Dwight Investment Group Supplies $130M Refi for Phoenix Apartment Tower 

A joint venture between Bridge Investment Group and Hatteras Sky has sealed $130 million of bridge debt to refinance a newly built mixed-use multifamily tower in Downtown Phoenix, Commercial Observer has learned.

Dwight Investment Management provided the loan for the sponsorship’s 23-story Saiya development, completed in 2025, in a deal originated by Brandon Baksh, Tommy Ng and Talisse Thompson. 

In addition to repaying existing debt, the refi also funded an interest reserve, according to Dwight.

“We view Saiya as a centerpiece of the broader Opportunity Zone in the area, and are excited to see it continue to flourish as retail tenants begin operations and growth across the surrounding area continues,” Baksh, managing director at Dwight,said in a statement. 

Located at 802 North First Avenue in Downtown Phoenix’s Roosevelt Row Arts District, the 389-unit building features apartment units ranging from studios to three-bedrooms along with 12,550 square feet of ground-floor retail space that includes a Pablo’s restaurant and wellness studio Yvree scheduled to open this fall. Resident amenities include a two-story fitness center, a rooftop lounge with a kitchen, and a dog park.

Bridge Investment Group and Hatteras Sky did not immediately return a request or comment.

Andrew Coen can be reached at acoen@commercialobserver.com.