Bayport Funding, a direct private bridge lender for real estate developers, has closed on a $200 million senior credit facility from Webster Business Credit, a division of Webster Bank and the lead syndication agent in the transaction.
The financing builds on Bayport’s significant resources, as well as a 10-year relationship with Webster, Bayport said. The company is now announcing its expansion as a national provider of bridge financing for a full range of projects, including multifamily, mixed-use, SFR, ground-up construction, rehab and renovation and fix-and-flip, among others.
“The credit facility with our long-time partner Webster is integral to our strategy of broadening our geographic footprint and increasing the size of the projects we lend to,” said Marcia Kaufman, chief executive officer, Bayport Funding.
Webster previously supported Bayport’s East Coast expansion with a credit facility in 2023. This new funding will platform a nationwide scope for Bayport’s reach, as well as empower the firm to support larger multifamily and mixed-use developments.
“Webster Bank is pleased to continue to support Bayport Funding, LLC, a long-time client of the Bank, with the latest upsize of their credit facility to $200 million,” said Peter Donahue, Managing Director, Webster Bank. “This will provide the bandwidth needed to continue to grow their business. With their disciplined approach to financing residential developers, Bayport provides a much-needed product in the markets that they serve.”
