NewPoint Refis New Jersey Apartments With $24M Loan

Oxford Group has secured $24 million of agency-backed debt to refinance a New Jersey multifamily asset near Rutgers University, Commercial Observer has learned.

NewPoint Real Estate Capital supplied the five-year, Freddie Mac-backed loan for Oxford’s Treetops Apartments property in Highland Park, N.J.

Meridian Capital Group’s David Cohen arranged the transaction. The deal marks another step in the brokerage’s comeback on the agency lending front, nearly two years after Freddie Mac and Fannie Mae restricted Meridian-brokered financings in November 2023 after a loan it negotiated was called into question. 

“NewPoint delivered an excellent set of terms,” Cohen said in a statement. 

Meridian’s first agency loan in June since the ban was lifted also involved NewPoint. That deal involved a $173.1 million Freddie Mac-backed loan for investor Rubin Schron to refinance the Monterey luxury apartment building on Manhattan’s Upper East Side.

Treetops Apartments, at 100 Cedar Lane in Middlesex County, less than a half mile from Rutgers’ main campus, is garden-style apartment complex consisting of 216 units, with 156 one-bedroom apartments and 60 two-bedroom layouts. Community amenities include an outdoor pool and tennis courts.

Oxford Group and NewPoint did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.