Grandbridge Real Estate Capital recently closed a large loan secured by a leasehold mortgage in Indianapolis. Lockefield Gardens, a 493-unit community and clubhouse, is located on the campus of Indiana University-Purdue University Indianapolis in Indianapolis.
Grandbridge Indianapolis-based senior vice president Ed Chandler originated the transaction.
Funding for the permanent, fixed-rate loan featured a 10-year term, 30-year amortization and an initial period of interest-only.
