Participations in floating rate bridge loans collateralised by first-priority mortgages on multifamily and healthcare properties in the U.S. that are intended to qualify for long-term permanent loans insured by the U.S. Federal Government through the U.S. Department of Housing & Urban Development (“HUD”) and/or from government sponsored enterprises such as the Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal National Mortgage Association (“Fannie Mae”).
The Notes will provide exposure to a segregated portfolio of loans managed by Dwight Securities Management LLC, which also manages the Dwight Mortgage Trust LLC, a U.S. REIT investing in the same strategy and is an affiliate of Dwight Capital LLC, the second largest HUD lender in the U.S., servicing in excess of US$12 billion of U.S. commercial real estate loans.
Target net returns: 10 to 12% p.a. distributed quarterly¹
Minimum Investment: US$125,000
Principal Repayments: Starting October 2025
Maximum Maturity: October 2028
NAV/Pricing information: Updated monthly on Bloomberg², SIX Financial
ISIN: XS2390483407
Clearing: Euroclear / Clearstream
LOANS PORTFOLIO UPDATE: 31 October 2024
October 2024 net return for investors³: +0.84%
TTM net return for investors³: +11.36%
Loan-to-Value (LTV) WAVG: 63.5%
Remaining term WAVG4: 10 Months
Property Type:
Multifamily: 56%
Senior Living: 44%
Loan Purpose:
Acquisition(Stabilized): 22%
Refinancing(Stabilized): 5%
Lease-up/Stabilization: 46%
Renovation/Repositioning: 27%
Regions:
Northeast: 31%
South: 31%
West: 10%
Midwest: 28%
Dwight SP1 Notes
- Factsheet:
Please refer to the Notes factsheet for important disclosures and further details.
(1) There can be no assurance that any targeted returns, results, portfolio composition, deal pipelines, diversification, capitalization, or asset allocations will be met or that the investment managers will be able to implement their investment strategies, risk management techniques and investment approach or achieve their investment objectives. Actual returns will depend on, among other factors, general economic conditions, market conditions, investment availability, one-time events and other factors that are described in the relevant Series Memorandum and Programme Memorandum relating to each Note. (2) Price available on the Bloomberg HP page under the pricing source: ALPN. (3) Net of all fees, expenses and U.S. taxes (if applicable). (4) Excluding extensions.