Franklin BSP Closes NewPoint Acquisition, Adding Agency and Mortgage Servicing
New York-based Franklin BSP Realty Trust, Inc. (FBRT) has closed its previously announced acquisition of NewPoint Holdings JV L.L.C. for a total consideration of $425 million. The acquisition expands FBRT’s multifamily operations to include agency and mortgage servicing alongside its existing commercial real estate lending products, which include bridge lending, subordinate lending, construction lending and CMBS.
When the acquisition was announced in March, FBRT president Michael Comparato said, “For years we have been looking to add agency capabilities to the FBRT platform, which already boasts one of the most extensive product offerings in the market.
“We believe this transaction is the final piece to complete our ‘one stop shop’ puzzle and is even more compelling given the strong cultural alignment between the two teams. We’re excited to build on the momentum of this acquisition alongside the NewPoint team, who worked tirelessly in close partnership with us to finalize this deal.”
Pictured: Franklin BSP headquarters at One Madison Ave., Manhattan.
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