Grandbridge Secures 221 KSF Minnesota Industrial LoanBy
After arranging a $7.8 million refinancing for a Houston-area office asset, Grandbridge Real Estate Capital, a company providing links between complex market conditions, capital solutions and clients, announced the closing of a $9 million first mortgage loan for Kinghorn Logistics Hub, a 221,000-square-foot industrial building in Rogers, Minn.
“Grandbridge arranged funding of the permanent, fixed rate loan through Nationwide, one of our insurance company correspondents. We structured the five-year non-recourse loan with a three-year period of interest-only followed by a 30-year amortization,” Brett Olson, vice president of production at Grandbridge, said in prepared remarks. “The loan closed with an interest rate below 4.0 percent.”…
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