NewPoint Real Estate Capital has announced the launch of NewPoint Impact, a proprietary affordable housing lending platform that “pairs private capital with government-subsidized products to deliver an innovative set of next-generation affordable housing solutions.”
The firm is partnering with Morgan Properties, one of the largest multifamily owners in the country, on the new initiative.
Under the leadership of Rob Wrzosek, who was recently elevated to president, affordable strategies, at NewPoint, the firm’s affordable housing team will work closely with its originators and mortgage broker partners to offer a suite of NewPoint Impact products that provides affordable housing developers with a range of solutions from construction loans to long-term permanent financing. Financing amounts start at $8 million and are available to both for-profit and nonprofit 501(c)(3) developers, with terms ranging from two to 40 years, depending on the execution, said the company.
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