Finance i Ohio

Grandbridge provides $8.6 million refinance loan for Columbus apartment/retail building

Grandbridge provides $8.6 million refinance loan for Columbus apartments,ph01

Grandbridge Real Estate Capital recently closed an $8.6 million refinance loan secured by The Diplomat, a 34-unit multifamily/four-unit retail property in Columbus, Ohio.

Grandbridge Columbus-based Senior Vice Presidents Craig Kegg and Ted Schmidt originated the fixed-rate loan.

The nonrecourse permanent loan was funded through Grandbridge’s exclusive proprietary lending platform, BB&T Real Estate Funding, and was structured with a 10-year term, followed by a 30-year amortization. The transaction closed with an interest rate of 3.89 percent.

The Class-A apartments feature stainless steel appliances, quartz countertops, chrome fixtures, 36-inch Italian gas ranges, terrazzo flooring and washer/dryer hookups.