Newmark Provides $35 Million Bridge Loan For MFP Capital's Independence Place In Hinesville GA

This transaction involves Independence Place, a 264-unit apartment community located at 1300 Independence Place Drive in Hinesville, Georgia. The property falls within the multifamily asset category and has received a bridge loan of $35 million, marking a significant financing effort from Newmark for the project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,000,000
• Lender: Henry Stimler, William Weber, Ricky Warner - Newmark
• Landlord: MFP Capital
• Loan Type: Bridge
• Note: This loan represents the first financing under Newmark's Multifamily Bridge Program, structured as an interest-only, adjustable-rate loan designed to provide short-term capital.

The key individuals involved in this transaction include Henry Stimler, William Weber, and Ricky Warner, who represent Newmark in the lending process. Their role has been crucial in facilitating this loan to MFP Capital for the multifamily asset.