Grandbridge Real Estate Capital recently originated and closed a $4.25 million first mortgage loan secured by Festival Foods located in Oshkosh, Wis. The 73,800-square-foot grocery-anchored retail center has a history of strong tenancy and sales.
Milwaukee-based Grandbridge vice president Mikko Erkamaa arranged the financing through Woodmen of the World Life Insurance. The fixed-rate refinance loan has a 10-year term, 20-year amortization and closed with an interest rate of 4.9 percent.
Grandbridge’s understanding of the submarket, single tenant NNN lease structure and the firm’s relationship with local experts facilitated the financing. Erkamaa worked with the lender to release the corporate guarantee. Grandbridge Senior Analyst Dean Huber assisted in the transaction.