Grandbridge Real Estate Capital recently originated and closed a $2.3 million first mortgage acquisition and renovation loan secured by a multi-tenant office building in Wisconsin.
Located in Elm Grove, Wis., the 39,000-square-foot building offers a flexible floor plan, high-traffic visibility, easy access and strong surrounding demographics.
Milwaukee-based Grandbridge vice president Rob Meister arranged the financing through First Business Bank. The loan is a full-recourse, one-year financing that carries a fixed rate of about 5 percent. Meister was assisted by Dean Huber, senior analyst.
