Grandbridge Real Estate Capital recently closed on the permanent refinance of a $9,166,000 first mortgage loan secured by a 125-unit apartment project in Plymouth, Minnesota. The non-recourse loan was provided by agency lender Fannie Mae and featured a 10-year term and very low fixed interest rate. The refinance allowed the borrower to take advantage of historically low interest rates and significantly reduce their debt service payments. Financing was originated by Minneapolis-based Vice President Tony Carlson.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Truist Bank, arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform. The company is a Freddie Mac Optigo® Conventional Multifamily, Seniors Housing and Targeted Affordable Housing lender, a Fannie Mae DUS® lender, and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $38.5 billion, Grandbridge, an S&P strong rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations. More information about Grandbridge and its full line of products and services is available at Grandbridge.com.