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Grandbridge Arranges $20.5M Acquisition Loan for Office Building in Birmingham

Lakeshore Park Plaza constructed in 1980, renovated in 2016 and was 93 percent leased at the time of sale.

BIRMINGHAM, ALA. — Grandbridge Real Estate Capital has arranged a $20.5 million acquisition loan for Lakeshore Park Plaza, a four-story, 196,871-square-foot office building in Birmingham. The 10-year loan, provided by one of Grandbridge’s insurance company correspondents, features a fixed interest rate and a 30-year amortization schedule. The building was constructed in 1980, renovated in 2016 and was 93 percent leased at the time of sale. The borrower and seller were not disclosed.

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