Multifamily W Minnesota

Grandbridge Real Estate Capital closes $7 million refinance loan for apartment property in Minnesota

Arden

Grandbridge Real Estate Capital recently closed a $7.7 million first mortgage loan secured by a class-A multifamily property in Arden Hills, Minn.

Grandbridge Real Estate Capital recently closed a $7.7 million first mortgage loan secured by a class-A multifamily property in Arden Hills, Minn.

Tony Carlson with Grandbridge originated the refinance transaction.

The loan featured a low long-term fixed rate and did not require a personal guarantee.

The property was 100-percent occupied at closing, and is a newly built Class-A property with granite counter tops, stainless-steel appliances and in-unit laundry.