The Minneapolis production office of Grandbridge Real Estate Capital recently originated and closed a $17.25 million first mortgage loan secured by the Flats at West End, a 119-unit Class-A residential community in St. Louis Park, Minn.
The property is scheduled to open in the spring of 2013.
The new-construction financing was originated by Ben Fazendin, a vice president with the Minneapolis office of Grandbridge. The 40-year fixed-rate mortgage loan features a 40-year amortization.
