Office W Minnesota

Grandbridge Real Estate Capital closes $3.8 million loan for purchase of office/warehouse property in St. Paul

Grandbridge provides $3.8 million loan for purchase of office property,ph01

Grandbridge Real Estate Capital recently closed a $3.825 million loan to facilitate the acquisition of an office/warehouse property in St. Paul, Minnesota.

Minneapolis-based Tony Carlson originated this acquisition financing.

Funding for the loan was provided through one of Grandbridge’s correspondent life insurance company relationships. The transaction featured a 15-year term, 15-year amortization, and closed with a fixed interest rate in the mid four percent range.

The loan allowed the borrower to acquire the properties as scheduled, meeting all of the purchaser’s and sellers’ deadlines.