NewPoint Provides $17.5 Million in Multifamily Acquisition Financing Via Fannie Mae's Sponsor-Dedicated Workforce (SDW) Program

Las Vegas, NV (November 14, 2023) – NewPoint Real Estate Capital ("NewPoint") has provided $17.5 million in Fannie Mae DUS® conventional multifamily financing to facilitate the acquisition of Intrigue Apartments, a 193-unit community located in Las Vegas, NV. NewPoint Managing Director David Bleiweiss originated the loan, which featured a seven-year term with four years of interest only followed by a 30-year amortization schedule. The property was purchased by a private family trust.

"This is a well-located, well-maintained property that offers a value-proposition to the local workforce,” Bleiweiss said. “We structured short-term, fixed-rate financing to avoid rate cap costs and utilized Fannie Mae’s recently launched SDW program, which provides an interest rate reduction for borrowers who create or preserve affordability.”    

Fannie Mae’s Sponsor-Dedicated Workforce (SDW) program is designed to support conventional multifamily properties; borrowers receive lower interest rates and streamlined underwriting by agreeing to keep a minimum of 20% of units affordable at 80% of AMI or 100-120% of AMI in specific cost-burdened markets.

Intrigue Apartments, formerly known as Andiamo Apartments, is a 1986-built garden-style multifamily community located in the Twin Lakes neighborhood roughly seven miles north of the Las Vegas Strip. Community amenities include a pool, fitness center, dog park, playground, and barbecue areas.

About NewPoint Real Estate Capital
NewPoint Real Estate Capital LLC (“NewPoint”) is a prominent commercial real estate finance company delivering lending solutions to investors of multifamily, affordable housing, seniors housing, healthcare, and manufactured housing properties nationwide. NewPoint leverages technology, data, capital, and the expertise of its industry-leading team to provide loan origination, servicing, execution, and a suite of Agency and curated proprietary products to meet the evolving needs of borrowers. In addition to being a Fannie Mae DUS®, Freddie Mac Optigo®, and FHA/HUD MAP and LEAN Lender, NewPoint also offers proprietary bridge and affordable housing financing, as well as third-party placement solutions.

Contacts:
Elyse Bandel
NewPoint Real Estate Capital
Elyse.Bandel@NewPoint.com
917.447.0143

Michael Ratliff
NewPoint Real Estate Capital
Michael.Ratliff@NewPoint.com
917.636.3578