Dwight Mortgage Trust Supplies $75M Construction Loan on Fort Myers Apartments

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Development firm Catalyst Asset Management has nabbed $75 million of construction financing to build a multifamily project in Fort Myers, Fla., Commercial Observer has learned.

Dwight Mortgage Trust, the real estate investment trust affiliate of Dwight Capital, provided the loan for Catalyst’s planned 321-unit Montage at Midtown development. Tammy Tate, senior originator at Dwight, originated the transaction.

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Located at 2101 Jackson Street in Downtown Fort Myers, the Montage at Midtown project is slated for completion in 2025. The property will consist of a four-story apartment building, a five-story clubhouse, a six-story parking garage and five courtyards on roughly 5 acres. Its amenities will include a pool, a pet park, a spa, a coffee shop and barbeque areas. 

Joseph Bonora, president at Catalyst Asset Management, said, “At a time when it’s extremely challenging to obtain construction financing,” the firm was “fortunate” to work with a lender like Dwight that “recognized the qualities that make this project so compelling.”

Officials at Dwight did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com