Dealmaker: Grandbridge Real Estate Capital Closes $35M Multifamily Refi
Grandbridge Real Estate Capital, Charlotte, N.C., closed a $35.4 million refinance loan secured by The Arrow Apartments, a multifamily and student housing community in Minneapolis, Minn.
The Arrow Apartments is located at 117 27th Ave SE in Minneapolis’ Prospect Park neighborhood near the University of Minnesota Twin Cities.
A credit union supplied the five-year fixed-rate loan, which included one year of interest-only payments followed by a 30-year amortization schedule.
Minneapolis-based Grandbridge Senior Vice President Chris Perry, Vice President Brett Olson and Real Estate Analyst Joe Lindberg originated the financing.
The Arrow Apartments delivered in 2017 with 199 rental units. Building amenities include multiple study rooms, a printing center and a rooftop deck.