$50M loan secured for Hillsborough County multifamily complex

Hillpointe, a Winter Park-based firm that built a 10 building apartment complex in Plant City, recently secured a $50 million bridge loan from NewPoint Real Estate Capital. The terms of the deal include a floating rate, interest-only loan to be paid over two years. 

“NewPoint was able to provide exceptional terms early in the lease-up process to help the borrower execute its business plan,” says Trevor Ritter, NewPoint’s managing director who originated the loan, in the statement. 

Hillpointe is a real estate development and investment management firm that specializes in general contracting, materials procurement, property management and capital markets capabilities. 

The company was founded in 2018 by Kelly Mahoney and Steven Campisi. Its portfolio includes 10,000 units of residential and multifamily housing assets in Florida, Georgia and South Carolina, representing over $2 billion in asset value according to a statement from the company. 

NewPoint Real Estate Capital is a Texas-based commercial real estate finance company that provides lending to investors of multifamily, affordable housing, seniors housing, healthcare, and manufactured housing properties nationwide. It has a $54 billion servicing portfolio.