Grandbridge Real Estate Capital recently closed a $3.825 million loan to facilitate the acquisition of an office/warehouse property in St. Paul, Minnesota.
Minneapolis-based Tony Carlson originated this acquisition financing.
Funding for the loan was provided through one of Grandbridge’s correspondent life insurance company relationships. The transaction featured a 15-year term, 15-year amortization, and closed with a fixed interest rate in the mid four percent range.
The loan allowed the borrower to acquire the properties as scheduled, meeting all of the purchaser’s and sellers’ deadlines.
