NewPoint Real Estate Capital and Morgan Properties have joined forces to offer a suite of products aimed at filling in gaps in the current array of affordable housing finance products. The platform of products they have developed is called NewPoint Impact and it pairs private capital with government-subsidized products to address current needs in this ecosystem, such as new construction or renovation before a project is stabilized, or a bridge to syndication for a tax credit.
Creating products for these scenarios is complex, David Brickman, CEO of NewPoint, tells GlobeSt.com. "You have an intersection of the tax credit program, tax exempt bond financing and municipal finance. It is not just conventional CRE finance."
Ultimately, Jason Morgan, principal and president of Morgan Properties Special Situations, tells GlobeSt.com "we are attempting to solve a need and promote the development and redevelopment of affordable housing in this country."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
