NewPoint Real Estate Capital Provides $50 Million Bridge Loan to Refinance Recently Built Multifamily Community in Tampa Bay Area

Plant City, FL (March 10, 2025) - NewPoint Real Estate Capital LLC (“NewPoint”) has provided a $50 million lease-up bridge loan to Hillpointe LLC for the recently completed Pointe Grand Plant City in Plant City, FL. The two-year, floating rate, interest-only loan was originated by NewPoint Managing Director Trevor Ritter.

“NewPoint was able to provide exceptional terms early in the lease-up process to help the borrower execute its business plan,” said Ritter.

The garden-style Pointe Grand Plant City consists of 300 two-bedroom units within 10 three-story apartment buildings. Unit features include an open living space, smart home access and thermostats, washers and dryers, gourmet kitchens, and walk-in closets. Community amenities include a resort-style swimming pool with private cabanas, 24-hour fitness center, clubhouse with coffee and tea bar, a business center with conference room, picnic area with barbecue grills, community firepit, bark park with agility equipment and pet spa, and electric vehicle charging stations. Plant City is situated between Lakeland and Tampa in West Central Florida.

Hillpointe is a fully integrated real estate development and investment management firm focused on the development of market rate workforce housing across the Sun Belt. The firm ranks among the top 10 in the National Multifamily Housing Council's Top 25 Developers and Top 25 Builders.

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.