PLANO, Texas--(BUSINESS WIRE)--NewPoint Real Estate Capital LLC (“NewPoint”) announces the launch of its multifamily bridge lending program, providing customizable and flexible bridge lending solutions to meet the needs of investors nationwide. NewPoint’s Proprietary Lending team will work closely with NewPoint’s originators and mortgage broker partners to tailor bridge loans that provide short-term interim financing for acquisition, refinance, or recapitalization of multifamily investments.
NewPoint is targeting loans of $5M to $50M with terms up to five-years, focusing on light to moderate transitional multifamily properties throughout the U.S. Benefits of the NewPoint bridge program to borrowers are extensive, offering flexible terms and prepayment provisions; seamless and efficient execution; a smooth transition to in-house Agency takeout; and in-house servicing to provide efficient future fundings and draw requests. Borrowers also have access to competitive pricing and waived exit fees when loans are refinanced through one of NewPoint’s permanent financing options.
The bridge program is being rolled out under the leadership of NewPoint Senior Managing Director Mark Silverstein and will be overseen by Managing Director Brian Skurnik, along with Director Joe Savarese. These leaders are committed to NewPoint’s vision of becoming the nation’s premier provider of multifamily capital through a diverse suite of competitive product offerings; a streamlined approval process; and unmatched structuring, underwriting, and servicing to meet the needs of multifamily investors.
“A core part of our vision at NewPoint is to innovate to meet the changing economic landscape for multifamily,” said Brickman. “Our new bridge program is emblematic of that vision and demonstrates our commitment to being a leader in terms of products and solutions.”
“We are excited to be launching our bridge program, which is the first and an essential element of the various NewPoint proprietary products that we are developing to better serve our clients,” said Silverstein.
NewPoint’s Proprietary Lending team is developing products to better serve multifamily investors looking for alternative financing solutions. The bridge loan program is the first of numerous products the company plans to bring to the market as it continues to innovate and expand its product suite.
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. For more information, please visit https://newpoint.com.