**Franklin BSP Closes NewPoint Acquisition, Adding Agency and Mortgage Servicing**
Franklin BSP Realty Trust Inc. (FBRT), a New York-based real estate investment trust, has completed its previously announced acquisition of NewPoint Holdings JV L.L.C. The transaction, valued at $425 million, significantly expands FBRT’s multifamily real estate operations by introducing agency lending and mortgage servicing to its portfolio. FBRT’s existing commercial real estate offerings include bridge loans, subordinate lending, construction financing, and commercial mortgage-backed securities (CMBS).
When the acquisition was first announced in March, FBRT president Michael Comparato commented on the strategic importance of the deal. “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,” said Comparato.
“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 Realty Trust headquarters at One Madison Avenue, Manhattan.*
