Grandbridge Real Estate Capital recently closed a $12.8 million first mortgage loan secured by an 86-unit multi-family property in Golden Valley, Minn.
Tony Carlson, Minneapolis-based vice president for Grandbridge, originated the loan.
Funding for the fixed-rate loan was provided by a life insurance company, and featured a 20-year term, 25-year amortization. The loan came with a fixed interest rate in the mid-4-percent range.
The class-A condo property is 100-percent occupied.