Multifamily · HUD
340+ unit multifamily, Texas
Built the HUD 221(d)(4) financing model and investor materials for a new-construction apartment community.
Closed 2025
Redpoint CRE Services
Sponsorship: Empowered
You know the deal works. Now prove it.
We work beside developers and sponsors to structure the debt and equity, build the case investors will approve, and see the project through closing. For lenders and investors, we provide an independent read before you commit.
Lender came in lower than planned? Equity gap to fill? Not sure which structure fits? There's no cost to learn more.
Since 2018
Independent capital advisory
Both sides of the table
Developers, sponsors, lenders and investors
Across asset classes
Multifamily, senior living, hospitality, build-to-rent, master-planned communities, mixed-use and more
Principal-led
Every engagement led by Paul Fay
01 — What we do
What we do
01
Capital structuring
Getting the project financed, with a package lenders and investors will approve.
For developers and sponsors.
Learn more
02
Investment review
A second opinion on a sponsor's deal before your committee votes.
For lenders, LPs and family offices.
Learn more
03
Fractional CIO
A part-time head of capital for developers who don't have one.
For developers without an investments function.
Learn more
02 — Selected work
Selected work
Senior housing
$40mm+ independent living, Gulf Coast
Structured the ground sale-leaseback for a 129-unit community and supported it through construction.
Closed 2021
Hospitality
700+ key hotel repositioning, Mid-Atlantic
Built the model and investor materials for a flag conversion seeking preferred equity.
Delivered 2019
Build-to-rent
~300 home build-to-rent fund, Florida and Texas
Built the fund waterfall and structure, and supported financing of individual tranches.
Delivered
Master-planned
90+ acre mixed-use land, Greater Austin
Underwrote and modeled a 1,600+ unit land assembly through contract.
Delivered 2021
Historic tax credit
~80 unit adaptive reuse, Southeast
Structured the capital stack and built the projections for a historic apartment conversion.
Delivered 2022
GP co-sponsor
24 unit apartment acquisition, Kentucky
Co-sponsored and underwrote the acquisition and led the lender search.
Closed 2023
Capital provider review
Independent underwriting for a capital provider
Independently underwrote multifamily, storage, senior housing and hotel deals, with written credit memos.
Delivered 2019–2020
Examples are anonymized. Details on request.
Discuss a similar project03 — Across the capital stack
From the first dollar of debt to the last dollar of equity
For developers and sponsors. Getting the project financed, with a package lenders and investors will approve.
For lenders, LPs and family offices. A second opinion on a sponsor's deal before your committee votes.
04 — Experience
Experience
Asset types
- Multifamily
- Senior living
- Hospitality
- Build-to-rent and for-sale housing
- Master-planned communities and subdivisions
- Mixed-use
Structures
- HUD 221(d)(4)
- Ground leases and sale-leasebacks
- C-PACE
- Historic tax credits
- Opportunity Zone equity
- Preferred equity and joint-venture waterfalls
Capital sources
- Banks
- Debt funds
- HUD lenders
- C-PACE providers
- Ground-lease investors
- LP and family-office equity
05 — How we work
How we work
- 1
We start from what has to be true for the deal to work, and test that first.
- 2
A model is built to stand up to a credit committee, not to win an argument.
- 3
We tell a sponsor early when a deal doesn't work.
- 4
Every structure is judged on the downside, not the base case.
- 5
We sit on one side of a deal, never both.
06 — Leadership
Paul Fay, Principal
Paul Fay founded Redpoint in 2018 and leads every engagement. His work spans capital structuring, development finance and investment review across multifamily, senior living and hospitality.
Have a project or a decision in front of you?
Tell us a little about it. There's no cost to learn more, and you'll hear back from a real person to set up a short call.