REBusinessOnline

Grandbridge Arranges $5.7M Loan for Refinancing of Apartment Community in Sartell, Minnesota

SARTELL, MINN. — Grandbridge Real Estate Capital has arranged a $5.7 million loan for the refinancing of a 78-unit apartment community in Sartell, about 70 miles northwest of Minneapolis. Tony Carlson of Grandbridge arranged the nonrecourse loan, which features a 15-year term, a 20-year amortization schedule and a fixed interest rate. An insurance company provided the loan on behalf of the undisclosed borrower.

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