After withstanding the pandemic and its subsequent challenges, the senior housing industry is seeing occupancy rates and construction starts trending upward, and owner-operators and lenders across the country are taking notice.
The Federal Housing Finance Agency (FHFA) has announced the 2023 multifamily volume cap structure for the Government-Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac, which provide several benefits for affordable and workforce housing.
NewPoint has provided a $105 million bridge loan to facilitate the acquisition and lease-up of SeventyOne15 McDowell, a 2022-built mid-rise luxury community located in Scottsdale, AZ.
Despite a volatile market, NewPoint showed strongly on the fiscal year 2022 HUD/FHA LEAN Rankings, securing the #2 spot for initial endorsements with $389 million financed across 28 transactions representing.
NewPoint has provided two conventional Freddie Mac Multifamily loans totaling $93.5 million to an affiliate of American Landmark LLC to refinance two multifamily communities.
NewPoint has provided a $35.3 million bridge loan to facilitate the acquisition and lease-up of Siena Round Rock on behalf of River Rock Capital, a private real estate investment firm based in New York.
HUD has expanded the benefits of its loan programs to multifamily borrowers by removing longstanding restrictions on the frequency of surplus cash distributions.
The multifamily market has proven to be one of the strongest in 2022. As a sector once hit hard by the pandemic, the multifamily market has rebounded with force across the country.