Grandbridge Secures $20+ Million Mortgage for Waukesha Apartments

Published On: 06.04.12

MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a first mortgage loan of more than $20 million for the acquisition of River’s Edge Apartments, a 340-unit residential community located in downtown Waukesha, Wisconsin. The loan was placed for an affiliate of Wisconsin-based, Mandel Group, Inc.

The financing was arranged through Freddie Mac’s Capital Market Execution (CME) loan product. The 10-year, fixed rate mortgage closed with an interest rate in the high-three percent range.      

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.

Grandbridge, a wholly-owned subsidiary of BB&T, is a Freddie Mac Program Plus® Seller/Servicer, a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, and 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 $26 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.