industrial W Minnesota

Grandbridge Real Estate Capital closes $9 million loan for 221,000-square-foot industrial property in Minnesota

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Grandbridge Real Estate Capital recently closed a $9 million first mortgage loan secured by a 221,000-square-foot multi-tenant industrial property in Rogers, Minnesota.</p> <p>

Grandbridge Real Estate Capital recently closed a $9 million first mortgage loan secured by a 221,000-square-foot multi-tenant industrial property in Rogers, Minnesota.

Brett Olson and Dick Riley with Grandbridge originated the transaction.

Grandbridge arranged financing of the permanent, fixed-rate loan through Nationwide, an insurance company correspondent. The five-year nonrecourse loan features a three-year period of interest-only followed by a 30-year amortization.