Multifamily W Minnesota

Grandbridge Real Estate Capital closes $10 million loan for Minnesota apartment community

moorhead

Grandbridge Real Estate Capital recently closed a $10.05 million first mortgage loan secured by a 133-unit apartment community in Moorhead, Minnesota.

Grandbridge Real Estate Capital recently closed a $10.05 million first mortgage loan secured by a 133-unit apartment community in Moorhead, Minnesota.

Tony Carlson, president, and Jeff Witt, real estate analyst, with Grandbridge originated the loan.

Funding for the refinance loan was provided by a life-insurance correspondent and featured a 15-year term, 30-year amortization and low fixed interest rate.