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ST. LOUIS PARK, MINN. — Grandbridge Real Estate Capital has closed a $4.5 million first mortgage loan secured by a 107-unit apartment complex in St. Louis Park, a western suburb of Minneapolis. Funding for the 20-year loan was arranged through a life insurance company and featured a fixed interest rate in the low four percent range. Proceeds from the loan were used to retire existing debt and provide cash out to the borrower. The property, which was 100 percent occupied at closing, features a variety of unit types and amenities. Tony Carlson of Grandbridge originated the transaction.