NewPoint Real Estate Capital LLC (“NewPoint”) has provided a $50 million lease-up bridge loan to Hillpointe, LLC for the recently completed Pointe Grand Plant City in Plant City, Florida. The two-year, floating rate, interest-only loan was originated by NewPoint Managing Director Trevor Ritter.
“NewPoint was able to provide exceptional terms early in the lease-up process to help the borrower execute its business plan,” said Ritter.
Community amenities at Pointe Grand Plant City include a resort-style swimming pool with private cabanas, 24-hour fitness center, clubhouse with coffee and tea bar, a business center with conference room, picnic area with barbecue grills, community firepit, bark park with agility equipment and pet spa, and electric vehicle charging stations. Plant City is situated between Lakeland and Tampa in West Central Florida.
Hillpointe is a fully integrated real estate development and investment management
firm focused on the development of market-rate workforce housing across the Sun Belt.
The firm ranks among the top 10 in the National Multifamily Housing Council’s Top 25
Developers and Top 25 Builders.
NewPoint Real Estate Capital LLC (NewPoint) is a prominent commercial real estate
nance company delivering lending solutions to investors of multifamily, affordable
housing, seniors housing, healthcare, and manufactured housing properties nationwide.
