Finance v Wisconsin

Grandbridge secures $4.8 million loan for Wisconsin multi-family building

Grandbridge Real Estate Capital recently originated and closed a $4.8 million first mortgage loan secured by Riverwalk Apartments, a 136-unit residential community located on the Fox River near downtown Waukesha, Wis.

Grandbridge Real Estate Capital recently originated and closed a $4.8 million first mortgage loan secured by Riverwalk Apartments, a 136-unit residential community located on the Fox River near downtown Waukesha, Wis.

The loan was placed for Madison, Wis.-based Urban Land Interests, Inc.

Milwaukee-based Grandbridge senior vice president Jim Cope and real estate analyst Justin Nelson originated the transaction. Funding for the fixed-rate refinance loan was provided by Fannie Mae under its Delegated Underwriting and Servicing loan program with an interest rate near 5 percent and a 10-year term, amortized over 30 years.