JP Newman
Principal
Thrive FP

In 2005, JP expanded the presence of Thrive FP LLC (formerly known as Principals Capital Funding) from Los Angeles, California to Austin, Texas, recognizing the long-term solid fundamentals in the Texas economy.

His first joint venture project in Austin was to arrange the Mezzanine financing for the development of one of the largest climatized storage projects in the country, Secured Climate Storage.

Identifying the shrinking credit market early, JP launched First Capital Funding, LLC in 2007 as a private money lender, arranging hard/private money loans throughout Texas. In 2009, JP together with Adrian Lufschanowski, had early identified the growing demand for multifamily housing in Texas and began acquiring a portfolio of 8,000+ units with several strategic operating partners totaling over $700 million in assets. In only 24 months, they had generated in excess of 10% cash flow returns across the Thrive portfolio, plus strong profits based on the physical and economic improvements that had been created. After successive years of above industry average returns, JP and Adrian rebranded the company to Thrive FP LLC to better reflect their efforts of creating great apartment communities for their tenant-customers, while maintaining solid profits for their investors. In 2015, they also rebranded the hard money loan side of the business. Thrive Lending has become one of the most preeminent real estate lending companies in Central Texas, successfully funding over $100 million in loans.

JP is a licensed broker in California. He was President of CCIM’s Central Texas Chapter in 2010, leading over 270 local members. A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate and must pass all of the courses and transaction requirements, as well as a comprehensive final exam. Of the more than 150,000 commercial real estate professionals in the United States, only an estimated 6 percent hold the CCIM designation. JP is a graduate of the University of California, Los Angeles (UCLA) and is an avid mountain biker and boater. He and his wife, Janet, enjoy spending quality time with their two boys.