CRE W Minnesota

Grandbridge Real Estate Capital finances $10M Moorhead, Minnesota apartment complex

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Grandbridge Real Estate Capital closed on a first mortgage loan, securing a 133-unit apartment community in Moorhead, Minnesota.

Grandbridge Real Estate Capital closed a $10,050,000 first mortgage loan, secured by a 133-unit apartment community in Moorhead, Minnesota, the company said Tuesday.

The financing originated from Minneapolis-based Tony Carlson, vice president, and Jeff Witt, real estate analyst. Funding for the loan was provided by a Grandbridge life insurance company correspondent and features a 15-year term, 30-year amortization and low-fixed interest rate. Grandbridge facilitated a timely closing process in step with the borrower’s year-end closing deadline.