REBusinessOnline

Grandbridge Arranges $4.7M in Refinancing for Two-Property Portfolio in Lorain, Ohio

Pictured is City Center, a 56,384-square-foot office building.

LORAIN, OHIO — Grandbridge Real Estate Capital has arranged two loans totaling $4.7 million for the refinancing of a two-property portfolio in Lorain, about 30 miles west of Cleveland. The first property is Fairway East Apartments, a recently renovated apartment community totaling 80 units across five buildings. The second asset is City Center, a 56,384-square-foot office building housing tenants such as Spectrum Consulting Services, Lorain County Community College and United Property Management. Craig Kegg of Grandbridge arranged the 15-year, fixed-rate loans with insurance company correspondents. United Property Management was the borrower.

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