NewPoint Real Estate Capital Provides Fannie Mae Loan
Denver, CO – Matthews™ Capital Markets (MCM), a fully integrated and dedicated financing division of Matthews Real Estate Investment Services™, recently secured a $29,000,000 Fannie Mae loan for the refinance of a garden-style affordable housing community in the Denver MSA. Matthews™ First Vice President David Treadwell sourced the financing.
NewPoint Real Estate Capital (“NewPoint”) provided the Fannie Mae loan, which allowed for a large cash out to the borrower, who has owned the asset for three decades. NewPoint’s John DeWitt arranged and structured the Fannie Mae loan. This represents the first closed deal as a result of NewPoint’s correspondent agreement with Matthews™.
The 220-unit community is situated in the well-located Denver suburb of Westminster, CO. There is a strong affordability component at the property, with 100% of the units affordable at 80% of the Area Media Income (AMI) and 23.6% of the units at 50% of AMI.
“We secured a very competitive spread given the strong affordability and low leverage point,” said DeWitt. “Matthews’ expertise in the market helped facilitate this seamless transaction. We look forward to collaborating on future business.”
ABOUT MATTHEWS™ CAPITAL MARKETS
The Matthews™ Capital Markets Division (MCM) is a fully integrated and dedicated financing division of Matthews Real Estate Investment Services™. Matthews™ Capital Markets provides capital solutions ranging from $500,000 to $100 million for all property types across the U.S.
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. Leveraging technology, data, capital, and the expertise of its industry-leading team, NewPoint provides 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 offers proprietary bridge and affordable housing financing, as well as third-party placement solutions.
