Office W Minnesota

Grandbridge Real Estate Capital closes purchase loan for 420,000 square feet of office space in Minnesota

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Grandbridge Real Estate Capital recently closed a first mortgage loan secured by 420,000-square-feet of office space in Mendota Heights, Minnesota.

Grandbridge Real Estate Capital recently closed a first mortgage loan secured by 420,000-square-feet of office space in Mendota Heights, Minnesota.

The buyer paid $40 million for the six-building office park.

Tony Carlson with Grandbridge originated the acquisition financing for the buyer. The loan features a fixed rate for the entire 10-year term and 25-year amortization.