, Harbor Heights Apartments was completed last year with one four-story building that includes an onsite leasing/management office situated on 10.5 acres. Its amenities include a clubhouse with kitchen, conference room, dog park, fitness room, swimming pool and outdoor barbeque area.

Trio Properties, manager of Harbor Heights Apartments, did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com