Grandbridge Real Estate Capital closed a $9 million first mortgage loan secured by a 150-unit multi-family property in St. Cloud, Minn.
This refinance transaction was originated by Minneapolis-based vice president Tony Carlson.
Funding for the fixed-rate loan was provided by a life insurance company. It featured a 15-year term, 15-year amortization and a fixed interest rate in the low-3-percent range.