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ST. CLOUD, MINN. — Grandbridge Real Estate Capital recently closed a $16 million first mortgage loan secured by a 240-unit multifamily property in St. Cloud. The 282,554-square-foot property sits on 33 acres of land. Tony Carlson of the Minneapolis office of Grandbridge originated the refinancing loan. The fixed-rate, nonrecourse loan provided by a life insurance company includes a 15-year term and 25-year amortization schedule. The Class A property includes an abundance of amenities and large, finished units.