GRANDBRIDGE CLOSES $75.82 MILLION MULTIFAMILY LOAN IN UPSTATE N.Y.

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WHITE PLAINS, N.Y. — Charlotte, N.C.-based Grandbridge Real Estate Capital has closed on a $75.82 million loan for a White Plains multifamily community. Bank Street Commons consists of two 21- and 22-story towers containing 502 Class A units. The towers are joined by a common area occupied by two retail units. The loan, which was originated by Grandbridge's Mike Ortlip and funded by Fannie Mae, carries a 7-year term, a fixed interest rate and interest only payments. The property was recently purchased by a pension fund advisor.

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