NewPoint Real Estate Capital provides $49 million bridge-to-agency loan for 288-unit Evolve at the Pines Apartment Homes

Greenville, NC NewPoint Real Estate Capital LLC (NewPoint) has provided a $49 million bridge-to-agency loan for the refinance of Evolve at the Pines Apartment Homes, a 288-unit multifamily property.

The 24-month interest-only loan was tailored to provide the borrower with flexibility during the property’s lease-up period and a smooth transition to an agency takeout.

The loan was originated by NewPoint senior managing director Mike Ortlip on behalf of Evolve Companies, a fully integrated real estate firm specializing in investment, development, construction, and management of multifamily assets across the Southeast.

“NewPoint is proud to support Evolve Companies’ investment in high-quality, energy-efficient multifamily assets like Evolve at the Pines,” said Ortlip. “This financing structure allows the sponsor to optimize cash flow while continuing to deliver modern, sustainable housing options to residents in Greenville,” he added. 

Evolve at the Pines Apartment Homes is a brand-new, Bronze Star-certified energy-efficient community situated near East Carolina University. The 288-unit property features modern apartment homes and resort-style amenities including a saltwater pool, fitness center, clubhouse, dog park, and EV charging stations, with access to shopping, dining, entertainment, and major thoroughfares.