Grandbridge Real Estate Capital recently facilitated the closing of a 100% occupied 57-unit townhome property in Fargo, ND. Originated by Minneapolis based Assistant Vice President Jeff Witt, the $7,170,000 permanent refinance loan was funded through Freddie Mac.
“The borrower was able to utilize Freddie Mac’s spread hold combined with their index lock feature to eliminate their interest rate risk during underwriting in what was a rapidly increasing rate environment. The 10-year fixed rate loan featured 10-years of interest only payments which allowed the borrower to return a portion of equity to the ownership group,” stated Witt.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Truist Bank, arranges permanent commercial and multifamily real estate loans; services loan portfolios; provides investment sales and brokerage within select asset classes, including senior housing; 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, as well as its proprietary lending platform. The company is a Freddie Mac Optigo® Conventional Multifamily, Seniors Housing and Targeted Affordable Housing lender, a Fannie Mae DUS® lender, and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $39 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 350 securitizations. More information about Grandbridge and its full line of products and services is available at Grandbridge.com.
