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Business Wire
17-06-2025
- Business
- Business Wire
Dwight Capital and Dwight Mortgage Trust Finance $475.5MM in May 2025
MIAMI--(BUSINESS WIRE)-- Dwight Capital and its affiliate REIT, Dwight Mortgage Trust ('DMT'), closed $475.5 million in real estate financings in May. Highlighted transactions included a bridge loan for a skilled nursing portfolio in Florida, a bridge loan for Moment Apartments in Minneapolis, and a HUD 223(f) refinance for Pointe Grand Brunswick in Georgia. DMT closed an $80 million bridge loan to facilitate the acquisition of a five-property, 518-bed skilled nursing portfolio spread throughout central Florida. In conjunction with the bridge loan, Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio's ongoing operational needs. This transaction was originated by Josh Sturm, Managing Director of Senior Housing and Healthcare. DMT also provided a $49 million bridge loan to refinance Moment Apartments, a newly constructed 222-unit luxury apartment community in Minneapolis, MN. The property consists of a 10-story building with 14,713 square feet of ground-floor retail space, occupied by Starbucks and New Horizon Academy. Residents enjoy premium amenities, such as a fitness center, business center, golf simulator, sauna, and swimming pool. Loan proceeds were used to retire existing debt, fund reserves, and cover transaction-related costs. This financing was originated by Vice President Daniel Malka and Jonathan Pomper for the borrower, Sherman Associates. Additionally, Dwight Capital financed a $43 million HUD 223(f) loan for Pointe Grand Brunswick, a 264-unit lakefront community in Brunswick, Georgia. Built in 2023, the property comprises eight three-story garden-style apartment buildings, exclusively featuring two-bedroom, two-bathroom units, situated on over 23 acres. Loan proceeds were used to repay existing debt, including a bridge loan from DMT, cover closing costs, and return equity accumulated since the project's initial construction. The refinance qualified for a reduced Green Mortgage Insurance Premium (MIP) to 25 basis points, due to the property's National Green Building Standard (NGBS) Bronze Level Certification. The transaction was originated by Managing Director Josh Hoffman and Jonathan Pomper for a recurring Dwight client, Hillpointe, which has successfully developed over $1 billion in multifamily housing assets. About Dwight Capital Dwight Capital LLC is a leading commercial real estate finance company in the United States, with a loan servicing portfolio exceeding $13 billion. Our services encompass a wide range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing, Mezzanine Financing, and Preferred Equity. For more information about Dwight Capital, please visit: About Dwight Mortgage Trust Dwight Mortgage Trust LLC ('DMT' or the 'Fund') is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy. For more information about Dwight Mortgage Trust, please visit:
Korea Herald
12-05-2025
- Business
- Korea Herald
KB Bank signals strategic shift in Indonesia with profit rebound
With profits up, bank weighs naming first local chief KB Kookmin Bank is expected to push for a breakthrough at its long-struggling Indonesian subsidiary, KB Bank, with a change in leadership this year. Accelerating the shift, the unit returned to profitability in the first quarter. KB Bank President Director Lee Woo-yeol is set to step down at the holding company's shareholder meeting scheduled for May 28 at its Seoul headquarters. The bank is reportedly considering appointing an Indonesian national as Lee's successor. If confirmed, it would mark the first time a local figure has led the unit since KB Kookmin Bank fully acquired the Indonesian lender in 2020. Lee, who previously served as Chief Information Officer at KB Kookmin Bank, was appointed to the role to oversee the digital transformation of the unit through the Next Generation Banking System project. On April 21, KB Bank announced the successful launch of NGBS and completion of its system migration. 'The successful migration to NGBS reflects our commitment to delivering banking services that are relevant to today's and future banking needs. Customers can now enjoy a faster and more secure transaction experience, seamlessly across all KB Bank service channels, both online and at branch offices,' Lee said in a press statement. Adding momentum to the restructuring efforts, KB Bank reported a consolidated net profit of 352 billion rupiahs ($21 million) in the first quarter, a sharp turnaround from a net loss of 827 billion rupiahs during the same period last year. With an 11.19 percent increase in net interest income, the unit returned to profit after recording a net loss in the previous quarter. 'These figures are preliminary, based on local standards. They will be finalized once included in the group's consolidated financial statement. But overall, KB Bank has returned to profitability in the first quarter,' a KB Financial Group official said. 'The goal is to post a full-year profit,' the official added. The unit also reported 'notable improvement' in asset quality, with its loan-at-risk ratio falling to 23.41 percent from 34.33 percent. The nonperforming loan ratio improved to 9.1 percent from 9.92 percent. Liquidity also strengthened, with third-party funds growing 10.86 percent on-year, driven by an increase in low-cost deposits. 'This performance underscores the tangible progress of our strategic transformation under the stewardship of KB Financial Group, South Korea's largest financial institution,' the unit said in a social media post. The Indonesian unit had long been a drag on KB Kookmin Bank's global expansion strategy. With the recent turnaround, the lender is expected to report a profit in its overseas operations. While KB Kookmin Bank posted a 96.2 billion won net profit from global operations in the first quarter of 2023, it fell into a net loss of 2.56 billion won during the same period last year, primarily due to losses from the Indonesian unit.
