- 308 units
- Fannie Mae DUS ®
Grandbridge Minneapolis Finances $26.2 Million Multifamily Property in Chicago Suburb
Grandbridge Real Estate Capital recently closed a $26,200,000 first mortgage loan secured by a 308-unit multifamily property in Lisle, Illinois.
Minneapolis-based Ben Fazendin originated the permanent, fixed-rate transaction.
Funding for the refinance was arranged through Fannie Mae’s DUS ® loan program. Grandbridge successfully worked with the borrower and Fannie Mae to structure the 10-year, nonrecourse loan with several years of interest-only payments. This collaborative relationship enabled the borrowers to accomplish all of their refinancing goals, including returning a portion of equity to the principals.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, NC, Grandbridge Real Estate Capital LLC, a subsidiary of Truist Bank, arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors. The company is a Freddie Mac Optigo℠ lender, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $72.3 billion, Grandbridge, an S&P "Strong" rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations.
Grandbridge Real Estate Capital LLC is a wholly-owned subsidiary of Truist Bank. Truist Bank is an Equal Housing Lender. Truist Bank, Member FDIC.
Loans are subject to credit approval, which may or may not be forthcoming. © 2023 Grandbridge Real Estate Capital LLC.