WASHINGTON, D.C. — NewPoint Real Estate Capital, a Washington-based lender, has expanded its financing offerings to include seniors housing agency loans.
The expansion comes as NewPoint has been designatnated as an approved Fannie Mae seniors housing lender and Freddie Mac Optigo seniors housing lender.
NewPoint’s seniors housing agency platform offers fixed- and floating-rate loans with interest-only options and a variety of prepayment structures. Eligible properties include independent living, assisted living and memory care facilities, as well as facilities with a limited amount (maximum 20 percent of NOI) of skilled nursing. Terms range from five to 10 years, with up to 30 years for fixed-rate loans.
“The demographic drivers we’ve been hearing about for years are materializing in a major way, and we are seeing an increased emphasis on the desire to age in place,” says Geri Borger Urgo, NewPoint’s head of production.
In May of 2022, NewPoint formed its seniors housing agency platform to supplement its existing HUD/FHA-focused seniors housing and healthcare financing capabilities. NewPoint hired Sean Huntsman and Katherine Stewart, who brought a combined 50 years of agency lending experience to the firm. NewPoint established a larger borrower network and originations platform serving the healthcare space with its acquisition of HHC Finance in the fourth quarter of 2021.