Hillpointe Secures $50 Million Bridge Loan From NewPoint Real Estate Capital For Multifamily Asset

The property asset involved in this transaction is a multifamily development consisting of 300 units located at 3021 Bush Row Loop in Plant City. This newly built apartment complex is structured across 10 buildings.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Lender: Trevor Ritter - NewPoint Real Estate Capital
• Landlord: Kelly Mahoney & Steven Campisi - Hillpointe
• Loan Type: Bridge
• Loan Terms: Floating-rate, interest-only
• Market: Plant City
• Units: 300

The loan was secured by Hillpointe from NewPoint Real Estate Capital, aimed at supporting the lease-up strategy for the apartment complex. The terms of the loan stipulate that it is a floating-rate, interest-only arrangement to be repaid over a two-year period.