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NewPoint provides $17.75M bridge-to-HUD loan for the acquisition of multifamily property in Somerset

Summary by ROI-NJ
NewPoint Real Estate Capital provided a $17.75 million bridge-to-HUD loan to facilitate the acquisition of Brentwood Park, a 77-unit multifamily property located in Somerset for a sponsor with strong multifamily operating and development experience in the area. NewPoint’s Matthew Meskill originated the floating-rate, interest-only bridge loan, which features a two-year initial term. “NewPoint’s Bridge financing provided the sponsor with an excel…
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