Newmark Arranges $45.9 Million in Federal Housing Administration Financing for Two Class A Multifamily Communities in Grand Junction

Newmark has arranged approximately $45.9 million in Federal Housing Administration-insured financing for two recently developed Class A multifamily communities in Grand Junction, Colorado, the firm announced Aug. 20, 2026.

Kelley Klobetanz, Executive Managing Director and Head of FHA Production & Operations at Newmark, structured the HUD Section 223(f) financings on behalf of the borrowers. The two properties — Nexus Apartments, a 122-unit community at 687 24½ Road, and The Eddy Apartments, a 96-unit community at 347 Eddy Drive — together represent 218 units of Class A rental housing in the Grand Junction market.

Deal Structure and FHA Financing Terms

Both transactions were structured under the HUD Section 223(f) program, which provides long-term, fixed-rate, non-recourse financing for the acquisition or refinancing of stabilized multifamily properties. The combined $45.9 million in proceeds works out to approximately $210,550 per unit across the two-property portfolio.

"HUD continues to improve its underwriting efficiency while offering competitive proceeds that can exceed conventional financing alternatives," Klobetanz said. "These financings highlight the strength of the FHA platform and its ability to provide attractive, long-term financing solutions for quality multifamily communities."

Four Points secured the refinancing on the two Grand Junction rental assets, converting shorter-term debt into HUD-backed permanent financing on recently stabilized properties.

Property Details: Nexus Apartments and The Eddy Apartments

Nexus Apartments, completed in 2024, is a three-story, market-rate community comprising a mix of walk-up apartment buildings and townhome-style residences. The property offers one- to three-bedroom units ranging from approximately 636 to 1,355 square feet, with asking rents between roughly $1,550 and $2,705 per month. Interior finishes include stainless steel appliances, quartz countertops and in-unit laundry. Community amenities include a clubhouse, lounge, game room, community garden, barbecue area and outdoor gathering spaces. Griffis/Blessing manages the property. Nexus is located near Canyon View Park in northwest Grand Junction, with proximity to Interstate access and major retail corridors.

The Eddy Apartments, completed in 2022, is a three-story, market-rate community situated along the Colorado River at 347 Eddy Drive. The 96-unit property offers one- and two-bedroom apartments across six floor plans and is fully occupied. Residents have direct access to the riverfront trail system connecting to Las Colonias Park. The property operates under a shared-use agreement with the adjacent Camp Eddy RV and glamping park, providing residents access to a clubhouse, fitness center, community room and outdoor patio. The Eddy is located within an Opportunity Zone near downtown Grand Junction and was developed with involvement from the Arctaris Impact Fund as a workforce housing initiative.

Both communities are located within minutes of downtown Grand Junction and major retail, healthcare and entertainment destinations, with access to the region's outdoor recreation, national parks and wine industry.

Market Context: Multifamily Fundamentals and Secondary Markets

According to Newmark Research, multifamily fundamentals remain supported by sustained renter demand and improving supply dynamics. National apartment absorption totaled more than 303,000 units over the past year — approximately 40% above the long-term average — while new deliveries have moderated significantly from recent peaks. Elevated homeownership costs continue to reinforce apartment demand, with owning a home costing more than $1,000 per month above renting on average during the first quarter of 2026.

The HUD 223(f) program's ability to provide non-recourse, long-term fixed-rate debt at proceeds that can exceed conventional alternatives has made it an increasingly relevant tool for sponsors seeking to lock in permanent financing on newly stabilized properties.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisory and services firm serving institutional investors, global corporations and lenders. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of that date, Newmark and its business partners operated from over 195 offices with more than 10,000 professionals across four continents.