NewPoint Provides $35.5 Million in Proprietary Bridge Financing for Multifamily Property in Austin, TX

Austin, TX (December 16, 2024) – NewPoint Real Estate Capital (“NewPoint”) has provided $35.5 million in proprietary bridge financing to facilitate the acquisition and renovation of a garden-style multifamily property located in Austin, TX. The loan proceeds include future funding for capital expenditures to renovate unit interiors as well as exteriors and amenities. NewPoint’s full suite of permanent financing options including Fannie, Freddie, HUD, and CMBS execution will be considered once the property reaches stabilization.

This transaction was originated by Director Cal Masterson, who is based in NewPoint’s Plano, TX headquarters office and Managing Director Kevin Laidlaw, who is located in Chicago, IL.

“While we were late to the bidding process, which was led by a nationally recognized broker, we have a direct relationship with the borrower and were able to issue a quote within two days of receiving the preliminary due diligence,” said Masterson. “Given our fast turnaround time and competitive quote, we were awarded the business and closed in less than 45 days,” he added.

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.