Minneapolis-based Senior Vice President Brett Olson and Vice President Jeff Witt recently closed a $3,315,000 permanent refinance loan secured by a 100% occupied retail center in Omaha, NE.
“Grandbridge leveraged their local bank and credit union relationships as opposed to life companies due to rates and prepayment structures being significantly more attractive. The borrower was able to lock in a fixed rate, 7-year loan open at par at closing, giving them the ability to refinance if there were to be another significant drop in rates or they chose to pursue a sale,” stated Witt.
“We appreciate Grandbridge’s work helping us originate a loan at our Brentwood Village Shopping Center with a high LTV and maximum prepayment flexibility, allowing us to take advantage of future opportunities that may arise. City+Ventures has been dedicated to making the 84th Street corridor a dynamic urban destination for La Vista and Sarpy County with unique retail, dining, and entertainment options,” stated a representative of City+Ventures’.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, NC, 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