Dwight Mortgage Trust Refis South Florida Apartments With $72M Loan

Luxcom Builders has sealed $72 million in bridge debt to refinance a newly built luxury apartment project at a former BJ’s Wholesale Club property in South Florida, Commercial Observer has learned.

Dwight Mortgage Trust (DMT) closed the loan for the developer’s 235-unit Sereno multifamily development in Sunrise, Fla., in a deal originated by David Scheer, Alex Izso and Evan Fromen. Loan proceeds were used to retire past construction financing and establish an interest reserve, according to DMT.

Coral Gables, Fla.-based Luxcom, led by developer Oscar Barbara, landed a $41 million construction loan for the garden-style apartment complex in early 2022, The Real Deal previously reported. Barbara acquired the 135,000-square-foot shopping center with a vacant 103,500-square-foot BJ’s Wholesale Club in 2017 for $12.6 million from CREC, according to TRD. 

Located at 8083 West Oakland Park Boulevard, 10 miles west of Fort Lauderdale, Serano features six mid-rise buildings ranging from three to four stories with 91 one-bedroom apartments, 117 two-bedroom units and 27 three-bedroom floor plans. Community amenities include a pool, a movie theater, coworking space, a fitness center, a catering kitchen and a concierge desk.

The Sereno was completed in December 2025 and leased up more than 40 percent of the units in a three month period, according to Luxcom.

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