Meridian Capital Group and Baring unveiled the name and gave more details about their multifamily financing venture called NewPoint Real Estate Capital.
David Brickman will lead the new platform as CEO. Brickman joins NewPoint from Freddie Mac, where he was the CEO and increased annual production from $16 billion in 2010 to nearly $80 billion in 2018. Jeff Lee will serve as president of NewPoint, leaving a position as EVP of multifamily lending at Beech Street Capital, a firm that he co-founded in 2009 and sold to Capital One in 2013.
In 2020, Meridian closed $40 billion of financing including $28 billion in multifamily financing, and the firm's chairman and CEO Ralph Herzka and president Yoni Goodman is charting the NewPoint's growth trajectory.
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