Finance W Minnesota

Grandbridge Real Estate Capital closes $5.65 million loan for 83-unit apartment community in Minnesota

hopkins

Grandbridge Real Estate Capital recently closed a $5.65 million first mortgage loan secured by an 83-unit apartment complex in Hopkins, Minn.

Grandbridge Real Estate Capital recently closed a $5.65 million first mortgage loan secured by an 83-unit apartment complex in Hopkins, Minn.

Tony Carlson originated the refinance transaction.

Funding for the fixed-rate loan was provided by a life insurance company and features a fixed rate for the entire 15-year term. The loan required no personal guaranty and closed with an interest rate in the low 4-percent range.