Grandbridge Real Estate Capital recently closed an $11.66 million transaction in which the company provided both the acquisition debt and equity capital for the borrower. The loan is secured by Summerset Apartments, a 12-building, 280-unit multi-family property in Independence, Mo.
Joe Platt, a senior vice president in the Kansas City office of Grandbridge, originated the loan. Structured with a three-year term on a 22-year amortization schedule, debt on the loan was provided by one of Grandbridge’s commercial bank lenders.
