Grandbridge Real Estate Capital recently closed on the permanent refinance of a $9.166 million first mortgage loan secured by a 125-unit apartment project in Plymouth, Minnesota.
The non-recourse loan was provided by agency lender Fannie Mae and featured a 10-year term and very low fixed interest rate.
The refinance allowed the borrower to take advantage of historically low interest rates and significantly reduce its debt service payments. Financing was originated by Minneapolis-based Vice President Tony Carlson
