Finance W Minnesota

Grandbridge Real Estate Capital provides $7 million loan for Minnesota apartment community

  

Grandbridge Real Estate Capital recently closed a $7.1 million first mortgage loan secured by a 72-unit apartment community in Moorhead, Minnesota.

Tony Carlson and Jeff Witt with Grandbridge originated the loan.

Funding for the fixed-rate loan was provided by one of Grandbridge’s life insurance company correspondents an dfeatured a non-recourse 15-year term, 30-year amortization and low fixed interest rate.