The Milwaukee office of Grandbridge Real Estate Capital recently originated and closed a $22 million first mortgage loan secured by Hidden Oak Estates, a 324-unit multi-family community located in Pleasant Prairie, Wis.
Freddie Mac purchased the fixed-rate refinance loan under its Capital Markets Execution (CME) loan program and Early Rate-Lock (ERL) delivery with an interest rate in the low 4 percent range and a 10-year term amortized over 30 years.
Hidden Oak Estates is located in the Milwaukee MSA. The 33-acre community features nine three-story buildings with a mix of one-, two-, and three-bedroom units. Each building has heated underground parking. Amenities include a heated pool, clubhouse, volleyball and basketball courts, and a fitness center with tanning bed.
Grandbridge senior vice president Jim Cope and vice president Debe Storts originated the transaction.