Dwight Mortgage Trust Provides $67.5M Loan for Refinancing of Upstate New York Multifamily Property

SARATOGA SPRINGS, N.Y. — Dwight Mortgage Trust, an affiliate REIT of New York City-based Dwight Capital, has provided a $67.5 million bridge loan for the refinancing of Elements at Saratoga Lake, a 260-unit multifamily property located north of Albany in Saratoga Springs. The property consists of 26 residential buildings and a clubhouse. Units come in one- and two-bedroom floor plans, and amenities include indoor and outdoor pools, a fitness center, private lounge, community kitchen, business center, walking trails, a clubroom, grilling stations and a golf simulator. David Scheer and Joshua Klein of Dwight originated the financing on behalf of the borrower, Blue Iron Development.