Grandbridge Real Estate Capital recently originated and closed a first mortgage loan of more than $20 million for the acquisition of River’s Edge Apartments, a 340-unit residential community located in downtown Waukesha, Wis.
The loan was placed for an affiliate of Wisconsin-based, Mandel Group, Inc.
Milwaukee-based Grandbridge senior vice president Jim Cope and vice president Debe Storts arranged the financing through Freddie Mac’s Capital Market Execution loan product. The 10-year, fixed-rate mortgage closed with an interest rate in the high-3-percent range.
