Meridian Capital and Barings launch new lending platform

David Brickman, CEO, NewPoint Real Estate. Image courtesy of Meridian Capital Group

Commercial mortgage broker Meridian Capital Group and investment manager Barings have launched NewPoint Real Estate Capital, a multi-family lending platform led by former Freddie Mac CEO David Brickman.

The new platform is the result of Meridian and Barings’ now complete acquisition of Barings Multifamily Capital LLC, a deal that was first announced in January. At the time, Meridian said it would own the majority of the newly created platform, which would operate as a stand-alone business under its own name and brand.

Brickman, who joined Meridian as executive chairman in January, is the CEO of NewPoint, leading the joint venture’s dedicated leadership team. Real estate finance veteran Jeff Lee, co-founder of Beech Street Capital, holds the title of chairman of the new platform. Meridian Chairman and CEO Ralph Herzka and Chairman Yoni Goodman will work closely with Brickman and Lee to guide NewPoint’s strategic growth, according to a statement.

NewPoint will use ‘innovative and efficient’ methods to create and execute multi-family loans, leveraging technology as well as the combined strengths of Meridian’s industry relationships and Barings’ lending and asset management capabilities , the companies said.

Jeff Lee, President, NewPoint Real Estate. Image courtesy of Meridian Capital Group

Meridian, one of the nation’s leading commercial real estate finance advisers, closed approximately $ 40 billion in financing, including $ 28 billion in multi-family financing last year. The company’s majority stake in NewPoint is likely to grow over time, and the new joint venture will be governed by a board of directors majority controlled by Meridian, the company said in an earlier statement.

Brickman joined Freddie Mac in 1999 and was appointed CEO of the government-sponsored company in 2019. He was also a long-time head of Freddie Mac’s Multifamily, a role in which he increased annual production by 16 billion dollars in 2010 to almost 80 dollars. billion eight years later. Brickman is a senior advisor to private equity firm Stone Point Capital LLC in addition to his roles at NewPoint and Meridian.

Lee co-founded Beech Street Capital in 2009 and served as the company’s executive vice president, overseeing multi-family loans, following its acquisition by Capital One in 2013.

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