Dwight Mortgage Trust closed a $72 million bridge refinance loan for Sereno, a newly built 235-unit luxury apartment development in Sunrise, Florida. LUXCOM was the borrower. Loan proceeds were used to repay construction financing, cover transaction costs, establish an interest reserve, and retire existing construction debt. The transaction was originated by David Scheer, Alex Izso, and Evan Fromen on behalf of LUXCOM.
The property comprises six mid-rise buildings ranging from three to four stories, and features a unit mix of 91 one-bedroom, 117 two-bedroom, and 27 three-bedroom residences. Sereno offers an amenity package, that includes a pool, a movie theater, co-working space, a fitness center, a grab-and-go market, a catering kitchen, a concierge desk, and multiple communal gathering areas.
On its website, LUXCOM says it has over 10,000 units and approaching 1,000,000 square feet of commercial space developed to date. It has completed $ 2 billion in real estate transactions.
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