NewPoint Provides $29 Million in Fannie Mae Financing for Denver Area Affordable Housing Community

Denver, CO (December 17, 2024) – NewPoint Real Estate Capital (“NewPoint”) recently provided a $29 million Fannie Mae loan to refinance a garden-style apartment community in the Denver MSA. The loan provided cash out to the borrower, who has owned the asset for three decades.

NewPoint’s John DeWitt and Allison Sita arranged and structured the Fannie Mae loan, which was sourced by David Tradewell of Matthews Real Estate Investment Services™ (Matthews™). This represents the first closed deal as a result of NewPoint’s correspondent agreement with Matthews™. 

The 220-unit community is situated in the well-located Denver suburb of Westminster, CO. There is a strong affordability component at the property with 100% of the units affordable at 80% of the Area Media Income (AMI) and 23.6% of the units at 50% of AMI.

“We secured a very competitive spread given the strong affordability and low leverage point,” said DeWitt. “Matthews’ expertise in the market helped facilitate this seamless transaction. We look forward to collaborating on future business.”

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. Leveraging technology, data, capital, and the expertise of its industry-leading team, NewPoint provides 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 offers proprietary bridge and affordable housing financing, as well as third-party placement solutions.

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.