NewPoint Real Estate Capital Funds $105M Loan for Multifamily Acquisition in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — NewPoint Real Estate Capital has provided a $105 million bridge loan to facilitate the purchase and lease-up of SeventyOne15 McDowell, an apartment community in Scottsdale. John DeWitt of NewPoint originated the financing, which features a two-year, interest-only loan term with three one-year extension options.

Built in 2022, SeventyOne15 McDowell features 274 apartments, a swimming pool with private cabanas, rooftop lounge with fire pits, two-story fitness center, electric vehicle charging stations, direct access parking garage and a clubhouse with a kitchen, billiards and lounge seating. Units feature smart-home access and thermostats, pendant lighting, washers and dryers, gourmet kitchens, wine fridges and walk-in closets in select units.

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