MFP Capital Secures $35 Million Bridge Loan From Newmark for 264-Unit Independence Place in Hinesville, Georgia
Newmark has provided a $35 million bridge loan to MFP Capital for Independence Place, a 264-unit multifamily community in Hinesville, Georgia, the firm announced Oct. 20. The interest-only, adjustable-rate loan is the inaugural financing under Newmark's newly launched Multifamily Bridge Program.
Newmark Capital Markets Strategies Vice Chairmen Henry Stimler and Bill Weber and Managing Director Ricky Warner originated the financing. MFP Capital is identified in the announcement as the sponsor.
Loan Terms and Structure
The $35 million loan carries an interest-only payment structure and an adjustable rate. Based on the 264 units cited in Newmark's announcement, the loan equates to roughly $132,576 per unit. Using the property's reported building area of 257,304 square feet, the loan amounts to approximately $136 per square foot.
The interest-only, adjustable-rate structure is consistent with transitional financing. It can reduce initial debt-service requirements while a property is repositioned, but it leaves a borrower exposed to changes in short-term interest rates.
Newmark's Multifamily Bridge Program
Newmark said its Multifamily Bridge Program provides short-term financing for qualifying multifamily borrowers seeking to transition into permanent financing through Fannie Mae, Freddie Mac or FHA lending programs. The loans are originated and serviced directly by Newmark, and the program is designed to address interim capital needs while providing a path to long-term agency financing.
"The introduction of our Multifamily Bridge Program represents an important expansion of our debt and structured finance solutions, strengthening our ability to support clients throughout the financing lifecycle," said Sharon Karaffa, President of Multifamily Debt & Structured Finance at Newmark. "By integrating short-term bridge financing with our established agency lending capabilities, we can provide greater flexibility and continuity as clients execute their long-term financing strategies."
The structure gives a sponsor time to pursue leasing, renovation or operational initiatives before moving into long-term agency debt.
Independence Place in Hinesville, GA
Independence Place is located at 1300 Independence Place Drive in Hinesville, Georgia. The garden-style community was built in 2008 and offers one- through four-bedroom residences, with floor plans ranging from approximately 600 to 1,270 square feet. Newmark said the community features renovated apartment interiors and amenities that include a swimming pool, 24-hour fitness center and clubhouse.
The property is located near Fort Stewart, one of the region's major employment centers, as well as nearby retail, dining and recreational amenities. The community also provides connectivity to the greater Savannah metropolitan area. The property's mix of one- to four-bedroom units is suited to military households and other households seeking larger units.
Current online asking rents range from roughly $1,630 for a one-bedroom unit to approximately $1,825 to $1,915 for four-bedroom units. Asking rents are not effective rents or achieved revenue.
Property History
The property was renovated in 2010, according to property listing records. A prior owner has said it purchased the property in 2019, carried out an operational overhaul and value-add renovation program, and sold it in 2021 after reaching full occupancy. An earlier marketing listing reported average occupancy of 87%, a figure that does not reflect current occupancy.
Public property listings differ on the unit count, citing 289 and 292 units. This article uses the 264-unit figure from Newmark's announcement of the financing.
Market Implications
The transaction reflects Newmark's push to offer multifamily debt across the full financing lifecycle, from transitional bridge capital to permanent agency execution. For MFP Capital, the loan provides interim capital for a property with a military-driven tenant base ahead of a potential move into longer-term agency debt.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisor and service provider to institutional investors and other owners, global corporations and other occupiers, and lenders. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of June 30, 2026, Newmark and its business partners together operated from over 195 offices with more than 10,000 professionals across four continents.
Sources
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