NewPoint Real Estate Capital Provides $8.5 Million Fannie Mae Refinancing for Multifamily Portfolio in Los Angeles
Plano, TX (November 22, 2021) – NewPoint Real Estate Capital LLC (“NewPoint”) announces the September closing of three loans totaling $8,544,000 to refinance a portfolio of multifamily properties in the Los Angeles, California MSA. The garden-style apartment complexes are located at 713 Alturas Lane in Fallbrook, 6081 Fullerton Avenue in Buena Park, and 206 North Coffman Street in Anaheim, with a combined 60 units.
The three 10-year Fannie Mae Delegated Underwriting Services (DUS®) loans feature interest-only payments for the first five years, followed by a 30-year amortization. The transactions were originated by NewPoint Managing Director Vincent Langan, who has over a decade of experience originating multifamily and commercial real estate loans nationwide across various mortgage lending platforms.
“By successfully leveraging industry experience and maximizing efficiency, our team closed the Los Angeles property portfolio financing in under 40 days,” said Langan. “This portfolio transaction highlights our commitment to providing the highest level of service to clients nationwide, as the entire team worked flawlessly together to provide the optimal solution for our borrower.”
NewPoint launched in the second quarter of 2021, recognizing the need for differentiation and innovation. NewPoint will carry this momentum into 2022 to continue to deliver more efficient and effective financing processes and solutions to the market through proprietary technology and modernization.
About NewPoint Real Estate Capital
NewPoint Real Estate Capital LLC is a joint venture of Meridian Capital Group, LLC, the nation’s leading commercial mortgage brokerage, and Barings LLC, one of the world’s leading investment managers. Launched in second quarter 2021, NewPoint leverages technology, data, and proprietary capital solutions to provide an innovative suite of financing products to investors of multifamily, affordable housing, senior housing, healthcare, and manufactured housing properties. NewPoint is a Fannie Mae DUS® Lender, Freddie Mac Optigo® Servicer, and HUD/FHA MAP and LEAN Lender. In addition, NewPoint offers a variety of proprietary lending products and programs.
Contact:
Stefan Pollack
The Pollack Group
310.780.2364
Elyse Bandel
NewPoint Real Estate Capital
917.447.0143