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GRANDBRIDGE CLOSES THREE LOANS TOTALING $30.2 MILLION IN OHIO, ILL., KAN.

DUBLIN, OHIO; DEKALB, ILL.; AND MISSION, KAN. — Charlotte, N.C.-based Grandbridge Real Estate Capital has closed three loans totaling $30.2 million for multifamily properties in Ohio, Illinois and Kansas. Grandbridge's Ted Schmidt originated an $18.3 million loan, which was provided by Freddie Mac, for Orchard Apartments in Dublin. The 292-unit multifamily property features a swimming pool, a Jacuzzi, detached garages, laundry facilities, storage units, lakes, a putting green, a fitness center and a clubhouse. In the second transaction, Matt Rocco of Grandbridge's Atlanta office originated a $9.4 million first mortgage loan, which was secured by the 254-unit Lincolnshire West Apartments in DeKalb. The 10-year, fixed-rate loan, which carries a 30-year amortization schedule, was provided by Fannie Mae under its DUS loan program. Finally, Grandbridge's Tom Vrabac in the company's Kansas City office originated a $2.5 million loan, which was secured by Lamar Place Apartments in Mission. The property offers 108 affordable housing units. Funding was provided by Fannie Mae under its DUS loan program. The 10-year term loan carries an interest rate in the mid-5 percent range and a 30-year amortization schedule.

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