NewPoint announces the launch of NewPoint Impact, a proprietary affordable housing lending platform that pairs private capital with government-subsidized products to deliver an innovative set of next-generation affordable housing financing solutions.
Susan Mudry has been elevated to Chief Operating Officer (COO) of the firm. Mudry takes over the COO reins from Phil Spellberg, who helped to found and launch NewPoint, and served in the role during the firm’s first year of operations. While he is formally retiring, Spellberg will remain a Senior Advisor to the firm for the next year.
Supply chain disruptors can be expensive, especially if you are looking to build now. That is according to Geri Borger Urgo, head of production at NewPoint Real Estate Capital.
NewPoint has provided a $50,724,000 conventional Freddie Mac Multifamily loan on behalf of an affiliate of American Landmark LLC to refinance Reunion at 400, a 288-unit community located in Kissimmee, FL.
Fannie Mae has expanded eligibility for its Healthy Housing Rewards™ program, meaning more properties can now qualify for pricing incentives by incorporating health-promoting features.
Based out of Charlotte, NC, Martinson will play a pivotal role in the firm’s Agency and Proprietary Lending Platforms, focusing specifically on conventional multifamily and student housing properties.
NewPoint has provided $10,910,000 in Fannie Mae loans on behalf of The Management Group, Inc. to refinance two multifamily properties in Washington. The conventional garden-style apartment communities are both within the Portland, OR, MSA.
NewPoint has closed a $14,015,000 bridge loan to facilitate the acquisition and proposed renovation of Chesapeake Apartments, a 127-unit garden-style multifamily community in Dallas, TX.