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TAMPA, FLA. — Newmark has arranged $215.8 million in bridge financing for a five-property multifamily portfolio in Florida. Matthew Williams, Rob Wright, James Maynard and Kyle Schlitt of Newmark arranged the construction takeout financing through Benefit Street Partners on behalf of the borrower, Waypoint Residential.
The 1,274-unit portfolio comprises newly constructed properties in Vero Beach, Port St. Lucie, Palm Bay, Davenport and Gainesville.