Grandbridge Real Estate Capital recently closed a $7.9 million first mortgage loan secured by Summerview Apartments, a 184-unit garden style multifamily community in Westerville, Ohio.
Grandbridge Columbus, Ohio-based Senior Vice President Craig Kegg originated the refinance transaction. Funding for the fixed-rate loan was provided through Fannie Mae’s DUS® loan program and closed with an interest rate in the mid four percent range, an 11-year term and a 30-year amortization.
The property is comprised of 12 two-story buildings on more than 21 acres.
Amenities include a clubhouse and swimming pool with sundeck and access to Metro Fitness, a local fitness center. All units have electric appliances as well as washers/dryers. Residents also have access to 16 garage buildings.