Grandbridge Real Estate Capital recently originated and closed a $10.3 million first mortgage loan secured by Lincoln Ridge Apartments in Madison, Wis.
Amenities at the 248-unit apartment community include a swimming pool, tennis courts and clubhouse with fitness center.
Milwaukee-based Grandbridge senior vice president Jim Cope and vice president Debe Storts arranged the financing. Funding for the refinance transaction was provided through Lincoln National Life Insurance Company.
The 10-year forward-rate-lock mortgage closed with an interest rate in the mid-5-percent range.
