Phoenix & Southwest + Phoenix + Finance | April 11, 2022

NewPoint Real Estate Capital arranged approximately $158 million to refinance four Bard Investment Company apartment properties, including Villagio in Tempe, AZ

NewPoint Provides $158M Refi on Phoenix-Area Portfolio

NewPoint Real Estate Capital LLC has provided $157,920,000 in Freddie Mac loans on behalf of Bard Investment Company for the refinancing of a four-property multifamily portfolio in the Phoenix area. The conventional garden-style apartment complexes include the 472-unit Villagio in Tempe, the 200-unit Chandler Meadows in Chandler and the 222-unit Stonegate and 201-unit Fiesta Village, both located in Mesa.

The four 10-year Freddie Mac loans were originated by NewPoint executive managing director Jay Blasberg and managing director Jarett Blasberg.

“Our client was able to pull out a substantial amount of built-up equity while locking in 10-year interest only payments at historically low interest rates within a few days of application,” said Jay Blasberg. “Bard Investment Company has been adding value to the assets over time through unit renovations and common area upgrades. They are outstanding operators, and the properties were in sterling condition.”

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Inside The Story

NewPoint's Jay Blasberg

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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