Newmark Arranges $369 Million Fannie Mae Credit Facility for April Housing's Florida Affordable Portfolio

Newmark Group, Inc. (Nasdaq: NMRK) announced Oct. 19 that it has arranged a $369 million Fannie Mae credit facility on behalf of April Housing, supporting the long-term preservation of an 11-property affordable housing portfolio located throughout Florida.

Fannie Mae Credit Facility Structure

The financing consists of a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw, structured as an interest-only facility through Fannie Mae. The split represents roughly 60% fixed-rate and 40% floating-rate debt. A buydown on the fixed-rate portion of the facility was used to help maximize proceeds and support the overall financing strategy, Newmark said.

Newmark Vice Chairman and Head of Affordable Housing Debt & Structured Finance Evan Williams arranged the financing on behalf of April Housing. Senior Managing Director Ian McIntire, Director Seante Vang and Analyst Nicole Phillips also supported the assignment. Affordable Housing Debt & Structured Finance and Capital Markets are part of Newmark's Investor Solutions services.

Regulatory Complexity Across 11 Properties

The transaction involved the review and analysis of 24 separate regulatory agreements across the 11 properties, along with a swift turnaround from application to closing, according to Newmark. The number of agreements suggests the collateral carries multiple layers of affordability restrictions and compliance requirements, rather than resembling a conventional market-rate apartment portfolio.

"The successful execution of this financing reflects the strength of our relationship with April Housing and Fannie Mae, as well as our team's ability to navigate complex affordable housing transactions under demanding timelines," said Williams. "Through a highly coordinated effort, we delivered a customized structure that supported proceeds, addressed extensive regulatory requirements and helped position these communities for long-term affordability."

Naveen Agrawal, Senior Vice President of Capital Markets at April Housing, said, "By financing with a best-in-class credit facility from the Fannie Mae and Newmark teams, April Housing is able to ensure long-term affordability at these communities. We are grateful for our continued collaboration and support from both Fannie Mae and Newmark."

April Housing's Florida Preservation Activity

April Housing is a Blackstone-affiliated owner and preservation platform for affordable housing. The company says it has completed the preservation of more than 3,650 affordable homes nationwide since 2024, including more than 700 in Florida over the last year. April Housing also reports that it owns and operates more than 12,800 affordable units across 14 Florida counties, including more than 4,100 units in Miami-Dade County.

The properties in the financed portfolio are located throughout Florida. Separate coverage describes April Housing assets in Miami, Jacksonville and Tampa.

Market Context

The facility illustrates how affordable housing owners are using agency debt to refinance and preserve regulated housing. The combination of fixed-rate and floating-rate draws gives April Housing different forms of debt exposure, while the fixed-rate buydown was designed to increase proceeds within the transaction's regulatory and underwriting constraints.

The Newmark announcement follows a separate Berkadia announcement of $366.1 million in Fannie Mae financing for an April Housing Florida portfolio described as containing 13 properties, including garden-style communities in Miami, Jacksonville and Tampa. The differing property counts and loan amounts may reflect separate facilities or different collateral groupings.

Newmark, which generated revenues of more than $3.6 billion for the twelve months ended June 30, 2026, together with its business partners operates from over 195 offices with more than 10,000 professionals across four continents.

Sources

• Newmark Group, Inc. press release via PR Newswire: Newmark Arranges $369 Million Fannie Mae Credit Facility for April Housing Florida Portfolio