Newmark Arranges $369 Million Fannie Mae Facility for April Housing

Newmark Group, Inc. arranged a $369 million Fannie Mae credit facility for April Housing to support a portfolio of 11 affordable housing properties in Florida. The financing is structured as an interest-only facility, consisting of a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw.

The transaction involved the review of 24 separate regulatory agreements and included a buydown on the fixed-rate portion to maximize proceeds. April Housing intends to use the funds to ensure long-term affordability across the affected communities.

Evan Williams, Vice Chairman of Newmark Group, Inc., led the transaction. He stated that the execution of the financing reflects the strength of the relationship between Newmark, April Housing, and Fannie Mae, as well as the team's ability to handle complex transactions under demanding timelines.