NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator based in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals.
Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties across the nation. The company operates as both a direct lender and third-party placement provider.
NewPoint, through its wholly owned subsidiary NewPoint Real Estate Capital LLC, is one of 19 multifamily originators and servicers approved to make loans on behalf of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development. The acquisition will now allow Franklin BSP Realty Trust to originate agency mortgage loans.
The deal will also facilitate an exit strategy for the REIT’s multifamily bridge loan portfolio, which represents 71 percent of the company’s holdings, and broadens Franklin BSP’s market reach to new business lines and geographic footprints.
Franklin BSP Realty Trust intends to finance the acquisition through a combination of existing cash and issuance of debt and equity. The company will operate the acquired business through a taxable REIT subsidiary.
Barclays served as financial advisor to Franklin BSP Realty Trust, while Hogan Lovells US LLP and Reed Smith LLP served as its legal counsel. BofA Securities Inc. served as financial advisor to NewPoint. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the company’s legal counsel. Terms of the transaction were not released.
Franklin BSP Realty Trust is headquartered in New York City. The company had approximately $6 billion of assets under management as of Dec. 31, 2024. The REIT is externally managed by Benefit Street Partners LLC, a wholly owned subsidiary of San Mateo, California-based Franklin Resources Inc. The company’s stock price closed on Monday, March 10 at $13.30 per share, up from $12.94 a year ago.