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MissouriCRE

Grandbridge Real Estate Capital closes $11.6 million loan for 12-building apartment complex in Missouri

Staff Writer April 4, 2017
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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.

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