Grandbridge Real Estate Capital recently closed a $21 million first mortgage loan secured by a 98-unit, 208-bed student-housing property near the University of Minnesota Rochester in downtown Rochester, Minn.
Tony Carlson with Grandbridge originated the transaction.
Funding for the loan was provided by Barclay’s Capital and featured a 10-year term, 30-year amortization and closed with a fixed interest rate in the mid-4-percent range.
