NewPoint Real Estate Capital Provides $157.9 Million in Freddie Mac Financing for Arizona Multifamily Portfolio
Tucson, AZ (April 11, 2022) – NewPoint Real Estate Capital LLC (“NewPoint”) has provided $157,920,000 in Freddie Mac loans on behalf of Bard Investment Company for the refinancing of a portfolio of four multifamily properties in Arizona. The conventional garden-style apartment complexes include the 472-unit Villagio in Tempe, AZ, the 200-unit Chandler Meadows in Chandler, AZ, and the 222-unit Stonegate and 201-unit Fiesta Village, both located in Mesa, AZ.
The four 10-year Freddie Mac loans were originated by NewPoint Executive Managing Director Jay Blasberg and Managing Director Jarett Blasberg.
“Our client was able to pull out a substantial amount of built-up equity while locking in 10-year interest only payments at historically low interest rates within a few days of application,” said Jay Blasberg. “Bard Investment Company has been adding value to the assets over time through unit renovations and common area upgrades. They are outstanding operators, and the properties were in sterling condition.”
NewPoint is seeking to alter the real estate finance landscape with its unique, innovative processes and lending solutions across numerous property sectors. This portfolio refinancing highlights the effectiveness and approach of NewPoint’s industry-leading team, as well as its continued expansion throughout the Sun Belt region.
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 HUD/FHA MAP and LEAN Lender, NewPoint also offers bridge financing.
The Pollack Group
NewPoint Real Estate Capital