Newmark Launches Multifamily Bridge Lending Program With $35M Georgia Loan

Newmark has launched a debt and structured finance program that will provide short-term bridge loans on multifamily properties. The brokerage says the program could eventually position the firm as an agency lender through Fannie Mae and Freddie Mac, as bridge debt would move closer to securitized agency lending.

The first loan from the program is a $35 million bridge loan to MFP Capital to refinance Independence Place, a 264-unit multifamily property at 1300 Independence Place Drive in Hinesville, Georgia. Newmark's Henry Stimler, Bill Weber and Ricky Warner originated the debt. The property, roughly 40 miles southwest of Savannah, offers one- to four-bedroom units along with a swimming pool and fitness center.

Sharon Karaffa, Newmark's president of multifamily debt and structured finance, said the program is meant to give clients greater flexibility and continuity across the financing lifecycle. The launch expands the firm's debt offerings beyond permanent financing into short-term capital.

For developers and owners of multifamily assets, the program adds another short-term financing source, and a path toward agency execution could matter for borrowers planning refinancings and exits.