Grandbridge Arranges $12 Million Minneapolis Apartment Refinance
Grandbridge Real Estate Capital recently closed a $12 million first mortgage loan secured by Hiawatha Flats in Minneapolis, Minnesota.
Grandbridge Minneapolis-based Senior Vice President Dave Rasmussen originated the transaction.
The permanent, fixed-rate refinance loan was funded through one of Grandbridge’s insurance correspondents and structured with a 20-year term.
Grandbridge, the borrower, and the lender worked successfully to refinance this Class A apartment community, delivering a long-term, fixed-rate mortgage below the borrower’s existing rate.
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.