Bayport Funding secures expanded $200m credit facility from Webster Bank

Great Neck, NY Bayport Funding 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 successful, 10-year relationship with Webster. In that time, Bayport has continued to grow prodigiously and is now announcing the firm’s 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. Webster previously supported Bayport’s East Coast expansion with a credit facility in 2023. This new funding will platform a truly nationwide scope for Bayport’s reach, as well as empower the firm to support larger multifamily and mixed-use developments.

Amid a cautious macro lending environment, Bayport Funding occupies an advantageous position to help developers and investors across the country progress their residential and multifamily projects, and bring their business plans to fruition. The demand for high-quality housing remains extraordinarily high across markets, from gateway cities to secondary and tertiary metros to small towns, and access to agile financing is paramount to meeting that demand. 

“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. “We’re grateful to Webster for their continued support and look forward to helping our current and future borrowers deliver their development projects.”

“Our partnership with Webster reinforces our mutual commitment to furthering our platform’s growth while also staying responsive to our base of developer clients and the broader housing market,” said Ami Bar-Mashiah, chairman, Bayport Funding. 

“Bayport has continued to serve developers by working closely with our borrowers, and our collaborative approach has enabled us to support them as they expand into larger and more diversified asset types. We look forward to what our enhanced credit facility with Webster will accomplish with both existing and new borrowers,” said Jane Gol, principal, Bayport Funding.

“There is a nationwide demand for bridge capital to meet housing and commercial needs across markets. Bayport is now even more advantageously positioned to grow and help more developers meet the real estate needs of their local communities,” said Amir Chaluts, principal, Bayport Funding. 

“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. We look forward to continuing to serve their banking needs in the years to come.”