NewPoint Completes $199 Million Freddie Mac Q-Deal Multifamily Securitization
New York, NY (June 6, 2023) – NewPoint Real Estate Capital announces today that its bridge lending affiliate (collectively, “NewPoint”) has completed a $199 million securitization of eight floating-rate first-mortgage bridge loans secured by multifamily properties through a Freddie Mac-sponsored Q-Deal transaction (“Q-022”). This is NewPoint’s first Q-Deal since launch and the first Freddie Mac Q-Deal to be issued in 2023. The securitization was co-led by Barclays and Wells Fargo, with additional support from Citigroup and Drexel Hamilton. The Freddie Mac Q-Deal program is highly mission-driven and provides liquidity to financial institutions, sponsors and originators.
The Q-022 securitization is backed by NewPoint-financed communities totaling 1,705 units:
- Properties – The eight garden-style properties are located across Texas (six), Nevada (one) and New Jersey (one) and were built between 2016 and 2022.
- Affordability – As of issuance, 88% of units are affordable at 80% of AMI, 57% at 60% of AMI and 16% at 50% of AMI.
- Purpose – Seven loans facilitated acquisitions; one was a refinance.
- Terms – Original loan terms ranged from 24 to 36 months; the weighted average remaining initial loan term at issuance was 15 months.
“The completion of this transaction marks a significant milestone in NewPoint’s growth and showcases our commitment to innovation,” said David Brickman, Chief Executive Officer at NewPoint. “We are incredibly grateful for our partnership with Freddie Mac, and I commend the entire deal team for successfully bringing this offering to market during such a volatile period. The Q-Deal’s strategic execution allows us to extend greater flexibility in our collective drive to support the creation and preservation of high-quality housing.”
Since launching in 2014, the Freddie Mac Q-Deal program has achieved more than $7.6 billion in issuance, with an original loan count exceeding 2,360 loans.
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.
Contacts:
Elyse Bandel
NewPoint Real Estate Capital
Elyse.Bandel@NewPoint.com
917.447.0143
Michael Ratliff
NewPoint Real Estate Capital
Michael.Ratliff@NewPoint.com
917.636.3578