Tony Carlson, with Minneapolis-based Grandbridge Real Estate Capital, recently closed a $1.33 million loan for the refinance of a retail property in Rochester, Minnesota.
Funding for the loan was provided through one of Grandbridge’s correspondent life insurance company relationships. The transaction featured a 10-year term and 20-year amortization, and closed with a low fixed interest rate.
The loan allowed the borrower to refinance its existing debt while providing cash-out to the ownership group.
