Grandbridge Secures $10.2 Million Mortgage for Net-Leased Kohl’s

Published On: 11.08.11

MILWAUKEE, Wis. — Grandbridge Real Estate Capital recently originated and closed a $10,200,000 acquisition first mortgage loan secured by a Kohl’s Department Store in Upland, Ca. The 76,212 square foot single tenant retail store was built in 1978 and renovated in 2009.

Milwaukee-based Grandbridge Vice President Mikko Erkamaa arranged the financing through American United Life Insurance Company. The loan is a 17-year term, self-amortizing loan closed with a fixed rate below five percent.  Mr. Erkamaa was assisted by Senior Real Estate Analyst Dean Huber.

Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, CMBS lenders, commercial banks and capital markets investors, as well as a proprietary lending platform.

The company, a wholly-owned subsidiary of BB&T, is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender and a Freddie Mac Program Plus® Seller/Servicer, Seniors Housing and Targeted Affordable Housing lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in products insured by the Federal Housing Administration (FHA).

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of more than $25.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.