Grandbridge Real Estate Capital recently closed a $4.2 million first mortgage loan secured by a 109-unit apartment property in Minneapolis.
Tony Carlson with Grandbridge closed this refinance transaction.
Funding for the loan was provided by a local bank and featured a five-year term, 20-year ammortization and a fixed interest rate in the mid-3-percent range. The loan comes out to less than $40,000 a unit.
