Dealmaker: Grandbridge Closes $113M in Student Housing, Seniors Housing Deals

Grandbridge Real Estate Capital, Charlotte, N.C., closed student housing and seniors housing transactions totaling $112.6 million.

Minneapolis-based Grandbridge Vice President Brett Olson secured $94.6 million in construction and rehabilitation loans for three multifamily student housing communities.

The first transaction, a $30 million new construction loan secured by a 154-unit property in Lincoln, Neb., was structured with a five-year term and a three-year interest only-period. The second transaction was a $43 million new development loan for a 112-unit student housing property in Iowa City, Iowa. The seven-year loan included a three-year interest-only period. The third property, a 260-unit community in Columbia, Mo., received a $21.5 million five-year term acquisition loan with a two-year interest-only period.

Grandbridge’s seniors housing investment sales team also arranged the $18 million sale of a seniors housing community in Ohio. The community includes more than 200 units on nearly 20 acres. The sales team led by Senior Vice President Allen McMurtry and Vice Presidents Dave Kliewer and Jay Jordan represented the seller to an all-cash buyer.

“With the seller remaining in place as operator and the buyer providing a capital infusion, the property is well positioned for future success,” Kliewer said.