NewPoint Real Estate Capital LLC, a joint venture between Meridian Capital Group and Barings, announced that it has acquired certain assets of Housing & Healthcare Finance, including its FHA multifamily and healthcare origination business and its loan servicing portfolio. This deal augments NewPoint’s existing HUD lending services and also its healthcare and seniors housing financing capabilities. For HHC Finance, the firm gains the backing of NewPoint’s scale and its own range of services offered, now including a multifamily bridge lending program which was launched earlier this month to provide loans of $5 million to $50 million with terms up to five years. We imagine with the success of the new multifamily bridge lending platform, they will follow that with a healthcare bridge loan product.
In the last decade, HHC Finance has closed approximately $7 billion in HUD loans, making it one of the leading HUD lenders after having spun off from CapitalSource in 2008. Its founders Erik Lindenauer and Rich Lerner will join NewPoint as Co-Presidents of the FHA Housing Business Unit (under NewPoint CEO David Brickman) and lead the integration of HHC Finance’s team of approximately 50 professionals into NewPoint’s existing FHA origination and servicing business.
