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RALEIGH, N.C. — NewPoint Real Estate Capital has provided a $58 million Freddie Mac loan for the refinancing of an apartment community located in the greater Raleigh area. Built in two phases, the unnamed property comprises 400 residences in a mix of one-, two- and three-bedroom units. Amenities at the community include a swimming pool with a splash pad and outdoor cabanas, 24-hour fitness center, game room, business center, playground, pet park, grilling areas and an outdoor multi-sport court.
Mike Ortlip of NewPoint originated the fixed-rate loan, which features a five-year term with full interest-only payments. The borrower was not disclosed.