253
HOUSTON — Grandbridge Real Estate Capital has arranged a $19.5 million loan for the refinancing of a 230-unit multifamily property in the Houston area. John Hancock Life Insurance Co. provided the nonrecourse loan, which was structured with a fixed interest rate, 10-year term and a 30-year amortization schedule. Rob LaRue of Grandbridge, which is based in Charlotte, N.C., placed the debt on behalf of the undisclosed borrower. The name of the property was also not disclosed.