At a glance
- The borrower is a joint venture of Bridge Investment Group and Pacific Development, according to Dwight.
- Across 368 units the loan works out to about $198,000 a unit.
- For credit allocators pricing similar bridge debt, the deal provides a use-of-proceeds benchmark: a newly delivered 368-unit asset refinanced into a bridge loan that carries an interest reserve and returns equity.
Dwight Investment Management supplied $73 million of bridge debt to refinance Ballpark Apartments, a 368-unit complex in Reno, Nev., that opened in early 2025.
The borrower is a joint venture of Bridge Investment Group and Pacific Development, according to Dwight. Proceeds funded an interest reserve and returned equity to the borrower. Brandon Baksh, Tommy Ng and Talisse Thompson originated the loan. Commercial Observer first reported the financing.
Across 368 units the loan works out to about $198,000 a unit. Pacific Development bought the 201 Evans Avenue site from Simon Property Group in 2021 for $12 million, the Reno Gazette Journal previously reported.
For credit allocators pricing similar bridge debt, the deal provides a use-of-proceeds benchmark: a newly delivered 368-unit asset refinanced into a bridge loan that carries an interest reserve and returns equity. Dwight has made similar loans: in September it provided a $62 million bridge refinancing on the 139-unit Lana project in Culver City, as this publication reported, a loan that paid down prior debt and preferred equity.
Reported by the Real estate debt desk from Commercial Observer and Private Real Estate Daily archive. Published . Corrections