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NewPoint Provides $51 Freddie Mac Loan for New Community in Kissimmee
NewPoint Real Estate Capital has provided a $50.7-million conventional Freddie Mac Multifamily loan on behalf of an affiliate of American Landmark, LLC, to refinance Reunion at 400, a 288-unit community located in Kissimmee, FL.
The 10-year fixed-rate loan was originated by Marc Cesare of NewPoint and features six years of interest-only payments. Loan proceeds were used to pay off a bridge loan that was set to mature in June 2023.
“We utilized an Index Lock to provide American Landmark – a seasoned Freddie Mac select sponsor – with the ability to secure advantageous pricing during a particularly volatile 60-day period for Treasuries,” said Cesare.
Built in 2020, Reunion at 400 is off SR-429 in Kissimmee approximately five miles south of Walt Disney World and 20 miles southwest of Downtown Orlando.
American Landmark manages over $5 billion in multifamily properties and its portfolio consists of approximately 30,000 units.
- ◦Financing
