Grandbridge Real Estate Capital recently closed a $13.1 million first mortgage loan secured by a three-building medical office portfolio located in Minneapolis/St. Paul.
Grandbridge Minneapolis vice president Ben Fazendin and assistant vice president Brett Olson arranged the financing through one of Grandbridge’s bank relationships.
The strategic refinance structure allowed the borrower to refinance two of the properties and acquire the third property in the portfolio. Grandbridge successfully worked with the borrower and lender to structure a transaction that met the borrower’s investment objectives and closed the loan in 45 days to meet the acquisition timeline.