GRANDBRIDGE CLOSES TWO LOANS TOTALING $64.68 MILLION IN VIRGINIA AND MIAMI

ARLINGTON, VA.; AND MIAMI — Grandbridge Real Estate Capital has closed on two loans totaling $64.68 millon for two multifamily properties in Virginia and Miami. The company arranged a $61.18 million first mortgage loan, which is secured by Park at Arlington Ridge I. Located in Arlington, the multifamily property offers 435 garden-style units. Paul Aanonsen and Jack Bauer of Grandbridge's Washington, D.C., office originated loan the loan, which was provided by Freddie Mac under its Capital Markets Execution product. Additionally, Grandbridge closed a $3.5 million first mortgage loan, which was secured by Dadeland Vista Apartments in Miami. The multifamily property offers 48 units. Lance Lehman of Grandbridge's Fort Lauderdale, Fla., office originated the 10-year loan, which was provided by Fannie Mae under its DUS loan program with an interest rate in the mid-4 percent range and a 30-yeat amortization schedule.