Dealmaker: Grandbridge Provides $39M Three States

Grandbridge Real Estate Capital, Charlotte, N.C., closed three Freddie Mac Capital Markets Execution loans totaling $38.9 million for assets in Arkansas, Georgia and Washington.

Grandbridge Senior Vice President Alan Tapie closed a $12.2 million acquisition loan secured by a first mortgage on Garden Park Apartments, a 246-unit Fayetteville, Ark. property. The 10-year nonrecourse loan included an initial interest-only period followed by a 30-year amortization schedule.

“The property, though primarily occupied by students, is not a dedicated student property,” Tapie said. “[We] worked together with the repeat client to structure the acquisition financing. The fixed-rate loan was executed below 4 percent with an interest-only period.”

Tapie also originated $7.3 million for The Lodge Apartments, a 237-unit garden-style community in Columbus, Ga. The seven-year nonrecourse loan included a 30-year amortization schedule.

In Issaquah, Wash., Grandbridge Seniors Housing and Healthcare Finance Senior Vice President Richard Thomas closed a $19.4 million Freddie Mac CME loan secured by 99-unit seniors housing community Aegis of Issaquah. The property offers assisted living, memory care and specialized short-term care.