NewPoint Provides $45 Million to Refinance 300-Unit Community in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — NewPoint Real Estate Capital has provided a $45 million lease-up bridge loan to refinance a recently completed 300-unit community in Charlotte. Mike Ortlip of NewPoint originated the floating-rate, interest-only bridge loan, which features a two-year initial term. The borrower is an undisclosed North Carolina-based development firm. The property offers a mix of one-, two- and three-bedroom apartments. Amenities include a pool, grilling pavilion, fitness center with a yoga and spinning room, a billiards room and a dog park.

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