Finance W Minnesota

Grandbridge closes $29 million loan for Minnesota apartment community

  

Grandbridge Real Estate Capital recently closed a $29 million first mortgage loan secured by a 110-unit multifamily community in St. Louis Park, Minnesota.

This construction-perm financing was originated by Minneapolis-based vice president Tony Carlson.

Funding for the fixed-rate nonrecourse loan was provided through FHA’s 221(D)(4) loan product.