Grandbridge Finances $35.44 Million Multifamily/Student Housing Property in Minneapolis's Prospect Park Neighborhood
Grandbridge Real Estate Capital recently facilitated the closing of a $35,440,000 refinance loan secured by The Arrow Apartments, a 199-unit multifamily/student housing community in Minneapolis, Minn. Originated by Minneapolis-based Senior Vice President Chris Perry, Vice President Brett Olson and Real Estate Analyst Joe Lindberg, the permanent, fixed-rate loan was funded through one of Grandbridge’s credit union relationships with an initial interest-only period, a 5-year term and 30-year amortization.
Within walking distance to the University of Minnesota, The Arrow’s amenities include a fitness center, multiple study rooms, a printing center, roof top deck and 24-hour gym.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, NC, Grandbridge Real Estate Capital, a subsidiary of Branch Banking and Trust Company (BB&T), 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.
Loans are subject to credit approval.
Grandbridge Real Estate Capital is a subsidiary of Branch Banking and Trust Company(opens in a new tab), Member FDIC. Both are Equal Housing Lenders.
Branch Banking and Trust Company is now Truist Bank. Learn more(opens in a new tab)