Grandbridge Real Estate Capital recently closed $3.8 million and $5.1 million first mortgage loans secured by two multifamily properties in the St. Cloud, Minnesota, MSA.
The refinances were originated by Minneapolis-based vice president Tony Carlson.
The non-recourse loans, funded through one of Grandbridge’s life insurance company correspondents, featured 15-year terms with a 15-year amortizations. The loans closed with a low fixed interest rate in the low 3 percent range.
Grandbridge successfully worked with the borrower and lender to structure a transaction that met the repeat borrower’s specific needs.
